Volkswagen announced plans to cut an additional 50,000 jobs as part of its Future Plan 2030, a major restructuring effort to address rising tariff costs, global competition, and changing market demands. This move adds to 50,000 previously approved cuts, totaling 100,000 job reductions, and includes streamlining leadership and simplifying its model lineup by 50% by 2035. The announcement boosted Volkswagen's shares, reflecting investor approval of the cost-cutting strategy amid challenges from Chinese competitors and tariff hikes. Analysts view this as a significant step toward Volkswagen's long-term competitiveness and expect it to influence the broader German auto industry.
A Bitcoin address inactive since 2011 transferred 40 BTC valued at about $3.1 million, linked to a New York lawsuit claiming ownership of 39,069 allegedly abandoned wallets. The move proves control of the private key but does not confirm legal owners...
Fiinu, a UK fintech company, saw its shares rise over 6% after its Plugin Overdraft platform entered production following a revised agreement with Conister Bank. The updated deal sets a new timeline and commercial framework for launching a proof-of-c...
Tesla began offering rides in its new two-seat Cybercab in Austin, Texas, marking its first vehicle designed solely for autonomous driving without manual controls. The launch event was low-key, with no live footage or executive speeches, and the vehi...
RBC Capital Markets reaffirmed its 'outperform' rating on Oxford BioMedica, despite clinical trial pauses by partners Novartis and BMS. The broker views the trial halts as having limited financial impact, with only £10-16 million in annual clinical r...
On September 3, Bitcoin spot ETFs attracted $731 million in net inflows, with BlackRock's IBIT fund leading at $454 million, highlighting robust institutional interest in regulated crypto products. Ethereum spot ETFs also gained $141 million, showing...
