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Germany’s far-right Alternative for Germany (AfD) has scored a major electoral breakthrough in Saxony-Anhalt, finishing first with nearly 44% of the vote and putting Chancellor Friedrich Merz’s conservatives under renewed pressure over their refusal to cooperate with the party.
Volkswagen CEO Oliver Blume is facing growing opposition from workers and unions as he pushes a sweeping restructuring plan that could eliminate up to 100,000 jobs and reduce costs across the German automaker.
Volkswagen CEO Oliver Blume has warned that the German automaker is facing a “more than critical” situation as it battles weak demand, overcapacity and growing competition from Chinese manufacturers. The company is considering major cost-cutting measures and job reductions, while plant closures remain under discussion.
US Iran war LIVE updates: The IRGC has claimed that American naval forces “lack the courage to approach the Persian Gulf”, asserting that the Strait of Hormuz remains under complete Iranian control. This comes in response to Donald Trump saying that the US had “completely decimated” Iran's navy.
Uttar Pradesh Chief Minister Yogi Adityanath has announced that appointment letters will be issued to one lakh young people over the next six months, highlighting the state government's recruitment drive and employment initiatives.
The European Central Bank has warned that a surge in debt issuance by major US technology companies to finance AI data centres could eventually compete with European government bonds for investors, potentially driving borrowing costs higher.
The United States remains the world’s strongest financial centre, while the UK and Hong Kong continue to dominate specific areas of banking and capital markets, according to a decade-long analysis by New Financial.
Volkswagen is embarking on one of the biggest transformations in its history, combining around 100,000 cumulative workforce reductions with a sharply smaller model portfolio as it battles rising competition, excess capacity and weak profitability.
