Volkswagen CEO Oliver Blume is pushing for a sweeping restructuring plan that could eliminate up to 100,000 jobs and shutter four German plants, according to sources familiar with the proposal. The plan, set to be presented to Volkswagen’s supervisory board…
U.S. airlines burned through $6.66 billion on jet fuel in May, marking the second consecutive month fuel costs topped $6 billion, the Bureau of Transportation Statistics reported on July 7. The May bill was 84% higher than a year earlier,…
Oil prices have surged more than 6% after US President Donald Trump stated that the interim agreement with Iran is ‘over’, despite allowing talks to continue. The price of Brent crude oil jumped 6.3% to $78.80 a barrel, while US…
French tyre giant Michelin has completed its third non-tire acquisition of 2025 with the takeover of Tex Tech Industries, a Maine-based specialist in coated fabrics and textile solutions. The deal, finalised on 1 July 2025, follows Michelin’s earlier purchases of…
Natural rubber futures posted modest gains across major Asian exchanges last week, as fresh buying interest and short covering lifted prices following a recent sharp decline. According to Japan Exchange Group (JPX), the Tokyo-based exchange reported “improved physical demand” that…
Malaysian property giant Berjaya Group and China’s Wanli Tire have inked a €280 million joint venture to build a high-performance tire factory in Bukit Tagar, Selangor. The deal, signed on July 6, will see the partners develop the Wanli Malaysia…
The Liberian government has issued an executive order imposing an indefinite ban on exports of unprocessed natural rubber, effective 1 July. The order, signed by President Joseph Nyuma Boakai on 26 June, aims to boost local processing and manufacturing. It…
The European Commission has imposed definitive anti-dumping duties ranging from 4.3% to 45.3% on passenger car and light truck tire imports from China. The measures, which enter into force on July 8, cover new pneumatic rubber tires for passenger cars…
Michelin has launched the XHA3, a new-generation tire engineered for heavy-duty construction equipment such as loaders, articulated dump trucks (ADTs) and graders. Designed to meet rising productivity demands and support faster operating cycles, the XHA3 builds on the proven XHA2…
PACCAR and Cummins have initiated software updates for diesel engines to align with revised Environmental Protection Agency (EPA) guidance issued in August 2025, which increases the minimum speed threshold for diesel exhaust fluid (DEF) inducement from 5 mph to 25…