Porsche SE expects $21.7 billion loss after tax on Volkswagen stake impairment

FRANKFURT (Reuters) – Porsche SE, Volkswagen’s largest shareholder, expects a 2024 loss after tax of around 20 billion euros ($21.7 billion), it said on Friday, citing previously disclosed impairments on its holding in Europe’s top carmaker. The impairments, first announced in December, reflect a substantial loss in both Volkswagen’s and Porsche AG’s market value. Porsche…

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US weekly jobless claims fall; DOGE action boosts planned layoffs in February

By Lucia Mutikani WASHINGTON (Reuters) -The number of Americans filing new applications for unemployment benefits fell more than expected last week, suggesting that the labor market remained stable in February, though turbulence lies ahead from tariffs on imports and deep government spending cuts. That was flagged by other data on Thursday showing layoffs announced by…

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