Bloomberg Toyota may stop manufacturing in the UK because of a government policy that mandates a rapid switch to fully electric vehicles, the Times of London reported. The company told Transport Secretary Grant Shapps about its concerns for the plan’s transition phase, which bans new gasoline and diesel cars from 2030. While hybrid vehicles will be allowed until 2035, ...

  Abu Dhabi / WAM AD Ports Group, the region’s premier facilitator of logistics, industry, and trade, has partnered with UAE-based, multi-business conglomerate Ghassan Aboud Group to establish one of the region’s largest automotive export and distribution hubs in Kizad. The launch was announced at the official ceremony held in Abu Dhabi in the presence of key stakeholders and officials. ...

Bloomberg Oil headed for the biggest weekly loss in almost two years after the Biden administration ordered an unprecedented release of the US strategic reserves to tame rampant prices. West Texas Intermediate futures swung between gains and losses Friday, and were down about 13% this week, the most since April 2020. The US plans to release 1 million barrels a ...