Death Of Europe's Industrial Base: VW CEO Set To Announce 50,000 Job Cuts

Taiwan Semiconductor April Sales Grow At Slowest Pace In 6 Months Taiwan Semiconductor, world's largest dedicated independent semiconductor foundry, posted its slowest pace of monthly revenue expansion since October, highlighting the challenges of sustaining torrid AI-fueled pace of growth. Sales in April rose 17.5% to NT$410.7 billion ($13.1 billion), their smallest rise in about six months. While the rise reflects just 30 days of business and its revenue can fluctuate month-to-month, the drop was notable; analysts expect the company’s June-quarter revenue to grow almost twice as fast, or at about 35%...

Israel, US Strike Gas Facilities In Iran's Isfahan, Possibly Triggering Retaliation Against Gulf Summary Israel, US strike gas pipeline, distribution station in Iran Trump announces "productive" talks with Iran, "postpones" military strikes for 5 days Iran Foreign Ministry + Parliament speaker say no talks have happened, after Trump said "speaking with a top person in Iran", says will "just keep bombing" if Iran talks fail Trump says Hormuz will be "jointly controlled"; Russia and Pakistan step-up as potential mediators, engage with Tehran; US officials have told CBS News that there are at least a dozen...

Exxon Warns Of $6.5 Billion Hit From Iran War As Q1 Earnings Set To Print Slightly Below Consensus In an early clue how the Iran war will impact energy earnings, ExxonMobil warned of a $6.5bn hit to Q1 earnings from the Iran war but said the bulk of this was the result of unfavorable timing for its accounting of hedging contracts, which would be offset as underlying transactions were eventually completed. The US supermajor also said that global oil and gas production would be 6% lower in the first three months...