settlement

U.S. judge approves VW dealers $1.2 billion settlement

Volkswagen AG's dealers will receive an average of $1.85 million in a $1.2 billion settlement approved by a U.S. judge on Monday over its diesel emissions scandal. U.S. District Judge Charles Breyer said the 650 U.S. dealers would be paid over 18 months, ruling the settlement “fair, reasonable, and adequate.” VW also agreed to keep making volume-based incentive payments to dealers, and will allow them to defer capital improvements for two years. In total, VW has now…

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U.S. judge approves VW dealers $1.2 billion settlement

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U.S. regulator has opened Audi investigation: Bild am Sonntag

A U.S. government regulator has started investigating Volkswagen's Audi brand over a reported discovery of a new cheat software device at the luxury carmaker, Bild am Sonntag reported, without citing the source of the information. The German weekly paper …

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U.S. regulator has opened Audi investigation: Bild am Sonntag

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Trump may already have a plan ready to revamp Dodd-Frank

When Jeb Hensarling, the Republican chair of the U.S. House Financial Services Committee, released legislation this summer to weaken the major financial law known as Dodd-Frank, many said it was a prêt-a-porter plan that his party’s nominee, Donald Trump, could easily adopt. Now that Trump is president-elect, he appears to be doing just that. Language about financial services posted on the Trump transition website, www.greatagain.gov, echoes the tone of Hensarling's bill, known

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Trump may already have a plan ready to revamp Dodd-Frank

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Toyota to settle U.S. truck rust lawsuit for up to $3.4 billion

(Reuters) – Toyota Motor Corp has agreed to a settlement of up to $3.4 billion for a federal class action brought by U.S. owners of pickup trucks and SUVs whose frames could rust through, plaintiffs lawyers have said in court papers. The proposed settlement covers about 1.5 million Tacoma compact pickups, Tundra full-size pickups and Sequoia SUVs alleged to have received inadequate rust protection that…

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Toyota to settle U.S. truck rust lawsuit for up to $3.4 billion

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Federal prosecutors investigate Wells Fargo’s sales practices: WSJ

The company has been hit hard by allegations that its staff opened more than 2 million bank accounts and credit cards for customers without their consent to meet internal sales goals. Chief Executive John Stumpf apologized on Tuesday and said the management takes responsibility for the problems identified in the settlement. Although the bank eliminated sales goals for retail staff, Stumpf said “cross-selling” products from various businesses to customers is still important to growing its business.

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Federal prosecutors investigate Wells Fargo’s sales practices: WSJ

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Viacom says CEO Dauman to resign post immediately; Dooley steps in

By Jessica Toonkel NEW YORK (Reuters) – Viacom Inc said on Saturday that Chief Executive Philippe Dauman will resign immediately, marking a victory for the family of controlling shareholder Sumner Redstone in the battle for the $40 billion media empire. The settlement with Dauman also ends the legal fight between members of the Viacom board and Redstone's National Amusements Inc, the privately held company that holds 80 …

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Viacom says CEO Dauman to resign post immediately; Dooley steps in

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Boeing aims for supersonics and Mars at outset of second century

By Alwyn Scott SEATTLE (Reuters) – The Boeing Co marked its centennial on Friday with plans to sharpen its focus on innovation, including ambitious projects for supersonic commercial flight and a rocket that could carry humans to other planets. The enterprise established by William Boeing in a Seattle boathouse has faced numerous “bet the company” moments over its 10 decades to bring out new planes such as the 707 and 747. “We have won for 100 years because of innovation,” Muilenburg said.

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Boeing aims for supersonics and Mars at outset of second century

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Herbalife settles pyramid scheme case with regulator, in blow to Pershing’s Ackman

By Diane Bartz and Michael Flaherty WASHINGTON/NEW YORK (Reuters) – Herbalife Ltd agreed to pay $200 million and change the way it does business to avoid being labeled a pyramid scheme by regulators, a blow to hedge fund manager Bill Ackman who for years has been betting against the dietary supplements maker. Shares of Herbalife jumped more than 20 percent after the settlement was made public and the Los Angeles-based company said its board had cleared the way for billionaire investor Carl Icahn to boost his …

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Herbalife settles pyramid scheme case with regulator, in blow to Pershing’s Ackman

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BMW hit with $40 million U.S. penalty for safety lapses

U.S. auto safety regulators on Monday fined BMW $10 million, part of a $40 million civil settlement over the German automaker's safety lapses. The fine is the second paid by BMW since 2012 and the latest in a series of civil penalties imposed on major automakers by the National Highway Traffic Safety Administration (NHTSA). Under the settlement, BMW admitted it did not comply with minimum crash protection standards…

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BMW hit with $40 million U.S. penalty for safety lapses

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BMW hit with $40 million U.S. penalty for safety lapses

U.S. auto safety regulators on Monday fined BMW $10 million, part of a $40 million civil settlement over the German automaker's safety lapses. The fine is the second paid by BMW since 2012 and…

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BMW hit with $40 million U.S. penalty for safety lapses