Economy

Fackledare: VW tänker stänga minst tre fabriker

Union leader: VW intends to close at least three factories

Automaker Volkswagen plans to close at least three factories to cut costs. That's what union representative Daniela Cavallo, who sits on VW's board, said in a speech today according to Bloomberg.

According to Cavallo, tens of thousands of jobs are threatened.

The plans also include a general wage cut of 10 percent and cutbacks at other manufacturing facilities in Germany, according to Cavallo.

- The management is completely serious. This is not saber-rattling as part of the negotiation process, she said in a speech in Wolfsburg in front of several hundred employees.

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The EU finances Slussen - loans for another 3 billion

The European Investment Bank EIB will lend an additional SEK 3 billion to the Slussenbygget in Stockholm. It appears from a press release.

A proposal was already on the table last spring, and today the EIB announces that the financing has been approved. In total, the investment bank has contributed SEK 7 billion to the project.
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The report flood
Scania's order intake plummeted 26 percent in Q3

The vehicle manufacturer Scania's order intake decreased by 26 percent in the third quarter, compared to the same period last year. This is evident from the company's interim year.

This is partly due to a pending truck market in Europe, writes CEO Christian Levin. In addition, order intake in Latin America was limited - despite high demand - to ensure "high quality of our next-generation software platform", it says.

The adjusted operating profit increased by 24 percent on an annual basis and the adjusted operating margin rose from 11.5 to 14 percent.