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The SC crude oil futures contract hit its daily limit again, rising 13.99% to 641.1 yuan per barrel, after previously narrowing its gains to 5.64%.On March 4th, a research team at Natixis stated that under their baseline scenario, oil prices are likely to trade around $80 per barrel in the short term due to Irans limited ability to continue disrupting Middle Eastern oil flows. The team noted that current US and Israeli military actions against Iran are primarily focused on military and air transport facilities. Although Iran attacked a Saudi oil refinery and a Qatari liquefied natural gas facility earlier this week, there has been no substantial disruption to overall energy supplies. The report stated, "There are currently no significant disruptions to oil supply, only short-term disturbances in transport via the Strait of Hormuz."Iranian Foreign Ministry: German advisors are pressuring EU countries to conspire in acts of aggression against us.On March 4th, Daiwa Research reported that it expects Baidus (09888.HK) Kunlun Chip IPO valuation to be higher than its peers due to its larger revenue scale and better profitability. Currently, Kunlun Chip derives most of its revenue from external demand, with major clients including Tencent and a large telecommunications operator. Management stated that chip production capacity constraints are not a short-term concern for the company, as Kunlun Chip has secured sufficient supply to support development over the next two years. The bank reiterated its "Buy" rating on Baidu with a target price of HK$175 and maintained its earnings forecasts for this year and next. Recent catalysts include the Kunlun Chip listing and details of the 2026 dividend plan.Bank of Japan Governor Kazuo Ueda: It is crucial for the government to ensure market confidence in long-term fiscal sustainability.

Argo Tests Driverless Vehicles on The Streets of Miami And Austin

Aria Thomas

May 18, 2022 10:01

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Tuesday, self-driving firm Argo AI said that its employees would be transported in driverless vehicles through the streets of Miami, Florida and Austin, Texas, with commercial applications to come at an indeterminate period.


Argo, which is supported by Ford Motor (NYSE:F) Co and Volkswagen AG (OTC:VWAGY), has tested its robotaxis on public roads in both cities for a number of years, although safety drivers have always been present.


"Argo is the first to go driverless in two major American cities, securely operating among high traffic, pedestrians, and bikers in the busiest districts," said Bryan Salesky, chief executive officer of Argo AI.


The startup permits ride-hailing, delivery, and logistics firms to integrate its autonomous vehicles into their operations.


A spokesperson for Argo AI stated that ride-hailing service Lyft Inc (NASDAQ:LYFT) and retail-grocery chain Walmart (NYSE:WMT) Inc were incorporating the technology in trial programs.


"Our driverless operations are initially focused on performing employee rides utilizing our in-house designed ride hailing test software," the spokesperson explained. We will integrate driverless vehicles into commercial operations when the time is right.


Lyft, which sold its own autonomous driving technology company a year ago, joined with Argo AI and Ford in July. By providing routing, customer interface, and fleet management services, the ride-hailing company plans to "get the maximum amount of income" from the robotaxis.


Walmart said in September that it would launch an autonomous car delivery service in Miami, Austin, and Washington, D.C. in partnership with Argo AI and Ford.


Self-driving businesses have frequently delayed timeframes for providing genuinely driverless rides on a large scale, with only a handful of limited fully autonomous programs available in the United States.


Human drivers account for around 80% of the per-mile cost of conventional ride-hailing services. Self-driving businesses must recoup billions of dollars in development expenditures and determine how to efficiently grow, manage, and repair vehicle fleets.

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