Diesel is dead. The president and CEO of Volvo, Hakan Samuelsson, virtually said as much in the middle of last month when he indicated that the latest generation of diesels developed by his company could be its last.

Geely’s Volvo Cars will not develop any new diesel engines as the cost of reducing emissions of nitrogen oxide is becoming too expensive, according to chief executive Hakan Samuelsson.

 

Volvo Car Group boosted its earnings goal for the year, saying the robust European market would outweigh a slowdown in China, where pressure to discount is increasing.

Royalty, scientists, business leaders and diplomats gathered in the capitals of Sweden and Norway today to honour this year’s 12 Nobel laureates from Kenya, Austria, Israel and the United States.