volkswagen stock down 9% as i speak. let's bring in the global chief investment strategist at blackrock, talk about timing. blackrock and yourself put out a report. the price of climate change, whether you believe in it or not, it is now an investment issue. this is not going away. >> the way we look at it is, climate change is uncertain, the science is well-known, but the timing is uncertain. for long-term investors, extreme and unexpected losss uncertain. it is a function of the japanese synonymy in 2011. jon: how do you reduce climate risk in 2011? it is a corporate crisis that has echoes of enron. that is the view of some people. as you look at that situation, it is a call to reduce the risk in your portfolio? 85%hen you think about it, of emissions come from 35% of the stock market. if you have a process of screening or excluding, or if you are really active, you can reduce the risk of this exposure quite materially. jon: for the people watching, they say that is easy. pullback from the biggest polluters, anyone in

i'm sticking with volkswagen.nd i'm sure that if volkswagen did manipulate things, then other car companies have probably done exactly the same. >> but vw didn't just make headlines in france because of the emissions fixing scandal itself. two agencies responsible for placing vw advertising in france also tried to muzzle the french press. according to the journalists involved, the agencies refused to place ads in newspapers unless they agreed to drop reports critical towards volkswagen. the french reacted with satire rephrasing vw's international , slogan volkswagen --das auto, with c02 -- das problem. the company and germans in general have become the butt of french jokes. >> germany is regarded as very straight. germany doesn't have any debts. in germany, there are no strikes. when something does go wrong in germany, even the most intelligent people feel a certain schadenfreude. it might be foolish, but it's true. >> vw's shiny german image has become tarnished. it'll probably take some time before the french --

>> when we talk about complexity within volkswagen, it's less holding the stake in volkswagen. it's more the size of the vw group. we talk about 12 different brands, selling cars and trucks globally and that complexity lead to a lack of focus on the core business and that's the core of the problem here. >> so we still haven't gotten the break down on third quarter results yet but we got the nine month figure. 1.19 billion euros. can you make an estimated guess as to what that means? >> volkswagen reported a profit as well. everything was fine until the 3rd wart when they set aside the 6.7 billion provision that directed them into a loss for the third quarter but not for nine months. i mean, the porsche number is more of a calculation figure just derived from the vw because the porsche holding doesn't have earnings themselves. it should be around 1.1 billion or 1.3 billion as a loss. >> we have to wrap this up but your recommendation? >> we're buyers. we're buyers of the german autos. we like volkswagen. it's a turn around story but a painful one for us to be frank. they have st

she took out a loan to buy her $40,000 volkswagen. she wanted a car that will produce fewer toxic emissions on her daily drive to work. and she believed the volkswagen still better diesel option will be more environmentally friendly. >> translator: volkswagen's reputation has plummeted. i can no longer sell my car. its value has sunk in the used car market. >> reporter: more and more motorists in south korea have been embracing diesel. they like the idea of driving something that's fuel efficient and eco-friendly. volkswagen group officials say their sales have been climbing, especially since the free trade agreements last year between south korea and the eu eliminated a tariff on cars with engines over 1500 ccs. they say last year, south koreans bought more than 30,000 volkswagens and they say sales for subsidiary audi increased more than tenfold to 28,000. but now many owners are lining up to demand refunds. >> translator: these people are very upset. vw hasn't come up with a clear plan for a recall or compensation. >> reporter: he

volkswagen says that is really just a fraction. this mostly has to do with the engines that are giving them all this trouble. here are the models that are going to the affected. volkswagen, the polo, the gulf, the passat. on the audi side, the a-one, the a-3. monteith mueller, the new ceo, comes from porsche. here's what he said when they announced these regularities. beginning, i set out to completely clear up this situation. , butis a painful process there is no alternative. this is volkswagen trying to come clean with what they know and get it out there and take the hit. they said this could have economic impact of 2 billion euros. on the porsche side of things, we don't have a lot of clarity. the epa says 10,000 the a goals including the porsche that has that three liter engine could be affected. volkswagen is disputing this. they say they will work with regulators to clarify the matter. yesterday evening, porsche north 2014,a took off the lot 2015, and 2016 cayenne's. those models are not available stateside. manus: as you say

