Volkswagen has experienced a decline in its third-quarter margins, reaching the lowest levels since the pandemic.
The company's margin dropped to 3.6%, down from 6.2% the previous year, with core margins falling to 2%. This is due to decreased sales and operating results, leading to plans to close three factories and implement job cuts.
Trade tensions, particularly between China and the European Union, are a concern for the automotive industry. Tariffs on Chinese auto markets and Chinese subsidies for domestic manufacturers are creating challenges for manufacturers. Volkswagen's difficulties highlight the need for efficiency gains and strategic adjustments in the automotive sector.
In contrast, Alphabet, the parent company of Google, has reported strong performance in its cloud division. The company's investments in data centers and chip technology are paying off, leading to a more positive outlook for its search business. Microsoft's Azure platform is also expected to play a crucial role in the implementation of artificial intelligence.
Standard Chartered is navigating a complex economic environment and aims to attract at least 8 million new clients by 2026. The bank has seen a 12% increase in revenue and added 71,000 new clients in the recent quarter. Cost-cutting measures and transformation initiatives are being implemented to enhance efficiency and streamline operations. The bank remains optimistic about its diversification strategy and its ability to navigate the current economic landscape.