The U.S. added 162,000 jobs in August, exceeding expectations as the labor market bounced back. The report will be important as the Federal Reserve weighs whether to raise interest rates at its September policy meeting.

US jobslabor marketFederal Reserveinterest rates

Volkswagen shares rose 6% on Friday after the company announced plans to eliminate another 50,000 jobs as part of its transformation plan, amid tariff pressures and competition from China.

Volkswagenjob cutstariffsChina competition

Volkswagen plans to eliminate a further 50,000 jobs worldwide.

Volkswagenjob cutsautomotive industry

Volkswagen employs nearly 630,000 people and is preparing to cut 50,000 more jobs worldwide after previous reductions. Its oversized workforce reflects extensive in-house production, years of brand acquisitions and costly German operations, while a slow shift to electric vehicles has left the carmaker under pressure from Chinese competitors. The company also wants to close four German factories, though its supervisory board has not yet approved immediate implementation.

Volkswagenjob cutsGerman auto industryelectric vehicles

German carmaker Volkswagen says management and unions have agreed to eliminate another 50,000 jobs by the end of the decade, taking total job losses to 100,000 in the company’s biggest industry shake-up.

Volkswagenjob cutsautomotive industryGermany

Volkswagen’s supervisory board approved a sweeping overhaul involving 50,000 additional job cuts, fewer models and a smaller industrial footprint. The decision gives CEO Oliver Blume his clearest mandate yet to reshape Europe’s biggest automaker.

Volkswagenjob cutsautomotive industrycorporate restructuring

Volkswagen’s board has approved another 50,000 job cuts under a broad turnaround plan, taking the group’s planned reductions by 2030 to 100,000. The carmaker blamed falling sales, weaker profits and intensifying competition, particularly from Chinese brands, and said it is reviewing capacity and possible alternative uses at several plants.

Volkswagenjob cutsauto industryGermany economy

US mortgage rates have surged to a new high for the year, nearing 7%.

United Statesmortgage rateshousing

Mortgage rates rose again this week, pushing the average rate on a long-term U.S. home loan to its highest level in more than a year.

US economymortgagesinterest rates

Federal Reserve Governor Christopher Waller said that if forthcoming data confirms inflation pressures are easing, he would be inclined to support keeping interest rates unchanged at the U.S. central bank’s next policy meeting.

Federal Reserveinterest ratesinflation

Federal Reserve Governor Waller indicated that he would support leaving interest rates unchanged at the September meeting. He expressed confidence in current inflation trends, appearing to contrast with comments Chairman Kevin Warsh made last week.

Federal Reserveinterest ratesinflation

Chinese Vice Premier Ding Xuexiang said China wants to strengthen friendly ties with Russia and broaden cooperation in several areas. Speaking at the Eastern Economic Forum, he described people-to-people friendship as the foundation of bilateral cooperation and cited a survey saying more than 90% of Russians view the state of China-Russia relations positively.

China-Russia relationsdiplomacycooperation

More Americans applied for unemployment benefits last week, but layoffs remain rare and jobless claims are still at historically low levels.

US economyunemployment claimsjobs

Kraken will join SoFi’s settlement network and list SoFiUSD, linking traditional banking with crypto markets as the two companies expand into each other’s businesses.

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Germany is showing tentative signs of recovery after a prolonged downturn. GDP grew 0.3% in the second quarter of 2026, several institutes raised their full-year growth forecasts to at least 1.3%, and business sentiment reached a one-year high. Structural problems, including industrial restructuring, Chinese competition and higher energy prices, remain.

German economyeconomic recoveryGDPbusiness sentiment

The Dutch central bank said it is moving gold bars out of the U.S. and Canada. Gold held at the Bank of England is more readily tradable, allowing it to be deployed faster in a severe crisis.

Dutch central bankgold reservescrisis preparedness