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Volkswagen warns of more cost cuts as profits plunge

Volkswagen warns of more cost cuts as profits plunge

Volkswagen's future is at risk without further cost cuts, the ailing German auto giant warned Thursday after profits plunged more than feared as headwinds mount. Europe's biggest carmaker is struggling with Chinese competition, US tariffs and patchy demand for electric vehicles, and already has plans to

Germany halves 2026 growth forecast on Iran war fallout

Germany halves 2026 growth forecast on Iran war fallout

The German government Wednesday halved its 2026 growth forecast due to the Middle East war energy shock, while vowing to step up reform efforts as criticism grows they are moving too slowly. Gross domestic product (GDP) in Europe's biggest economy is expected to expand 0.5 percent in

Lufthansa accelerates cost cuts, closing subsidiary, as fuel prices surge

Lufthansa accelerates cost cuts, closing subsidiary, as fuel prices surge

Lufthansa said Thursday that it was accelerating savings plans by closing a regional subsidiary as the German aviation giant struggles with surging fuel costs due to the Iran war and a wave of labour strikes. The group also said it would reduce capacity on long- and short-haul routes after

European Central Bank warns of major hit from Mideast war

European Central Bank warns of major hit from Mideast war

The European Central Bank warned Thursday that the energy shock unleashed by the Middle East war would sharply push up inflation and hit the eurozone's growth this year. The ECB kept borrowing costs on hold as expected but President Christine Lagarde dropped typical language that rates were in

Central banks meet as Mideast war fuels inflation fears

Central banks meet as Mideast war fuels inflation fears

Some of the world's biggest central banks meet this week as fears grow the energy shock unleashed by the Middle East war could fuel inflation and weigh on growth. The US Federal Reserve, European Central Bank, Bank of England and Bank of Japan hold previously scheduled meetings on

German defence giant Rheinmetall sees business boost from Mideast war

German defence giant Rheinmetall sees business boost from Mideast war

German arms maker Rheinmetall said Wednesday the Middle East war offered new business opportunities, especially for its air defence systems, as it forecast continued strong growth this year. The conflict began with US-Israeli strikes on Iran in late February that triggered retaliatory Iranian attacks across the region, sparking turmoil

Mideast war is heightening uncertainty, Lufthansa warns

Mideast war is heightening uncertainty, Lufthansa warns

German aviation giant Lufthansa warned Friday it faced a more uncertain outlook because of the unfolding Middle East conflict, and that the fallout showed how vulnerable air traffic remains to geopolitical shocks. The war -- which began last weekend with US-Israeli attacks on Iran, triggering retaliatory strikes from the Islamic