For European brands, all of this could not have happened at a worse time. The loss of the steady stream of profits from China, and the emergence of Chinese rivals on their home turf, has come after they invested heavily in producing electric vehicles (EVs). But EV sales have not increased as quickly as expected. Executives admit they have struggled to match the low production costs and development speed of the Chinese insurgents.

The result is that European manufacturers are now rushing to cut costs, while wondering what to do with expensive factories capable of producing millions more cars than they are able to sell.

Volkswagen has already announced plans to cut 100,000 jobs over the next few years. Whereas once closing plants in Germany would have been unthinkable, the company has now shuttered one in Dresden and may shut down four more. That includes a site in Zwickau, where VW spent over €1bn (£857m) converting production lines to build electric vehicles – a process that was completed just four years ago.

Industry estimates indicate that western European car plants have roughly 2.5 million vehicles worth of annual spare capacity.

Little wonder that car makers are jealously eyeing soaring defence budgets across Europe.

Sigrid de Vries says car makers are well placed to help Europe rearm.

“Many of the capabilities that defence needs are needed for and also delivered by the automotive sector,” she says. “So automotive manufacturers and suppliers possess industrial assets, they possess manufacturing expertise, logistics capabilities, also advanced technologies. They have vast and also very integrated supply chains that may be relevant for Europe’s broader defence preparedness objective.”

But it is not that simple – security protocols, political and economic rivalries within Europe plus the fact that unless you’re actually at war, the volumes will not replace the mass consumer market, all of which present challenges, she says.

“These are two very different worlds,” she says. Governments want to invest in their defence capabilities and that is why it’s now, more than ever, interesting for manufacturers and suppliers to see what’s possible, but it will not be enough to address the underutilisation of manufacturing capacity we currently see.”

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Walmart shoppers are being urged to check their freezers after a supplier recalled certain packages of Bettergoods pasta sold nationwide over potential listeria contamination.

Gias Foods Inc. is recalling two lots of Bettergoods Authentic Italian Lemon Alfredo Fettuccine distributed at Walmart stores across the country, according to a company announcement posted by the Food and Drug Administration. 

The recalled pasta is sold frozen in 22-ounce yellow plastic packages under Walmart’s Bettergoods brand. The affected products have UPC 194346442706 and are marked with lot numbers L6079C or L6080C.

Packages with lot number L6079C have an expiration date of Sept. 19, 2027, while those marked L6080C have an expiration date of Sept. 20, 2027. Both the lot number and expiration date are stamped on the back of the packaging.

EGGS RECALLED AS SALMONELLA OUTBREAK SICKENS 23 PEOPLE

No illnesses have been reported in connection with the recalled products, the company said.

The recall followed routine sampling conducted by the Washington State Department of Agriculture and Florida Department of Agriculture and Consumer Services.

The sampling indicated that the finished products may contain Listeria monocytogenes, according to the announcement.

Gias Foods has stopped distributing the affected product while the company and FDA continue investigating what caused the potential contamination.

WALMART LAUNCHES WEEKLONG FALL SALE OVERLAPPING AMAZON PRIME BIG DEAL DAYS

Representatives for Gias Foods and Walmart did not immediately respond to FOX Business’ requests for comment.

The FDA posts company recall announcements as a public service and notes that publishing an announcement does not constitute an endorsement of the product or company.

Listeria monocytogenes can cause serious and sometimes fatal infections in young children, older adults and people with weakened immune systems, according to the recall announcement.

Healthy people may experience short-term symptoms, including high fever, severe headache, stiffness, nausea, abdominal pain and diarrhea. A listeria monocytogenes infection can also cause miscarriages and stillbirths among pregnant women.

Ticker	Security	Last	Change	Change %
WMT	WALMART INC.	110.12	+2.68	+2.49%

Because the recalled product is frozen and carries expiration dates extending into September 2027, consumers are being urged to check packages they may have stored in their freezers.

