UK government borrowing costs fall as City welcomes ‘no harm’ budget – business live

Pound steady and gilt yields drop as chancellor ‘navigates first budget without spooking gilt markets’, experts say 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 Wol

Pound steady and gilt yields drop as chancellor ‘navigates first budget without spooking gilt markets’, experts say 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...