vw emissions scandal misconduct process failure and tolerance of rule breaking blamed live : Thu, 10 Dec 2015 14:47:16 GMT -
Here in London, Anglo-African financial firm Old Mutual is the biggest faller on FTSE 100 index. It has slid 11% to 174p after South Africa’s finance minister was sacked, pushing the rand to a record low.
South African bank and asset manager Investec is also down, tumbling 11% to 489.8p the worst day for the shares since 2009.
With regard to the Volkswagen emissions-rigging scandal, the carmaker’s management reiterated today that only a small group of employees were responsible.
Despite the scandal, orders so far this year are up 3.5% and chief executive Matthias Müller said he was confident that buyers would overcome their reluctance to buy the group’s cars in coming weeks. The board is still unable to estimate the scandal’s legal costs.
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