and that didn't happen at volkswagen. so around the mid to thousands -- 2000s, there's one thing that he never managed to do during his tenure and that was to recapture volkswagens glory in the united states. and that bothered him around the mid-2000s, volkswagen decided it wanted to become the largest car company in the world. they couldn't do that without also being a force in the united states. and by then actually volkswagen had become religious and niche brand they were selling about as many cars as subaru and that long since been overshadowed by toyota et cetera looking for a way, some kind of unique selling point that would help get back the market share in the united states. and they hit on diesel. diesel had been very successful in europe. by then it accounte account forf all new cars were diesels. the biggest fans of diesel is fuel economy. that was a big selling point in europe where fuel is very expensive. so they thought let's try that in the united states, and we will sell diesel as an environmentally friend

volkswagen may be 800,000. the regulators were attached to their labs and testing facilities and they were reluctant to do road testing and still are. they still think they can use their lab to find that out but there are so many variables you can't control everything in the lab you can control the temperature and every card is the same cycle that appears to some engineers and scientists and there is a reluctance. thank you. >> i'm a journalist in dc. in my case it was like tens of people may be more than a hundred people and also many construction companies with 77 executives. ..

the volkswagen holding on top of it, and the porsche families that control volkswagen would merge their entity with volkswagen and invest in where they were originally worth >> there lies the tension as well you just came upon another issue where the families controlling volkswagen, porsche, got themselves in a bit of a pickle with some regulators sellers got themselves wrong on this one acouple of years ago as well. are those families willing to break up this enormous structure they created >> they have a current steak in the porsche holding company, and that's not liquid. i see only benefits, and the brands can continue to cooperate with each other, but you can really measure the management teams and give them stock in their own companies. >> we're looking for oem's that have a 21st century -- especially with great concerns about auto sales, especially in the united states. i saw some horrific figures yesterday. this company here is the technology company that some people say sell cars as well, and sometimes it even gets deliveries on track as well. >> it's hard to attend oem in the w

big manufacturers, volkswagen, daimler, they all have a footprint there. they see turkey as a place, a launchpad for the rest of the region. ultimately, if things were to go sour but you have to wonder about their operations. we are a long ways from that point in now, but one of the warming -- warnings that came from germany to businesses. nejra: bloomberg has written a great story outlining the many businesses that could be impacted but who is most at risk? chad thomas: most at risk is it the automobile industry because they have significant manufacturing footprints in the country. volkswagen, daimler and a lot of suppliers like robert bosch, the biggest auto parts supplier, the german company, they are the ones at risk because volkswagen, for example, they are one of their subsidiaries making the buses. there may manufacturing plant is in turkey. if there were to be a disruption of the service, that would eventually for them in terms of operation for delivering the buses they built. nejra: it all circles back to the automakers. in q2 chad thomas -- thank

we all learned a volkswagen the infamous emissions scandal nearly two years ago even in the time that's passed the scandal remains far from over as new allegations have surfaced yet again we've got more on this for us right now joining me in the studio what did volkswagen do this time well they are accused of cheating again on emissions tests which would not only expand the damage already done but would cost them a lot more money so it's something they certainly don't want to hear and something that the rest of the auto industry does not want to deal with right now in two thousand and sixteen volkswagen was the world's largest automaker a year later the company fell behind toyota to the number two spot and by two thousand and eighteen we could see v.w. fall again on monday authorities in germany announced they're investigating porsche which v.w. owns and another one of its u.s. based subsidiaries in a statement prosecutors said they were looking into potential fraud and false advertising charges related to emissions without giving much more detail this comes a week after the arrest of g

for volkswagen however this whole scandal is becoming a big problem for the auto industry in general because they're already competing with. the world car sharing and driving cars but they also are competing with silicon valley in other ways i mean for the whole auto industry to be. not adapting to these new regulations right makes them seem old against these silicon valley companies that are new and fresh and good for the environment and adapting to modern technology and right now. so it could be a bigger problem for them in that concept as well and these corporations keep some money in the piggy bank to deal with fines like this but who knows if they got enough yeah thank you so much for. we're going to go to a break now but stick around when we get back we've got paris talking about u.s. companies start to start paying their fair share of business tax in the european union and of course my guest former u.s. attorney mr park health and break down q twenty four as we go to break check out the numbers the closing bell. the wealthy areas of the italy going bust and we should save them

