Germany’s automakers are suffering a dramatic sales slump that forced them to shed more than 51,000 jobs within a year. Therefore, the government has invited industry executives to find ways for a turnaround.

Berlin

German car manufacturers are encountering significant difficulties as investments in electric vehicles have not yielded the expected returns. Companies such as Volkswagen, Mercedes, and Porsche are scaling back their electric-only strategies due to low consumer demand, with only about 15 percent of EU car buyers choosing fully electric vehicles. The industry is also grappling with higher production costs compared to Chinese competitors and increased regulatory expenses in Europe.

These challenges have led to widespread job cuts across the sector, with major automakers and suppliers announcing plans to eliminate tens of thousands of positions by 2030. Additional pressures include high labor and energy costs, tariffs, and the growing burden of legislation, all of which are contributing to a crisis in Germany's largest economic sector.

Auto summit: Why German carmakers need help from politics

A forced break in Zwickau. In October, Volkswagen is halting production here for a week. The same goes for its plant in Dresden. The problem? Multi-billion-euro investments in electric vehicles aren't paying off. Many customers remain hesitant. In August, only about 15 percent of all car buyers in the European Union opted for a fully electric vehicle. Car makers like Mercedes and Porsche have now abandoned their electric-only strategies. The huge problem for German manufacturers is their cost structure when it comes to electric cars. That's why we are seeing strong lobbying to delay the phase-out of combustion engines. China is light years ahead in terms of production costs and battery technology. None of the German car makers can compete with that, not even in the next three or four years. That's the biggest challenge. The consequences are wide-ranging. Ford Germany plans to cut 3,900 jobs by 2027. Mercedes will lay off even more employees. Volkswagen, meanwhile, intends to cut 35,000 positions. That's a quarter of all VW positions in Germany. But suppliers are also affected. Bosch is cutting 13,000 jobs, while ZF plans to cut 14,000. Across the entire German automotive sector, a total of 98,000 positions are expected to disappear by 2030. But there are other reasons behind the crisis, from high labor costs to energy prices higher than in China or in the U.S., tariffs, and that's not all. The sticking point for Europe is the cost of legislation. Rulemakers in Europe are always adding more and more and more. That's making cars ever more expensive. The automotive industry is considered the heart of the German economy, which makes the latest developments alarming. This is, after all, the country's largest sector by revenue and employment.

As the war in Gaza reaches its two-year mark, Israel and Hamas continue negotiations in Egypt. Talks are centered on a proposed ceasefire deal, which includes a partial Israeli withdrawal from Gaza and a hostage-prisoner exchange.

Cairo

Middle East Conflict

Israel and Hamas resume Gaza ceasefire talks in Egypt

Leaders in the U.S. state of Illinois are taking President Donald Trump to court, looking to stop the deployment of hundreds of National Guard troops to the streets of Chicago. The White House argues that soldiers are needed to prevent so-called lawlessness.

Chicago

Chicago declares 'ICE Free Zones' amid clashes over raids

French President Emmanuel Macron has given Prime Minister Sebastien Lecornu 48 hours to stabilize the government following his sudden resignation. Lecornu stepped down hours after naming his cabinet, amid criticism and growing political instability in a parliament without a clear majority.

Paris

Macron gives Lecornu two days to salvage government after resignation

Microchip maker AMD got a huge boost in the race to supply the artificial intelligence revolution. OpenAI, the company behind major AI platform ChatGPT, announced a deal for AMD to provide the AI startup with its high-performance processing chips starting next year.

Santa Clara

Rise of AI

AI chipmaker AMD strikes major deal with OpenAI

It's a race against time to save the remaining 200 or so stranded climbers on Mount Everest after a massive storm dumped at least three feet of snow over the weekend.

Gorakshep

About 200 Mount Everest climbers still stranded

Clashes broke out at ICE facilities in Chicago and Portland after President Trump ordered National Guard troops into both cities. The move has intensified tensions between federal authorities and local officials amid ongoing protests.

Clashes erupt as Trump deploys National Guard

Former NFL quarterback and Fox Sports analyst Mark Sanchez was charged with felony battery involving serious bodily injury, and could face up to six years in jail, according to Marion County Prosecutor Ryan Mears.

Indianapolis

Mark Sanchez charged with felony, could face up to 6 years in jail

Illinois Gov. JB Pritzker and Chicago Mayor Brandon Johnson announced on Monday a lawsuit against the Trump administration over plans to deploy the National Guard to Chicago.

Illinois, Chicago sue Trump over National Guard deployment

A selloff in French markets gathered pace after French media reports that Prime Minister Sebastien Lecornu has resigned. French stocks fell sharply, government bond yields were up 8 basis points and the euro was last down 0.65% at $1.1667.

