Philippines Hit by 6.9 Magnitude Quake
At least five people have died following a magnitude 6.9 earthquake that struck the Philippines on Tuesday, authorities report....
Volkswagen cut its 2025 forecast after U.S. tariffs slashed €1.3 billion from profits, but strong EV demand and European sales offer signs of recovery.
Volkswagen Group has lowered its financial guidance for 2025 after U.S. import tariffs led to a €1.3 billion decline in income during the first half of the year. The carmaker reported an operating result of €6.7 billion for the first six months of 2025, marking a 33 percent drop compared to the same period last year.
Sales revenue remained relatively flat at €158.4 billion. The company said the drop in profit was due to the tariffs, €700 million in restructuring costs, and a higher volume of lower-margin electric vehicle sales.
CFO and COO Arno Antlitz stated that, when excluding these factors, the second-quarter operating margin was close to 7 percent, which he described as the upper end of internal expectations.
Volkswagen is also facing pressure to reduce costs after reporting a negative net cash flow of €1.4 billion during the same period. Despite the financial strain, Volkswagen’s shares rose more than 3 percent by midday Friday in European trading.
While U.S. sales fell by 16 percent due to tariffs, a 19 percent increase in South America and steady growth across Western and Eastern Europe helped offset the decline. In the European Union, where new car sales dropped by 1.9 percent overall in the first half of 2025, Volkswagen’s sales rose by 2.3 percent, driven by strong demand for Volkswagen, Skoda, and Cupra models.
The automaker also reported a 62 percent increase in electric vehicle orders. CEO Oliver Blume said the company holds a 28 percent market share in Europe’s EV segment and noted that order books remain strong.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
A powerful 7.4-magnitude earthquake struck off Russia’s Kamchatka Peninsula on 13 September with no tsunami threat, coming just weeks after the region endured a devastating 8.8-magnitude quake — the strongest since 1952.
U.S.-based aviation company Boeing is preparing to produce a new narrow-body, single-aisle aircraft to replace its 737 Max model, sources report.
The Organization of Petroleum exporting countries OPEC+ is likely to consider a larger oil production increase of 411,000 barrels per day for November at its meeting next Sunday as rising oil prices encourage the group to try to regain more market share, said sources familiar with the talks.
Chinese electric vehicle manufacturer BYD Co expects exports to account for around 20% of its global sales this year, supported by the launch of new models, the South China Morning Post reported on Monday.
Italy’s ruling League party has said domestic banks should contribute around €5 billion ($5.85 billion) towards the 2026 budget.
U.S. stock markets ended higher on Friday, following largely in-line inflation figures, although indices recorded losses over the week.
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