European Technology, Media and Telecoms Correspondent
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Nov 4, 2015

Germany ups pressure on VW as scandal takes on new dimension

FRANKFURT/BERLIN (Reuters) – German officials stepped up the pressure on Volkswagen (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) to clean up its act on Wednesday after it revealed it had understated the fuel consumption of some vehicles, opening a new front in the crisis at Europe’s biggest carmaker.

The company said late on Tuesday it had understated the level of carbon dioxide emissions in up to 800,000 cars sold in Europe, and consequently their fuel usage. This means affected vehicles are more expensive to drive than their buyers had been led to believe.

Nov 4, 2015

VW shares sink again as scandal takes on new dimension

FRANKFURT (Reuters) – Investors wiped another 3 billion euros off Volkswagen’s (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) market value on Wednesday after it said it had understated the fuel consumption of some cars, opening a new front in a scandal that initially centered on rigging emissions tests.

The carmaker said late on Tuesday it had understated the fuel usage of up to 800,000 cars in Europe, meaning those vehicles affected are more costly to drive than their buyers had been led to believe.

Nov 3, 2015

VW sees 800,000 more cars affected by ‘inconsistencies’

BERLIN/FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) said on Tuesday it found data “inconsistencies” on carbon dioxide emissions for 800,000 more cars, the latest sign of trouble for Europe’s biggest automaker, already reeling from an emissions scandal.

Volkswagen said it faces about 2 billion euros ($2.19 billion) in economic risks from the newly disclosed issue, which mostly affects small diesel engines and one gasoline one. They are unrelated to U.S. regulators’ allegations on Monday that larger diesel engines mostly used in Porsche and Audi sports utility vehicles were designed to cheat emissions tests.

Nov 3, 2015

Volkswagen sees 800,000 more cars affected by ‘inconsistencies’

BERLIN/FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE: Quote, Profile, Research) said on Tuesday it found data “inconsistencies” on carbon dioxide emissions for 800,000 more cars, the latest sign of trouble for Europe’s biggest automaker, already reeling from an emissions scandal.

Volkswagen said it faces about 2 billion euros (£1.42 billion) in economic risks from the newly disclosed issue, which mostly affects small diesel engines and one gasoline one. They are unrelated to U.S. regulators’ allegations on Monday that larger diesel engines mostly used in Porsche and Audi sports utility vehicles were designed to cheat emissions tests.

Nov 3, 2015

BMW surprises with profit rise as Europe recovers

BERLIN/FRANKFURT (Reuters) – BMW (BMWG.DE: Quote, Profile, Research, Stock Buzz) reported a surprise rise in third-quarter operating income as strong sales in higher-margin core European markets outweighed weak demand in China, keeping profitability within its target range despite high investment in new models.

The company’s automotive operating profit margin slipped to 9.1 percent from 9.4 percent a year earlier, behind rival Mercedes-Benz’s (DAIGn.DE: Quote, Profile, Research, Stock Buzz) 10.5 percent but beating Audi’s (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) 8.0 percent in the quarter.

Nov 3, 2015

VW’s new CEO under pressure as emissions scandal hits Porsche

BERLIN/FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) was facing fresh questions on Tuesday after U.S. regulators widened their accusations of emissions- test cheating against the German carmaker to include the luxury Porsche brand previously run by its new CEO.

The U.S. Environmental Protection Authority (EPA) said late on Monday VW used devices to rig air-pollution tests in 3.0-litre diesel engines mostly found in Audis and Porsches — the company’s biggest sources of profit.

Oct 29, 2015

U.S. sees new EU data-sharing pact within reach

FRANKFURT (Reuters) – A new transatlantic data-sharing agreement is within reach after the “Safe Harbour” deal used by thousands of companies to comply with EU privacy law was struck down by the highest EU court this month, U.S. Secretary of Commerce Penny Pritzker said.

The so-called “Safe Harbour 2.0″ agreement currently being negotiated would meet European concerns about the transfer of data to the United States, Pritzker told journalists in Frankfurt on Thursday during a visit to Germany.

Oct 28, 2015

Bosch unit to sue Dyson over allegations of cheating vacuum cleaner tests

By Georgina Prodhan

(Reuters) – Robert Bosch’s household appliances
business BSH is suing British bagless vacuum cleaner pioneer
Dyson Ltd over accusations that the German business manipulated
energy efficiency tests, it said on Wednesday.

The British company’s inventor-founder James Dyson had said
that cleaners made by Bosch and Siemens drew more
power in actual use in the home than they did in laboratory
tests, likening the matter to the Volkswagen
diesel-emissions scandal in the United States.

Oct 28, 2015

EU’s Oettinger sees more European telecoms tie-ups

FRANKFURT, Oct 28 (Reuters) – Mergers among European
telecoms operators are likely to continue as regulators will
increasingly assess markets in a global or regional rather than
a national context, the European Union’s digital economy
commissioner said on Wednesday.

“I believe the consolidation process will continue – we have
rather too many than too few companies in Europe,” Guenther
Oettinger, EU Commissioner for Digital Economy and Society, told
Reuters on the sidelines of a conference in Frankfurt.

Oct 25, 2015

Scarcity of affordable housing drives German deal frenzy

FRANKFURT, Oct 23 (Reuters) – Frantic deal-making in the
German property market has spotlighted the scarcity of housing
in the country and thrown into sharp relief the influx of up to
one million refugees fleeing war and poverty.

Property consolidation reached new heights last week when
the country’s largest listed residential property owner forced
its closest rival to drop a takeover plan in favour of its own,
14 billion euro ($16 billion) hostile bid.

    • About Georgina

      "Currently based in London, with particular responsibility for professional publishers and the European activities of global technology, media and telecoms firms. Previously European technology correspondent based in Frankfurt. Began career in local radio in Glasgow and then worked in TV news for many years for Reuters, the BBC and Sky News in London and Moscow."
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