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July 23, 2014
07:20 EDTVLKAY, FIATYFiat head says VW tie-up never an option, Reuters says
Fiat (FIATY) Chrysler CEO Sergio Marchionne ended all of the rumors of a potential tie-up with Volkswagen (VLKAY) saying that the possibility had never been an option, reported Reuters. A German magazine earlier in July had made a report that Volkswagen chairman Ferdinand Piech was in discussions with the owners of Fiat Chrysler about purchasing all or part of the firm, but both companies denied any agreement plans. Reference Link
News For FIATY;VLKAY From The Last 14 Days
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November 27, 2015
09:46 EDTVLKAYVW labor boss says emissions scandal slowing new car orders, Reuters reports
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08:25 EDTVLKAYAudi engines target of focus in Volkswagen emissions crisis, WSJ says
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07:44 EDTVLKAYVW backs $7B in planned provisions despite simple fix, Reuters says
Volkswagen will not reduce planned provisions of $7.1B for the costs of the emissions test cheating scandal, though the fix for 8.5M cars in Europe has been simpler than anticipated, Reuters reports. The company is seeking as much as $21.18B in bank funding in an effort to cope with expected costs of the scandal, which certain analysts indicated could top EUR40B, the report says. Reference Link
November 25, 2015
17:35 EDTVLKAYCalifornia regulator orders Volkswagen to draft recall plan for 3-liter vehicles
California's Air Resources Board has sent an "In Use Compliance" letter notifying Volkswagen (VLKAY), Audi (AUDVF), and Porsche (POAHY) to start the process to recall and repair illegal emissions software in all 3-liter diesel vehicles, model years 2009-2015, sold in California. "The companies will now have 45 business days to assemble their plan and deliver it to the Air Resources Board. This action is the result of an admission by officials at Audi, manufacturer of all the engines involved, that the vehicles contain three undisclosed auxiliary emissions control devices," said the agency. Reference Link
08:31 EDTVLKAYVolkswagen reiterates $4.4B Spain investment plan, Reuters reports
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November 24, 2015
06:56 EDTVLKAYGerman prosecutors investigate VW for tax evasion, Reuters says
German public prosecutors are launching a probe into alleged tax evasion in connection with the emissions cheating scandal surrounding Volkswagen, Reuters reports, citing a joint report from daily paper Sueddeutsche Zeitung and broadcasters NDR and WDR. The probe centers around five Volkswagen employees and concerns several million euros of evaded tax payments connected to the the rigging of CO2 emissions, the report says. Reference Link
06:50 EDTVLKAYVW CEO: Steps to refit diesel engines 'manageable,' Reuters says
The moves needed to fix roughly 8.5M Volkswagen cars in Europe equipped with illegal emissions-control software are technically and financially "manageable," Reuters reports, citing comments from Volkswagen CEO Matthias Mueller. Reference Link
November 22, 2015
16:53 EDTVLKAYVolkswagen denies report of low sales, Reuters says
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November 20, 2015
13:17 EDTVLKAYVolkswagen close to securing EUR20B bridge loan, WSJ says
Volkswagen AG is close to approaching 13 international banks for its planned EUR20B bridge loan with the goal of restoring confidence in its creditworthiness, the Wall Street Journal reports, citing people familiar with the matter. The 12-month bridge loan should be finalized by the end of next week, the people noted, adding that banks would take credit portions of between EUR1.5B-EUR2.5B. Reference Link
08:21 EDTVLKAYVolkswagen cuts $1.1B from 2016 investment plan, Reuters reports
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06:04 EDTVLKAYReport: Volkswagen diesel recall to cost less than expected, Reuters says
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November 19, 2015
18:18 EDTVLKAYU.S. to investigate Bosch's role in Volkswagen emission scandal, Reuters says
U.S. authorities are conducting a probe into German auto supplier Bosch's role in Volkswagen AG's emission scandal, Reuters reports, citing people familiar with the matter. Reference Link
12:51 EDTVLKAYVolkswagen to reduce capex amid weakening of labor unions, Reuters says
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10:49 EDTVLKAYVW granted extra time to give full CO2 information to EU, WSJ says
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09:03 EDTVLKAYVolkswagen to suspend five-year plan practice due to scandal, Bloomberg says
Volkswagen may abandon its practice of setting a rolling five-year investment budget in response to the emissions-cheating scandal, said Bloomberg, citing people close to the company's supervisory board. That board, when it meets Friday, will discuss investment cuts as well as possibly shortening its spending plan to three years or less for added flexibility amid the scandal fallout, the report said. Reference Link
06:35 EDTVLKAYVW U.S. plant workers to vote over UAW inclusion, Reuters says
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06:29 EDTVLKAYAudi U.S. president: VW scandal won't diminish Audi sales in U.S., AP reports
Audi (AUDVF) U.S. sales will be largely unaffected by Volkswagen's (VLKAY) emissions cheating scandal, the Associated Press reports, citing comments from Audi of america president Scott Keogh. "We'll have a record November and a record December," Keogh said. Reference Link
06:23 EDTVLKAYVW to give details of emissions scandal in meetings with regulators, WSJ says
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06:15 EDTVLKAYVW says 120,000 diesel owners in U.S. will receive gift cards, Reuters says
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November 18, 2015
20:04 EDTVLKAYVolkswagen appoints Porsche's Steiner as compliance commissioner
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