Ex-Porsche executive arrested in Audi emissions probe
30 September, 2017, 15:38 | Author: Celia Hoffman
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. As The Wall Street Journal pointed out, however, VW spins off enough cash to pay the costs of the diesel scandal, but that spending hampers its ability to invest in innovation.
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.
VW first admitted in September 2015 that it had used illegal software to cheat USA emissions tests. The scandal has now cost the company around $30 billion. Two Volkswagen employees have also faced charges in the USA, with one sentenced to just over three years in prison.
Volkswagen made the announcement prior to the third quarter earnings report, scheduled to be released on October 27. Still, the investment vehicle for the descendants of the VW Beetle's creator stuck to a forecast for net income of at least 2.1 billion euros this year.
Iran tests multi-warhead ballistic missile
Criticism by the Trump administration of the 2015 nuclear deal has focused heavily on Tehran's continuing missile program. Trump has denounced Iran as a "rogue regime" and said its government was bent on "death and destruction".
How North Korea Has Weaponized Bitcoin
Trump asserted that North Korea's reckless pursuit of nuclear weapons threatens entire world with enormous loss of human life. North Korea has previously embraced racist, sexist and just plain rude statements about its enemies.
Volkswagen said on September 29 it was increasing provisions related to its Dieselgate scandal by 2.5 billion euros.
VW faces an array of legal challenges in Germany and worldwide relating to the software, installed mainly in own- brand vehicles but also in cars made by Audi, Skoda and Seat, among its stable of 12 brands. The fix is taking longer and some cars had to be worked on a few times.
The new charge comes 15 months after Volkswagen and US regulators and law enforcement agencies agreed on a program by which the company agreed to buy back or fix about 50,000 Volkswagen and Audi models. The hit will wipe out more than half of Volkswagen's projected 4.45 billion euros in earnings for the period, according to three analyst estimates compiled by Bloomberg.
Hatz was a close ally of former VW Group CEO Martin Winterkorn and, if confirmed, his arrest would make him the highest VW employee taken into custody by prosecutors, who earlier this year arrested an Audi engineer.
The lack of electricity has also hugely impacted Puerto Rico's clean water supply, and many areas now have no/very limited access. John McCain , R-Ariz., in a tweet , noted that the administration "has finally waived" the Jones Act.
Meghan looked effortlessly flawless in ripped blue jeans and a white shirt, shielding her eyes with a pair of dark glasses. On Monday, they both wore jeans and sunglasses, but did not escape the notice of the crowd, which cheered their arrival.
The storm is expected to dump between 12 to 18 inches of rain on Puerto Rico before heading towards the Dominican Republic. Luis Gutierrez and United Airlines CEO Oscar Munoz, a plane of supplies also is on its way to Puerto Rico .
Panasonic 40 inch LED TV TH-40E400D priced at Rs 41,900 is being offered at Rs 26,999 with an astonishing 35% discount percentage. Flipkart continues its tradition of Big Billion Days sale, where it offers attractive deals on a wide range of products.
Simone Lee led the Nittany Lions with 22 kills, while Haleigh Washington and Ali Frantti chipped in 12 and 10 kills respectively. Until the final 96 seconds, when McSorley, Barkley and Johnson saved the day with a memorable scoring drive.
"But that required a dialogue we have not been able to have", said Tom Elvidge, Uber's General Manager in London . But he also suggested that Uber might eventually be allowed to continue operating in London.
Louis-Dreyfus also wasn't afraid to get political at the show, nodding to the eerie way Veep has collided with real-world politics.
Trump to further limit refugee admissions to US
Because such approaches promote well-being and stability among displaced populations, they serve US national security interests. President Obama wanted to raise that number to 110,000 in 2017. "It's devastating for refugees who are overseas", she said.
America's Got Talent picks victor of $1million
Coming in third was Light Balance , followed by Mandy Harvey and Sara & Hero, in fourth and fifth places, respectively. You can actually watch America's Got Talent on UK TV, airing on TruTV on Tuesday and Friday nights.
A First: A US Military Base in Israel
There are conflicting reports regarding which military specifically will retain jurisdiction over the base. Israeli army sources said that cooperation between the Israeli Air Force and the US Army has been routine.
Heavy rain batters Mumbai again; traffic at a standstill
The main runway at the airport is likely to remain closed till this morning with operations continuing on a secondary runway. The runway will be closed off for maintainance till 2pm today. "The main runway is out of use due to heavy rains".
Kenya Supreme Court nixed poll because it couldn't see data
On Monday, the French technology company supporting the election said it would be almost impossible to be ready for that date. Maraga said the opposition had failed to show evidence Kenyatta had campaigned using state resources or undue influence.