The Fed is expected to cut rates Wednesday, but it is unlikely to tell markets what they want to hear on future rate cuts.Market Insiderread more
Pelosi said Trump should not have tried to address China's trade practices in a way that opened Americans up to financial pain.Politicsread more
Investors await the Fed's latest decision on monetary policy, set to be released on Wednesday stateside. The U.S. central bank is widely expected to cut rates by 25 basis...Asia Marketsread more
TransferWise posted an annual net profit of £10.3 million on revenues of £179 million.Technologyread more
Live the high life with a night's stay at Highclere Castle, the iconic stately home made famous by Downton Abbey.Spendread more
Large banking institutions face the risk of failure if interest rates in Europe continue to stay negative, warns the global chief economist of the Economist Intelligence Unit.Banksread more
The fallout from two fatal crashes of Boeing 737 Max planes has ensnared the manufacturer's most-loyal customer: Southwest Airlines. The carrier has canceled thousands of...Airlinesread more
Brent crude oil jumped the most in history in the previous session after attacks on Saudi's oil industry disrupted the kingdom's production.Marketsread more
In the survey, conducted after the third in the Democratic Party's series of debate, the former vice president draws 31% compared to 25% for the Massachusetts senator. At 14%,...2020 Electionsread more
Stocks rose slightly on Tuesday, but gains were capped as the Federal Reserve kicked off a two-day monetary policy meeting.US Marketsread more
The U.S. Air Force's top general says he hasn't received direction to send additional bombers to the Middle East after what is believed to be Iranian attacks on Saudi Arabian...Defenseread more
Washington is currently holding out for fresh trade talks with the European Union and has said if it's not satisfied it could slap tariffs on EU cars and parts coming into the United States. Trump has complained about German cars' presence on U.S. streets and tweeted threats to tax European, and particularly German, vehicles.
Diess has said import tariffs could cost VW as much 2.5 billion euros ($2.8 billion) each year.
The German firm announced in January that it's investing $800 million in its factory in Chattanooga, Tennessee to prepare the location for the production of new electric cars.
Speaking to CNBC's Annette Weisbach at VW's Wolfsburg headquarters, the German car chief said the investment appeared to please the U.S. president.
"We received a positive tweet," said Diess, before adding that he hoped VW would "do everything to avoid import taxes."
Diess added that currently VW only has a 4 percent market share in the United States and is committed to growing that number to become a "volume producer."
On a global basis VW Group posted 2018 full-year revenues of 235.8 billion euros on Friday. In its outlook for 2019, Diess said he expected a challenging year but predicted sales to rise by around 5 percent.
The key market of China could prove a challenge, however, with Diess admitting that sales there had slowed in the final quarter of 2018 and January 2019 had witnessed a 10 percent slump year-on-year.
Shares of Volkswagen initially rose after the news, but were 0.25 percent lower by 3:45 p.m. London time on Friday afternoon.