Volkswagen Faces €1.3bn Loss Due to U.S. Tariffs
The German automaker Volkswagen has reported that U.S. import tariffs imposed under Donald Trump have resulted in losses exceeding £1bn in the first half of the year.
Despite progress in restructuring efforts—including potential job cuts of up to 35,000 by 2030—the company cited a €1.3bn decline in operating profit, largely due to increased costs from higher U.S. tariffs. Volkswagen has also adjusted its projected profit margin for the year to between 4% and 5%, anticipating that tariffs could remain between 10% and 27.5%.
The company, which produces Audi, Seat, Skoda, Lamborghini, Bentley, and Scania trucks, highlights the broader impact on Germany’s automotive sector. Chancellor Friedrich Merz has reiterated calls for Trump to agree on a tariff deal benefiting EU manufacturers.
With negotiations continuing ahead of an August deadline, European firms are increasingly concerned about the economic fallout if no agreement is reached.
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Starlink Disruption Affects Ukrainian Military Operations
A senior Ukrainian commander confirmed that Elon Musk's Starlink satellite internet service, used by military units, experienced a two-and-a-half-hour outage overnight. The disruption was part of a broader global issue caused by an internal software malfunction, leaving tens of thousands of users offline.
Robert Brovdi, head of Ukraine’s drone forces, emphasized the risks of overreliance on the system, urging diversification of communication methods.
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Zelenskyy Denies Discussing Anti-Corruption Law with EU’s von der Leyen
Ukrainian President Volodymyr Zelenskyy refuted claims that he had recent discussions with European Commission President Ursula von der Leyen regarding anti-corruption legislation.
“I have not communicated with Ursula von der Leyen in recent days. Everything reported about it is false,” he stated.
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Russian Drone Strikes Test Ukraine’s Defenses
A sustained Russian bombardment involving drones, decoys, and missiles continues to target Ukrainian cities nightly, raising questions about the country’s resilience amid escalating attacks.
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Digital Breach Causes Freezing Failure in Two French Supermarket Chains
French supermarket chains Intermarché and Cooperative U have experienced a significant cyber-attack that led to the defrosting of their refrigerators, according to statements from the retailers.
Approximately 150-200 Intermarché locations and nearly 100 Cooperative U stores were targeted in the attack, as reported on Monday. Paris prosecutors confirmed
Man Freed from Sardinian Cave After 26-Hour Rockslide Ordeal
A 31-year-old man was rescued alive from a cave on the Italian island of Sardinia after being trapped about 10 meters underground for 26 hours due to a rockslide.
In an extensive and intricate rescue operation, emergency teams worked continuously after Luca Olmetto became trapped in the Gorroppeddu
Marché des Enfants Rouges, Known as Paris' 'Coolest Market,' Ravaged by Fire
A devastating fire has swept through Paris's oldest surviving covered food market, a beloved street food destination in the Marais district. This historical venue, which attracted both locals and tourists daily, dates back to the 17th century.
Ariel Weil, the mayor of central Paris, described the Marché des