ECONOMICS

The German giant is simply no longer selling enough cars…

German car manufacturer Volkswagen (VW) could cut up to 30,000 jobs of its 300,000 employees in Germany in a restructuring, according to Manager magazine.

As Liz Heflin reports via Remix News, even VW’s 13,000 employees in research and development in Germany will most likely see cuts of 4,000 to 6,000, with investments slashed by up to €20 billion in the medium term, according to the magazine.

Cost-cutting (more…)

Late last week, the CEO of Flexport – one of largest US supply-chain logistics operators – warned that "the biggest wild card in the presidential election that nobody’s talking about? The looming port strike that could shut down all East and Gulf Coast ports just 36 days before the election.”

With just over a week to go until D-Day, authorities are gearing up as a threatened strike by dockworkers at ports along the East Coast and Gulf Coast draws closer.

The Port Authority of (more…)

After a week full of central bank fireworks, at least there were no surprises from the Bank of Japan last night, which was in focus as it kept policy unchanged, as expected However, after initially rising, the yen tumbled more than 1% after Governor Kazuo Ueda proved less hawkish than many traders expected, especially after his dramatic hawkish pivot back in July when he not only hike rates but signaled an aggressive tightening campaign, crushing the yen carry trade in the process and sparking (more…)