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Oil and gasoline futures turn after Ida cut production.

[ad_1] Hurricane Ida residents Friday in Gulf Hills, Miss.Credit…via Hannah Ruhoff/The Sun Herald, Associated Press Energy markets turned on Monday as investors responded to the immediate disruption from Hurricane Ida, while simultaneously trying to gauge the economic cost of increased US hospitalizations caused by the coronavirus. Gasoline futures rose 2 percent after climbing more than …

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Affected by sawdust shortage, Toyota to cut production by 40% in September

[ad_1] Toyota Motor, the world’s largest automaker, plans to cut its worldwide production by 40 percent in September. shortage of computer chips He said the company has so far avoided harm. The company said the move would affect 14 plants in Japan and cut production by about 140,000 cars and trucks next month. In the …

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Lordstown Motors says it will likely only start ‘limited production’

[ad_1] Cash-tied electric pickup truck startup Lordstown Motors said on Wednesday it will only begin “limited production” by the end of September and expects that to be the case for the rest of this year. company, a release second quarter financestated that it still needs cash to meet its final production targets. Lordstown said it …

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Novavax Says US Will Pause Funding for Vaccine Production

[ad_1] WASHINGTON — Maryland firm Novavax, which won a $1.75 billion federal contract to develop and manufacture a coronavirus vaccine, said Thursday that the federal government will not fund further production of the vaccine until the company resolves concerns about the work of federal regulators. of the firm statement came quarterly filing with the Securities …

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Chip shortages are forcing German automakers to cut production.

[ad_1] Daily Business Briefing 21 July 2021Updated July 21, 2021 at 7:59PM ET July 21, 2021 at 7:59PM ET A Daimler factory in Germany. The automaker is trying to deal with chip shortages by prioritizing its most expensive and most profitable models.Credit…Kai Pfaffenbach/Reuters global semiconductor shortage Demand is recovering strongly from the pandemic-induced downturn, interrupting …

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Chip Shortage Forces Daimler and BMW to Slow Down Automated Production

[ad_1] global semiconductor shortage Demand is recovering strongly from the pandemic-induced downturn, interrupting production in the German auto industry. Automakers Daimler and BMW said this week that a lack of sawdust is forcing assembly lines to slow or halt, reducing production by tens of thousands of vehicles and leading to longer wait times for customers. …

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OPEC Plus Agrees to Increase Oil Production and End the Conflict

[ad_1] Major oil producers agreed on a production increase on Sunday. United Arab Emirates and Saudi Arabia settled a dispute this month that blocked a deal. Under the agreement, OPEC Plus, as the group is known, will increase production by 400,000 barrels per day indefinitely every month from August. The arrangement gives Emirates most of …

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