problems keep on stacking up for volkswagen.he company's market value lost another 3 billion euros this wednesday. shares lost almost 10% in frankfurt as they got punished by the company's widening emission scandal. it has been understating the fuel usage in as many as 800,000 vehicles. we have more now on what it means for the carmaker's growing tab for the crisis. is getting worse. carmaker volkswagen has reported irregularities in emission levels which could affect 800,000 cars in europe. this new problem but cost about 2 billion euros -- this new problem could cost about 2 billion euros, in addition to what volkswagen has already put aside for recalling 11 billion vehicles worldwide. this does not include legal fines and compensation. it does not factor in additional lawsuits if the crisis deepens. in the long run, the crisis could come closer to 32 billion euros. some traders remain optimistic about the carmaker's future. >> i find the question of whether volkswagen is threatened to be considerably exaggerated. --course the

volkswagen is flat. flat is worse than the market but may be better than people have expected, but that is only due to relatively strong numbers still coming out of audi. in america, many consumers did not connect the dots. they did not look at audi as a volkswagen brand. we have learned in the last couple of days, of course, that audi is directly involved. some of those numbers are going to go away in the next couple of weeks. smokes lichens numbers, being week already, are going -- volkswagen has numbers, being week already, are going to go way down. sarah: this latest element of the scandal is probably going to cost about 2 billion euros. is that likely to be accurate? ben: the company set a reliable assessment of the scale of these irregularities is not yet possible. they have already put aside 6.5 billion euros, 2 billion just for this 800,000 vehicles. we are talking about 11 million diesels. it's a hard one to call, sarah, but we will certainly see. sarah: this is definitely not the last we have h

-- volkswagens? buyer, and who they will switch over to it volkswagen continues to disappoint? a volkswagen diesel buyer may be different from the volkswagen mainstream buyer. the diesel buyer is someone who is a little bit, more of a car enthusiast. diesel is kind of a niche market. you have quirky folks who are interested in performance and fuel economy. not necessarily going hybrid route. that was a thing when the story broke the people will be buying hybrids. i don't think necessarily there's a lot of cross over there. you could see an influx into other smaller brands like subaru. these people want something different than the mainstream. perhaps mazda as well. scarlet: i know we through this headline i do. in your opinion, what might this have to do with epa accusations yesterday that there is a larger three liter engines that also could have had the default devices and the router device -- the broader issue is how much worse can it get? jessica: it's hard to say how much worse they can get. it'

francine: how concerned are we -- volkswagen put porsche and had volkswagen.w we have the spotlight on porsche. is that something of concern? the: when you look at optics of this, it is not a great morning for volkswagen. they thought they battled through a lot of this. they set aside 6.7 billion euros for provisions for legal costs. there is one big unknown. we still do not know what fines are going to be and we do not know where all fines are going to be. the factor is another round, even though this is only 10,000 vehicles, the epa is crying foul could give you an indication the negotiations, conversations, the dialogue between volkswagen any epa is not going that smoothly. bmw earnings out today. they were great and they surprised to the upside however, they lagged in china. ins: well, they lag china. when you look at the race between bmw, mercedes at audi, mercedes when the last three months. we expect bmw to retain the top spot at the end of the year. here is the issue -- and china where a lot of the new models of mercedes are rolling off are had 31% inr

volkswagen not having it. hans: volkswagen says the v6 to three liter engine are not affected by the device software. that is the volkswagen line and they say they will work to clarify the situation. if you look at the complaint, the allegations that the epa has lodged against volkswagen they say the weather they did the application process for them wasn't entirely on the up and up. so the charge is a little different from what we had in those initial vehicles. but it is waiting the stock and down almost 4%. here is what volkswagen is saying. failedgen has once again in its obligations to comply with the law that protects clean air for all americans. in some way this is symbolic. audi and the porsche cayenne. the fact that porsche is mueller mr. matthias came from porsche. that significant. even though the number of affected vehicles is relatively small. how is this playing out domestically given that he is at the front and center of this story? they are leading with volkswagen's denial of it. that is a slight