the behaviour of volkswagen has been disgraceful. firstly, they cheated, and secondly the lack of compression and humility from the manager of volkswagen. they should be compensating londoners for the money they have lost by the congestion charge. 80,000 londoners bought vehicles fitted with the cheap devices but vw claims that even without them the cars would still be exempt from the congestion charge. in a statement, vw told us... imean, i mean, that just i mean, thatjust goes to show that volkswagen are not taking this seriously, and you know, i think people should be... you know, really look at what volkswagen are doing here. you know, their sense of corporate social responsibility is neil. you know, it is extraordinary. -- nil. with 9000 deaths in the capital linked each year to pollution, the battle for the mayor is farfrom pollution, the battle for the mayor is far from over. pollution, the battle for the mayor is farfrom over. he is calling for the government to hold volkswagen to account and secure proper compensation. now i

volkswagen said the epa and other regulators will let volkswagen fix or buy back some of the cars in the scandal. under the plan, bolts wagon owners can either have the emissions system fixed for free or volkswagen can buy the car back. the company is expected to pay $1.3 billion in fines for the scandal. >>> today is a big day for tesla. the ceo, elon musk, is due to hand over the keys to the first 30 model 3 owners at the company factory in fremont. tesla has pinned its future on the long-awaited model 3. at $35,000, it's the first car that tesla plans to mass- produce. the goal is to deliver 1 million model 3's over the next three years. earlier yesterday, a tech reporter from the wall street journal told us who those first 30 owners will be. >> he has not identified them yet but he has previously said the first customers will be tesla employees who put their orders in. he wants to test those early editions of the model 3 with people that work for him so they can work out those final bugs. >> elon musk is expected to outline his grand vision for the future of tesla. >>> a new app

i think of them as three, if you break out porsche and audi from volkswagen, their own by volkswagen, they are five major german carmakers that are being talked about in this collusion scandal. under investigation by the german cartel office. they have parted and hit by that hard on friday and yesterday, in trading. under investigation by the eu. we found out a commission is looking into it on saturday and now we are hearing the u.s. is reviewing these allegations as well. possibly the investigation has been thought about by the department of justice. that can provide more pressure on carmaker stocks at the open. manus: we will get straight across to nejra cehic, just one balance. the european commission and germany's cartel office said on saturday the have received information about a possible collusion and are studying the matter. just looking at the dax, immediate response in the tax on the carmakers. vw unchanged, dialer up .8% in bmw -- daimler up .8%. merrick, taken away. 2.25% steady. slightlyets moving higher up about one basis point, 1.19% is where we are on the 10-year gilt

german carmakers, especially volkswagen, i tried to push forth the diesel vehicles in the u.s. for quite some time, and with all the scandal that's coming out, it is a major blow to diesel vehicles but not necessarily for german car manufacturers overall. brent: big blow to diesel carmakers and diesel motors. however, daniel, daimler once to move forward with diesel technologies? >> they want to invest 3 billion euros into developing clean diesel technology. the reason for this is not that they think diesel is the future, but they've invested so much so far in all kinds of diesel technology and they don't want to from one moment to the next just throw that out the winindo. they also see there are other possibilities for propulsion in the future. we've seen other companies heading in that direction, but like i said, they are thinking there is still a chance with diesel and they will be better on that. brent: is that the right that? we know other manufacturers like volvo have said they want to focus on electric cars only. reporter: yeah, just look at tesla, for example. their new

when the scandal first broke in 2015 it was only volkswagen that was involved, it seems on a monthly basis if not weekly we are learning about another carmaker, specifically under the vw group, which was involved, and that means that three years down the line they are still talking about it. that means that three years loan -- down the line as well, carmakers have continued to fit cars with ththis software devic, which means they haven't taken heed from the cautionary tale which should have been volkswagen. brent: we will be back to you in a few minutes for more business news. now we turn to the fallout over u.s. president donald trump's transgender ban, his twitter declaration barring transgender personnel from serving in the u.s. military has provoked strong criticism. transgender people identify themselves as being a different gender to the sex they are born with. trump says they are disruptive and calls the army huge medical costs straight his surprise announceme h has throwown thousands of transgender soldiers into uncertainty. america's top generals say there will be no change

