Volkswagen employees are taking part in an information and protest event organized by IG Metall in front of the VW plant in Zwickau. Picture Alliance | Picture Alliance | Getty Images Volkswagen shares jumped on Friday after it announced plans to slash a further 50,000 jobs as part of a historic transformation plan amid intensifying…
The board of German car giant Volkswagen has approved a plan to cut another 50,000 jobs as part of the biggest restructuring in the group’s almost nine-decade history. It brings the total number of roles the carmaker plans to shed by 2030 to 100,000, after announcing in March that it would cut 50,000 roles. The…
When energy minister Kgosientsho Ramokgopa said recently that “coal is going nowhere” and that scientists were perfecting technology to burn it cleanly, he was making two promises at once. The first is political: that South Africa will not abandon the resource that still keeps the lights on, nor the communities that mine it. The second…
Long lines formed at gas stations in Tehran Tuesday after the United States announced fresh sanctions aimed at pressuring Iran into submission. Washington has turned to pulling economic levers six months into a war on Iran that has ground to a stalemate militarily, with peace talks stalled and most traffic through the crucial Strait of…
Oil prices fell more than 3% on Tuesday as the U.S. pivots to economic sanctions rather than military strikes to pressure Iran. Brent futures, the international benchmark, dropped 3.9% to close at $88.58 per barrel. U.S. West Texas Intermediate crude lost 3.1% to settle at $82.36 a barrel. Prices have fallen more than 5% this…
House and Senate Republicans on Friday criticized President Donald Trump’s decision to suspend tariffs on ground beef imports, with lawmakers from agricultural states decrying the impact Trump’s decision will have on farmers. Nebraska’s GOP senators, Deb Fischer and Pete Ricketts, said in separate posts on X that Trump’s decision was unwise. “I’m extremely disappointed by…
Africa grows plenty of cotton. It just does not make much of it into clothes. A new $5 billion plan aims to change that, turning a scattered collection of cotton producers into a regional textile industry. The road out of Koudougou in Burkina Faso is lined with cotton fields that stretch toward the horizon, broken only by…
For many South Africans, starting a business can feel out of reach. Manufacturing in particular brings to mind large factories, expensive machinery and a sizeable workforce. Advances in laser technology have changed that, opening the door for entrepreneurs to start manufacturing from home, a garage or a small workshop. Modern laser engraving machines can produce…
Gianni Infantino’s position as world football’s most powerful administrator appeared more secure on Thursday after senior Fifa executives backed him to remain president despite his failed attempt to overhaul the commercial operations behind competitions including the World Cup. Following a meeting with Fifa secretary general Mattias Grafström and members of the organisation’s management board in…
Successfully stopping Gianni Infantino’s FIFA plan to sell World Cup profits to private investors was the first half of a high-stakes game in global soccer politics. The second half kicked off Saturday with what seemed a clear aim of ending Infantino’s decade-long presidency. “No option should be off the table,” said European soccer body UEFA,…