we were not expecting to find volkswagen, and we did. then it seemed that volkswagen have the lowest reporting rate. and then, can we find actual losses that did not make it into the story, and we did? -- and we did. david: i think people will be looking for continuity about the volkswagen corporate culture. another huge problem for volkswagen? jeff: yes, and it is a problem across the industry. the people are blooming regulator. some people are blaming the culture that there was not enough focus on all of these sorts of things. -- some people are blaming the regulator. there are things that people need to do to check off the box, but in this case, the outright cheated. it's usually not so blatant. penalty would volkswagen face? honda faced a record amount of penalties, $70 million worth. they say that they are doing a third-party audit of their own to determined the compliance issues, and they will a, and theat to nhts u.s. regulator will decide what that means for volkswagen. volkswagen, they can say, you have two, hit them with $70 mi

let's see how volkswagen do.hat people who wanted greener volkswagens, will that catch up to them? erik: there are reports of growing evidence that audi is a part of the scandal. what does that mean? >> they had no choice. body has to be a part of the scandal. let's put itit, that way. >> they are part of the same engine line, they have to at some point say, we are getting a great improvement. what is going on? here is what we did. it is too big of a thing for people not to notice. erik: if it was just a bunch of engineers in the volkswagen unit, maybe it was isolated. if engineers at audi do as well, how could that information not have been shared? >> this will be their undoing. the are very smart project managers. i don't think all of them were dumb enough to ask those questions. are andhow clever they how quick they are to be on top. if you are at an auto show, you can watch the engineers. erik: thank you very much. great to see you this morning. coming up on bloomberg television, i will be sitting down with a

regulators and volkswagen that took place last week. volkswagen on friday smet a deadline to submit an initial report to fix the diesel engines, the root of the problem that started in the united states. during the meetings volkswagen admitted there are some cars affected when you talk about the larger 3.0 liter engines that affect audis and higher end models. when the diesel deif he is broke it was lower end. the total cars are 85,000. by the data it seems that the investigation, the probe is expanding. the more allegations we get, the more admissions we get. you're talking about further implications. >> can i bring in the german pmi this morning. there's an upside in the manufacturing data. apparently this volkswagen scandal hasn't been affecting the broader made in germany manufacturing sector? >> that's definitely good news when we talk about the broader manufacturing sector. we still don't know what the impact will be in terms of jobs at volkswagen. on friday jokvolkswagen said th were affecting cap ex. mattheus miller said they co

where is the greatest risk for financial liability for volkswagen?i suppose it would come from the legal claims. there will be, well, there will lawsuits now whether it is in the united states, whether it is in europe, that will impact the ability of shareholders to get money back from the company. discomfort has to invest a lot further to improve their r&d, to improve their ability to meet the requirements. the lawsuits.e of course, the three components, the main shareholders, will all have to, well, subsidize the company at some point. it might be coming from the state, from the german state. this companyet fail a few years ago. they might be involved at some point in the future. this is coming to potential bankruptcy. i'm not talking about bankruptcy here. the rating that we have, ddd+, still means that the company is quite solid. at some point the future, everyone might be involved. whether it is the family's, the state, the lower saxony state or the german state. there will be involvement of all those constituents in the financial strategy of th