volkswagen, bmw, daimler, audi, portia. all german car brands clues of collusion. the allegation is that since the 19905 they regularly held talks to agree cost5, either for pa rt5 talks to agree cost5, either for parts or talks to agree cost5, either for part5 orfor talks to agree cost5, either for parts or for technology. the news has rattled investors. when german media first published the reports, shares in volkswagen fell by 4.9% and shares in bmw and daimler dropped by more than 3%. the european commission and the german cartel office haven‘t yet launched an official probe but they are looking into the allegations. if true, this would open up a whole new chapter in the diesel emissions scandal. that‘5 chapter in the diesel emissions scandal. that‘s because engine exhaust technology was also allegedly involved in the cartel. volkswagen and other german brands are only now starting to recover from the emissions row. so another scandal would be a blow to the industry‘5 reputation. let‘5 cross over to the us now— earlier cnbc tweeted this: "trump to a

you'll see right here a red volkswagen crashed into a power pole on north bridge avenue. and it caused that power outage. the volkswagen was involved in another collision with a black bmw just before crashing into that pole. the driver of the volkswagen now under arrest for suspicion of dui. >>> new morning from santa clara where all lanes are back open on highway 101 near the grain america parkway after a crash involving a gas tanker. chp says a white mercedes rear ended the tanker truck. suv flipped over trying to avoid the initial crash. three people injured, taken to the hospital, fortunately the tanker didn't leak any fuel. >>> happening tonight, police and firefighters in walnut creek will be conducting a live training drill, no parking signs already out at walnut creek's broadway plaza. the drill will take place from 10:00 tonight until 2:00 tomorrow morning and streets around the plaza will be closed. police warn that there will be loud bangs and smoke as officers simulate explosions, again, this is just a drill. >>> developing news, protesters angry over the appr

. >>> a parade of vintage volkswagens rolls into half moon bay. i'm jonathan bloom with why they're here and why they're headed, ahead on "abc7 news." >>> plus, the moment of success the energy conscious whopeople among usle? say small actions can add up to something... humongous. a little thing here. a little thing there. starts to feel like a badge maybe millions can wear. who are all these caretakers, advocates too? turns out, it's californians it's me and it's you. don't stop now, it's easy to add to the routine. join energy upgrade california and do your thing. things are heating up on the wta time to play when the us open series hits stanford... for the bank of the west classic, join the celebration of summer. where the action off the court, is just as hot as the action on it. july 31st through august 6th join us monday, july 31st for net generation kids' day. the ultimate family tennis experience! don't miss the wta action while it's in stanford. >>> well, it sounds like a movie, a mysterious foreigner comes to the bay area, buys a plane, a

. >>> a parade of vintage volkswagens rolls into half moon bay. i'm jonathan bloom with why they're here and why they're headed, ahead on "abc7 news." >>> plus, the moment of success for who are these people? the energy conscious people among us say small actions can add up to something... humongous. a little thing here. a little thing there. starts to feel like a badge maybe millions can wear. who are all these caretakers, advocates too? turns out, it's californians it's me and it's you. don't stop now, it's easy to add to the routine. join energy upgrade california and do your thing. >>> well, it sounds like a movie, a mysterious foreigner comes to the bay area, buys a plane, and takes flying lessons to smuggle hundreds of pounds of illegal drugs. the man planned to go from santa rosa to hawaii before getting to australia. that's 2400 miles on the first leg and 5300 on the second. kate larson is live in santa rosa with more on this story. kate? >> reporter: well, ama, the owner of this business said his australian customer could barely start the

is it a phoenix moment for volkswagen as they raise -- ferdinand: yes. what we see today is that , porsche, they improved the general brand. the review was not so strong at the moment. what we realize at the moment, is that germany has the cartel problem with the total car industry, the german carmakers, and german media is stuck to strongly in this, so therefore we see problems with the oil industry in germany if we do not change the strategy, if we do realize to say we want to plan for this. likent to go into the -- the u.k. yesterday announced. manus: you are right. this is about getting ready for the future. i just had a conversation with the shell ceo. he said "my next car is going to be an electric car." when you look at bmw, when you look at daimler, when you look at volkswagen, how behind the curve of going electric are they? ferdinand: depends on what will be the benchmark. take tesla and elon musk as the benchmark, and we just started producing a modest -- five years. tesla has a big chance to become the big brand in the car in the premium sect

