Volkswagen confirms 100,000 job cuts by 2030 in sweeping restructuring
Volkswagen has announced plans to cut 100,000 jobs by the end of the decade as part of a major restructuring of its business. The German carmaker said the move comes amid pressure from US tariffs and intense competition from Chinese rivals. It also said the number of models it produces will be reduced by half, while up to four plants in Germany could face closure.The company said management and unions had agreed to the plan, which includes a further reduction of about 50,000 jobs by 2030 on top of 50,000 already agreed. Volkswagen said the supervisory board had unanimously approved... [Continue Reading]
360LiveNews | 03 Sep 2026 23:29 LONDON
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Russia raises utility tariffs again, adding to inflation pressure
Russia will raise utility tariffs by an average 15% from 1 October, in a move that is expected to add to inflation pressure in an economy already strained by war costs and sanctions. The increase is the second this year and will affect households across the country, with regional rises ranging from 8% to 22%. Moscow tariffs will rise by 15%, while St Petersburg will see an increase of 14.6%.The Bank of Russia has said the tariff rise will contribute noticeably to faster annual inflation. Its baseline forecast puts inflation at 6% to 7% in 2026, well above the central... [Continue Reading]
360LiveNews | 02 Sep 2026 10:33 LONDON
G20 finance talks end in North Carolina amid dispute over Russia's presence
G20 finance leaders have ended a two-day meeting in Asheville, North Carolina, with most members backing the chair's statement despite disagreement over Russia's attendance. The United States said the presence of Russian Finance Minister Anton Siluanov did not affect the talks, while European allies voiced frustration at the optics of welcoming him at a US-hosted gathering. The meeting also took place against the backdrop of the war in the Middle East and US President Donald Trump's tariffs.US Treasury Secretary Scott Bessent said the fact that nearly all participants agreed to the chair's statement showed there had been no impact from... [Continue Reading]
360LiveNews | 02 Sep 2026 05:35 LONDON
US presses G20 to curb trade imbalances and Chinese import pressure
US Treasury Secretary Scott Bessent has urged fellow G20 finance chiefs to take stronger steps to protect their economies from Chinese imports. His remarks came during a two-day meeting in Asheville, North Carolina, where officials were also discussing wider concerns about debt and inflation. The comments placed trade imbalances and industrial policy at the centre of the gathering.Bessent said he had warned trading partners last year that higher US tariffs could push more Chinese goods into other markets. He told the meeting that some economies now needed to take a harder look at how to protect jobs and domestic industries.... [Continue Reading]
360LiveNews | 02 Sep 2026 00:02 LONDON
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Canada and US trade tensions escalate as Carney warns Washington to take talks seriously
Canadian Prime Minister Mark Carney has said trade talks with the United States can only move forward if Washington takes the dispute more seriously. Speaking in Ottawa, he said US officials should stop what he described as mocking and dismissive behaviour and focus on substantive negotiations. His comments came as the two countries remain locked in a tariff dispute that has widened into a broader political confrontation.The latest escalation followed the collapse of negotiations on 22 August, when the United States imposed 50% tariffs on roughly $20bn worth of Canadian goods. Canada has said it will respond with retaliatory tariffs... [Continue Reading]
360LiveNews | 01 Sep 2026 21:59 LONDON
Israeli forces demolish West Bank homes as settlers attack Burqa residents
Israeli forces have demolished homes in Birzeit and Nablus in the occupied West Bank, while settlers attacked Palestinians in the village of Burqa, according to the supplied report. The incidents took place on Monday and were described as part of a wider escalation of violence in the territory. The demolitions and attacks occurred in separate locations but formed part of the same day's unrest.In Birzeit, north of Ramallah, soldiers demolished two residential buildings, saying they did not have the required building permits. In Nablus, Israeli forces used a bulldozer to raze a two-storey house and a three-storey building that was... [Continue Reading]
360LiveNews | 01 Sep 2026 07:00 LONDON
Google updates US maps to show Lake America as border row continues
Google has updated its maps for users in the United States to show Lake America instead of Lake Ontario, following Donald Trump's order to change the lake's name. The company said users in Canada will continue to see Lake Ontario, while people outside North America will see both names. The change is now starting to roll out, according to the company's statement.The update comes days after Trump signed an executive order renaming the lake, and it follows a similar approach the company took in 2025 when he ordered the Gulf of Mexico to be renamed the Gulf of America. Google... [Continue Reading]
360LiveNews | 31 Aug 2026 05:04 LONDON
