All the day’s economic and financial news,as VW admits problems with the CO2 levels and fuel efficiency of 800000 vehicles 5.17pm GMTThe latest revelations from Volkswagen, this time involving “irregularities” in the levels of carbon dioxide emitted by 800000 of its cars, and have seen its shares slump once more. They closed down 9.5% at €100.45 ,wiping nearly €5bn off its market value nowadays. This is more than twice as much as the €2bn as it admitted the new problem would cost it. Since the crisis began VW has lost nearly €30bn of value.
US Fed Chair Janet Yellen Says: Raising Rates Sooner Allows More Gradual Pace Of Increases Over TimeOdds of Fed rate hike in December now hit 60% 5.16pm GMTVolkswagen has archaic US and Canadian dealers to discontinue selling recent models equipped with 3.0 V6 TDI diesel engines, Reuters reports:The discontinue-sale order follows a notice by the U.
S. Environmental Protection Agency that VW group brands had installed illegal devices on some 3.0 V6 diesel models.
VW and Audi dealers were ordered to discontinue selling new 2015-2016 models with the 3.0 V6 TDI, or including the VW Touareg and the Audi A6,A7, A8, and Q5 and Q7.
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Source: theguardian.com