Volkswagen Chief Executive resigns amid emissions scandal
Volkswagen chief executive Martin Winterkorn resigns after an emissions cheating probe reveals years of deceit. Analysts say the move is a swift bid to stem investor losses as regulators inquiry broadens across continents and the brand faces billions in fines and recalls.
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Volkswagen admits emissions test cheating amid brand trust crisis
Volkswagen reveals it rigged diesel emissions tests triggering outrage among customers and dealers. The firm apologizes and CEO resigns while seeking to explain how cheating occurred and what safeguards prevent repeats. Industry experts warn the brand’s eco image and advertising campaigns, including Think Blue and Clean Diesel, may suffer long term as trust erodes.
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Xi Jinping vows reform to ease foreign investment barriers
Chinese President Xi Jinping told a closed forum of about 30 executives including Jeff Bezos Warren Buffett Tim Cook and Satya Nadella that China will continue reforming and opening up to remove barriers and strengthen intellectual property protections The meeting followed by remarks stressing long term economic fundamentals and a hoped for broader bilateral investment treaty with the United States to ease market access and protect foreign investors
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Sanctions debated before Xi visit with risk to trade
The Obama administration weighs possible sanctions on China over cyberattacks while avoiding retaliation that could harm U.S. firms. President Obama signals sanctions as an option, but officials say none will occur before Xi Jinping’s Friday visit with actions possible after talks if no progress. The move contrasts with Russia and risks spillover to Pacific states like California and Washington.
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