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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
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.
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.
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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.
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.
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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.