Author: Vitaliy Dadalyan

Former Audi chief on trial in VW diesel emissions scandal

The former head of Volkswagen's Audi luxury car division and three others went on trial Wednesday on charges related to the company's cheating on diesel car emissions tests. The proceedings represent the first criminal trial in Germany over the scandal that erupted five years ago and has cost the Volkswagen Group more than 32 billion euros ($35 billion) in fines and settlements. Rupert Stadler and the three co-defendants are charged with fraud, false certification and criminal false advertising before a court in Munich in a trial that is scheduled to include 176 sessions lasting until Dec. 20, 2022....

U.S. Stock Futures Sink After Election Debate: Markets Wrap

(Bloomberg) -- U.S. equity-index futures dropped alongside most stock markets after an acrimonious American presidential debate highlighted the risk of a contested vote in November. A gauge of the dollar edged higher.S&P 500 futures fell as much as 1.3% in the hours after the chaotic sparring between Donald Trump and Democratic hopeful Joe Biden during which the president suggested vote-by-mail could be rife with fraud. In Europe, declines in industrial-goods and tech shares outweighed gains in utilities.“What we’ve seen from the debate is the reinforcement that if Biden wins, Trump is not going to accept that,” said Chris Weston, head of research at Pepperstone Group Ltd. in Melbourne. “People positioned for an ugly contest afterwards have been validated.”Investment firms were also recalibrating positions on the final day of this quarter. Walt Disney Co. shares fell in pre-market trading after it said 28,000 workers will be let go in its slumping U.S....