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VW reports a record $6.2B loss in scandal

BERLIN-Authorities on both sides of the Atlantic want to know if Volkswagen AG was alone in cheating on emissions.

Daimler, which makes Mercedes-Benz cars, said on Friday that it was conducting an internal investigation of emissions software at the request of the Justice Department. French authorities raided Peugeot Citroen's offices.

Embattled German automaker Volkswagen has reached a settlement agreement with USA regulators the carmaker's diesel emissions cheating scandal that will earn customers cash and a free fix for their faulty vehicles, unidentified sources have told Reuters.

General Motors admitted criminal wrongdoing in 2015 and paid more than $2 billion to settle US charges and compensate accident victims, shareholders and others claiming injuries.

Yesterday, U.S. District Court Judge Charles Breyer announced a settlement for owners of 482,000 VW models with two-liter diesel engines dating back to 2009.

Volkswagen CEO Matthias Mueller at a Friday news confer-ence.

Newspaper reports suggest VW may set aside more than 16 billion euros ($18 billion) in provisions to cover possible regulatory fines, lawsuits and the cost of recalling or replacing the suspect engines.

Popular "Plunder" Mode Returns For Uncharted 4
Plunder will be playable on all the maps from the beta and multiplayer stress test-Island, Madagascar City and Rooftops. They say you can't teach an old dog new tricks, but it seems like new tricks is all Naughty Dog wants to do!

US to propose Obama visit Hiroshima in late May -Nikkei
Japanese Chief Cabinet Secretary Yoshihide Suga denied the visit was being arranged and declined further comment. A second strike three days later killed 70,000 people in the city of Nagasaki, causing Japan to surrender.

Syria opposition figure says Assad has 'buried' cease-fire
Any group that thinks otherwise is "living an illusion" and is "wasting their time and ours", the Syrian diplomat went on to say. Borodavkin said the talks will continue without the groups that pulled out, implying that Saudi Arabia was backing extremists.

The Wolfsburg-based auto maker generated a net loss of 5.5bn for 2015 but maintained its business operations were in "great shape", as proved by a profit before special items that was slightly higher the prior year at 12.8bn.

Volkswagen also said it's not in a position to release results of an internal probe into the scandal this month as expected.

The investigation, which is being conducted by lawfirm Jones Day, is at an advanced stage and is due to be completed in the fourth quarter, the company said in a statement.

On advice of the company's attorneys, management and directors, the company said "a disclosure of interim results of the investigation at this point in time would present unacceptable risks for Volkswagen and, therefore, can not take place now".

The rapid succession of bad news that washed over the carmakers this week - from the Daimler revelations to a search of France's Peugeot by government fraud investigators to Mitsubishi Motors Corp.in Japan admitting it manipulated fuel-economy tests - highlights the stakes in an industry struggling to re-invent itself around more fuel-efficient, ecologically sound cars while keeping costs under control.

The potential for Daimler's Mercedes unit to become embroiled in a scandal of the same scope as Volkswagen is probably limited because it sells relatively few diesel vehicles in the United States, analysts said. Karl Brauer, senior analyst for Kelley Blue Book, said governments, as well as Mercedes, VW and other automakers, have known for years that diesels could meet emissions standards in the lab, but not on real roads.

While such technology is legal, investigators found that the temperatures at which the emissions treatment systems were throttled didn't appear to be justified in all cases, so the five manufacturers agreed to voluntarily recall those vehicles.

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