- Oil prices fell to their lowest level in two weeks
- US Q3 GDP came in below forecast, casting doubts on the strength of the economy
- Volkswagen and Stellantis saw profits knocked as carmakers grapple with chip shortages
- Lloyds banking group profits doubled in Q3 thanks to booming mortgage market
- The impact of Brexit on the UK economy worse than Covid, says OBR
- Shell vows to cut its emissions in half by 2030, as it reports lower profits
The global semiconductor shortage and ongoing disruption to supply chains continue to knock carmakers’ profits.
Volkswagen and Stellantis both suffered financial hits in the third quarter the year, as a result of the global shortage of computer chips, which has prevented the firms from producing as many vehicles as they had originally planned.
