Tuesday, October 6, 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.…

Read More

Obama Makes Pitch To Win Support For Pacific Trade Pact

By Julia Edwards and Krista Hughes

WASHINGTON (Reuters) — U.S. President Barack Obama kicked off a sales pitch on Tuesday for a 12-nation Pacific Rim trade agreement that has sparked concern among some lawmakers and won a lukewarm initial response from business groups.

Although ultimate winners and losers from the Trans-Pacific Partnership (TPP) are still unclear, some Republicans are worried about its impact on industries including dairy, tobacco and pharmaceuticals, highlighting the battle ahead to win votes.

Still, Obama was upbeat about winning support in the Republican-controlled Congress for the pact, which will cut trade barriers and set common standards for 40 percent of the world economy.…

Read More

Fourteen Dead As South Carolina Gripped By Historic Flooding

By Colleen Jenkins

(Reuters) – South Carolina grappled with the damage wrought by record rainfall, as the death toll from widespread flooding rose to 14 on Tuesday and residents braced for more evacuations in areas near swollen waterways and dams across the state.

Predictions of sunny skies in coming days provided only small comfort. More than 800 people were living in shelters after floodwater forced them from their homes, and officials said new evacuations were likely as several rivers remained above flood stage and dams were being monitored for breaches.

“We are still in the mode that the next 36 to 48 hours will be volatile,” Governor Nikki Haley told a news conference.…

Read More

Menu Title