the two firms have denied, that's volkswagen and daimler denied the allegations. this plays into the diesel emissions scandal. you can read more about that online. has nintendo made a comeback? it's just announced a return to profit on strong demand for its switch console. mariko 0i is in singapore. give us the numbers. well, rachel the company has managed to make about $115 million in the three months between april and june and as you mentioned the company's basically back in the black after losing money last year. it is still nothing compared to its heyday though. about a decade ago when its very popular wii console was turning consumers into gamers. the company has been betting on this new console, switch, which was launched in march. in the first month the company managed to sell about three million units worldwide which is about the same as its rival xbox as well as playstation 4 and the company hopes to sell ten million more switches in this financial year which analysts think is quite conservative, but the company has been having production issues to catch

they are hoping to get more information at the end, and get the higher ranking managers within the volkswagen company. that's at least what we believe at this point, and for all of her schmidt, -- oliver schmidt, he could reduce his sentence if he plays along with u.s. prosecutors. the plea hearing is set for next week, friday. we will learn more and a good week from that. helena: jens korte in new york, thanks for that. britain's front office is investigating the mining giant rio tinto, looking into suspected corruption in connection with the world pass biggest untapped iron ore deposits in guinea. a story on authorities also probing the company. rio tinto reported itself to regulators last year after uncovering $10 million in questionable payments connected with the project. now, greece has returned to the bond market for the first time in three years, but why is it testing itself on the markets against other economies, which are in much better shape, at a time when it's also still receiving -- reporter: the eu finance commissioner and the greek prime minister met in athens to mark a specia

. >> from castro valley where 61 people are without power after a red volkswagen crashed into a power pole. this is new video into our newsroom. this happened after 2:30 this morning. the vokelkswagen was involved i another collection with a black bmw before crashing into the pole. the driver of the volkswagen is now under arrest for suspicion of dui. >> protesters angry over planned parenthood took out their anger using chalk. >> they scribbled anti-abortion messages all over the front sidewalk of a home. >> the work here followed them home. we've got some video of those messages. take a look at these anti-abortion messages that showed up outside the home of dennis richards. this is after the san francisco planning commission approved a new planned parenthood. some of the messages include save the babies and baby killer. neighbors of dennis richards told the san francisco examiner that about 40 young kids and 3 adults were responsible for doing this graffiti. this did happen outside the home of two commissioners. one, though, asked to remain anonymous. dennis richards is the other on

. >>> up next, volkswagen is paying back for its emissions scandal. the changes that you'll see here in california and also at our state capital. >>> but first, happening now, out of southern california, an irvine man is facing hate crime charges after throwing coins at two muslim women. >>> a ferrari driver wrecks his $288,000 super car an hour after he bought it. the driver in the united kingdom said the driver was able to walk away, though, with just some cuts and bruises. as for the ferrari went airborne and burst into flames. the car was one of only 499 ever sold. we're back with more news in two minutes. food. water. internet. we need it to live. but what we don't need are surprises, like extra monthly fees. i see you, fee, played by legendary actress anjelica huston. you got me, mark. we just want fast internet for one, simple rate. for all the streaming and the shopping and the newsing, but most of all... for the this. internet for one everyday simple price and no extra monthly fees. the energy conscious whopeople among usle? say small actions

my equity story is based on the earnings potential that volkswagen has arnt, thank you very much for that we'll see whether that breakup happens. >>> a quick look at the european equity markets on this wednesday morning. we're looking flat not very exciting at all stoxx 600 index is just hugging the flat line with an equal number of gainers and decliners at this point. we have the u.s. coming back online todayafter yesterday's fourth of july holiday maybe that gives us more direction today. oil prices are mixed yes, you saw that the likes of adidas has been upgraded let's show you the individual markets. the dax actually down despite that upgrade to adidas, we saw an upgrade to the mining sector, and the cac 40 is up by a smidge coming back to some sectors. this is the picture when it comes to the sectors basic resources benefitting from that upgrade from credit suisse. household banks doing better on the down side, healthcare, utilities and real estate. >>> let's talk about the italian banking sector, because banca monte dei paschi is aiming to sell 18 billion euros in bad debts by

