VW ex-boss target of criminal probe by German prosecutors

Sep 29, 2015

VW ex-boss target of criminal probe by German prosecutors

German prosecutors on Monday opened an investigation against former Volkswagen CEO Martin Winterkorn to establish what his role was in the emissions-rigging scandal that has shaken the world’s largest automaker. The investigation will concentrate on the suspicion of fraud committed through the sale of ...

Toshiba posts ¥37.8 billion loss after profit-padding scandal

Sep 7, 2015

Toshiba posts ¥37.8 billion loss after profit-padding scandal

Crisis-hit Toshiba Corp. said Monday it would book a ¥37.8 billion ($318 million) loss for the latest fiscal year because of a billion dollar profit-padding scandal. The vast 140-year-old conglomerate announced its annual loss for the year to March 2015, reversing a previously expected ...

Aug 13, 2015

Takata competitors making 68% of air bag inflator replacements

Takata Corp., the company whose faulty air bags are behind a record vehicle-safety recall, is depending on three of its key competitors to produce the majority of millions of replacement parts. By March, Autoliv Inc., Daicel Corp. and ZF TRW Automotive will make about ...