Financial Roundup: EU Nickel Probe, VW Diesel Unit Investment, UK Tax Debates

The European Commission is poised to launch a detailed probe into the $500 million transaction involving the sale of Anglo American's nickel business to China-supported MMG. The impending investigation highlights the European Union's cautious approach to strategic resource management.

In Germany, the billionaire Porsche-Piëch family, which holds significant influence over Volkswagen, is contemplating a substantial investment in the automaker's diesel engine division spree. This strategic move comes as private equity firms express increasing interest ahead of a prospective sales process.

In the United Kingdom, political tensions rise as Prime Minister Keir Starmer distances himself from the Labour Party's manifesto tax pledge amid economic uncertainties. Concurrently, Finance Minister Rachel Reeves considers axing the windfall profits tax on the oil and gas industry sooner than anticipated to bolster North Sea extraction efforts.