a gunman is on the loose there and could be shooting high, and don't try putting the brakes on volkswagen'sty diesel scandal. the automaker now recalling thousands of vehicles in the u.s. over, you guessed it, break problems. ♪ brent: i am brent goff. london says it has reason to suspect that a bomb may have caused the crash at a -- of a russian airliner last weekend. all 224 people on board died when the airbus went down about 20 minutes after taking off from sharm el sheikh. the military has been struggling to control extremist groups in the sparsely populated area. of course, that is the sinai peninsula. the egyptian group linked to the islamic state has claimed responsibility more than once, and this claim has been disputed. well, british aviation experts are on their way to sharm el sheikh to assess airport security there. the u.k. transport secretary has just given a statement, explaining the government's decision. listen in. >> we cannot directly say why the russian jet crash, but we have become concerned that the plane may well have been brought down as a result of an explosive devi

volkswagen is also promising $2,000 to volkswagen owners who want to trade in their cars for new vehicles. that's on top of the gift cards. the company is also working on a permanent fix to fix this mess. along with the recall that could bring all of the cars within u.s. emission standards. and we're told that customers do not need to waive their right to sue in order to take advantage of these incentives. in fact, they created a special website to get all these details. and we should note that 200 lawsuits have already been filed here in the u.s. now, for more information on all of this, including that website that you can go to, go to our website, nbcnewyork.com. chuck, back to you. >> linda, thank you. >>> still ahead as we continue on news 4 at 5:00. new details for you on a horrific attack on a little girl by a pit bull on long island. >>> and target makes an announcement about its shopping plans this thanksgiving. will they impact your plans? janice is here. >> we have some rain coming our way. we are tracking it right now on storm tracker, which is good news. we need the rain, but

the south korean government is responding to volkswagen's emission scandal. officials began conducting tests on the auto maker groups sold in the country. investigators are putting the cars through their paces on highways, hills and other outdoor surfaces so that they can emit the effect of the legal software that only works during tests performed indoors. authorities plan to release the findings soon and they say they will consider punitive measures for any violations. >> translator: consumers want to know if their cars are involved in this fraud. we want to carry out the tests as carefully as we can. >> reporter: that's not all. government officials say they plan to check not only volkswagen vehicles but all diesel cars in south korea. they launched the inquiry in september. nhk world, seoul. >> and i will have more headlines for you in business news next hour. for now i will leave you with the market figures. >>> prime minister shinzo abe will be the first to attend cop 21 later this month. the top government spokesperson yoshihide suga announced the prime

not only for volkswagen. all the auto makers are falling. bmw is falling today and one day, there might be a bit of information that says actually we have been doing a little bit of this as well. maybe we have problems with our emissions levels as well. the other problem for this group even when they sorted out all the problems with these emissions and paid all of their fines to the epa the regulations could change and get tougher and worse for diesel as well and they're at the crux of their european and wanted to be global strategy so the whole business model could be turned. >> isn't it interesting who is leading the charge to get more adoption of diesel vehicles. >> and what is interesting is this comes at the same time that the u.s. auto sales were record breaking. october figures, 18 million units plus. the industry, apparently, and i say that because the inscentive are doing well state side. >> not many people buy diesel vehicles in the u.s. >> it's small but they were trying to push them and now that industry policy in tatters. >> tha

all of the things you are talking about with volkswagen, ups -- it all affects the volkswagen -- theturn has been finding young scientists. have been prizes issued for people who had ideas when they were in college or graduate school. stephanie: you are not for sale? >> no. a product that we have built is built from the ground up. you get a very different feel. how humanscinated by behavior doesn't factor in. bringing three women into the mix is important. havehat women necessarily an emotional push. i know plenty of women who have none, but making that diversity in the decision-making process is critical. >> in an industry that is the lifeblood of commerce, that is what you get to be the piÑata at the party. it takes 10 years to come out of it and we are seven years in. it is the right type of restructuring. before you go, let's talk about the film project. i understand that stephanie and erik schatzker star in it? barbara: it is a film called it is about a woman banker,n investment taking a high-tech company public. stephanie: how did you get involved in this? film finance is a gna

