G7 Countries release strategic oil reserves ahead of leaders’ meeting

Several G7 nations have announced the release of strategic oil reserves in response to rising energy prices, ahead of a scheduled leaders’ meeting. Japan and Germany took the initiative to ease market pressures caused by the ongoing Middle East conflict, signaling coordinated action among the world’s largest economies. Japanese......

European gas prices fall sharply as Trump signals Iran war may end soon

European natural gas prices dropped sharply after a surge triggered by the conflict involving the United States, Israel, and Iran, as traders reacted to comments from U.S. President Donald Trump suggesting the war could end in the near future. The benchmark Dutch TTF gas price, the main reference for European gas markets, had nearly doubled......

Volkswagen plans 50,000 job cuts in Germany as profits plunge

Volkswagen plans to eliminate about 50,000 jobs in Germany by 2030 as the automaker accelerates restructuring efforts following a sharp decline in annual profits. The announcement came as the company reported earnings at their lowest level since the 2016 diesel emissions scandal. Chief executive Oliver Blume outlined the plan in a letter......

Mercedes-Benz denies report of China electric platform built with Geely technology

Mercedes-Benz has rejected reports that it is developing a new electric vehicle platform in China based on technology from its partner Geely Auto, calling the claim inaccurate and fabricated. The report, first published on March 4 by Chinese business outlet 36Kr and later circulated across international automotive media, described a project......

Porsche operating profit collapses after costly retreat from electric strategy

Porsche’s operating profit plunged by 98 percent in 2025, falling to just 90 million euros from 5.3 billion euros a year earlier after billions of euros in charges tied to a major shift away from its all electric vehicle strategy wiped out nearly all earnings. The results, released Tuesday as part of Volkswagen’s annual report,......

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