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Volkswagen, Europe's largest automaker, is facing a reckoning in its home market of Germany. In a move that marks a historic shift for the company, Volkswagen has announced plans to shut down at least three factories in Germany and lay off tens of thousands of workers as part of a major cost-cutting and restructuring effort.

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The Walt Disney Company revealed Monday its timeline for naming CEO Bob Iger's successor, pushing the anticipated announcement to early 2026 – later than the company's initial 2025 target. The media giant simultaneously announced that James Gorman, former Morgan Stanley CEO, will assume the role of board chairman in January.

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