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VW's CEO was told about emissions software months before scandal: Der Spiegel
DE) Chief Executive Herbert Diess was told about the existence of cheating software in cars two months before regulators blew the whistle on a multi-billion exhaust emissions scandal, German magazine Der Spiegel said. Diess, who was VW's brand chief at the time, became chief executive of Volkswagen Group in April this year. Following this meeting, Winterkorn asked Diess whether BMW too had installed defeat devices in its cars, Der Spiegel said.
The Game Has Changed at Tesla
Tesla's investors, captivated by the electric car maker's future growth prospects, have ignored its rickety finances. Tesla is in trouble after a chaotic week. Whatever fine might come if Tesla was found to violate regulations would have minimal impact. The most important impact is Tesla may struggle to raise the cash it badly needs while the investigation is going on. Those who would will likely demand tough terms, which would come at the expense of current investors.
Retailer House of Fraser Locked Down in Logistics Standoff
The sale of a struggling British retailer has turned into a standoff at the warehouse door. XPO is in a long line of companies that say they are owed millions by the retailer. According to a document provided Friday by Ernst & Young, the accounting firm appointed administrator for House of Fraser, XPO is owed nearly $39 million.
Helping Banks Flag Fraud Against Seniors
In the last decade, Judith Shaw said, there has been a steady rise in financial fraud against older people in Maine. In early 2014, hundreds of employees at Maine's banks and other financial institutions began learning how to recognize unusual account activity that might indicate fraud or financial exploitation. As they see more fraud directed at older customers, banks are stepping up their warnings, monitoring and education efforts.
'Lit' Is Over, and Other Things You Can Pay Teens to Teach You
They could walk into a regular business setting with people in their 30s and 40s and be completely comfortable. Image Don't talk about teenagers, talk to teenagers, said Ziad Ahmed, 19, JV's CEO and a rising sophomore at Yale. There are a lot of things coming in and out of favor, he said. Image For example, 'Lit' isn't really cool anymore, said Mr Ahmed.
Elon Musk's No Good, Very Bad Year
Elon Musk is on the brink. In an emotional, hourlong interview with The New York Times, Mr Musk, the chief executive of Tesla and SpaceX, described what he called the most difficult year of his career. Over the last 16 months, he has gone from seemingly on top of the world to facing one of the most intense existential crises of his entrepreneurial career.
Vitamin D, the Sunshine Supplement, Has Shadowy Money Behind It
In an interview, Dr Holick acknowledged he has worked as a consultant to Quest Diagnostics, which performs vitamin D tests, since 1979. In The Vitamin D Solution, Dr Holick describes his promotion of vitamin D as a lonely crusade. Although the amount of vitamin D in a typical daily supplement is generally considered safe, it is possible to take too much.
China's Geely in deal to let Malaysia's Proton tap new-energy, other vehicle tech in global push
The person declined to be identified because he was not authorized to speak with reporters on details of the agreement. As part of the next stage of cooperation, Proton will soon begin a feasibility study to enter the Chinese market. The new agreement follows Geely's investment in Proton, sealed last year, which gave Geely a 49.9-percent stake in the Malaysia automaker owned by DRB-Hicom (DRBM.KL).
Late to the Driverless Revolution
Early in 2011, two top engineers for Google traveled together to Detroit on what amounted to a diplomatic mission. They had just spent 18 months on a top-secret project called Chauffeur: the development of a car that could drive itself over 10 different 100-mile routes on public roads. Now they were looking for a partner to carry the project forward.
Purdue Pharma Hires Davis Polk for Restructuring Help
OxyContin maker Purdue Pharma LP has hired restructuring lawyers at Davis Polk & Wardwell as it grapples with mounting litigation over its alleged role in fueling the opioid epidemic, people familiar with the matter said. The company, owned by the Sackler family, faces more than 1,000 lawsuits brought by cities, counties and states that claim the company, along with other drugmakers, misled the public about the addictive nature of their opioid painkillers. The lawsuits seek to recoup the cost of opioid addiction borne.
