VW Deal Approved Matching Largest Auto Scandal Settlement
U S District Judge Charles Breyer signed the 15 billion VW settlement allowing about 475000 Volkswagen and Audi owners to choose buyback or repair options, with payments of 5100 to 10000 per vehicle and up to 10 billion to compensate consumers plus environmental and zero emission initiatives. The deal covers 2014 2015 models with 2 liter diesel engines used to cheat emissions tests and may start buybacks soon while regulators await repairs approval.
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GM posts $2.8 billion Q3 profit but shares fall
General Motors reports a $2.8 billion third quarter profit or $1.72 per share, topping expectations and marking its best Q3 since bankruptcy exit. Yet shares drop 4.2 percent as investors doubt North American sales can rebound.
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Fiat Chrysler Raises 2016 Earnings Forecast Amid North America Gain
Fiat Chrysler Automobiles lifts its 2016 earnings outlook for a second time after reporting an adjusted net profit of 606 million euros in the third quarter. Revenue held at 26.8 billion euros as North America drove a return to profit.
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Apple’s turnaround hopes ride on iPhone rebound and new Macs
Apple forecasts a return to iPhone sales growth this winter after a three quarter slump and plans to unveil new Mac computers this week. Analysts note iPhone demand remains dominant yet assessment cites slowing overall growth as customers hold onto devices longer.
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