Volkswagen’s major shareholder said it swung to a loss in the first nine months of the year, mainly due to an impairment on the value of its investments in Volkswagen and sports-car maker Porsche AG. Porsche SE, Volkswagen's largest shareholder, urged faster cost cuts as the company reported a loss in the first nine months of the year, primarily due to an impairment on its investments in Volkswagen and Porsche AG.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing