Finance

Tesla suspends plans to enter the Indian market

Ilon Musk's company has suspended plans to sell electric cars in India. Tesla was unable to reach an agreement with the authorities on lower import taxes, Reuters reported.

Negotiations with the Indian government lasted more than a year. Tesla had intended to ship Chinese-made electric cars to India, but the country insists on building a factory "at home."

The tariffs on imported cars in India can reach up to 100%, which is an unbearable burden for any automaker.

ECB tries to save EU economy - central bank will be flexible in reinvesting PEPP program

The pandemic has left persistent vulnerabilities in the eurozone economy that contribute to the uneven normalization of our monetary policy among different countries, the ECB said. The ECB has instructed Eurosystem committees and ECB services to accelerate the development of a new mechanism to combat fragmentation. Why it matters. Rising

Price for oil price cap yet to be determined, head of European Commission

"The EU is ready in principle to go to the oil price cap," von der Leyen added. Earlier, the head of the U.S. Treasury Yellen said that the U.S. is not against the purchase of oil by India above the price cap. The WSJ also reported citing sources

U.S. officials forced to roll back plan to limit Russian oil prices - Bloomberg

India and China - Russia's most important trading partners - will not participate, Bloomberg sources said. The price cap plan is still alive after all. However, the price cap will be higher than previously thought. Earlier, U.S. Treasury Secretary Yellen said the price ceiling could be in the range

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