Volkswagen (VW) plans to shut at least three factories in Germany, lay off tens of thousands of staff and shrink its remaining plants in Europe's biggest economy as it plots a deeper-than-expected overhaul, the company's works council head said on Monday.
Europe's biggest carmaker has been negotiating for weeks with unions over plans to revamp its business and cut costs, including considering plant closures on home soil for the first time, in a blow to Germany's industrial prowess.
Volkswagen reiterated on Monday that restructuring was needed and said it would make concrete proposals on Wednesday.
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Denne historien er fra October 29, 2024-utgaven av Business Standard.
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Markets dip amid selloff in Adani group stocks
Conglomerate's combined market capitalisation falls by 2.2 trillion
Nifty 50 may hit 27K by 2025-end: Goldman Sachs
Conglomerate's combined market capitalisation falls by ₹2.2 trillion
°GST on health insurance needs to be reduced,
IFFCO Tokio General Insurance Company Limited (IFFCO Tokio) has sent its suggestions to the government, seekingto reduce goods and se Nices tax (GST) rates on health insurance premiums to 5 per cent from the existing18 per cent, said the f Irm's Managing Director and Chief Executive 0ff\cer (MD and CEO) SUBRATA MONDAL in an inte Niew with Harsh Kumar in Gurugram. Mondal discussed the future plan of insurance companies alongwith emerging challenges forthe sector. Edited excerpts:
Draft guidelines to upgrade 1,000 ITIs in the works
Talks with stakeholders for proposed scheme completed
Adani Green abandons $600 mn bond offering
Adani Green Energy on Thursday announced it has decided not to proceed with the proposed USD-denominated bond offering, hours after US prosecutors charged Gautam Adani, his nephew and six others over allegations of bribery.
Corporate irregularities can impact economy at large: Justice Kumar
Financial misconduct and corporate irregularities can impact the economy at large and come at the expense of shareholders and banks, cautioned Justice PS Dinesh Kumar, presiding officer of the Securities Appellate Tribunal (SAT), on Thursday.
Quant MF's big Adani bet may have sense of deja vu
Quant mutual fund (MF) may have taken the biggest hit among fund houses from the slump in Adani group shares on Thursday.
US charges: Legal experts see no knee-jerk response from Sebi
The Securities and Exchange Board of India (Sebi) may not be in haste to take any action on the charges levelled by the US prosecutors on Adani group executives, according to legal experts.
Premium Valuations may cap upsidesforlndian Hotels
Indian Hotels (IH) has an ambitious strategy of doubling its hotel portfolio and is aiming for a 14 per cent annual revenue growth. The goals are achievable, given financial discipline and agility.
Vedanta Resources defers dollar bond issue due to mkt volatility
Billionaire Anil Aggarwal's Vedanta Resources has deferred the company's $1.2 billion bond issuance following volatility in the market after US justice department, in a report, charged Gautam Adani and others with $250 million bribery. The Vedanta dollar bond issue was to be priced on Thursday.
