VW's CEO defended his company's response to the recent emissions scandal, and said there were no plans to pull diesels from U.S. markets.» Read More
WASHINGTON— The Senate Finance Committee opened a probe Tuesday into Volkswagen's use of a federal tax credit intended for fuel-efficient cars as the company's emissions-rigging scandal widened. Orrin Hatch, R- Utah, and Ron Wyden, D- Ore. said in a letter to Volkswagen that more than $50 million in tax subsidies may have gone to VW owners under false pretenses.
Any issue with EPA's operations could lead Congress to request independent government inquiries of the agency by the watchdog Government Accountability Office and the EPA Inspector General, the aides said. Any evidence that other auto manufacturers have also used so-called defeat devices to evade EPA emissions standards could prompt lawmakers to...
A memo released by the House Energy and Commerce Committee identified the witnesses as Christopher Grundler, director of EPA's Office of Transportation and Air Quality, and Phillip Brooks, director of the agency's Air Enforcement Division.
WOLFSBURG, Germany— Volkswagen's new CEO has told more than 20,000 workers that overcoming its emissions-rigging scandal will "not happen without pain" and that the company will have to review its investment plans. Matthias Mueller vowed Tuesday that "we will overcome this crisis" but said that the company would have to be more careful about costs.
FRANKFURT, Germany— For Volkswagen, the cost of its cheating on emissions tests in the U.S. is likely to run into the tens of billions of dollars and prematurely end its long-sought status as the world's biggest carmaker. Already the company has set aside 6.5 billion euros to cover the fines and recalls— but it's a fair bet that's only the start.
Jim Cramer was shocked with the amount of good news bursting in the market on Monday. In fact, he's rethinking everything.
Wondering what the Fed will do next? Risk from a strong dollar could change the Fed policy path, one expert said.
VW has admitted that 8 million vehicles were fitted with software capable of cheating diesel emissions tests in the European Union.
BERLIN, Oct 5- Volkswagen has not found any evidence against three top engineers suspended as part of its internal investigation into the rigging of U.S. emissions tests, a source close to the company's supervisory board told Reuters on Monday. The three are Heinz-Jakob Neusser, head of technical development at the core VW brand; Ulrich Hackenberg, head of...
BERLIN— Volkswagen says 8 million cars in the European Union are affected by an investigation into whether the automaker manipulated emissions tests, according to a letter received Monday by German lawmakers. "In the European Union eight million type EA 189 EU5 diesel engines with a 1.2 liter, 1.6 liter and 2.0 liter engine capacity are affected," said the letter,...
European stocks accelerated gains into the close on Monday after a weak U.S. employment report dampened expectations that the U.S. Federal Reserve will start raising interest rates soon.
Traffic at Volkswagen dealerships remained "quite good" last month, despite the automaker's emissions test cheating scandal, Mike Jackson said.
Widely publicized jeremiads about emerging markets are mainly referring to East Asia's developing economies. They are totally wrong.
VW's board will meet on Wednesday to appoint finance chief Hans Dieter Poetsch head of the company's 20-member controlling panel.
BERLIN, Oct 4- Volkswagen's supervisory board will hold an extraordinary meeting on Wednesday at which finance chief Hans Dieter Poetsch is expected to be appointed as new head of the 20- member controlling panel, two sources said on Sunday. Europe's biggest carmaker faces the worst business crisis in its 78- year history after it admitted cheating diesel...
BERLIN— German Chancellor Angela Merkel has called Volkswagen's emissions-rigging scandal a "far-reaching event" and demanded the world's largest automaker quickly investigate it. The extent of the fallout from the scandal, which erupted Sept. 18 when the U.S. Environmental Protection Agency said VW had cheated on tests of its diesel cars, remains unclear as...
Volkswagen's decision to nominate a long-serving executive as chairman has thrown more scrutiny on the carmaker's corporate governance and culture, the FT reports.
SYDNEY, Oct 3- Volkswagen AG said on Saturday it was suspending sales of some diesel vehicles in Australia that may have been fitted with devices designed to mask the level of emissions. Almost two weeks after confirming 11 million vehicles around the world had been fitted with so called "defeat devices," the German automaker and subsidiary Audi have not provided...
Christopher Grundler, director of the EPA's Office of Transportation and Air Quality, told Reuters that new emission tests announced on Sept. 25 would continue "indefinitely" as part of the agency's effort to detect so-called defeat devices of the kind Volkswagen AG has admitted using to elude EPA laboratory emission tests for diesel vehicles.
Gold jumped more than 2 percent on Friday and was on track for its biggest daily gain since January on a flurry of short-covering after jobs data.