Turkish unemployment surges to 13.5 per cent, highest in nine years

ISTANBUL Turkey’s unemployment rate jumped to 13.5 per cent in the November-January period, its highest level in nine years, official data showed on Friday, in a fresh sign of the impact of last year’s currency crisis. The economy contracted a sharper than expected 3 per cent in the fourth quarter of 2018, its worst performance […]

VW to shrink workforce by 7,000 positions

Berlin: Volkswagen AG’s main car brand plans to deepen cost cuts and axe more jobs as profits slip in the industry’s shift to electric and self-driving cars. The German carmaker said on Wednesday it will eliminate as many as 7,000 positions — with measures including early retirement and not filling vacant positions — to achieve […]

UK won’t apply tariffs on most goods in no-deal Brexit

The UK will avoid imposing tariffs on most imported goods in the event of a no-deal Brexit, though officials said prices of key European Union products including beef, cheese and cars will rise. The government said Wednesday its “balanced approach” aims to offset a spike in prices that consumers would experience in a no-deal departure […]