Tag: 10M

VW pays nearly $10M to end German court case against CEO, chairman

FRANKFURT — Volkswagen Team has agreed to pay out nine million euros ($nine.nine million) in a deal with a German court docket to conclusion legal proceedings from its CEO and chairman, who ended up accused of keeping back sector-going details on rigged emissions tests.

The court docket in Brunswick in VW’s dwelling state of Decrease Saxony was hearing fees of inventory sector manipulation from CEO Herbert Diess, as effectively as non-govt Chairman Hans Dieter Poetsch.

VW in September 2015 admitted using unlawful software program to cheat U.S. diesel engine tests, battering its share rate. Prosecutors experienced accused Diess and Poetsch

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OPEC and oil nations agree to cut nearly 10M barrels per day

DUBAI, United Arab Emirates — OPEC, Russia and other oil-producing nations on Sunday finalized an unprecedented production cut of nearly 10 million barrels, or a tenth of global supply, in hopes of boosting crashing prices amid the coronavirus pandemic and a price war, officials said.

The cartel and other nations agreed to allow Mexico to cut only 100,000 barrels a month, a sticking point for an accord initially reached Friday after a marathon video conference between 23 nations. They reached the deal just hours before Asian markets reopen Monday as international benchmark Brent crude traded at just over $31 a

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