Roula Khalaf, Editor of the FT, curates the Unlock the Editor’s Digest, featuring her favorite stories weekly. Volkswagen is planning to close at least three German plants, cut tens of thousands of jobs, and reduce pay by 10%, sparking a battle with unions. Facing pressure from competition, slowing sales, and the shift to electric vehicles, VW warns of the need for drastic measures, as talks with the works council continue amidst threats of strikes.
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Why Mobileye Stock Skyrocketed Today
Mobileye (NASDAQ: MBLY) saw its stock rise 11.6% on Monday due to geopolitical tensions easing after Iran's missile strikes suggested military de-escalation, coupled with Federal Reserve comments hinting at possible interest rate cuts next month. This surge occurred alongside a 0.9% gain in both the S&P 500 and Nasdaq Composite indices. Explain It To Me Like I'm 5: Mobileye's stock went up a lot because some scary things in the world seemed less scary, and...
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