AGP Executive Report
Last update: 9 hours agoVolkswagen: A €5.86bn third-quarter operating loss, driven by Porsche writedowns, restructuring costs and falling sales in China, has prompted a fresh push to cut costs. The company says it must act quickly to protect investment in future technology. Rates and Markets: The ECB held its deposit rate at 2.5% as rising energy prices cloud the outlook for inflation and growth. Markets rallied, while Christine Lagarde’s early departure adds uncertainty over the bank’s leadership. German Companies: Adidas reported 9% revenue growth and a 47% jump in quarterly profit, though Europe remained a weak spot. Deutsche Bank also posted a record profit, pointing to a possible recovery at home. Trade and Industry: Berlin is looking to deepen technology and critical-minerals ties with Japan, even as President Steinmeier’s China visit underscored the importance of industrial links with Beijing.
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