tinyfav.com
tinyfav.com October 19, 2017


VW announces loss of another $3B in USA diesel scandal

30 September 2017, 03:50 | Melanie Burgess

Former VW engine chief arrested in diesel investigation, report says

Audi Electric Cars To Be Built Around The World

German police arrested and detained a man Thursday who had previously been one of Volkswagen Group's highest-ranking engineers, over his role in the company's diesel emissions scandal.

Its shares dropped after the statement and were down 3.1 per cent at the bottom of the German blue-chip DAX index which was up 0.2 per cent.

VW's diesel emissions scandal bill is set to reach $30 billion as the German vehicle manufacturer faces another $3 bill to fix affected engines in the United States.

The diesel cars in the US affected by scandal only represent a small part of the 11 million rigged cars globally.

German weekly Der Spiegel reported today that VW could face further scrutiny because it failed to properly inform USA regulators about changes to emissions control software in almost one-half million cars with gas engines.

Trump on Iran nuclear deal's future
In a speech broadcast on state television, Rouhani said: "We will increase our military power as a deterrent". She said the agreement "is working" and the European Union "will make sure that the agreement stays".

Target Boosts Hourly Minimum Wage to $11
Nationally, the minimum wage sits at $7.25, a figure agreed to in 2009; don't expect that to go changing again any time soon. The discount-store operator also said it is committed to increasing the minimum hourly wage to $15 by the end of 2020.

Catalonia urges European Union intervention in independence vote dispute
He said that he doesn't expect violence, because "it's not in the Catalan DNA to use violence to solve political problems". Among a number of measures being taken to impede the referendum , 14 regional government officials were detained last week.

The additional provisions will hit operating results in its third-quarter report, due October 27, the Wolfsburg, Germany-based company said Friday in a statement.

Volkswagen has recalled about 11 million vehicles worldwide since admitting two years ago to manipulating emissions tests in the United States, about 8.5 million of the figure are in Europe. The fix is taking longer and some cars had to be worked on a few times.

Porsche Automobil Holding SE, the investment vehicle that controls a majority stake in Volkswagen, said the company's provision hike would negatively affect its third-quarter results.

At the Frankfurt motor show earlier this month, Volkswagen outlined plans to move away from combustion engines with electrified variants of all 300 models in the 12-brand group's lineup. Facing threats of a ban on diesel cars by German cities under pressure to reduce pollution, Volkswagen and other auto makers are offering up to EUR10,000 in discounts on a new auto for customers who trade in old diesel vehicles. The Volkswagen warranty extends along with those loans to help save the first-and even second buyer of a VW-repair costs.

Public prosecutors have taken former Volkswagen Group powertrain development director Wolfgang Hatz into custody in Germany over the Dieselgate fraud scandal.



Other News

Trending Now

The Voice Returns Tonight on KNWA
With his wide range of experiences, the singer can offer plenty of guidance to the aspiring artists that end up on his team. Nurse Dylan Gerard got Adam and Jennifer to turn around with his cover of James Arthur's "Say You Won't Let Go".

USOC says there's interest in Denver hosting Winter Olympics
USOC CEO Scott Blackmun said: "Our stance on this is fairly clear, and we recognize the rights of athletes to express themselves". The IOC said it was helping North Korea prepare its athletes for the Games and would cover costs of their equipment if needed.

Syrian Army Captures New Settlements in Deir Ezzor
The Britain-based Syrian Observatory for Human Rights also reported the shelling, saying two civilians have been killed. Abdallah said Assad regime forces carried out additional bombardment of SDF positions after the initial Russian bombing.

Ahead Of Super Mario Odyssey, Nintendo Announces Big Super Mario Run Update
According to Engadget , Nintendo will release a major update on September 29 that brings a number of fresh changes to the table. But the Italian plumber in red and blue has also branched out from Nintendo exclusivity by becoming a star in mobile gaming.

Falcons edge Lions after Tate TD was overturned
The next season, the Lions took on the Tennessee Titans and in the second quarter, Stafford threw a touchdown pass to Eric Ebron. Eight seconds later, Stafford had already taken another snap and spiked the ball to set up the game-tying field goal.

'Tourism unaffected' as 134000 flee Bali volcano threat
Bali is famous for its beaches and temples and saw almost 5 million visitors past year , mainly from China, Australia, and Japan. Agung in Bali to level 4, the highest alert level classification, signifying the possibility of volcanic eruption .

Coroner finds 'no evidence of trauma' in death of Otto Warmbier
The coroner's report, completed earlier this month, was conducted without an autopsy at the request of Warmbier's parents. North Korean officials maintain that he contracted botulism and slipped intothe coma after taking a sleeping pill.

What's next after Iraqi Kurds vote on independence
Erdogan also said Turkey's Habur border crossing with Iraqi Kurdistan would be closed. The vote on independence was the top story in the majority of Iranian newspapers.

Home Eagles fall to Black Stars in WAFU Cup final
Nigeria pulled a consolation goal in added time as Rabiu Ali ideal inched free kick beat Ghana's Joseph Addo at his near post. Ghana and Nigeria have met in 49 previous matches, according to Federation Internationale de Football Association statistics.

Bombardier jobs at risk after United States ruling
The U.S. financial penalties aren't officially due until Bombardier delivers the first CS100 to Delta, expected in the spring. The Commerce Department is expected to decide by October 4 whether to also impose anti-dumping duties on the C Series.