falsified results from 800,000 cars made by volkswagen. the transport minister is now saying 98,000 of them were gasoline powered. the engines are reportedly 1.4 liter models sold under the volkswagen and audi brands. they offer tax breaks for environmentally friendly vehicles that ee met low levels of carbon dioxide. they have to pay extra tax retroactive to the purchase date. he says he will study ways of makesing volkswagen and not the owners shoulder the extra cost and cite the costs to the company of $2.2 billion. the disclosures have sent a shock wave to european stock markets. volkswagen share prices temporarily plunged more than 10% in trading on wednesday. >>> let's check in on the markets here in tokyo. share prices are trading higher this morning. bucking an overnight slump on wall street after federal reserve chair janet yellen hinted of a december rate hike. this is pushing up the dollar and boosting export related shares in tokyo. the benchmark nikkei up at 19,010. it is continuing yesterday's momentum, which was fueled by th

volkswagen is far from out of the words.nical fix for more than half a million vehicles in the u.s. has yet to be agreed upon with regulators there. that will be more difficult because the country's omission standards are much stricter. anchor: he must have been an exciting day. he got to meet the property's comedic nation's team and find out how it actually plans to communicate its way out of this mess. >> i did. ben, it seems like the dust is starting to settle. they have a plan on how to fix at least some of the cars in europe. they have opened up, there was a meet and greet and press this morning, a new move towards transparency and opening up. so definitely that is happening, but there's also still a lot of things that are unclear. >> one of the unclear things being who was actually responsible. who has been fired so far? who has been kicked out of the company? >> a few people. martin, he's taking political responsibility. apart from that, it is still a little bit shady. it's unclear who was actually involved. the compa

volkswagen postgame report coming up next. final score 34-31 cardinals. >>> welcome to the volkswagen passat post game report. here now bob costas. >> another good one on sunday night. arizona wins it. virtually a last-second field goal. 34-31. they won four in a row. cincinnati has lost two straight for the first time in more than two years. both these teams are 8-2. here are the game balls. carson palmer gets one. the game started slowly for him. threw a couple of picks early but winds up better than 300 yards and 4 touchdowns. rookie j.j. nelson makes four catches and they were all productive. deone bucannon. we'll also give a game ball to patrick peterson who did a good job on a.j. green but he's left out of the interview process because, after all, we'd like to clear out of here before midnight at least local time. so here's michele. >> michele: carson, congratulations. it was another, you know, nail-biter. on that final drive, the connections with larry. take us through that. what happened? >> well, you know, if there's

those brands of volkswagen with larger diesel engines. volkswagen's fighting this one. so even that is a headache for wv boss matthias muller. he replaced the previous head. he formerly ran porsche. so these charges hit home. as you can imagine, volkswagen stock not faring too well today, down as much as 9%. the whole value of the company, one of the biggest car companies in the world, has been shaved 1/3 in just this year alone. as for customer trust, we have no figures on that but that is down as well. back to you. jenna: interesting point, greg, thank you very much. jon? jon: there are new developments in the case of a massachusetts teenager accused in the brutal murder of his math teacher. phillip chisholm back in court today after the judge order ad psychological valuation to determine whether he's competent to stand trial. >>> new concerns that a relief money u.s. is sending abroad might be actually falling into the hands of isis. what the u.s. is trying to do about it. >>> plus we want to hear from you. we'll be talking about the off-year elections a little later

it was the former porsche ceo who has been brought over now as the volkswagen ceo.ise questions about the management. we've heard reactions from members of the u.s. house of representatives who had been looking into the case. it may call into questions some of the statements he made. up until now, volkswagen has clarified it was only about 11 million vehicles impacted and now here we are with a new allegation suggesting 10,000 additional cars could be impacted. amy, back to you. >> a lot of trouble at that company. nancy, thank you. >>> time now for some sports and we begin with monday night football between the undefeated panthers and the struggling indianapolis colts to a rain soaked carolina. first quarter, carolina up three and john stewart rumbles into the end zone to put the panthers up. in the second half, protesting fans repelling from the bank of america's second deck to hang a banger. check this out. they were eventually arrested and the charlotte observer reporting their effort had to do with a fracking project financed by bank of america. >>> back to the

