VW slapped with new $3bn penalty over diesel emissions scandal
Sep 30, 2017, 15:43
Munich prosecutors on Wednesday arrested former Volkswagen engineer Wolfgang Hatz, the second person detained in the widening probe into cheating at the automaker's Audi division. As Reuters reports, VW shares fell as much as 3% on Friday, as traders and analysts expressed dismay that the company was still booking charges for the scandal.
"The new write-down comes as may investors had hoped the financial fallout from the scandal was in the company's rearview mirror", Fox Business said, adding that the more VW spends on "Dieselgate", the less it has to invest in new technology as it tries to shift from combustion engines.
German weekly Der Spiegel reported today that VW could face further scrutiny because it failed to properly inform U.S. regulators about changes to emissions control software in almost one-half million cars with gas engines.
Volkswagen will release its third-quarter earnings on October 27.
In late 2016, Volkswagen pleaded guilty to conspiracy to defraud the USA government over the diesel scandal and agreed to pay almost $25 billion in fines, penalties and compensation, after it settled a number of civil lawsuits.
USA vehicles rigged with the emissions-cheating technology represent only part of millions of other Volkswagen diesel cars linked to the scandal worldwide.
Analysts estimate that diesel scrappage in Germany could cost Volkswagen up to another EUR1.2 billion. The fix is taking longer and some cars had to be worked on a couple of times.
Much of the Island was destroyed, with billions of dollars owed to Wall Street and the banks which, sadly, must be dealt with. Apparently stung by the criticisms, administration officials have emphasized the complexity of delivering aid to the island.
The petition was filed by two Rohingya Muslims-Mohammad Salimullah and Mohammad Shaqir-who are now living in India. Their petition says that the Centre's plan to deport them violated worldwide conventions.
Sony's upcoming Venom movie is reportedly close to casting an Oscar-nominated actress for a lead role opposite Tom Hardy . But the details of the character of the four-time Oscar nominee in the movie have not been revealed yet.
An Israeli-Palestinian peace deal would eliminate "one of the main excuses" used by terrorists in the region, he argued. The objective is "to reach a just solution based on the principle of the two-state solution and worldwide decisions".
The size of Saturday's tremor is smaller than the earthquakes registered as a result of all of North Korea's six nuclear tests. Previous quakes from North Korea have indicated nuclear tests by the reclusive state, the most recent earlier this month .
London Mayor Sadiq Khan and the city's taxi drivers union both said they supported the decision not to renew Uber's license. Saturday night the Save Your Uber in London campaign on the Change.org website had gained almost 600,000 signatures.
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Although Kylie was rumored to be pregnant with her ex Tyga's baby a few times when they were together, we never saw this coming. The Lip Kit creator and Scott started dating in April when Jenner called it quits with on-again off-again boyfriend Tyga .
The 31-year-old sustained a repeat hairline fracture of the metatarsal in his left foot during the training session on Monday. We and our captain are looking to the future. "Manuel will be available as strong as ever in January".
The holiday issue arose from a change from holiday allowance in the company running for a fiscal year to a calendar year. It also faces paying compensation of 250 euros ($300) per traveler for flights canceled on less than two weeks' notice.
Former USC coach suspended after Feds file charges
The scheme involved Evans allegedly taking bribes from these advisers to get his players to sign with their agencies. He will be staying with us as the associate head coach at Oklahoma State University.
50000 evacuate as Bali volcano swells
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Uber rival Lyft eyeing expansion into London market
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Keenum, Vikings Beat Buccaneers
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Polls open in New Zealand general elections
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Turkey: Iraqi Kurdish referendum illegitimate, unacceptable
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Moto X4 Android One edition goes official
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The free CCleaner software was compromised with malware
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Altherr's slam helps Phillies beat Dodgers, Kershaw
The Dodgers entered Monday with a magic number of four to clinch the National League West. "You can see him feeling for things". That was followed by a home run from third baseman Justin Turner to give the Dodgers a 2-0 lead five pitches into the game.