Volkswagen to take €2.5bn hit from emissions scandal

Former VW engine chief arrested in diesel investigation, report says

The company has recalled around 11 million vehicles worldwide since admitting to cheating emissions tests.

Frankfurt am Main, Sept 28 (AFP) German prosecutors today said they had arrested a second employee of luxury carmaker Audi as part of a probe into parent company Volkswagen's emissions cheating scandal.

The company said the extra charge is because engines are proving "far more technically complex and time consuming" to adapt.

Here is how anyone can tweet in 280 characters right now
There are strong arguments on both sides of the issue, said Kevin Krewell, principal analyst at Tirias Research . Asked past year about the fate of the 140-character limit, Dorsey was adamant it would remain in place.

Volkswagen expects to take a €2.5 billion (£2.2bn) hit as a result of the diesel emissions scandal.

On Wednesday, police in Munich arrested former Volkswagen engineer Wolfgang Hatz in connection with the case.

Up until the most recent charge, VW has set aside €22.6billion euros to cover the costs of fines against them and for vehicle retrofits.

Chaos in Ugandan parliament as MPs debate age limit motion
Police and the military had also battled various demonstrators in different towns, leading to the arrest of several people. The local media reported that it around twenty minutes for the situation to return to normalcy in Parliament.

Volkswagen says it expects to take charges of about Dollars 2.9 billion in the third quarter to cover the costs of buying back and retrofitting diesel cars in North America. The scandal has also raised questions and sparked investigations into emissions cheating at numerous other automakers, and has all but ruined diesel's reputation in the passenger auto market around the world. While most of the cars in Europe have been repaired, tougher emissions and fuel economy rules in the USA have made the job more hard, the company said. The company has been facing a shift in automotive technology and is planning to invest about 20 billion euros by 2030 to develop electric vehicles and another 50 billion euros to purchase the batteries needed to power the cars.

The reason for the latest charge is complications in fixing these engines which were harder to do than first expected and relates to the program to buy back or fix up 475,000 2.0-litre diesel cars.

The additional provisions will hit operating results in its third-quarter report, due October 27, the Wolfsburg, Germany-based company said Friday in a statement.

Debra Messing 'Dismayed' With Appearance on Megyn Kelly's Show
"You've been an example to everyone on how to age beautifully and with strength", Kelly remarked. In 2015, Fonda said she was ashamed that she was so neurotically obsessed with her appearance.

Three months ago, the U.S. Environmental Protection Agency approved planned fixes to Volkswagen's 2-liter engine diesel cars from 2009 through 2014, including the Jetta, Jetta SportWagen, Golf, Beetle, Beetle Convertible and Audi A3 models.

Related News:

  • United States  slaps 220 percent duty on Canada's Bombardier jets

    United States slaps 220 percent duty on Canada's Bombardier jets

    International Trade Commission on Tuesday ruled that it would slap a 220% tariff on the cost of Bombardier CSeries jets sold to the U.S.
    Saudi Arabia to let women drive

    Saudi Arabia to let women drive

    Prince Khaled, a son of the king, said the decision was as much about economic reform as social change. In recent years, a number of activists defied the ban, leading to their arrests.
    In UN General Assembly Myanmar Denies Atrocities, Ethnic Cleansing In Rakhine State

    In UN General Assembly Myanmar Denies Atrocities, Ethnic Cleansing In Rakhine State

    More than 400,000 Rohingyas have fled to Bangladesh to escape death and destruction of villages in the Western state of Rakhine. Rakhine state has been in a turmoil since August 25 after Rohingya militants launched deadly attacks on police posts.
  • Sessions Says NFL Kneelers Made a 'Big Mistake'

    Sessions Says NFL Kneelers Made a 'Big Mistake'

    Stanley shows that, with very few exceptions, college administrators aren't going to impose meaningful discipline on their own. It's in our Constitution. "But you can go back 50 or 60 years and substitute right-wing suppression for left-wing suppression".
    Man in permanent vegetative state 'regains consciousness' after pioneering nerve implant

    Man in permanent vegetative state 'regains consciousness' after pioneering nerve implant

    Research was led by Angela Sirigu and her colleagues from the Institute for Cognitive Sciences-Marc Jeannerod, Lyon, France. For the first time, the unnamed patient was able to follow a moving object with his eyes and turn his head on request.
    Cubs' Jon Lester doesn't understand why Nacho Man is famous

    Cubs' Jon Lester doesn't understand why Nacho Man is famous

    First, here's Cubs shortstop Addison Russell pursuing a foul ball well into contested territory along the third base wall. Chicago can wrap up the division with a win today against the Cardinals, or a loss by Milwaukee against Cincinnati.
  • Taliban claims responsibility for Kabul airport attack

    Taliban claims responsibility for Kabul airport attack

    Five people were injured in the rocket attack. "No other country desires peace in war-torn Afghanistan than Pakistan", he added. He added that "the sooner the Taliban recognizes they can not win with bombs, the sooner the killing will end".
    Russia, US shoot for the moon with joint lunar station project

    Russia, US shoot for the moon with joint lunar station project

    NASA said they share a common vision for space exploration and will work on new projects - including the Deep Space Gateway . Other worldwide partners might also come onboard to work alongside the United States and Russian Federation .
    The Voice Returns Tonight on KNWA

