|Bid||149.60 x 22300|
|Ask||149.70 x 61000|
|Day's Range||148.50 - 152.80|
|52 Week Range||129.60 - 177.00|
|Beta (3Y Monthly)||0.89|
|PE Ratio (TTM)||6.35|
|Forward Dividend & Yield||4.80 (3.24%)|
|1y Target Est||195.40|
The SEC charged former Volkswagen CEO Martin Winterkorn and the company of defrauding U.S. investors. Yahoo Finance's Rick Newman reports to Adam Shapiro and Julie Hyman. Manulife Managing Director & Chief Economist Megan Greene and YF's Brian Cheung also join the panel to discuss.
The U.S. SEC is suing Volkswagen over the emissions cheating scandal, saying the German automaker should have been more open with investors about the scale of the scandal. Julian Satterthwaite reports.
FBN’s Susan Li on the SEC charging Volkswagen with defrauding US bond investors during the company’s emissions scandal.
VW rose the most in almost three weeks Tuesday after the family holding company, Porsche Automobil Holding SE, said the German carmaker’s market value doesn’t reflect its “vast potential.” The family investment vehicle now owns 53.1 percent of VW, an increase of 0.9 percentage points. VW, alongside other carmakers, is under pressure to pay for the seismic shift to electric cars while the payoff could be years away. Record spending to keep up with emissions regulation and investor doubts about the future of incumbent automakers has hurt valuations for VW, which now trades at 5.45 times earnings.
Porsche SE, the holding company controlling Germany's Volkswagen, on Tuesday said it raised its voting rights share in the carmaker to 53.1 percent from 52.2 percent. "We continue to believe that Volkswagen group has a significant potential to increase its value and that its current capital market valuation does not reflect this," Porsche SE's CEO Hans Dieter Poetsch, who is also the chairman of VW's supervisory board, said.
Volkswagen on Monday said it had expressed its intent to Germany's Economy Ministry to participate in a state funding scheme aimed at supporting battery cell production for electric vehicles. "Volkswagen group wants to take part in Economy Minister Altmaier's initiative support the industrial production of mobile and static batteries," the company said in a statement. More than 30 companies have applied for the program to support the production of battery cells, the Economy Ministry said on Monday.
Volkswagen is one of several automakers to choose Microsoft Azure for cloud computing. In the cloud wars, Microsoft has been able to win big business from retailers, largely because companies like Walmart WMT , Kroger KR , Gap GPS and Target TGT are opting not to write big checks to rival Amazon. The more Amazon grows, the more that calculation could start working its way into other industries — like automotive.
Microsoft CEO Satya Nadella has vowed to not compete with partners, which was a selling point for Volkswagen when choosing a cloud vendor.
BERLIN—The U.S. Securities and Exchange Commission sued Volkswagen AG and Martin Winterkorn for defrauding U.S. investors in relation to the company’s diesel cheating scandal, claiming the auto maker’s former chief executive knew about the fraud much earlier than previously acknowledged. The fresh civil claims and the allegation that Mr. Winterkorn was aware of the fraud as early as 2007 deal a blow to Volkswagen’s effort to put the scandal behind it and rebuild its reputation in the U.S. The SEC’s move could also expose the company to new fines in the U.S. and bolster the case of thousands of investors who are suing Volkswagen for damages in Germany.
AG dealt a blow to the efforts of its finance chief in his yearslong quest to engage with investors to rebuild trust in the company. The lawsuit is the latest in a series of civil and criminal matters brought by U.S. authorities against Volkswagen in recent years in connection to the emissions scandal. , in an email on Friday, said he is in regular contact with investors and that the company’s recent debt sales show Volkswagen has progressed in regaining “the trust of capital markets.” He added that the company’s recent bond sales have been oversubscribed.
