Wednesday, October 7, 2015

Volkswagen CEO Says Recall To Start In January, Be Completed End-2016

BERLIN (Reuters) — Volkswagen (VOWG_p.DE) Chief Executive Matthias Mueller said in an interview with a German newspaper that the company would launch a recall for cars affected by its diesel emissions crisis in January and complete the fix by the end of next year.

“If all goes according to plan, we can start the recall in January. All the cars should be fixed by the end of 2016,” Mueller told the Frankfurter Allgemeine Zeitung (FAZ). The newspaper provided a copy of the interview prior to publication on Wednesday.

Mueller told the FAZ that he believed only a few employees were involved in the diesel emissions rigging that has hammered the company’s stock and done severe damage to its reputation, refuting the notion that his detail-oriented predecessor Martin Winterkorn must have known about it.…

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Obamacare Not Spurring More Early Retirements Yet Despite Predictions

By Mark Miller

CHICAGO (Reuters) – The Affordable Care Act is doing plenty of good for older Americans, but one thing it is not doing is convincing them to retire early.

One prediction of the impact of the healthcare law, commonly known as Obamacare, was that the ACA would end “job lock” – the phenomenon of workers hanging onto jobs just for the health insurance while waiting to become eligible for Medicare at age 65.

Instead, the ACA’s guaranteed issue of insurance would let them leave the world of full-time work for more flexible self-employment, start businesses or launch encore careers – or just retire.…

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U.S. Job Growth Stumbles, Raising Doubts On Economy

By Jason Lange

WASHINGTON (Reuters) — U.S. employers slammed the brakes on hiring over the last two months, raising new doubts the economy is strong enough for the Federal Reserve to raise interest rates by the end of this year.

Payrolls outside of farming rose by 142,000 last month and August figures were revised sharply lower to show only 136,000 jobs added that month, the Labor Department said on Friday.

That marked the smallest two-month gain in employment in over a year and could fuel fears that the China-led global economic slowdown is sapping America’s strength.

“You can’t throw lipstick on this pig of a report,” said Brian Jacobsen, a portfolio strategist at Wells Fargo Funds Management in Menomonee Falls, Wisconsin.…

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