    The Voice Returns Tonight on KNWA

    Miley Cyrus echoed Levine's sentiments, declaring "I wish I would have pushed" after finding out that Jones was only 15 years old. Adam was beyond ecstatic to have Dave on his team, and we're looking forward to seeing what they accomplish together this season.
  • Porsche 911 GT2 RS

    Porsche 911 GT2 RS

    Kern ultimately pulled the record-setting laptime, an incredible 6 minutes and 47.3 seconds, with an average speed of 184.11kph. Well, strap yourself in, because Porsche has today confirmed just how far below that 7-minute barrier they have gone.
    'Highest Ranking' Russian General Killed in ISIS Attack in Syria

    'Highest Ranking' Russian General Killed in ISIS Attack in Syria

    President Putin gave Asapov, then a colonel, the "For Merit to the Fatherland" state award in 2013. Together with Asapov, that brings the overall death toll of Russian troops in Syria to 37.

    Trump Rips Nuclear Deal Following Iran's Missile Test

    He is due to report to Congress on October 15 on whether or not he believes Iran is in compliance with the nuclear deal. "When it comes to defending our country, we will ask nobody for their permission", President Hassan Rouhani said.


Most liked

Prices for Iranian crude exceed $53 per barrel
November West Texas Intermediate crude fell 5 cents, or 0.1%, to $51.83 a barrel on the New York Mercantile Exchange. The more modest rally in WTI widened to more than $6 a barrel the USA benchmark's discount versus to Brent .

India vs Australia 4th One Day International Toss, Line Ups, Live Streaming
The visiting Australian team will be playing for "pride" in the remaining series, as stated by Australian opener David Warner . Hardik Pandya and Kedar Jadhav put on 78 for the fourth wicket until Adam Zampa got some revenge on his chief tormentor.

Student stabbed to death at New York City school, police say
He was arrested in the school and taken to the precinct. "He likes Nicki Minaj", she added. "He likes Kylie Jenner", she said. I know my child!' Matthew McCree, 15, was fatally stabbed at Urban Assembly School for Wildlife Conservation in the Bronx.

Digging Into The Latest GOP Tax Plan
Other proposals, such as the elimination of the estate tax and the alternative minimum tax, would benefit upper-income earners. The proposals also calls for doubling the standard deduction to $24,000 for married couples and $12,000 for single filers.

Mourinho hopes Fellaini recovers in 2 weeks for Man United
The link-up between Dzagoev and Vitinho will be key if they want to get a result against Manchester United on Wednesday . Marouane Fellaini and Michael Carrick joined Paul Pogba in missing the trip to Russian Federation .

France leaves door open for Bombardier to join Siemens Alstom
The merger between Siemens' and Alstom's rail units has yet to be approved by the European Commission's competition authorities. A dominant player in Asia has changed global market dynamics and digitalsation will impact the future of mobility.

'We are disappointed in certain so-called Republicans' who blocked Obamacare repeal
Susan Collins, R-Maine, tried that roughly a year ago with a more moderate ACA replacement bill, which subsequently went nowhere. She said the legislation is "deeply flawed", despite eleventh-hour changes its sponsors have made in search of support.

Might Athlete Protests Reach Podiums at the Winter Olympics?
The IOC said it was helping North Korea prepare its athletes for the Games and would cover costs of their equipment if needed. Other winter sports powerhouses said they were monitoring developments but had no plans to miss the event.

Crude oil rallies amid talk of OPEC production cut deal extension
There was a discussion about monitoring exports along with production but there was no concrete announcement on that front. Turkey can " close the valves " on oil shipments from Kurdistan, Turkish President Recep Tayyip Erdogan said .

Businesses give $300M toward K-12 computer science education
General Motors CEO Mary Barra is endorsing a new initiative by the Trump administration to increase support for STEM education. Ivanka Trump, the president's daughter and adviser , has been overseeing the White House's efforts for workforce development.

How Harry And Meghan Finally Made Their Public Debut
They both appeared at the Invictus Games opening ceremony on the weekend, but sat apart and were not photographed together. Toronto is also where Markle spends much of her time filming Suits so her attendance does not come as much of a surprise.

NKorea lacks ability, intent to attack United States planes
US analysts now say North Korea may have as many as 60 nuclear weapons, according to a Washington Post report. Trump also used his first address to the United Nations n to threaten to " totally destroy " North Korea .

NBC 'Sunday Night Football' ratings lowest for Week 3 since 2006
Other networks had to deal with National Football League games running longer than the time they were allotted on television. At some games Sunday, players kneeled in large numbers during the anthem and were critical of Trump's comments.

It's Tillerson vs. Haley Over Iranian Nuclear Deal
Since then, however, she has proven to be politically adept and forceful in defense of the Trump administration's agenda. In Trump's speech Tuesday, he denounced North Korea, vowing to " totally destroy " the country if the US was provoked.

Trump Questions Nuclear Deal After Iran Tests New Ballistic Missile
Addressing the UN General Assembly (UNGA)'s 72nd session on Tuesday, Trump branded the agreement as "an embarrassment" for the US. Mr Rouhani said Iran would strengthen its missile capabilities without asking for any country's permission.