BMW, Volkswagen, Daimler Raided Over Steel-Buying Cartel

    There are indications that antitrust rules may have been violated, and the raids were conducted to investigate the facts, Kay Weidner, spokesman for the Federal Cartel Office, said in an e-mailed statement on Tuesday. He declined to identify any company. Volkswagen AG, BMW AG, Daimler AG and Robert Bosch GmbH were among six companies raided […]

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    Volkswagen Will Face $15 Billion Tab in U.S. Settlement

    Volkswagen AG’s price tag to settle lawsuits in the U.S. over its rigging of diesel emissions tests has jumped to more than $15 billion — $5 billion more than previously reported — on the eve of a settlement to be filed Tuesday in a San Francisco court. Under the deal, VW will set aside up […]

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    VW Chairman Under Fire From Investors for Dual Role in Crisis Now

    Poetsch received a tongue-lashing from investors for his shift last year from chief financial officer to the head of the supervisory board, which has oversight over top management. Underscoring the sour mood, some investors asked to have Stephan Weil, Lower Saxony premier and VW board member, take over the meeting. The motion was turned down. […]

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    The Belgian Socialist Investigating the Auto Industry Now

    The 46-year-old Belgian Socialist is leading a European Parliament committee set up in December as a response to Volkswagen AG’s cheating on tests of smog-causing emissions. Van Brempt says her goal is to draw common lessons about better EU lawmaking and put more effective rules in place rather than to point fingers at regulators or […]