Volkswagen’s American finance division has agreed to pay $48.75 million to settle a lawsuit by the Securities and Exchange Commission (SEC) over alleged fraud related to diesel emissions. The lawsuit accused Volkswagen AG and its former CEO of deceiving investors in U.S. bond offerings. Although the SEC is dropping claims against Volkswagen AG and its former CEO, the settlement with Volkswagen Group of America Finance concludes significant legal action stemming from the diesel emissions scandal in the United States. This scandal cost Volkswagen over $20 billion in fines and settlements after it was revealed that the company had installed “defeat devices” and sophisticated software to cheat emissions tests.
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The CFO of Adobe is leaving for Marvell. Additionally, it's another reason why investors prefer chips to software. -
Following Pakistan's announcement that a peace agreement between the United States and Iran had been struck, global oil prices end at a three-month low. -
Why value stocks are outperforming growth by such a large margin: "This is not a flash in the pan"
