Here are news stories, press reports and events to watch which may affect the auto industry, transportation and energy markets on Tuesday.
WORLD OIL PRICES
Brent crude futures steadied near $112 a barrel on Tuesday as investors weighed a weaker demand outlook amid a sluggish global economy against the continuing potential for supply risks.
SINGAPORE AIRLINES LTD, TIGER AIRWAYS HOLDINGS
– Singapore Airlines’ budget unit, Scoot, and Tiger Airways have signed a partnership agreement and will offer some joint itineraries.
BMW, VOLKSWAGEN, DAIMLER
Germany may subsidize electric cars after the next general election in order to meet a lofty goal of 1 million fossil fuel-free vehicles on the road by 2020, according to Chancellor Angela Merkel.
Separately, Canadian automotive group Magna International Inc may lose the contract with BMW to build the next generation of Mini cars at its Austrian plant as BMW looks to concentrate Mini production in Britain and the Netherlands.
Brent crude futures steadied near $112 a barrel as investors weighed a weaker demand outlook amid a sluggish global economy against the continuing potential for supply risks.
New car sales in recessionary Italy plunged 25.7 percent in September from the same month a year ago to 109,178 vehicles, Italy’s Transport Ministry said on Monday.
U.S. oil firm ConocoPhillips is ready to sell its stake in Kazakhstan’s giant Kashagan oilfield, and the Central Asian nation is eager to acquire this share, senior Kazakh officials said on Tuesday.
The oil services company said on Tuesday it has signed a lump-sum contract with Murphy Exploration & Production Company for the development of an offshore field in the Gulf of Mexico.
The oil price now hovering around $111 per barrel is “a balanced price” that allows companies to sustain crude oil production levels and invest in exploration, Angola’s oil minister said.