Investors Betting Against Tesla Made $1 Billion on Friday
__________ The investors betting against Tesla just got a gift from the company's chief executive, Elon Musk. The slide in Tesla's shares generated more than $1 billion in profits for short-sellers, according to S3 Partners, a financial technology and analytics firm, which tracks the positions held by those investors. More than a quarter of its stock valued at more than $11 billion is being shorted, according to S3 Partners.
How Aretha Franklin's 'Respect' Became a Battle Cry for Musicians Seeking Royalties
Advertisement Image By Ben Sisario Aug 17, 2018 It was Aretha Franklin's first No 1 hit, the cry of empowerment that has defined her for generations: Respect. Respect was written by Otis Redding, who sang it as a man's demand for recognition from his wife. In recent years, Respect has also become a battle song in a fight over digital rights. A 2014 bill to change that was named the Respect Act in honor of the song, which Ms Franklin recorded in 1967.
Trump's Plan for Coal Emissions: Let Coal States Regulate Them
That, combined with allowing states to set their own rules, creates a serious risk that emissions, which had been falling, could start to rise again, according to environmentalists. The move follows a separate decision this month to freeze Obama-era fuel efficiency standards that were also aimed at reducing greenhouse gas emissions. Together the transportation sector and the power sector account for more than half of the country's emissions, according to the agency.
Weekend at Elon's: A Tesla Subplot With Azealia Banks
On Thursday, in an interview with The New York Times, Mr Musk was asked if drugs were involved in his market-moving tweet. On the same day, Mr Musk told the website Gizmodo that he had never met Ms Banks or communicated with her in any way. Ms Banks had arrived in the predawn hours, invited to the house by Grimes, people familiar with the sequence of events say.
Walmart asks some beauty suppliers to consider sourcing outside of China
Walmart Inc (WMT.N) has asked some beauty suppliers to consider sourcing products from outside China, as it looks for ways to mitigate the impact of a new set of tariffs on Chinese products proposed by the Trump administration. In an email sent to some beauty suppliers on Aug 7, seen by Reuters, the retailer asks if they have facilities outside China, and if not, whether they would consider investing in them, to broaden their sourcing ability.
Booming Economy May Be Little Felt as Voters Decide
Republicans are telling you that tax cuts and roaring economic growth are going to stop any blue wave in the midterm elections. Democrats say the lack of wage growth, even as corporate profits surge, will impel voters to change leadership in Congress. A new survey of nearly 10,000 American adults shows that the strong economy is rallying Republicans and maybe swaying some independents.
Trade War Worries Iowa Republicans in a Close House Race
Advertisement Image By Natalie Kitroeff and Ben Casselman Aug 17, 2018 CEDAR FALLS, Iowa - The unemployment rate here is one of the lowest in the country. It's possible that it might look good right up until the midterms, said David Swenson, an economist at Iowa State University. Soybean producers in Iowa stand to lose $624 million from the trade war, according to Chad Hart, an economist at Iowa State University.
Canada on the Sidelines as U.S. and Mexico Near an Agreement on Nafta
On Friday, the United States and Mexico appeared close to agreeing on how to revise the 24-year-old Nafta deal. Canada, which has become one of Mr Trump's favorite foils in his fight over global trade, was not party to the talks. We're not negotiating with Canada right now, Mr Trump said at a cabinet meeting on Thursday. The United States and Mexico have expressed interest in signing a new Nafta deal by the end of August.
Thyssenkrupp's interim chairman says structure is not sacrosanct: Focus
Thyssenkrupp's (TKAG.DE) workers are prepared to do their part in the ongoing restructuring of the embattled conglomerate, its interim chairman and trade union secretary Markus Grolms told a German magazine. Thyssenkrupp's conglomerate structure has been heavily criticized by some shareholders who argue that a more focused set-up would unlock value, stoking fears among workers that the company could be broken up. For us no organizational structure is sacrosanct, Grolms told Focus magazine in an interview.
Moody's downgrades Turkey to Ba3, assigns negative outlook
Moody's cut Turkey's sovereign credit rating deeper into junk territory on Friday, citing a weakening of public institutions and the related reduction in the predictability of policy making in a country which is facing a currency crisis. Moody's lowered the rating to Ba3 from Ba2 and changed its rating outlook to negative in a move which came on the heels of a downgrade by S&P.

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