In brief | 3 August ‘26

Politico: China made Germany’s car giants. Now it’s helping break them

Germany’s politicians are worried about blowback from the car industry’s troubles.

New York Times: The German auto industry, a pillar of the national psyche, is trembling

The country’s iconic carmakers are struggling with tariffs, the growth of electric vehicles and intense competition from Chinese companies. 

FT: German carmakers flood jobs market with managers after wielding axe

Volkswagen is axing hundreds of management roles as part of a cull of white-collar workers, flooding the job market at a time when Germany’s auto giants are under extreme pressure from Chinese carmakers. 

DW: BMW to Volkswagen: How deep is Germany's auto industry cull?

BMW joins VW, Porsche and Mercedes-Benz in cutting thousands of jobs, as Chinese rivals erode their market share.

BBC: Danube's record low levels force shutdown of Hungary's only nuclear plant

Prime minister Péter Magyar warned Hungary's energy supply could become "critical" from Monday (3 August) due to the Paks shutdown and the ongoing heatwave, which will see temperatures hover around 37C for a week.

Reuters: Europe's shrinking rivers curb power output, transport and company earnings

Record low water levels in Europe's major rivers have curtailed the transport of goods, reduced electricity output and shrunk company earnings, stoking fears ​about the economic impact of searing heat and erratic rainfall.

CAT: EU slipping on action amid climate breakdown, aided by Germany

Amid a mounting death toll from repeated heat waves, devastating wildfires, rivers running dry and drought reducing agricultural production in Europe, the EU’s climate ambition is slipping significantly, according to the Climate Action Tracker's (CAT) latest analysis of the region.