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......
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......
Volkswagen reported a sharp decline in profits for 2025, with operating earnings falling by more than half as U.S. tariffs and intensifying competition in China weighed on the German automaker’s performance. The company said it expects only a modest recovery in 2026 as it adapts to what executives......
U.S. stock markets recovered sharply late in the trading session after President Donald Trump suggested the war involving the United States and Israel against Iran could soon come to an end, easing some of the pressure from an energy shock that had shaken global markets earlier in the day. Oil prices......
Agricultural markets rose sharply Monday as crude oil prices climbed above $100 per barrel, driven by the escalating conflict involving Iran and disruptions to energy supply routes. The surge in oil prices has triggered ripple effects across global food markets, increasing fertilizer costs and boosting......
India's billionaire population climbed to 308, an increase of 24 from the previous year. The Hurun Global Rich List 2026, released Saturday, places the country third worldwide behind the United States and China. This expansion reflects sustained wealth creation amid strong economic momentum and robust......
Inflation in China accelerated in February, reaching its highest level in three years, while producer prices continued their downward trend, highlighting mixed signals within the country’s economic recovery. According to data released by the National Bureau of Statistics of China, the Consumer......
Oil prices have surged to levels not seen since 2023 following eight days of conflict in the Middle East. Investors are increasingly concerned as disruptions to oil flows from the Gulf region continue, fueled by tensions in the Strait of Hormuz. The West Texas Intermediate (WTI) benchmark closed at......
The number of foreign self-employed workers in Spain has surpassed a historic milestone, exceeding 500,000 registered contributors to the national Spanish Social Security System for the first time. According to figures released by the Ministry of Labour and Social Economy of Spain, the country currently......
China’s top economic planning body has announced plans to curb excess production capacity in major heavy industries, including steel and oil refining, as the country continues to struggle with persistent overproduction across key commodity sectors. The National Development and Reform Commission......
Chinese automaker BYD posted strong sales growth across major European markets in February 2026, reinforcing its expansion on the continent while narrowing the gap with Tesla. The increase comes as the company continues to strengthen its presence in Europe despite weaker performance in its domestic market. In......
Elon Musk has reclaimed the title of the world’s richest person for the fifth time in six years, according to the Hurun Global Rich List 2026. The Tesla and SpaceX chief now holds an estimated fortune of $792 billion, marking an annual increase of 89 percent and making him the first individual......
Authorities in the United States and Venezuela are reviewing dozens of confidential oil agreements signed during the rule of former leader Nicolás Maduro, according to Bloomberg, as part of an investigation that could complicate efforts to revive the country’s struggling oil sector. The......
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