VW Approves Plan for 50K More Layoffs, US Retail Diesel Hits Record | The Opening Trade 9/4/2026

Volkswagen’s supervisory board backed a sweeping restructuring that calls for 50,000 additional job cuts, far fewer models and a smaller industrial footprint, giving Chief Executive Officer Oliver Blume his clearest mandate yet to overhaul Europe’s biggest carmaker. US retail diesel rose to a record, threatening to further spike energy-driven inflation as wars in Iran and Russia roil the market. The widely used fuel climbed to a nationwide average of $5.85 a gallon at the pump on Thursday, according to the American Automobile Association. The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Guy Johnson and Tom Mackenzie. Chapters: 00:00:00 - The Opening Trade 00:00:23 - Market Check 00:02:02 - Fed Rate Hike Bets, Yen Surges 00:04:43 - Anthropic, OpenAI IPO Battle 00:07:23 - Volkswagen Approves Job Cut Plan 00:11:49 - Oil Near Biggest Weekly Gain Since July 00:25:12 - US Jobs Report 00:37:34 - OpenAI CEO Sam Altman on AI Benefits 00:41:17 - Norway Twists The Knife on Treasuries: MLIV 00:47:19 - Stocks to Watch: Volkswagen, Sportswear, Carrefour 00:57:17 - Volkswagen Stock 01:02:39 - VW Targets 9% Operating Margin by 2030 01:08:13 - Europe Facing Higher Energy Prices 01:13:02 - Wouldn't Call Iran Conflice a War: JD Vance 01:32:19 - AfD Outlook Ahead of Saxony-Anhalt Election 01:34:11 - Weekend: Arsenal, Chelsea, US Open, Italian Grand Prix -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect with Bloomberg Television on: X: https://twitter.com/BloombergTV Facebook: https://www.facebook.com/BloombergTelevision Instagram: https://www.instagram.com/bloombergtv/ Connect with Bloomberg Business on: X: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness Instagram: https://www.instagram.com/bloombergbusiness/ TikTok: https://www.tiktok.com/@bloombergbusiness?lang=en Reddit: https://www.reddit.com/r/bloomberg/ LinkedIn: https://www.linkedin.com/company/bloomberg-news/ More from Bloomberg: Bloomberg Radio: https://twitter.com/BloombergRadio Bloomberg Surveillance: https://twitter.com/bsurveillance Bloomberg Politics: https://twitter.com/bpolitics Bloomberg Originals: https://twitter.com/bbgoriginals Watch more on YouTube: Bloomberg Technology: https://www.youtube.com/@BloombergTechnology Bloomberg Originals: https://www.youtube.com/@business Bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake Bloomberg Espanol: https://www.youtube.com/@bloomberg_espanol Bloomberg Podcasts: https://www.youtube.com/@BloombergPodcasts