LASG APPRECIATES RESIDENTS PATIENCE AND UNDERSTANDING AS REHABILITATION WORKS PROGRESS ON LEKKI-EPE CORRIDOR.(PHOTO).#PRESS RELEASE..

-
Image
The Lagos State Government acknowledges the traffic challenges experienced by motorists on the Lekki-Epe Corridor due to ongoing rehabilitation works. The government appreciates residents' patience and understanding and assures that every effort is being made to expedite project completion. The State Government is committed to enhancing infrastructure and improving traffic flow.  Motorists are urged to plan their movement accordingly and explore alternative routes provided to minimize disruptions. Updates on project progress will be communicated regularly.  Sinned; Mr. Oluwaseun Osiyemi,  Lagos State Commissioner for Transportation.
Post a Comment

VOLKSWAGEN TO CUT 50,000 JOBS AS PROFITS DECLINE. (PHOTO).

-


 Volkswagen to cut 50,000 jobs as profits decline

Germany’s automotive giant Volkswagen said Tuesday it will cut 50,000 jobs in Germany by 2030 as profits fell to their lowest level in nearly a decade. The reduction comes as the 10-brand group faces Chinese competition, U.S. tariffs, and high costs.

CEO Oliver Blume said the cuts will affect Volkswagen’s main brand, as well as Audi, Porsche, and its software subsidiary Cariad. The company had already agreed to cut 35,000 jobs at Volkswagen by 2030 as part of plans to save 15 billion euros ($17.4 billion) annually.

Volkswagen has struggled with stagnant demand in Europe, the high cost of electric vehicle investment, and falling sales in China, where local rivals BYD and Geely have overtaken the company. Blume said that Chinese automakers entering the European market will increase price pressure and that the company must intensify cost management.

Earnings after tax fell about 44% last year to 6.9 billion euros ($8 billion), the lowest since 2016, affected by U.S. tariffs, Chinese competition, and costly investments in Porsche. Blume described the situation as a decisive break for the German automotive industry, saying the traditional business model is no longer viable and Volkswagen must compete with emerging rivals.

For 2026, the company expects a core profit margin of 4% to 5.5%, potentially lower than the 4.6% achieved this year after restructuring and Porsche-related costs. Volkswagen has extended the production of gas-powered Porsche vehicles amid slow EV demand, despite European CO2 regulations.

Blume said geopolitical events, including the Middle East conflict, have limited impact, though sales in Ukraine, Russia, the U.S., and China have recently declined.


Comments

Post a Comment

Popular posts from this blog

INNOSON GIVES OUT BRAND NEW IVM G5 AND SALARY FOR LIFE TO THE MAN WHO PROPHESIED ABOUT HIS VEHICLE MANUFACTURING IN 1979.(PHOTO).

-
Image
Innoson Gives Out Brand New IVM G5 and Salary For Life To The Man Who Prophesied About His Vehicle Manufacturing In 1979.  Last Saturday, July 22nd the Chairman of Innoson Vehicle Manufacturing Company Ltd, Chief Dr Innocent Ifediaso Chukwuma OFR gave out a brand new Innoson IVM G5 to Mr Ikechukwu Osakwe popularly known as Osabros who prophesied to him in 1979 that he would be the first man in Africa to manufacture vehicles and sell to different African countries.  The prophecy was given at the period the then Innocent Chukwuma could not boast of a car, talk less of manufacturing one. According to Dr Chukwuma during the presentation of the car, he recalled on how Mr Ikechukwu Osakwe all the way from Kano blocked him at the front of his house early in the morning and told him he has a message for him.  Mr Osakwe went on to narrate a dream he had about him, how he saw in the said dream his vehicle manufacturing company known as CAP PLC. "He told me that CAP means Chukwuma ...
Read more

SHAKIRA COVERS WOMEN'S HEALTH MAGAZINE,APRIL ISSUE.

-
Image
             Gerard Pique,welcomed their first child into the world last year January.Shakira told the magazine that ''I think it takes two to keep it passionate in relationships,a lot of laughter and a lot of fun moments together,that's essential but also affinity,you know.You have to be compatible.I'm really happy where i am right now,with the person that i'm with right now.He seems to want the same things i want,and that's very important''.More pictures below.                                                                                                                    
Read more

AMBODE,SOYINKA & OTHERS AT THE OFFICIAL LAUNCH OF LAGOS AT 50 YEARS ANNIVERSARY AGAINST 2017.{PHOTOS}.

-
Image
                Lagos State Governor,Mr Akinwunmi Ambode on friday officially launched the one year long activities to mark the 50 years anniversary of the State which will climax on May 28,2017,just as he said the activities lined up would showcase to the world the unique achievements,culture,heritage and the tourism potentials of the state.Governor Ambode,who spoke at a special children programme tagged ''Vision of the Child'' to officially kick start the one year long activities for the Golden Jubilee of the State,said the celebration was put together to provide historical opportunity to propel the State into unimaginable greatness as well as put it on highest pedestal in the league of the world megacity states.The Governor,who assured that the events would be the biggest celebration in the 50 years history of the state,added that Lagosians should expect nothing short of world class events.He said ''This golden jubilee celebration will show Lag...
Read more