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Financier Lex Greensill banned from running UK companies for nine years

Financier Lex Greensill has been banned from running UK companies for nine years following the 2021 collapse of his supply chain invoicing firm, Greensill Capital, which left more than £1.6bn in liabilities.…

Waldorf: English Court Approves Second Restructuring Plan, Despite HMRC Opposition

The English High Court has sanctioned the second restructuring plan proposed by Waldorf Production UK Plc, despite strong opposition from HMRC. The plan enables Harbour Energy’s $205 million acquisition…

Spanish Steel Pipe Maker Tubos Reunidos Enters Insolvency After 134 Years

Tubos Reunidos, the historic Spanish steel pipe manufacturer founded in 1892, has filed for voluntary insolvency after 134 years in business, highlighting the mounting pressures facing Europe’s industrial…

E-Methanol Producer Liquid Wind Enters Bankruptcy Administration Sweden

Swedish e-fuel developer Liquid Wind AB has filed for bankruptcy, delivering a significant blow to the green shipping sector. The Gothenburg-based firm, which specialized in producing net carbon-neutral…

News

VW Sounds The Alarm: 'We Must Fundamentally Transform Our Business Model'
Volkswagen CEO Thomas Schäfer recently outlined a ‘fundamental transformation’ of the brand’s business model as rising costs, weaker demand, Chinese competition, and U.S. tariffs put pressure on profits. As at early May 2026, the company plans deeper cost-cutting measures beyond its existing restructuring programme, which already includes tens of thousands of job cuts in Germany and lower production targets. 

VW aims to simplify its product lineup and reduce the number of platforms and variants to improve efficiency while maintaining vehicle quality. CFO Arno Antlitz said the company needs structural and sustainable changes, including faster technology development and quicker decision-making. Several VW brands, including Audi and Porsche, saw declining sales in early 2026, while Skoda was the only major brand to grow. The automaker is also trying to accelerate EV development and adapt to a rapidly changing and challenging global auto market, focusing investment on high-margin vehicles and high-demand segments, rather than its traditional portfolio of niche models.

Read more at Motor1
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