play outut within europe, within germany, not necessarily so much becoming a global legal threat to volkswagen at this point. helena: jens, standby b because were going to take a look at new developments in dw's scandal in the u.s. and then i want to come back to you. an american force says executive oliver schmidt intends to plead guilty and month in the carmaker's omission scandal. is one of several germans charged in the u.s. in the scheme. that affected may be 600,000 diesel vehicleles there. h's been i in custody sincnce january,y, when arrested on vacation in january. schmidt was s the manager of d's environment and engineering office in detroit. back over to you, in new york. why this sudden guilty plea and what can we expect to come of this? >> it seems to be the usual games by u.s. prosecutors that they are actually going up the food chain, meaning they start with a lower rank, threatened with a long-term prison sentences, and then they are hoping to get more information at the end, and get the higher ranking managers within the volkswagen company. that's at least what we believe at t

volkswagen is going to pay california in connection with the diesel air pollution scandal. that will go to the air resources board. part will go to an air pollution fund. the other wipay for past and future costs of the vw investigation. this comes on top of the $15 billion volkswagen has already agreed to pay agencies and consumers. the company admitted rigging hundreds of thousands of cars to cheat california's air pollution regulations. >>> if you need a new wardrobe, listen up because next week, mcdonald's will be giving away a new limited edition clothing line that includes an adult sized big mac onesie. >> stop it. >> i'm not making it up. celebrating global delivery day on july 26th by giving customers from the mcdelivery collection. also includes world famous fries jogging suits and sandals. hamburger pillowcases. and a picnic blanket dotted with mcdonald's items. customers will be able to get the items for free while supplies last by ordering meals using the uber eats app. the cities, though, will only be unveiled on tuesday. so we don't know if reggie or mike will

volkswagen and said it was not taking an official position after that meeting. but that exchanges between manufacturers on technical issues were not abnormal. let's check in on the day's trading action now the major european indices closed upwards. tech council meeting with gains of about half a percentage point frankfort docks about a third. on wall street we've seen at new record highs for the dow jones s. and p. and nasdaq. at shares in boeing also trading up about eight percent and once again hitting a record high there. is it raised its full year earnings guidance. investors have been watching as the federal reserve wraps up a two day policy meeting as expected the american central bank has kept its key interest rate unchanged at between one and one point two five percent. but it said it expects to begin winding down its money tree stimulus quote relatively soon. many economists believe that could start in september. that involves paring back the florida half trillion dollar balance sheet. to build up by buying treasury and other assets after the financial

german automaker audi the luxury brand of the volkswagen group will retrofit up to eight hundred fifty thousand diesel cars with new software to improve their emissions performance it's admitted to creating software which turned on emissions controls during lab tests and then illegally turned them off when the cars were on the road in order to improve performance in total five german automakers mercedes benz opel volkswagen and its subsidiaries audi in porsche recalled six hundred thirty thousand diesel vehicles in europe after it was found they also manipulated emissions audi is now set to fork over one point three billion dollars in a payout to the state of california alone over this it's compounded by a four point three billion dollars settlement due to the us government the global cost of fines and compensation is estimated at around twenty two billion euros or more. and if you've ever suspected that online retailers recognize your account or ip address then proceed to boost the prices.

no i it's gonna require more money more infrastructure more planning becomes a volkswagen are for under acelera claire to spend two billion dollars to improve. infrastructure and they had more charging station so. that the move is going there the question is what's the wrap up in this twenty forty realistic. david yepsen thank you so much for joining us thanks. you're watching bbc world news america still to come on tonight's program. vise ravaged lots of the french countryside. thousands of forced to evacuate as the flames approach. one of the vatican's mice high ranking officials cardinal george pal is facing historical charges of sexual abuse in australia. the third ranking vatican official returned to his home country added this month after the pope granted him a leave of absence to allow him to fight the accusations. details of the charges have not been revealed but cardinal pals lawyer says he will plead not guilty to all of the accusations. the last i was at a court hearing. prove it is not fair becaus. there was no special treatment for one of the most powerful men in the vatica