volkswagen postgame report final score 34-31 cardinals. >>> welcome to the volkswagen passat post game report. here now bob costas. >> another good one on sunday night. arizona wins it. virtually a last-second field goal. 34-31. they won four in a row. cincinnati has lost two straight for the first time in more than two years. both these teams are 8-2. here are the game balls. carson palmer gets one. the game started slowly for him. threw a couple of picks early but winds up better than 300 yards and 4 touchdowns. catches and they were all productive. deone bucannon. we'll also give a game ball to patrick peterson who did a good job on a.j. green but he's left out of the interview process because, after all, we'd like to clear out of here before midnight at least local time. so here's michele. >> michele: carson, congratulations. it was another, you know, nail-biter. on that final drive, the connections with larry. take us through that. what happened? >> well, you know, if there's a guy you're going to pick out and throw to when it counts, i think he's the one. he just did a great job

volkswagen postgame report coming up next. final score 34-31 cardinals. >>> welcome to the volkswagen passat post game report. here now bob costas. >> another good one on sunday night. arizona wins it. virtually a last-second field goal. 34-31. they won four in a row. cincinnati has lost two straight for the first time in more than two years. both these teams are 8-2. here are the game balls. carson palmer gets one. the game started slowly for him. threw a couple of picks early but winds up better than 300 yards and 4 touchdowns. rookie j.j. nelson makes four catches and they were all productive. deone bucannon. we'll also give a game ball to patrick peterson who did a good job on a.j. green but he's left out of the interview process because, after all, we'd like to clear out of here before midnight at least local time. so here's michele. >> michele: carson, congratulations. it was another, you know, nail-biter. on that final drive, the connections with larry. take us through that. what happened? >> well, you know, if there's

volkswagen postgame report coming up next. final score 34-31 cardinals. >>> welcome to the volkswagen passat post game report. here now bob costas. >> another good one on sunday night. arizona wins it. virtually a last-second field goal. 34-31. they won four in a row. cincinnati has lost two straight for the first time in more than two years. both these teams are 8-2. here are the game balls. carson palmer gets one. the game started slowly for him. threw a couple of picks early but winds up better than 300 yards and 4 touchdowns. rookie j.j. nelson makes four catches and they were all productive. deone bucannon. we'll also give a game ball to patrick peterson who did a good job on a.j. green but he's left out of the interview process because, after all, we'd like to clear out of here before midnight at least local time. so here's michele. >> michele: carson, congratulations. it was another, you know, nail-biter. on that final drive, the connections with larry. take us through that. what happened? >> well, you know, if there's

the volkswagen scandal is becoming the gusher that cannot be cap. it sounds a lot like bp and we will have the latest. facebook set to report its latest quarter after the bell. what is concerning investors this time around. we will have the preview. ♪ welcome back. it is time now for the bloomberg business flash. companies added 182,000 workers in october. the latest report from adp research institute signals a steady improvement in the u.s. job market. $90,000 -- 90,000 rise by 37,000ls may climb workers last month. the u.s. trade gap shrieking in september to a seven envelope. the deficit decreasing 50% of 40.8 billion here the august number was revised from 48 billion as demand from petroleum produced abroad fell to its lowest level in more than a decade while exports climbed. count steve jobs among those curious about what an apple car would look like. not too long after the apple cofounder introduced the iphone, jobs was considering the possibility of much bigger gadgets. that is according to the senior vice president at apple. that is from his