Consumers who purchased either affected lot should return the product to the place of purchase for a full refund, according to Gias Foods.

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Customers with questions can contact Gias Foods at sales@giasfoods.com or 917-675-4890.

The company said email inquiries will receive a response within 24 hours.

Mumbai: The Indian rupee closed stronger at 95.59 on Tuesday, amid a pull back in oil prices and dollar sales by the central bank, traders said. Brent crude oil prices dropped to $98 per barrel, easing pressure on the currency which had previously closed at 95.81.

Read more: Ahead of Market: 10 things that will decide stock market action on Wednesday

The currency traded in the range of 95.58 and 95.86, with the central bank selling dollars at weaker levels. The rupee saw a choppy session as state-run banks sold dollars while corporate demand for the greenback provided a counterforce, creating a push-and-pull dynamic in the market.
Read more: Sebi to address concerns over settlement price for derivatives on expiry days, says chief Tuhin Kanta Pandey
“Gains earlier during the day were supported by dollar sales by the RBI, and later corporate dollar demand again wiped these gains. The RBI then intervened around 95.85 levels and kept a lid on further weakness,” said Anil Bhansali, head of treasury, Finrex Treasury Advisors.

Technology leadership broadened beyond semiconductors, as communications equipment, technology hardware, and other Artificial Intelligence ((‘AI’)) infrastructure beneficiaries also posted exceptional gains. – Earnest Partners LLC

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Market in Review

International markets, as represented by the MSCI (

In a recent survey of more than 5,500 people, commissioned by Citizens Advice, 36% adults said they were behind on at least one bill, but for those in their 20s that figure climbs to 57%.

Ezgi Polat is one of them. When the 23-year-old, from Ramsey in Cambridgeshire, lost her job 12 months ago, her family weren’t in a position to help, so she quickly fell behind on rent and bills.

“My parents were struggling financially, just like I am, just like everyone else…. I got myself in arrears, a lot of debt because I just couldn’t afford it – £300 was not covering any of my bills at that point.”

Her local bus service was cancelled, making trips to the job centre increasingly difficult, so her benefits were then cut. She was receiving £360 a month in Universal Credit, but with rent at £460, plus utility bills, council tax and living costs, her total debt spiralled to about £4,000.

After turning to Citizens Advice for help, her rent arrears were wiped out by the council three months ago, and she’s agreed to paying £200 a month to both her electricity and water company in repayment plans.

She’s delighted to have now got work in a warehouse and feels like life is getting back on track, but it’s not been an easy road.

“A lot of older people feel like we’re not ambitious enough, or we’re not striving hard enough, but they’d be surprised at the amount of people out there so desperate for work and so desperate for support but with nowhere to turn to,” she says.

The latest government figures show that just under a million young people are currently not in employment, education or training.

A government spokesperson said “We are determined to restore hope and deliver opportunity for young people in every postcode. That’s why we are investing £2.5 billion to create opportunities for young people to earn or learn through more apprenticeships, job grants, and training. And for those moving out for the first time, our Renters’ Rights Act gives tenants more rights and protection from excessive increases.”

But Luke Young, head of policy at Citizens Advice, thinks young people are trapped between rising costs and a difficult jobs market.

“For young people right now the divide is growing bigger between those who do have financial support from families and other networks, and then those who don’t. Young people who don’t have that wider support network are being let down.”

Additional reporting: Adam Clarkson and Elliot Deady

Priority Technology PRTH 33.79%increase; up pointing triangle Holdings agreed to be taken private by an investor group led by its chair and chief executive, Thomas Priore, in a deal with an enterprise value of around $1.6 billion.

Priore’s group would acquire all the stock it doesn’t already own for $8.05 a share in cash, which the payment-technology company said is a 65% premium to its share price on Nov. 7, 2025, just prior to the investor group’s preliminary acquisition proposal. The price also represents a 38% premium to the company’s Friday closing price.

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