the volkswagen was involved in another collision with a black bmw just before crashing into that pole. the driver of the volkswagen is now under arrest under the suspicion of dui. >> happening today, the senate will take another crack at passing a health care bill, one that experts say is already doomed to be defeated. >> yesterday, not even the stunning return of arizona senator john mccain could muster enough support to pass the latest version of the republican bill. mccain, who has been diagnosed with brain cancer, then gave his colleagues a wake-up call. >> let's trust each other. let's return to regular order. we're getting nothing done, my friends. we're getting nothing done. >> later today, the senate plans to vote on a bill that would repeal obamacare but replace it with nothing for the next two years while congress hashes it all out. >> meanwhile, the possibility of losing coverage provided by obamacare has many families facing financial disaster. kevin burke from belmont worry said his sister kathleen, who has a pre-existing condition of cystic fibrosis, may not be fully cov

profits at german car—maker volkswagen more than doubled in the last quarter. the strong earnings were a result of cost cuts and sales in new, higher—margin models. the results come a day after volkswagen defended alleged collusion in the car industry, saying cooperation with rivals like bmw and daimler actually helps customers. lots going on on the these live —— web page. also news about how the stock market is doing, and astrazeneca stock is diving. the story doing the rounds, lloyds doing mortgage arrears charges. it has set aside £283 million to look at mortgage arrears issues. for the first time ever e—commerce giants — alibaba and amazon — are going head to head. today amazon is launching its fresh food service in alibaba's back yard — singapore. the two are trying to get a foothold in the south east asian market which boasts up to 600 million people, which could be worth at least 70 billion dollars by the end of the decade. our asia business correspondent karishma vashwani has more. tell us how this is going to take shape. i was at the ama

this is back when they were apparently the size of a volkswagen. the kennedy family, jackie and his children have some personal items. these are two letters that she wrote to margaret mcnamara, the wife of robert mcnamara who was kennedy's defense secretary did this is a very personal note read -- note. she decided to move to new york city. misses mcnamara wrote her a note. this is the hand written reply. she says it will be better for the children. that's a heart rendering line. junior became the publisher of george magazine. he became a public figure himself. he introduced his uncle at the democratic convention in miami. you.gan by saying thank it's a great honor. the rest of his cousins or not return phone calls because they were campaigning for themselves. he introduced his uncle. given the tragic end of his life about a decade later, it's a heart rendering item to look at. what we discovered as people come to this exhibit is a lot of people have their own story. everybody of the right age knows exactly where they were when they heard president

. >>> volkswagen says u.s. environmental regulators have agreed to the company's plans to fix the cars involved in its cheating scandal. the company says the epa and other regulators will let the automaker fix or buyback cars in the scandal. under the plan, volkswagen owners can either have the omission system fixed for free or the company can buy the car back. volkswagen is expected to pay a total of $1.3 billion in fines. >>> today is a big day for tesla . the ceo is set to hand over keys to the first 30 model 3 owners at the company factory in fremont. tesla has pinned its future on the long-awaited model 3 at $35,000 each. it is the first car that tesla plans to mass-produce with the goal of delivering 1 million model 3's and the next three years. earlier yesterday, a tech reporter from the wall street journal told us who those first 30 owners will be. >> he has not identified them yet but has previously said the first customers will be employees who put their orders in. he wants to test those early edition

german auto maker audi the luxury brand of the volkswagen group will retrofit up to eight hundred fifty thousand diesel cars with new software to improve their emissions performance it's admitted to creating software which turned on emissions controls during lab tests and then illegally turned them off when the cars were on the road in order to improve performance in total five german automakers mercedes benz opel volkswagen and its subsidiaries audi in porsche recalled six hundred thirty thousand diesel vehicles in europe after it was found they also manipulated emissions audi is now set to fork over one point three billion dollars in a payout to the state of california alone over this it's compounded by a four point three billion dollars settlement due to the us government the global cost of fines and compensation is estimated at around twenty two billion euros or more. if you've ever suspected that online retailers recognize your account or ip address then proceed to boost the prices over time the federal trade commission says you may have been right a consumer watchdog prompted the