French markets tumble after PM Lecornu resigns

Former NFL quarterback Mark Sanchez has been charged with battery, intoxication, and unlawful entry after allegedly attacking a 69-year-old truck driver in Indianapolis. The driver stabbed Sanchez in self-defense, believing his life was in danger. Sanchez is currently hospitalised.

Ex-NFL star Mark Sanchez faces criminal charges in alleged assault

U.S. President Donald Trump's battle with Democratic-led cities is heating up after 200 California National Guard troops have been reassigned to Oregon, despite a judge blocking the deployment to Portland.

Portland

Trump sends National Guard to Oregon despite court block

Israeli planes and tanks pounded areas across the Gaza Strip overnight and on Sunday, destroying several residential buildings, witnesses said, as Palestinians hoped a U.S. plan to end the war would soon ease their suffering.

Jerusalem

Israeli strikes on Gaza continue ahead peace talks

Amenhotep III ruled between 1390 and 1350 BC and was one of the most prominent pharaohs of ancient Egypt.

Pharaoh's tomb reopened after more than 20 years of renovations

President Trump has thrust the U.S. military into a critical role deterring illegal crossings into this country at the southern border. As Charlie D'Agata reports, their presence is having unintended consequences.

Santa Teresa

U.S. military presence at southern border angers hunters, hikers

A new CBS News poll shows a majority of Americans disapprove of how President Trump and congressional Republicans and Democrats have handled the government shutdown. Willie James Inman reports on that and Mr. Trump's latest National Guard moves.

Washington

Americans fed up with shutdown, poll finds

Negotiators between Hamas and Israel will begin meetings in Cairo on Monday (October 6) for the release of the remaining 20 hostages and a prisoner swap.  There is a lot of pressure on both sides to get a deal done.

Negotiations between Israel, Hamas set to begin

Japan's ruling party picked hardline conservative Sanae Takaichi as its head on Saturday, putting her on course to become the country's first female prime minister in a move set to jolt investors.

Tokyo

Right-wing Sanae Takaichi set to be Japan's first female premier

For a second day, Israel is launching more strikes on the Strip defying demands from the U.S. to stop attacks. At least 61 Palestinians were killed in attacks across the Strip.

Tel Aviv-Yafo

Israel intensifies Gaza bombardment despite U.S. pressure to stop

Israeli Prime Minister Benjamin Netanyahu says he hopes to announce the release of all the hostages being held by Hamas in Gaza in one fell swoop in the coming days.

Netanyahu: Gaza peace deal is 'close'

The government shutdown reached its fourth day on Saturday. The Senate on Friday went home after another failed vote to keep the government open. Willie James Inman has the latest.

No signs of compromise as government shutdown continues

Tensions are high in Portland, Oregon, as National Guardsmen could possibly be deployed there as early as this weekend. Federal agents and demonstrators squared off again, but Portland's mayor and chief of police say they don't need the help.

Protests in Portland as National Guard mobilizes

“I believe they are ready for a lasting peace.” the U.S president wrote on social media after Hamas announced it was willing to release the hostages and hand over power to other Palestinians.

Trump urges Israel to stop bombing Gaza after peace breakthrough

Israel slowed its Gaza offensive on Saturday after U.S. President Donald Trump demanded it stop bombing in response to Hamas saying it was ready to free hostages under the U.S. plan to end the two-year-old war.

Could the Trump deal end the Gaza war?

Sanae Takaichi has been elected as the head of Japan’s ruling Liberal Democratic Party (LDP) and is therefore likely to become the next prime minister and the first woman to lead the country.

Japan's ruling LDP elects first female prime minister

U.S. President Donald Trump has acknowledged Hamas's partial acceptance of a ceasefire proposal drafted with Israel, and ordered Israel to stop bombing the Gaza strip.

Trump orders Israel to stop bombing Gaza

The state Attorney-General says the city is violating the law by sharing license data with federal agencies. The El Cajon mayor has accused the state of 'bullying' cities.

El Cajon

State sues El Cajon over license plate data

Sean "Diddy" Combs was sentenced on Friday to more than four years in prison on two prostitution-related charges. It follows a roughly two-month-long trial where Combs was acquitted on more serious charges of racketeering and sex trafficking.

Manhattan

Sean "Diddy" Combs sentenced to over four years in prison

The United States Senate on Friday (October 3) failed to advance competing plans to extend federal funding and end the government shutdown, likely pushing the funding lapse into at least next week.

U.S. Senate fails to pass funding bill to end government shutdown

U.S. Secretary of Defense Pete Hegseth announced on social media another strike targeting a vessel allegedly connected to narco-trafficking off the coast of Venezuela. CBS News' Reed Cowan reports.

Breakdown