Volkswagen recall: Deutsche Bank cuts Dax forecast as emissions scandal hits German share prices September 23, 2015 The fallout from Volkswagen's emissions scandal could hurt the wider German market for the next 18 months, Deutsche Bank has warned. The German lender this morning cut its forecast for the Dax for both 2015 and 2016. It now expects the blue chip index to end this year at 10,300 points – 1,000 points lower [...]
Volkswagen boss Martin Winterkorn could be replaced by Porsche chief Matthias Muller by Friday as emissions-cheating scandal escalates September 23, 2015 Volkswagen boss Martin Winterkorn is under growing pressure in the job as the car giant suffered a second day of billion-dollar losses to its share price following the emissions cheating scandal. Berlin newspaper Der Taggespiegel is reporting that VW's supervisory board will meet tomorrow, ahead of a conference scheduled for Friday when it is [...]
US power sector hits back at Barack Obama’s tough climate change rules August 3, 2015 President Barack Obama is set to present the US’ most ambitious climate change plans to date, but they come fiercely opposed by both his political rivals and the energy sector. The Obama administration will reveal state-specific details of the initiative, called the clean power plan, on Monday, but overall it will impose reductions of carbon [...]
War of the wearables: Jawbone sues Fitbit ahead of IPO May 28, 2015 The war of the wearables has just been taken up a notch after two of the leading companies pioneering the technology have become involved in a legal dispute. Jawbone, the maker of the UP fitness tracker band, has filed a lawsuit in a California court alleging rival Fitbit, which also makes health tracking devices, stole [...]
US PGA Championship 2015: Caddies for Rory McIlroy and Jordan Spieth could earn up to $180,000 in prize money August 14, 2015 Over $1.8m (£1.2m) is on offer to the winner of the US PGA Championship this weekend, yet there will be at least one man present on the greens of Whistling Straits who could earn a six figure sum without having to tee off once. Read more: What prize money is on offer at the PGA Championship? [...]
Uber safety: “Lax” background checks slammed as convicted criminals allowed to become drivers August 20, 2015 Background checks by taxi-hailing app Uber have come under fire, after California prosecutors slammed it for security routines so lax that convicted sex offenders and even murderers were allegedly allowed to become drivers. California prosecutors are widening a civil lawsuit they originally brought against Uber in December last year, alleging that the company misleads customers [...]
Fallen hopes: Brazil was a shining star among emerging economies – but Dilma Rousseff and the Petrobras scandal leave it in crisis November 19, 2015 Once the leading light of Latin America, 2015 has seen Brazil gripped by a corruption scandal of epic proportions, while its economy has slid into the worst crisis for a generation. In the midst of a economic quagmire that has drawn the once-thriving Brazilian powerhouse into a deep recession, the country’s politicians are firefighting on another [...]
Apple’s missing iMessage headache continues as tech giant forced to face class action lawsuit November 11, 2014 Apple has been forced to face a US federal lawsuit which claims the tech company failed to inform its customers that their messages could be blocked if they switched to Android phones. A class action lawsuit was brought against the tech giant in May by Californian Adrienne Moore, who alleged that Apple had interfered [...]
American Apparel warns it may need more funds as costs are cut July 6, 2015 American Apparel, the troubled clothing chain embroiled in a legal battle with its founder and former chief executive Dov Charney, announced plans yesterday to slash around $30m (£19m) of costs in a bid to reverse sharp losses and turn itself around. The company said it will close underperforming stores and would cut jobs in order [...]
Volkswagen chief executive Martin Winterkorn statement: Car boss asks for “trust in our journey” – but there is no mention of resignation yet September 23, 2015 Embattled Volkswagen chief executive Martin Winterkorn has said he would do anything for trust… but he won't do that. In a video statement issued this afternoon, Winterkorn said the car giant would do "everything necessary to reverse the damage. And we will do everything necessary to win back trust – step by step". It [...]