top volkswagen executives were warned a month before investors -- a fallout could cost $18.5 billion. finally for business -- the u.s. is looking to crack down. it is a trend that has turned into a major problem for organized tourists operators. have and tour's operators paid out claims, but it overwhelming number of claims has led some hotels to higher private detectives to debunk phony sickness claims. justice saystry of it will be limited and face upnt claims could to three years in jail. quirks timeout for the press review. time not to tatake a look at wht .as been making headlines >> it ends a nine-month operation. newspaper saying -- mosul haszle been liberated. >> the reaction you have been seeing in the paper today, the battle against the islamic state group is far from over. >> we are really getting this impression that for many papers the battle is far from over. mondethor argues the le the question now is how -- how the islamic state group remains dead to stabilize the -- so people can come back home, but also to incentivize those willing to move iraq into the right directi

north volkswagen nor dime -- neither volkswagen nor daimler have commented. they employ 95,000 americans. all the german stocks are falling. >>> big news in college costs, folks. tuition is growing at the sl slowest pace in decades, up 1.9% last year. an uncharacteristically small number in line with inflation, something that never happens. tuition has risen at more than double the rate of inflation since 1990, up 4 hu00% over the past 30 years fueling a slowing of student debt. it's supply and demand. the number of colleges has tripled since 1990. enrollment is down more than 4% from the peak in 2010. i never get to say something like college tuition is up 1.9%. i never get to say that. >> no. there's still the student debt crisis that looms over our economy. >> there is still a student debt crisis. two-thirds of students who graduate with student debt have $30,000. >>> thanks for joining us. i'm christine romans. >> i'm >>> welcome to our viewers in the united states and around the world. this is "new day." 6:00 in new york. we have breaking news. jared kus

it could help daimler avoid the massive penalties that hit volkswagen. the airbus campaign to sell long-haul campaigns has suffered another set that. united airlines has become the third u.s. carrier to postpone delivery of the plane. it wants to take four of the aircraft into service next year but will accept comparable planes it ordered last month. delta and american have also postpone deliveries. that is your bloomberg's nest flash. -- business flash. manus: we will get updates from , so let's pull some second quarter earnings. the director of research at bloomberg intelligence joins us now. we knew look at this earnings season, what are the expectations for rope? -- for growth? take it away. >> on a median basis, sector by sector, materials are leading the hit parade. part of that is simply recovery from last year's trough levels, and easy comparison. the key for these guys going forward is china, on the supply side, global infrastructure through,es china come things along those lines. it's not a clear-cut story. semiconductors are strong, software i

in other news: german car giant volkswagen has said cooperating with rivals is standard industry practise and that it helps customers by speeding up innovation. the comments, following an emergency board meeting, come after allegations in the german press that bmw, daimler and the vw group engaged in collusion over diesel emissions and other issues including pricing— claims they have dismissed as speculative. let's ta ke let's take a look at the markets. tokyo stocks and other markets in asia rose on thursday morning. that was back at optimism of the companies posting results better than expected. the dollar fell after federal reserve is kept interest rates on hold as expected but it has given expect is an appetite. the three main us markets moved higher as us stocks surged to a fresh record highs. the dow gaining almost half a percent, the most impressive, after boeing sought after a strong earnings report. you get in touch with me on twitter. we will be going to the papers injust with me on twitter. we will be going to the papers in just a with me on twitter. we will be going to the p

if this had happened before the volkswagen story, mercedes, just as big a company, it would be enormous. and maybe we have only heard the start of this. and of course the rumblings will go on with recalls for these cars. of course, it is reputational damage which this causes. we know the damage it has had on vw. we have seen chief executives lose jobs and issues going on. and vw are still trying to come out on the other side of that. it is yet to be seen whether the same reputational damage will happen. it is seen as the new norm, isn't it? it isn't the one naughty boy in the classroom. they are fiddung boy in the classroom. they are fiddling with emissions and everything will be ok. another death kneu everything will be ok. another death knell for the diesel. the times, rip—off fees for using credit cards to be banned. in the uk if you use a credit card to pay for something you are slapped with an extra charge. this was always the case, it would be said "yes, it cost the company that you are using a credit card with more to bank with them" and yet it is not the case any more. that i

