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BMW targets margin recovery with cuts and local production

BMW targets margin recovery with cuts and local production

By Christina Amann and Rachel More MUNICH, Sept 30 (Reuters) - German premium carmaker BMW will set out plans for more local production as it seeks to rebuild margins after a series of profit warnings tied to weak performance in China, Bernstein analysts said on Wednesday.
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Factbox-Key points of BMW's strategy update

Factbox-Key points of BMW's strategy update

FRANKFURT, Sept 30 (Reuters) - BMW is holding a two-day capital markets event to brief investors about the premium carmaker's strategy, the first for new CEO Milan Nedeljkovic, who took over in May.
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Angry VW union to ratchet up dispute after labour deals cut short

Angry VW union to ratchet up dispute after labour deals cut short

By Rachel More HANOVER, Germany, Sept 30 (Reuters) - Volkswagen terminated several wage deals with IG Metall on Wednesday, raising the possibility of strikes at the start of next year as Germany's top industrial union vowed to escalate its dispute with the world's second-largest automaker.
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German union threatens retaliation as Volkswagen plans termination of wage agreements

German union threatens retaliation as Volkswagen plans termination of wage agreements

By Rachel More HANOVER, Germany, Sept 30 (Reuters) - Germany's top industrial union IG Metall threatened an escalation in its dispute with Volkswagen over German job cuts on Wednesday, after the carmaker said it plans to terminate a number of wage agreements, according to a union statement.
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European shares muted as oil and bond pressures offset UK homebuilder rally

European shares muted as oil and bond pressures offset UK homebuilder rally

By Sudeshna Ghoshal and Purvi Agarwal Sept 28 (Reuters) - European shares were little changed on Monday as a rally in British homebuilders was offset by higher oil prices and elevated bond yields, which dampened risk appetite.
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Shares of fast-fashion's Shein plunge 14% to record low after profit slides

Shares of fast-fashion's Shein plunge 14% to record low after profit slides

HONG KONG, Sept 29 (Reuters) - Shares of fast-fashion retailer Shein tumbled as much as 14% on Tuesday after it reported a 67% fall in quarterly profit in its first post-IPO results, fuelling investor concerns over margin pressure and slowing growth.
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Ford's CEO urges caution on Chinese automakers, says Europe is 'too late'

Ford's CEO urges caution on Chinese automakers, says Europe is 'too late'

By Kalea Hall and Mike Colias Sept 29 (Reuters) - Ford CEO Jim Farley said that the US must carefully weigh how and whether Chinese automakers should enter the American market, and pointed to Europe as a cautionary tale.
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China's Gotion invests $1.25 billion in Volkswagen battery plant in Spain

China's Gotion invests $1.25 billion in Volkswagen battery plant in Spain

(changes "bln" to "billion" in headline) BERLIN, Sept 28 (Reuters) - China's Gotion will invest €1.1 billion ($1.25 billion) in Volkswagen's battery plant in Valencia, Spain, becoming a major investor in the site under a broader plan to jointly develop a European battery supply chain.
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Patients switching to Novo Nordisk's Wegovy pill from shots lose more weight in real-world study

Patients switching to Novo Nordisk's Wegovy pill from shots lose more weight in real-world study

By Patrick Wingrove Sept 30 (Reuters) - Patients who switched from weight-loss injections to Novo Nordisk's daily Wegovy pill continued to lose weight, according to data unveiled at a medical meeting on Wednesday, as the Danish drugmaker seeks to defend its lead over US rival Eli Lilly in the market
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Bonds set for bruising September, but stocks remain resilient

Bonds set for bruising September, but stocks remain resilient

By Danilo Masoni and Rae Wee MILAN/SINGAPORE, Sept 30 (Reuters) - Global bonds inched higher on Wednesday but were set for their worst month in years, hit by a mix of deteriorating government finances, a glut of debt issuance and rising inflation as the seven-month-old US-Israeli war on Iran keeps
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Senate Republican says Chinese vehicle bill will not ban Mercedes-Benz in US

Senate Republican says Chinese vehicle bill will not ban Mercedes-Benz in US

By David Shepardson WASHINGTON, Sept 29 (Reuters) - A sponsor of a bill to toughen a US government ‌ban on Chinese vehicles said on Tuesday that talks are ongoing to ensure that German automaker Mercedes-Benz is not banned from selling vehicles in the US.
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Analysis-From pickups to idle plants: automakers seek lifeline from defence boom

Analysis-From pickups to idle plants: automakers seek lifeline from defence boom

By Nick Carey, Gilles Guillaume and Kalea Hall LONDON/PARIS/DETROIT, Sept 28 (Reuters) - Western automakers are chasing a defence spending boom as a way to sell more vehicles and make use of underemployed factories, though executives say military work will not make up for slowing car sales and