Latest Volkswagen AG News

A stock trader, left, adjusts his mask as he enters the New York Stock Exchange, Thursday, July 30, 2020.  Strong gains for Big Tech stocks are helping to prop up Wall Street in early Friday trading following blowout profit reports from some of the market’s most influential companies.  (AP Photo/Mark Lennihan)

Tech giants lead gains as S&P 500 closes 4th winning month

Jul. 31, 2020 5:22 PM EDT

NEW YORK (AP) — Big Tech continues to steamroll through the pandemic, and strong gains for some of the market’s most influential companies on Friday helped Wall Street close out its fourth straight winning month. The S&P 500 rose 24.90 points, or 0.8%, to 3,271.12 following blowout profit...

A man lifts his arm as he walks by the New York Stock Exchange, Thursday, July 30, 2020. Stocks are falling on Wall Street Thursday after reports showed that layoffs are continuing at a stubborn pace and that the U.S. economy contracted at a nearly 33% annual rate in the spring. (AP Photo/Mark Lennihan)

Asian benchmarks tumble, looking to earnings, central banks

Jul. 31, 2020 12:16 AM EDT

TOKYO (AP) — Asian shares tumbled Friday as reports showed layoffs of American workers are persisting at high levels after the U.S. economy contracted at a nearly 33% annual pace in the spring, the worst quarter on record. Earnings reports, a gauge of how well businesses are managing the fallout from the...

FILE - In this file photo dated Thursday, April 23, 2020, flags wave in front of a factory building during the production restart of the plant of the German manufacturer Volkswagen AG (VW) in Zwickau, Germany. 
Carmaker Volkswagen reports Thursday July 30, 2020, an after-tax loss of 1.54 billion euros (dollars 1.81 billion) in the second quarter as the pandemic shut down auto plants and closed dealerships. (AP Photo/Jens Meyer, FILE)

Volkswagen lost $1.8 billion in Q2 but sees profit for year

Jul. 30, 2020 5:27 AM EDT

FRANKFURT, Germany (AP) — Carmaker Volkswagen recorded an after-tax loss of 1.54 billion euros ($1.81 billion) in the second quarter as the pandemic shut down auto plants and closed dealerships. The company sold 35% fewer cars and cut back its proposed dividend but said it had been able to safeguard its...

Coronavirus cancels plan for new Volkswagen plant in Turkey

Jul. 1, 2020 9:44 AM EDT

BERLIN (AP) — German automaker Volkswagen said Wednesday it is halting plans for a new factory in Turkey, saying that the steep drop in demand for cars worldwide caused by the coronavirus pandemic means the manufacturing capacity is no longer needed. The 1.3 billion euro ($1.4 billion) plant in Manisa on...

FILE - In this Thursday, April 25, 2019 file photo, Markus Braun, CEO of financial services company wirecard, attends the earnings press conference in Munich, Germany. Prosecutors in Germany say that the former CEO of the payments company Wirecard has been arrested in an accounting scandal that centers on a missing sum of 1.9 billion euros, or 2.1 billion dollars. Markus Braun resigned on Friday after the company disclosed that auditors couldn't find accounts containing the money.(AP Photo/Matthias Schrader, file)

Wirecard goes bust as scandal puts focus on German oversight

Jun. 25, 2020 8:41 AM EDT

FRANKFURT, Germany (AP) — An accounting scandal at one of Germany’s fastest-growing blue-chip companies has raised doubts about the national financial watchdog and, coming on top of other high-profile cases of fraud, led to questions about the country’s ability to oversee its corporate...

FILE - In this Thursday, April 25, 2019 file photo, Markus Braun, CEO of financial services company wirecard, attends the earnings press conference in Munich, Germany. Prosecutors in Germany say that the former CEO of the payments company Wirecard has been arrested in an accounting scandal that centers on a missing sum of 1.9 billion euros, or 2.1 billion dollars. Markus Braun resigned on Friday after the company disclosed that auditors couldn't find accounts containing the money.(AP Photo/Matthias Schrader, file)

Wirecard scandal puts spotlight on German company regulation

Jun. 24, 2020 4:34 PM EDT

FRANKFURT, Germany (AP) — An accounting scandal at one of Germany’s fastest-growing blue-chip companies has raised doubts about the national financial watchdog and, coming on top of other high-profile cases of fraud, led to questions about the country’s ability to oversee its corporate...