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By Johnna Crider Posted on November 23, 2022 Volkswagen (VW) CEO Thomas Schafer believes that the automaker’s autonomous cars will be globally mainstream by 2030. In an interview with AutoCar, he said that the automaker was “consolidating its development partnerships.” “Our goal is to offer our customers the most powerful functions at the earliest possible
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The Treasury Department issued new guidance Tuesday about policies on the maritime transport of Russian oil ahead of a planned price cap in early December. The guidance, which complements the U.K.’s newly-released policies, outlines how U.S. service providers can continue carrying Russian seaborne oil that was loaded before Dec. 5, while complying with a strategic
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Commodities trading giant Trafigura Group is working on deals to supply Europe with fuel once deliveries from Russia are all but cut off early next year. The company has played a pivotal role in supplying middle distillates — industry jargon for jet and diesel-type fuels — into continental Europe over the last year, through both
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Sam Bankman-Fried, co-founder and CEO of FTX, in Hong Kong, China, on Tuesday, May 11, 2021. Lam Yik | Bloomberg | Getty Images FTX’s ex-CEO Sam Bankman-Fried blamed his “irrational decisions” on “sh—y” circumstances in a letter obtained by CNBC that was sent to employees of the bankrupt crypto exchange. Bankman-Fried said he “froze up
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These machines, known as mining rigs, work round the clock to find new units of cryptocurrency. Benjamin Hall | CNBC New York Gov. Kathy Hochul signed a law Tuesday banning certain bitcoin mining operations that run on carbon-based power sources. For the next two years, unless a proof-of-work mining company uses 100% renewable energy, it
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China’s crude buyers have paused purchases of some Russian oil as they wait for details of a US-led cap to see if it presents a better price. Several cargoes of Russian ESPO crude for December-loading remain unsold and there’s hesitation among sellers and Chinese buyers to close deals before more clarity on the exact price cap level
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By Joey Klender Posted on November 21, 2022 Italian hypercar maker Automobili Pininfarina released record-breaking acceleration and braking metrics for its Battista hypercar. The Battista spent several days at the Dubai Autodrome, where its credentials were confirmed through a set of record-breaking runs. The Battista achieved 0-60 MPH acceleration in just 1.79 seconds and 0-120
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Speaking late last month, U.S. President Joe Biden threatened to pursue higher taxes on oil company profits if industry giants do not work to cut gas prices. Brandon Bell | Getty Images Oxfam on Monday filed shareholder resolutions against U.S. oil giants Exxon Mobil, Chevron and ConocoPhillips, saying a lack of transparency over their global
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Oil prices were volatile Monday as traders considered the possibility of weakening Chinese demand and a growing view the world could have sufficient supplies even with a European ban on Russian oil. After a wild session, West Texas Intermediate crude futures closed down 0.42% at $79.74 per barrel after paring losses, while Brent crude was
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The U.S. added a total of three more rigs week on week, according to Baker Hughes’ latest rotary rig count, which was published on November 18. Baker Hughes’ count revealed that the U.S. added four land rigs week on week, and dropped one inland water rig, taking its total rig count to 782. Of this
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Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Monday’s key moments. Oil slides Disney ousts Chapek Salesforce growth concerns 1. Oil slides All four of the Club’s energy stocks — Coterra Energy (CTRA), Pioneer Natural Resources (PXD), Halliburton (HAL) and Devon
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