According to a report from BP PLC (NYSE: BP), oil demand will hit a top in about 20 years. MarketWatch reports:
Global demand for crude oil could peak in the next two decades, as renewables like solar power surge faster than expected to meet a greater share of the world’s energy needs, BP PLC said Tuesday.
The world’s appetite for oil and other liquid fuels could continue to grow until around 2035, hitting 110.3 million barrels a day–compared with 95 million barrels a day in 2015–before plateauing and falling off in the run up to 2040, the British oil-and-gas giant said Tuesday in the main future scenario, releasing its annual energy outlook.
Japanese car companies may start to look for profits in the U.S. market over market share. According to Reuters:
A second year of slowing growth in the U.S. auto market is forcing Japanese automakers to look beyond discounts to grow market share and focus more on boosting profitability in their largest market.
Global automakers have been battling for dominance in the world’s No. 2 market as annual sales continue to slide from a record high 17.55 million vehicles in 2016. Many have resorted to price cuts to boost market share in the growth segments for SUVs and pick-up trucks, while also shoring up sales in the struggling sedan segment.
AT&T Inc. (NYSE: T) will not be able to use confidential government communications in its lawsuit over a merger with Time Warner Inc. (NYSE: TWX). According to The Wall Street Journal:
A federal judge on Tuesday undercut AT&T Inc.’s plans to argue that the Justice Department is challenging its acquisition of Time Warner Inc. for political reasons, ruling that the company can’t have information on internal government deliberations.
AT&T has argued that the government’s case was influenced by President Donald Trump’s opposition to the deal and his disdain for Time Warner’s CNN, a network he has criticized repeatedly.
Apple Inc. (NASDAQ: AAPL) may buy more of an important chemical from the companies that mine it. According to Bloomberg:
Apple Inc. is in talks to buy long-term supplies of cobalt directly from miners for the first time, according to people familiar with the matter, seeking to ensure it will have enough of the key battery ingredient amid industry fears of a shortage driven by the electric vehicle boom.
The iPhone maker is one of the world’s largest end users of cobalt for the batteries in its gadgets, but until now it has left the business of buying the metal to the companies that make its batteries
Artificial intelligence could trigger dangers to drivers. According to CNBC:
With advances in artificial intelligence, the risks of hackers using such technologies to launch malicious attacks are increasing, top researchers warned in a report released on Wednesday.
They could use such AI to turn consumer drones and autonomous vehicles into potential weapons, for instance, said researchers from universities such Oxford, Cambridge and Yale, as well as organizations like the Elon Musk-backed OpenAI, in a report.
Amazon.com Inc. (NASDAQ: AMZN) has started to sell over-the-counter health products. According to CNBC:
Amazon has quietly launched an exclusive line of over-the-counter health products in a possible challenge to pharmacy retail chains that could spark a price war and put pressure on store-brand profit margins.
Technically, the company doesn’t own these products, which are produced by private-label manufacturer Perrigo, but it does put Amazon in a position to squeeze other retailers. The e-commerce giant launched the Basic Care line in August, including 60 products ranging from ibuprofen to hair regrowth treatment.