Premier owner Whitbread says budget business rate measures ‘will do much to mitigate’ damage of past two budgets to hospitality sector Volkswagen has slumped to its biggest loss in more than a decade in the latest quarter, as Germany’s largest carmaker suffered from falling sales in China . The Wolfsburg-based carmaker lost €4.2bn (£3.5bn) before tax between July and September, the highest since the end of 2015, it said on Thursday. Its operating loss was €5.8bn, driven by a previously announced impairment of €6.4bn on its stake in the Porsche sportscar subsidiary, and another €1bn on its Chinese operations. An 11% higher European order book and Audi recovery underpin the 4Q improvement and bode well for 2027 as restructuring savings build, helping offset China weakness, BEV [battery electric vehicle] mix margin dilution, rising costs and negative pricing. Continue reading...
UK government borrowing costs fall as City welcomes ‘no harm’ budget – business live
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