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Porsche profits crash after costly EV strategy U-turn

Porsche profits crash after costly EV strategy U-turn

The automaker’s operating profits plunged nearly 93% after scrapping an all-electric vehicle program German luxury carmaker Porsche AG has reported a sharp drop in operating profits following a costly pivot away from its long-term EV strategy amid mounting challenges...

US borrowed $1 trillion in five months

US borrowed $1 trillion in five months

Over $430 billion has been spent to service the debt, which is approaching $39 trillion, the Congressional Budget Office states The US government has borrowed some $1 trillion in the five months since October, adding to the ballooning federal deficit, the...

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