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  • Europe ekes out gains as VW CEO steps down Wednesday, 23 Sep 2015 | 11:30 AM ET
    Rain clouds are seen over a Volkswagen symbol at the main entrance gate at Volkswagen production plant in Wolfsburg, Germany.

    Europe stocks finished marginally higher on Wednesday, as investors digested the latest from Volkswagen and continued to ponder China's economic health.

  • Martin Winterkorn resigns as Volkswagen CEO Wednesday, 23 Sep 2015 | 11:26 AM ET
    Volkswagen CEO Martin Winterkorn.

    The embattled CEO was "shocked by the events of the past few days" and "stunned that misconduct on such a scale was possible in the Volkswagen Group."

  • *Platinum sinks to lowest since 2009. NEW YORK, Sept 23- Share prices firmed after an Asian equities selloff on Wednesday, with investors taking cues from rising commodity prices and looking past China's worst manufacturing contraction since the global financial crisis. Copper bounced from near four-week lows as short sellers took profits.

  • VW had previous run-in over 'defeat devices' Wednesday, 23 Sep 2015 | 10:50 AM ET
    Rain clouds are seen over a Volkswagen symbol at the main entrance gate at Volkswagen production plant in Wolfsburg, Germany.

    VW had a previous run-in with authorities over vehicles that used so-called "defeat devices" to disable pollution-control systems. NBCNews reports.

  • NHTSA to crack down on automakers' claims Wednesday, 23 Sep 2015 | 10:07 AM ET
    Martin Winterkorn, chief executive officer of Volkswagen AG (VW).

    The U.S. government will be less accepting of auto industry claims, warns the top federal vehicle safety regulator.

  • Sept 23- AutoNation Inc, the largest U.S. auto retailer, said the "brand position" of Volkswagen AG in the United States was at risk following the German carmaker's manipulation of emission data. "The Volkswagen issue is another blackeye for the diesel engine overall," AutoNation Chief Executive Mike Jackson said in an interview on CNBC. AutoNation has six...

  • AutoNation CEO: VW deliberately schemed to deceive Wednesday, 23 Sep 2015 | 9:10 AM ET
    A sign marks the location of a Volkswagen dealership in Evanston, Ill.

    Mike Jackson, leader of the nation's largest auto dealer chain, said Wednesday Volkswagen's U.S. emission deception is "absolutely shocking" and a "systemic failure."

  • *Platinum sinks to lowest since 2009. LONDON, Sept 23- European shares rose on Wednesday after business activity data pointed to steady growth across the continent, contrasting starkly with figures that showed the biggest contraction in China's manufacturing sector since the global financial crisis. At midday in Europe the FTSEuroFirst index of leading 300...

  • *Gold steadies on less risk appetite. Gold steadied, following two days of losses, as weak Chinese factory data soured investor appetite for risk. Gold rose 0.2 percent to $1,126.70 an ounce, after losing 1.3 percent over the past two days on renewed expectations that the Federal Reserve will raise U.S. interest rates for the first time in nearly a decade by the end...

  • In early trade the FTSEuroFirst index of leading 300 European shares, Germany's DAX and France's CAC 40 were all up a third of one percent, and Britain's FTSE 100 was up two thirds of one percent. But Asian stocks posted their biggest single-day fall in a month, with MSCI's broadest index of Asia-Pacific shares outside Japan down 2.3 percent, its biggest daily loss...

  • *Sets aside 6.5 bln euros, says amount could rise. BERLIN, Sept 22- Volkswagen CEO Martin Winterkorn faced a reckoning with his board on Wednesday, summoned to explain how the company falsified U.S. emissions tests in the biggest scandal in the 78- year history of the world's largest car maker. A story in the Tagesspiegel newspaper, denied by Volkswagen, said the...

  • BRUSSELS, Sept 23- European politicians on Wednesday voted to speed up rules to tighten compliance with pollution limits on cars, adding to pressure for reform after U.S. regulators caught Volkswagen AG rigging the performance of vehicles in tests. The European Union executive, working for years to close loopholes in testing procedures for new vehicles, has...

  • *Platinum falls to fresh 6-1/ 2- year low. SINGAPORE, Sept 23- Gold rose after two days of losses on Wednesday as equities took a hit from weak Chinese factory data, while platinum slid to a fresh 6-1/ 2- year low as investors feared a drop in demand from the auto industry. Platinum fell to $925.30 an ounce, its lowest since January 2009, before recouping losses to trade up...

  • Asian stocks lose footing on renewed China jitters Wednesday, 23 Sep 2015 | 3:09 AM ET
    A board shows the stock movements inside the Shanghai Stock Exchange in the Lujiazui Financial district of Shanghai, China.

    Asian equities slid deeper into the red on Wednesday, after a preliminary reading of the manufacturing sector rekindled worries over China.

  • VW warns on $7.3B hit: Scandal threatens Germany Wednesday, 23 Sep 2015 | 2:47 AM ET

    Volkswagen's emissions scandal fallout may not limit itself to just the automaker: Germany’s hard-won reputation for trustworthiness is at stake.

  • But he and his small research team at West Virginia University may have done exactly that, with a $50,000 study which produced early evidence that Volkswagen AG was cheating on U.S. vehicle emissions tests, setting off a scandal that threatens the German automaker's leadership, reputation and finances. The results of that study, which was paid for by the...

  • LOS ANGELES, Sept 22- The California Air Resources Board will broaden its testing of Volkswagen AG cars with diesel engines to include those with 3.0- liter V6 engines sold by two subsidiaries, a spokesman for the state regulator said on Tuesday. Audi did not respond to a request for comment. Young said VW engineers acknowledged the use of a so-called defeat...

  • NEW YORK/ WASHINGTON, Sept 22- Volkswagen AG will probably have to show there was some legitimate reason to install software that led to false vehicle emissions tests if it is to avoid U.S. criminal charges, lawyers said on Tuesday. A Justice Department spokesman declined to comment. But there will likely be a debate between the Justice Department and...

  • NEW YORK, Sept 22- Nissan Motor Co CEO Carlos Ghosn said it would be difficult for an automaker to conceal internally an effort to falsify vehicle emissions data, such as has happened at Volkswagen AG. "I don't think you can do something like this hiding in the bushes," said Ghosn, who is also CEO of Nissan's alliance partner, Renault SA, as well as chairman of their...

  • Why this might not be the best stock strategy Tuesday, 22 Sep 2015 | 6:30 PM ET
    Trader on the floor of the New York Stock Exchange.

    "Buy the dip" may not be the best stock market strategy just now, some analysts say.