Daily Management Review

Volkswagen To Expand The Fine Margin


The reports propose two alternate possibilities for the VW’s next course of action regarding its emissions scandal.

Volkswagen, the German carmaker, has reported that the company will be raising its provision level for the “emission scandal”, whereby the amount will increase to “€10bn and €20bn from €6.7bn”.
According to Reuters, who gathered information from a source familiar to this issue:
"There is no indication that it will be significantly above €20bn.
"From what we know it will definitely be more than €10bn."
The fine, as understood, will cover “compensation for customers, the repair of manipulated vehicles and a possible fine by the US Department of Justice”. Moreover, the source confirms that:
“The figure includes the €6.7bn Volkswagen put aside in the third quarter and could be spread out over two years”.
The said news came about as the company of Vokswagen had prepped itself to make an appearance in the U.S. court for giving an explanation of “how it will fix affected cars and compensate their owners”.
As per Die Welt’s report, the Volkswagen struck a deal to pay the owners of the United States’ diesel a sum “up to $5,000 each”. However, some other reports suggested that VW would “instead” settle for a buyback of the “500,000” affected vehicles in the U.S.

Science & Technology

Amazon will allow customers to pay with palms instead of cards

Complete Computer System For Self Driving Cars Launched By Qualcomm

In A Lifetime We Could Accumulate 20Kg Micro-Plastic In Our Body

Creator Of The First 'Gene-Edited' Babies Of The World Gets 3 Year Jail Term In China

China to deploy giant Beidou global navigation system in 2020

VW Zwickau factory is getting ready for electric cars production

Airbus: Passenger hybrid aircraft to take off before 2035

Ocado To Introduce ‘Mini Robotic Warehouse’ With Standard Productivity

AB InBev’s Piled Up Alcohol Is ‘Too Good to Waste’

Ericsson Mobility forecasts nearly fourfold increase in mobile traffic by 2025

World Politics

World & Politics

UK adds Greenpeace, PETA to extremist organizations list

Indonesia, UAE sign nearly $23B deal

US to respond to Iran’s attacks on US bases in Iraq

Irish Passport issues hit record in anticipation of Brexit

Reporters Without Borders calls to release Julian Assange

IMF allocates Ecuador $ 500 mln more to support reforms

French pension reform chief to resign

Poland refuses to join EU 2050 climate deal