As Germany tries to exert more authority over the widening car industry emissions’ scandal that began in the country, it is finding not all car makers are so keen to co-operate.

Volkswagen agreed to fix or buy back about 500,000 tainted cars in the US, taking a significant step forward in its effort to emerge from the emissions-cheating scandal.

Volkswagen’s top executives knew a year ago that some of the company’s cars were markedly less fuel efficient than had been officially stated, German paper Bild am Sonntag reported yesterday.

Volkswagen has posted its first quarterly loss in at least 15 years and said the €6.7bn set aside to cover the costs of its rigging of diesel emissions tests was likely just a start.

German prosecutors have carried out searches as part of their investigation into the Volkswagen emissions scandal, seeking material that would help clarify who was responsible for the cheating.

Colin Murphy has been back raking over the coals of the banking crisis, with his latest play, Bailed Out, in effect, the sequel to Guaranteed, the story of how Ireland toppled into insolvency.

German Chancellor Angela Merkel has called Volkswagen’s emissions-rigging scandal a “far-reaching event” and demanded the world’s largest carmaker quickly investigate it.

Volkswagen is looking at ways to cut costs and boost cashflow and could sell more shares if the price of clearing up a scandal over its rigging of diesel emissions tests puts its credit rating at risk.

Here’s a briefing on some of the stories and issues highlighted on irishexaminer.com today.

A study shows leading car brands such as Mercedes, BMW and Peugeot are pumping out around 50% more CO2 than they claim in official tests.

Former Volkswagen chief executive Martin Winterkorn might not get the final payout he anticipated amid opposition from labour union leaders. 

German prosecutors have launched an investigation into fraud allegations against former Volkswagen boss Martin Winterkorn over the carmaker’s rigging of diesel emissions tests.

Ongoing worries about the health of the Chinese economy and another big sell-off in drug manufacturers pushed the US stock market back towards its lowest level of the year.

Many of Germany’s top figures have a history with the car industry, including the chancellor, Angela Merkel, and regulations have been lax as a result, writes Noah Barkin.

THIS has not been a good week for tooth-and-claw capitalism. The excesses of the process and its utter indifference to the common good have been highlighted in startling ways that demand a meaningful international response.

Volkswagen rigged emission tests on 2.8m diesel vehicles in Germany, the country’s transport minister, Alexander Dobrindt, said yesterday, six times as many as it has admitted to falsifying in the US.

Earlier this week, the former CEO and owner of the Peanut Corporation of America was sentenced to 28 years in prison for his part in a salmonella outbreak that led to the death of nine people across the US. More than 700 people suffered illness and 166 being hospitalised as a result.

The revelations about Volkswagen’s emissions fraud, added to recent scandals at Siemens and Deutsche Bank, show a German corporate establishment that is out of step with a society that is actively trying to atone for 20th-century sins, writes Leonid Bershidsy

The software at the centre of Volkswagen’s emissions scandal in the US was built into its cars in Europe as well, though it is not yet clear if it helped cheat tests as it did in the US.

Isn’t karma a funny thing? For the last few years the people of Greece have had to endure insufferably patronising moral lectures from Germany about how dysfunctional Greece is and if only it was more like Germany, life for Greeks would be so much better.

Resignation comes a day after asking the staff and public for trust

An $18bn (€16bn) liability figure attached itself last Friday to Volkswagen’s diesel disaster.

The Environment Department has said any manipulation of emissions data “would certainly be a matter of concern” if evidence emerges that Volkswagen practices impact on Ireland’s EU air quality obligations.

NEARLY 12,000 Irish people bought a Volkswagen car last year and, in the light of the emissions scandal that has already cost the German car manufacturer €24bn — another €6.5bn has been set aside for initial compensation and penalties — every one of those must wonder if they can rely on the company’s claims and promises about their new cars.

Here’s a briefing on some of the stories and issues highlighted on irishexaminer.com today.

Martin Winterkorn’s days as head of Volkswagen appeared numbered yesterday after the German car maker said a scandal over falsified vehicle emission tests in the US could affect 11m of its cars worldwide.

Volkswagen lost almost a quarter of its market value after it admitted to cheating on US air pollution tests for years, putting pressure on chief executive Martin Winterkorn to fix the damaged reputation of the world’s biggest car maker.

Volkswagen has ordered an external investigation, after US regulators found that its software for diesel cars gave false emissions data, its CEO said yesterday. He said he was “deeply sorry” for the violation of US rules.

London: Bank of England deputy governor Andrew Bailey said the increasingly large fines banks face for poor conduct threaten to undermine efforts to recapitalise the industry.

Along with the forthcoming new Ford Mondeo, the new Volkswagen Passat will be one of the most important new cars launched this year and last week — at the impressive Volkswagen Design Centre in Potsdam — the new car got its world premiere.

Volkswagen Group has announced a spending programme of over €50bn in its automotive division over the next three years.

Volkswagen, Europe’s largest carmaker, reported record 2011 profits as demand increased for Audi and VW 4x4s.

Volkswagen AG said today it will pursue an eventual merger with Porsche SE under VW’s leadership, promising the luxury sports car maker will retain its independence.