Business

Volkswagen Reports €1.3bn Loss Due to US Import Tariffs The German automaker Volkswagen has stated that import tariffs imposed by Donald Trump’s administration cost it €1.3bn (£1.13bn) in the first half of the year. The company, which is reviewing plans to reduce its workforce by 35,

The chancellor, Rachel Reeves, is reportedly exploring options to mitigate potential losses for major UK lenders by considering a legislative override of the supreme court’s decision, should it uphold a ruling that could expose banks to billions in compensation claims, according to sources familiar with the matter. The debate

UK firms are reducing their workforce at the quickest rate since February due to increased taxes and global instability linked to trade tensions, a key private sector survey reveals. The preliminary S&P Global Purchasing Managers’ Index (PMI) for July indicated a drop in new orders, leading to job

The European Central Bank left interest rates unchanged during its July meeting, as data indicated the eurozone economy continued to expand at a slow rate. The Frankfurt-based institution, in a move widely anticipated as a temporary stop before potential reductions later this year, opted against lowering borrowing costs, keeping the

River Island Faces Potential Collapse Without Rent Cuts and Store Closures River Island has warned it may not survive unless landlords agree to a restructuring plan that includes shutting 33 locations and significantly reducing rent payments. New documents reveal the retailer urgently requires £10 million by mid-September, with potential funding

British car and van production fell sharply in the first half of the year, reaching its lowest level since 1953 outside the pandemic period, amid disruptions caused by U.S. trade policies. Data from the Society of Motor Manufacturers and Traders (SMMT) reveals that vehicle manufacturing in the UK dropped