ArcelorMittal's second-quarter earnings improved sequentially as Europe gained protection from imports. Cash pressure, Luxembourg job reductions and a narrower climate target complicate the picture.
China recorded its weakest quarterly growth since late 2022 as domestic demand faltered despite strong manufacturing and exports. The imbalance carries risks for European industry, global trade and markets.
Indorama Ventures has told staff at its Steinfort tyre-cord factory it will end production and open a collective-redundancy procedure, threatening around 100 jobs in what unions call Luxembourg's largest industrial closure since TDK in 2007.
Volkswagen is reportedly planning to cut up to 100,000 jobs and close four German plants, doubling cuts announced in March and underscoring an industrial reckoning that stretches into Luxembourg's cross-border economy.
Renault plans to cut roughly 800 engineering jobs in France by end-2027 via voluntary departures, part of a global engineering reduction of up to 2,400 as Chinese EV makers squeeze European carmakers.