Companies
Corporate strategy, restructurings, management changes, and operating updates.
Volkswagen sales plunge as German automaker lays out plan to slash number of brands
Volkswagen reported an 8.6% drop in second-quarter 2026 deliveries and said it will streamline its model lineup by up to half as China sales slump and restructuring pressure builds.
Xavier Niel becomes Vodafone's largest shareholder
Xavier Niel has agreed to buy e&'s 16.2% stake in Vodafone through his vehicle Vega, making him the telecom group's largest shareholder if the deal closes. Vodafone says Vega does not intend to make a full takeover offer, while e& is giving up its board seat.
Capita warns pension-scheme failures will cut 2026 profit by up to £40m
Capita has warned that failures in its Civil Service Pension Scheme work will reduce 2026 adjusted operating profit by up to £40m and cash flow by up to £50m, as the government withholds payments and seeks to recover public costs.
Volkswagen seeks to halve model lineup and shrink capacity to cut costs
Volkswagen is reported to be planning a sweeping restructuring that would cut its model lineup by up to half and reduce global production capacity to 9 million vehicles a year.
FuboTV names Alisa Bowen CEO as David Gandler exits
FuboTV named former Disney streaming executive Alisa Bowen as chief executive officer effective July 10, replacing co-founder David Gandler after Disney’s Hulu + Live TV deal left it with majority ownership.
Spanish plants brace for Volkswagen restructuring fallout
Volkswagen’s restructuring plan is putting Spanish plants on alert as workers and managers watch for changes to future model allocation, including a second electric platform for Martorell.
Civil service pension chaos deals Capita profits blow
Capita said problems on its civil service pension contract will cut 2026 adjusted operating profit by £25 million to £40 million and cash flow by £35 million to £50 million, deepening the impact of the service failure on the business.
Ohio-based auto parts supplier building $127M manufacturing plant in Seguin
KTH Texas plans a $127 million manufacturing plant in Seguin, with at least 125 jobs by 2030 and more than $3.6 million in city incentives.
VW faces protests in Germany over proposed job cuts and factory closures
Volkswagen is facing protests across Germany over a reported restructuring plan that could cut up to 100,000 jobs and close several German factories. The proposal is still under supervisory-board review, and union opposition is mounting.
PM Modi inaugurates India's first greenfield integrated refinery-cum-petrochemical complex in Rajasthan
Prime Minister Narendra Modi inaugurated India’s first greenfield integrated refinery-cum-petrochemical complex at Pachpadra in Rajasthan on July 4, part of a broader package of development projects worth about ₹1.06 lakh crore.
PM Modi launches Rajasthan refinery complex, unveils Rs 1.06 lakh crore projects
Prime Minister Narendra Modi inaugurated India’s first greenfield integrated refinery-cum-petrochemical complex at Pachpadra in Rajasthan on July 4 and unveiled a broader development package worth about Rs 1.06 lakh crore. The visit also included the Jodhpur airport terminal, a modified UDAN launch and other projects, with the refinery coming after a delay tied to a fire in the crude distillation unit.
PM Modi inaugurates Rajasthan's first BS-VI refinery at Pachpadra
Prime Minister Narendra Modi inaugurated the HPCL Rajasthan Refinery at Pachpadra on July 4, formally commissioning Rajasthan's first BS-VI-compliant refinery after a fire-related delay.
Container manufacturing scheme aims for 10x rise in domestic capacity: Sarbananda Sonowal
Union shipping minister Sarbananda Sonowal said India’s Container Manufacturing Promotion Scheme is aimed at a tenfold rise in domestic container capacity, with reports also saying Maersk ordered 1,000 India-made units.
Andhra Pradesh CM launches JSW's Rs 16,350 crore steel plant in Kadapa
Andhra Pradesh Chief Minister N. Chandrababu Naidu launched construction of JSW’s Rs 16,350 crore Rayalaseema Integrated Steel Plant in Kadapa district, with the project seen as a major industrial investment for the region.
Sonowal unveils first Made in India EXIM shipping container, Maersk orders 1,000 of them
India unveiled its first domestically made EXIM shipping container on July 3, with A.P. Moller-Maersk reportedly ordering 1,000 units as the government pushes domestic container manufacturing.
UK electric vehicle sales jump to 30% of the market in June
UK new electric-car registrations reached a record 30% share in June, according to New AutoMotive data cited by multiple reports. The surge came as petrol prices rose, more EV models reached buyers and the government kept reviewing the ZEV mandate.
Transurban to repay drivers overcharged on Melbourne tollways
Transurban says motorists overcharged on CityLink and the West Gate Tunnel in Melbourne will be repaid automatically after a vehicle-classification error. ABC reported about 90,000 vehicles may have been affected across roughly 1.4 million trips.
Victorian toll customers to receive refunds after misclassification error
Transurban says about 90,000 vehicles may have been misclassified on Victorian toll roads, affecting about 1.4 million trips on CityLink and the West Gate Tunnel. Affected customers will be contacted and refunded automatically, with no action required.
Maruti Suzuki inaugurates Kharkhoda plant, expanding India auto capacity
Maruti Suzuki virtually inaugurated its Kharkhoda plant in Haryana, adding 500,000 units of annual capacity at launch and outlining a path to 1 million vehicles a year. The project is tied to a reported Rs 35,000 crore investment and more than 21,000 jobs.
Northern Star appoints Glencore executive Suresh Vadnagra as next CEO
Northern Star Resources has named Glencore executive Suresh Vadnagra as its next chief executive, with Stuart Tonkin to step down in October and chairman Michael Chaney also due to exit later this year. The leadership reset comes amid continuing pressure from Elliott Investment Management.
Northern Star Names Glencore's Suresh Vadnagra Next CEO
Northern Star Resources said Glencore executive Suresh Vadnagra will become chief executive in October, replacing Stuart Tonkin amid activist pressure from Elliott Investment Management.
KNDS postpones IPO after investors balk at valuation
KNDS has postponed its planned dual listing in Frankfurt and Paris after investors resisted the valuation sought by shareholders, delaying one of Europe’s biggest defence-sector flotations.
Coles blocked from opening second Kalgoorlie supermarket by ACCC
The ACCC has blocked Coles’ plan to open a second full-line supermarket and liquor store in Kalgoorlie-Boulder, saying the deal would likely substantially lessen competition. Coles disagrees and says the regulator underestimated local growth and demand.
ACCC blocks Coles from opening second Kalgoorlie supermarket
The ACCC has blocked Coles from opening a second supermarket and liquor store in Kalgoorlie-Boulder, Western Australia, saying the plan would likely substantially lessen competition and could force an independent rival out of the market. Coles said the decision denies shoppers more choice and convenience and said it will review its next steps.