Wednesday, January 11, 2017

Diesel scandal: VW reaches agreement with U.S. Department of justice to pay a penalty of 4 … – daily mirror

Ex-Volkswagen chief Executive Martin Winterkorn in the coming week the investigative Committee of the Bundestag. “He has Come for the 19. January promised", declared on Wednesday the Chairman of the Committee, Herbert Behrens (left party). Winterkorn’s outstanding lawyer confirmed this. The former VW boss was known in the Diesel scandal by the end of 2015 to be resigned. In April 2016 appointed Committee of inquiry to clarify whether the government and other authorities were involved in the manipulation of the auto group or not timely enough for a detection.

The Federal government liked on Wednesday no comment on the new, massive accusations against former and current VW boards. “Wholeheartedly” must inform the company of everything, the Federal Ministry of economy repeated an old claim. The “Süddeutsche Zeitung" had reported statements by two key witnesses, who had said in interviews with the U.S. Department of justice, Winterkorn and the President of the VW brand boss, Herbert Diess had clearly been earlier and the more concrete as claimed in the Diesel-dedicated to fraud. An old suspicion of the should votes the new witness statements – Volkswagen in Argumentationsnöte would bring. So far, grain and Diess innocence presumptions apply for the winter. The group dismissed the reports.

in The evening, shared with Volkswagen and the U.S. Department of justice, we have agreed in the Diesel-affair on penalty payment in the amount of 4.3 billion dollars. The car company admitted in a confession of guilt of criminal conduct. In addition, criminal charges against six of the VW Manager were announced. “Volkswagen regrets the actions that led to diesel crisis, deeply and sincerely,” said VW CEO Matthias Müller.

Insider: diesel gate VW costs less than 20 billion euros

The agreement, which had put Volkswagen on Tuesday, the “order of the independent monitor for the next three years,” to monitor the implementation of the comparison of the agreed measures. “Today’s actions reflect the unwavering commitment to defend consumers and protect the environment and the financial system," said US Minister of justice, Loretta Lynch. “Responsible individuals and companies are drawn for the Offense of corporations accountable.” The investigations were not yet completed. Lower Saxony’s Prime Minister Stephan Weil and Minister of Economics, Olaf Lies, to the Supervisory Board both sit in the VW, welcomed the agreement.

according to insiders diesel gate will cost the group less than 20 billion euros. Volkswagen has so far laid 18.2 billion euros for diesel gate, of which 16.2 billion euros were recorded as early as 2015 in the balance sheet. The provisions would have to be increased after the U.S., by comparison, therefore, by around two billion euros. In addition to the civil and criminal law Compare with the U.S. government, Volkswagen also claims that investors faced. The loads thus are likely to be, according to the group, but significantly lower than the current cost, said an Insider.

In the stock market weighed in the agreement in the United States on Wednesday, more serious than the new allegations against the management of the group. VW shares rose by four percent and the strongest Dax value. For weeks investors to regain confidence: The stock has gained since the beginning of December, just under 30 percent. The Swiss recommends Bank UBS VW shares at the time of purchase. An agreement with the U.S. Department of justice, get rid of a high level of risk in the affair, wrote Analyst Patrick Hummel. The fines of the equivalent of EUR 4.1 billion were higher than previously expected, wrote Analyst Stefan Burgstaller of Goldman Sachs, they were nevertheless “a price driver for the stock”. An expensive solution from the point of view of investors is better than no solution.


No comments:

Post a Comment