Business & Markets — September 4, 2026

Volkswagen deepens job cuts. Volkswagen's board approved cutting another 50,000 jobs and closing four more plants, bringing planned reductions to 100,000 by 2030. Tariffs and Chinese EV competition are squeezing the automaker.

AP · Read more →

Mortgage rates reach one-year high. The 30-year fixed mortgage rate climbed to 6.71%, its highest level in more than a year, further eroding purchasing power for prospective U.S. homebuyers.

The Hill · Read more →

Tesla launches Cybercab rides. Tesla began offering public rides in its steering-wheel-free, two-seat Cybercab in Austin, debuting the robotaxi service at an unusually muted private event.

Engadget · Read more →

August jobs report arrives today. Forecasters expect August nonfarm payrolls to rise by roughly 53,000. Markets are treating the report as the deciding input for a possible Fed rate hike at the mid-September meeting.

The release caps what CNBC characterizes as a subdued summer for hiring, with the labor market cooling while the Federal Reserve's attention stays fixed on inflation. That tension frames how policymakers will read the payrolls figure ahead of their next gathering, where the data could tip the balance on whether officials move on rates.

CNBC · Read more →