Former Volkswagen chief engineer arrested for dieselgate
30 September, 2017, 15:50 | Author: Samuel Sharp
Volkswagen says it expects to take charges of about United States dollars 2.9 billion in the third quarter to cover the costs of buying back and retrofitting diesel cars in North America.
Europe's biggest automaker admitted in September 2015 that it had used illegal software to cheat US diesel emissions tests.
Volkswagen added provisions of about 2.5 billion euros ($3 billion) on Friday to the mounting total from its diesel emissions scandal, which has already cost the company around 20 billion euros.
Separately, Porsche SE, which owns a 30.8-per cent stake in VW and tracks its earnings, said the new provision would also affect its results, but stuck to the wide range for its expected 2017 post-tax profit of 2.1-3.1 billion.
Volkswagen is taking a surprise US$2.95 billion charge in the third quarter because the effort to retrofit or buy back USA diesel vehicles that were part of an emissions cheating scandal is more complex than expected.
Earlier this year former Volkswagen Group engineer James Liang was sentenced to 40 months prison in the USA for his role in the emissions-dodging scandal, while former Volkswagen executive Oliver Schmidt will be sentenced in the USA on December 6.
The charge will take a bite out of the financial results scheduled for release on October 27, the Wolfsburg-based company said, explaining that the make-good plan in response to the scandal is "proving to be far more technically complex and time-consuming" than anticipated.
German media named the arrested suspect as Wolfgang Hatz, who stepped down from his post on Porsche's management board past year after being suspended over the Dieselgate investigation. Hatz join Volkswagen in 2001, ran Audi's engine development program until 2007, then was made a board member at Porsche AG, Volkswagen's sports-car maker, in charge of research and development. He was suspended after the diesel emissions test-cheating was exposed. "Customers have to wait longer for their vehicles to be repaired".
The company is scheduled to present third-quarter financial results late next month.
Need more room to type those deep thoughts? Most Japanese tweets are 15 characters while most English tweets are 34. They acknowledged that some people on Twitter have strong emotional attachment to the current limit.
The lunar base will serve as a staging area for interplanetary missions and is a key component in getting humans to Mars. NASA said the agreement reflected the two agencies' common vision for human exploration.
Rather than excising bigotry and extremism, they've sat back and remained silent as it's metastasized within the Republican Party. But it's far more important than that indicates - it's a marker in estimating President Donald Trump's hold on the GOP.
This suggests that users likely feel that they must edit their commentary or thoughts down in order to get their message across. Twitter product manager Aliza Rosen wrote, "Trying to cram your thoughts into a Tweet - we've all been there, and it's a pain".
Ivanka Trump, the president's daughter and adviser , has been overseeing the White House's efforts for workforce development. It is to complement President Donald Trump's Monday presidential memorandum that directed the U.S.
The European Commission fined Google $2.8 billion this summer after determining that Google acted abusively in shopping. Google presented its plans to the commission at the end of August but did not make them public until Wednesday.
What Google is trying to imply is that time has come for Nexus 5X and Nexus 6P owners to start looking for a new smartphone. The next rumored feature for the Pixel 2 smartphones is what's now being called as " Music Recognition ".
The IOC said it was helping North Korea prepare its athletes for the Games and would cover costs of their equipment if needed. North and South Korea remain technically at war after their 1950-53 conflict ended with a truce and not a peace treaty.
Prince Harry is godfather to six of his friends' children, saying previously that he would "like to think" he does a good job. Attending the Volleyball Finals of the Invictus Games in Toronto , Harry sat himself next to a little girl and her family.
Fonda went on to speak at length about the film , delving into her character and plot details with help from Redford. "Right now. You admit you've had work done, which I think is to your credit, but you look unbelievable ", she said.
Cubs' magic number one following win over Cardinals
The Cubs lead second-place Milwaukee by 5 1/2 games and can go six up with six to play with a win Monday, as the Brewers are idle. Louis (81-75), All-Star catcher Yadier Molina left the game in the seventh after taking consecutive foul balls off the mask.