Canada's wildfires could continue into fall, says government
Canada is facing its second-worst wildfire season on record, with 7.8 million hectares already burned, and the fires could persist for weeks, accordin...
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.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
A magnitude 5.2 earthquake struck 56 kilometres east of Gorgan in northern Iran early Sunday morning, according to preliminary seismic data.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
Honduras has brought back mask mandates as COVID-19 cases and a new variant surge nationwide.
The Trump administration is expected to shed roughly 300,000 federal workers in 2025, Office of Personnel Management (OPM) Director Scott Kupor said Thursday.
The European Bank for Reconstruction and Development (EBRD) has provided a €500 million loan (almost $590 million) to the national gas company Naftogaz (NAK) for emergency gas purchases for Ukraine.
Bitcoin surged to a new all-time high as expectations grow for U.S. interest rate cuts and regulatory moves favouring crypto investment, boosting investor confidence in the sector.
The U.S. budget deficit surged nearly 20% in July to $291 billion despite a significant increase in customs duty collections from President Donald Trump’s tariffs, as government spending outpaced revenue growth.
The National Carrier of Türkiye, Turkish Airlines has announced an increase in the number of its weekly flights to China.
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