Volkswagen CFO says 64% drop in profits shows ‘urgent need’ for cost cuts

The German car maker reported a sharp 12% drop in its sales in China as it said it profits were hit by higher fixed costs and €2.2 billion worth of restructuring expenses

Business - MarketWatch - 7 hours ago

Volkswagen profit plunges 64% as China sales slide

Europe’s largest carmaker highlights ‘urgent need’ for cost reductions and efficiency gains

Business - Financial Times - 6 hours ago

Google's new CFO makes earnings call debut, says company can 'push a little further' on cost cuts

In her first earnings call as Alphabet CFO, Anat Ashkenazi said more streamlining will be needed so the company can invest in AI.

Business - CNBC - 17 hours ago

Gaming the system? Verstappen incident shows overtake rules need urgent overhaul

As fallout from battle between Norris and Red Bull driver in Austin rumbles on, F1 must look again at guidelines. While the dust has yet to settle on the controversy over Max Verstappen’s defence ...

World - The Guardian - 6 days ago

Volkswagen Could Close 3 Plants in Germany to Cut Costs

The auto maker’s top employee representative told workers that management planned to shutter factories for the first time in the company’s 87-year history.

World - The New York Times - 2 days ago

For First Time in 87 Years, Volkswagen May Close 3 Plants in Germany

The automaker’s top employee representative told workers that management planned to shutter the factories to cut costs amid slumping sales.

Top stories - The New York Times - Yesterday

UnitedHealth’s stock rocked as a big jump in medication costs hurt profitability

UnitedHealth’s stock was having its worst day in more than four years on Tuesday, after the healthcare giant beat third-quarter profit and revenue expectations but missed on medical-care ...

Business - MarketWatch - October 15

Volkswagen plans to close at least 3 German plants and cut thousands of jobs

Europe’s largest carmaker tells works council it would slash pay by 10%

Business - Financial Times - 2 days ago

Volkswagen targets layoffs and 10% pay cuts amid plans for German plant closures, union says

Volkswagen is considering wide spread pay cuts and layoffs as well as closures or size reductions of its plants in Germany, the company's works council said Monday.

Business - CNBC - 2 days ago

Mercedes-Benz and Porsche look for cost cuts after China slump hits profits

German carmakers exposed to Asian nation’s economic malaise after benefiting from its booming auto market

Business - Financial Times - 5 days ago

The family shop saying goodbye after 64 years

The Hartley family has watched the world from behind the counter of their store since 1960.

UK needs big emissions cut, climate watchdog says

The government's advisers say faster action is needed but the UK has the tools to achieve this.

Volkswagen Profit Shrinks as Unions Threaten Strike

Germany’s biggest automaker said its profit dropped 42 percent in the third quarter, as union leaders warned that workers were ready to walk out over a wage dispute.

Business - The New York Times - 2 hours ago

Europe urgently needs a dose of Franco-German couples therapy

It’s in Brussels’ interests for Paris and Berlin to find a way to work together again

Business - Financial Times - October 14

Full transcript of 911 calls made from hotel where star was staying

Staff made two urgent calls to emergency services before the former One Direction singer fell to his death from a hotel balcony in Argentina.

Volkswagen profit plunges 42% in third quarter amid sweeping overhaul plans

German automaker Volkswagen on Wednesday reported a 42% drop in operating profit in the third quarter.

Business - CNBC - 23 minutes ago

Volkswagen to cut Germany footprint amid broader industry struggles

World - Yahoo News - 2 days ago

The US election interference row tells us this: Starmer’s political compass urgently needs resetting | Martin Kettle

While it’s likely Labour did nothing illegal in assisting its politicos to volunteer for Harris, it’s yet another issue that was easily avoidable. Gordon Brown famously brought his moral compass to ...

World - The Guardian - 5 days ago

Santander's Profit Beats Expectations on Lower Provisions, Costs

Spain’s largest bank by market capitalization reported a 12% on-year increase in net profit for the three months ended Sept. 30, as lighter provisions and costs helped offset the impact from the ...

Business - The Wall Street Journal - Yesterday

Fear that winter fuel payment cut will cost lives

Wales' older people's commissioner says people will die because of the decision.

How Trump, Harris propose cutting healthcare costs

The economy and healthcare are two of the top concerns for voters in this election cycle, and both tickets have promised to lower healthcare costs. When she introduced her economic agenda earlier ...

Politics - The Hill - 5 days ago

Historic moment for Volkswagen: Automaker plans to close ‘at least’ 3 German plants and cut thousands of jobs

World - Yahoo News - 2 days ago

Caterpillar’s stock falls as weak equipment sales lead to a rare profit miss

Caterpillar’s stock fell after a rare profit miss, while revenue was below expectations for a fourth straight quarter.

Business - MarketWatch - 2 hours ago

Eni Cuts Profit Outlook on Weak Prices, Lifts Buybacks

Eni lowered its guidance for the year due to a decline in oil prices which also hit the Italian energy major’s third-quarter profits, but said it planned to increase its share buy backs.

Business - The Wall Street Journal - 5 days ago

Harvard donations drop; alums cut ties over anti-Israel protests

Harvard, the nation's richest university, saw donations plunge 15% after campus protests, new report shows.

Politics - The Hill - October 19

It Could Cost OpenAI a Lot to Drop its Nonprofit Structure

Leading AI firm OpenAI is valued at $157 Billion, but turning it into a for-profit company could mean a very expensive, complicated set of legal proceedings.

Business - Inc. - October 14

Here's what a $150,000 HELOC costs monthly now that rates have dropped

A $150,000 HELOC comes with inexpensive monthly payments that could fall in the months ahead. Here's what to know.

PPG to Cut 1,800 Jobs, Shrink Costs With Sale of Architectural-Coatings Biz

PPG agreed to sell its architectural-coatings business in the U.S. and Canada to private-equity firm American Industrial Partners for $550 million, and outlined cost and job cuts.

Business - The Wall Street Journal - October 17

Stellantis to shutter and sell large testing facility amid cost-cutting efforts

Stellantis' Arizona Proving Grounds covers 4,000 acres between Phoenix and Las Vegas in Yucca, Arizona.

Business - CNBC - October 18

Stellantis to sell, shutter large testing facility amid cost-cutting efforts

DETROIT — Automaker Stellantis plans to shutter and sell its large vehicle proving grounds in Arizona at the end of this year, CNBC has learned.

US consumers cut back on spirits as cost of living pressures bite

Drinkers who splashed out during pandemic pull back from vodka, rum and Scotch whisky

Business - Financial Times - October 22

Gallerist Atsuko Ninagawa on how to navigate Tokyo’s art scene

A tour of the city’s cultural highlights with the co-founder and director of Art Week Tokyo

World - Financial Times - Yesterday

Reeves’ Budget measures risk hitting ‘working people’, analysts say

Some businesses will struggle with tax rises alongside a higher minimum wage and new labour laws

World - Financial Times - Yesterday

The Papers: Justice cuts would be 'disaster' and 'special needs crisis'

The Budget to be set out next week and the soaring costs of special needs education lead the papers.

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