volkswagen is set to hold an emergency supervisory board meeting later today regarding allegations that the carmaker operated a cartel alongside audi, porsche, mercedes and bmw, to control pricing on parts. if true, the reports would be a further blow to the german car industry, which is trying to recover after the recent vw emissions scandal. damien mcguinness reports from berlin. vw, bmw, daimler, audi, porsche. all german car brands accused of collusion. the allegation is that since the 1990s, they regularly held talks to agree costs, either for parts orfor talks to agree costs, either for parts or for technology. the aim was, allegedly, to block competition. all five car companies deny the claims or refused to comment. and it is possible that the talks were legal, held steadily to discuss how to standardise technology across the industry. but the news has rattled investors. when german media first published the reports, last friday, vw shares fell by 4.9%. shares for bmw and daimler dropped more than 3%. the european commission and the german cartel office have not yet launched an o

the luxury carmaker is owned by volkswagen, which admitted it had fitted some of its cars with a device to cheat on emissions tests. the guardian financial pages report on falling profits at sky television. the broadcaster has suffered a drop in subscribers as customers switch to popular streaming services such as netflix and amazon. and finally the boss of amazon, jeff bezos, has been crowned if only briefly the world's richest man. mr bezos‘ worth reached just over $90 billion, which put him ahead of microsoft founder bill gates. that's also in the ft. with me isjoel kibazo, who's an independent media and public affairs consultant and managing director of fti consulting. thank you very much forjoining us. let's start with this story in the independent, worship turns to violence injerusalem. independent, worship turns to violence in jerusalem. indeed. there was a feeling from israel that by removing the barriers and restrictions that had been placed, which were placed on the area after the two policemen were killed on the 14th ofjuly, the two policemen were killed on the 14th of july

it is not the billions and billions that volkswagen had to pay. we are looking at something that nearly -- does not have nearly the scope of the vw scandal. daimler has already voluntarily recalled 250,000 vehicles in germany. that was an agreement they made with the transport ministry. beis something that would worth watching, but it doesn't appear at this point to have anything like the level that -- of the vw scandal. matt: we have seen the shares recover from the dip at the open. is tos new news, daimler nine it is not that much money. chad thomas, thank you for your time. appreciate your reporting on this. he's german bureau chief. coming up, in the middle -- man in the middle. meets donaldron trump today before hosting a joint cabinet meeting with chancellor merkel. it will be three of them. can he bridge the growing transatlantic divide? we will discuss next. this is bloomberg. ♪ ♪ welcome back. this is the open. it is 8:44 in london. 3:44 in new york. let's stay in the americas. the former brazilian president has been sentenced to nine

if successful, the deal would make psa the continent's second—biggest car maker after volkswagen and ahead of french rival renault. opel employs 38,000 people across europe but it's feared the sale could put thousands of those jobs under threat with workers in the uk and germany considered to be most at risk. with me is anna—marie baisden, head of autos at bmi research. what you expect in the eu to say today? don't think we expect to see a problem with the deal. nobody so far has raised any issues with it. it will make them a very big group, as you said. still very much performing as separate brands, i think, so we don't expect a problem. looking at the figures, this european division has lost over $9 billion so why would psa group want to buy it? some of the comments that have come from the chief executive of psa is that he wants to bring best practices to the group. that they can maybe use opel to get into markets where french companies don't have such a good foothold. they definitely see some potential in having the opel brand. what could it mean for jobs? having the opel brand.

a bit like the volkswagen scandal, costing millions. people will receive letters to bring their cars in. it will take an hour to change this particular piece of kit and it will be free of charge. lam going be free of charge. i am going to save you here, i think at the moment, they are saying, "this kit isn't working in the way we said it would. so can we change it free of charge?" when you said the words, they have been at it, fixing it, that is an allegation as we speak. i am not sure anyone has found them guilty yet. they are being recalled. i have saved you an oil spill. 3 million cars, ifi was sitting in woakes boer, the home of bw comic i would think, why only me? let's move on to the cabinet. they have their lovely family photo today. they are happy and smiley. we have all been there. the wedding photograph of auntie alice, and your mother tells you to smile. that is this grinning together photograph. 0f this grinning together photograph. of course, at the moment, the government is in disarray, it is all being done in anonymous br