Customers won't find gold coins in any of the cars at Toms River Volkswagen in Toms River, New Jersey, this weekend, but if their luck pays off, they might have the chance at a different type of treasure: a pre-owned car for only $1. Spotlighted by ABC 13, the dealership is running a special promotion Saturday, March 16, that will give three people the deal of their lives. According to Business Development Manager Megan Loder, the dealership expects people to start lining up around 6 a.m. on Saturday.
Volkswagen's supervisory board on Friday condemned remarks made by the company's chief executive after he appeared to allude to a Nazi-era slogan when he attempted to describe the carmaker's earnings potential. Herbert Diess this week said "EBIT macht Frei" before apologising for the comments and explaining he in no way wanted to draw a comparison to the Nazi-era slogan "Arbeit Macht Frei", which appeared on the gates of Auschwitz during the Holocaust. "Experience at Volkswagen shows that brands with higher margins normally have greater freedom of choice within the Group.
Volkswagen's supervisory board on Friday condemned remarks made by the company's chief executive after he appeared to allude to a Nazi-era slogan when he attempted to describe the carmaker's earnings potential. Herbert Diess this week said "EBIT macht Frei" before apologizing for the comments and explaining he in no way wanted to draw a comparison to the Nazi-era slogan "Arbeit Macht Frei", which appeared on the gates of Auschwitz during the Holocaust. "Experience at Volkswagen shows that brands with higher margins normally have greater freedom of choice within the Group.
The US Securities and Exchange Commission (SEC) announced that it is chargingVolkswagen and its former CEO Martin Winterkorn for defrauding US investorsduring the company's "Dieselgate" scandal
Volkswagen and its former chief executive Martin Winterkorn have been charged by the US with defrauding investors during the diesel emissions scandal uncovered four years ago. The Securities and Exchange Commission (SEC) alleged the German carmarker issued $13bn in bonds and securities in US markets – despite knowing that more than half a million of their vehicles were well over legal limits for emissions. The company is also accused of making false and misleading statements about vehicle quality, environmental compliance and its financial status.
WASHINGTON/FRANKFURT (Reuters) - The U.S. Securities and Exchange Commission (SEC) is suing Volkswagen (VW) and its former chief executive Martin Winterkorn over the German automaker's diesel emissions scandal, alleging a "massive fraud" on U.S. investors. VW was caught using illegal software to cheat U.S. pollution tests in 2015, triggering a global backlash against diesel that and has so far cost it 29 billion euros (£24.78 billion). Regulators and investors argue VW should have informed them sooner about the scope of the scandal, while VW says it was not clear it would face billions of dollars in fines and penalties as others had paid out much lower sums for similar offences.
The German automaker sold billions of dollars of corporate bonds and asset-backed securities in the U.S. from 2010 to 2015 while concealing its emissions-cheating scheme, according to the complaint filed by the regulator late Thursday in San Francisco federal court. The case, also filed against ex-CEO Martin Winterkorn, could give fresh impetus to similar efforts for redress from European investors. “The investors did not know that VW was lying to consumers to fool them into buying its ‘clean diesel’ cars and lying to government authorities in order to sell cars in the U.S. that did not comply with U.S. emission standards,” the SEC alleged.
Codenamed Project 1 because it launches the Italian coachbuilder's Legends Reborn series, the Panther prowls as a modern interpretation of yesteryear's De Tomaso Pantera. Based on an all-wheel drive Lamborghini Huracán, the Panther does well to mimic the fat-back wedge of the original, and restores pop-up headlights to the 21st century performance cars. The specs go some way beyond De Tomaso's effort.
The U.S. Securities and Exchange Commission is suing the German automaker giant, and its then chief executive Martin Winterkorn, for failing to tell bond investors between 2010 and 2015 that it was violating emissions standards. The photographs of Winterkorn in the complaint (see page 15) with a tape measure and looking under a car at a motor show add a touch of the surreal. It would have been interesting reading the honest bond prospectuses that the SEC says VW should have published when it sold more than $8 billion of standard corporate bonds and $5 billion of asset-backed securities (backed by auto-finance loans) in 2014 and 2015.