volkswagen postgame report >>> welcome to the volkswagen passat post game report. here now bob costas. >> another good one on sunday night. arizona wins it. virtually a last-second field goal. 34-31. they won four in a row. cincinnati has lost two straight for the first time in more than two years. both these teams are 8-2. here are the game balls. carson palmer gets one. the game started slowly for him.s ea y but winds up better than 300 yardanto4 catches and they were all . on we'll also give a game ball to patrick peterson who did a good job on.j. een at he's out of the interview process clear out ofe er midnight at least local time. nal drive, the connections with larry. take us through that. wh appene he just did a great job getting open. his number happened to be called on those and the coverage dictat theedall went his way. made great plays. >> very different halves. bruce arians told me you were ng t push some thcond.alf not so m c >> just settled down, really. i just made two really stupid plays. just kind of got the jitters out and we caught fire the seco

volkswagen postgame report final score 34-31 cardinals. >>> welcome to the volkswagen passat post game report. here now bob costas. >> another good one on sunday night. arizona wins it. virtually a last-second field goal. -31. they won four in a row. cincinnati has lost two straight for the first time in more than two years. both these teams are 8-2. here are the game balls. carson palmer gets one. the game started slowly for him. threw a couple of picks early but winds upupetter than 300 yards and 4 touchdowns. rookie j.j. nelson makes four catches and they were all productive. deone bucannon. we'll also give a game ball to patrick peterson who did a good job on a.j. green but he's left out of the interview process because, after all, we'd like to clear out of h%xe before midnight at least local time. so here's michele. >> michele: carson, congratulations. it was another, you know, nail-biter. on that final drive, the connections with larry. take us through that. what happened? >> well, you know, if there's a guy you're going to pick out and throw to when it counts, i think he's the o

volkswagen says they will work to clarify it.orth america said they would suspend the sales of their vehicles. we still don't have clarity. dueling accounts. anna: hans nichols with that new twist. guy: nigel, we have the story, they are going to be raising a lot of debt. the world is awash in debt. more and more, you talked about the need to develop an equity culture. impetus come from for that to happen? notything i read says it is . nigel: a lot of these mature merging together as they run out of growth options. that is why we have an amazing energy in startups in the u.k.. we just don't have capital behind them. 55% of startups have been financed by credit card. how absurd is that? we have to change where they come into the economy. give some of the tax advantages back to equity. theting of course with still packs. that is going to happen is more qe. it was designed for the rich iv rich. it is a driver of global inequality. we have to create real jobs outside of london. real wages. modern skills. there is wonderful technology

volkswagen has been caught cheating for a second time on emission tests. now luxury vehicles like porsche and audi are added. volkswagen installed software to defeat emission tests on models with larger 6 cylinder engines, that includes another 10,000 vehicles. volkswagen admitted to cheating on 4 cylinder engines, about a half million of those were sold in the u.s. >>> it's 5:47. happening today a service on the campus of oklahoma state university will honor the four people killed when a car crashed into a crowd of spectators at a homecoming parade last month. organizers say the service also will celebrate the first responders who saved lives and the strength of the community. the driver faces four counts of second-degree murder. >>> a man who killed a morth and her three children while street racing is headed to prison. >> yesterday a judge sentenced khusen akhmedov to between 17 to 34 years in prison. he ran over samarra banks and three of her sons as they were trying to cross roosevelt boulevard. a fourth child survived the accident. the other driver i

coming up in a week or so we have breaking news on volkswagen.il lebeau has details for us. >> volkswagen appears to be disputing some of the allegations that came from the epa about two hours ago when the epa announced there are a total of 10,000 weeks in the united states that according to the epa are in violation of emissions standards and we listened in on the epa conference call and we very clearly heard the epa administrator say there were defeat devices on these vehicles that were tested. voluntarily, wag season out with a statement that says it wishes to emphasize no software has been installed in the 3 liter v-6 diesel power units to alter characteristics in a forbidden manner t goes on to say volkswagen hopes to talk with the epa to clarify this matter. appears to be a dispute about whether or not there were defeat devices on these vehicles. again, the epa says 10,000 more vehicles in the u.s. do have violations of emissions standards and that was the announcement earlier today. now you hear volkswagen disputing it. >> because if it was

the ceo of volkswagen made some announcements regarding the diesel emissions a scandal there.ed and said the company is working with california's air resources board as well as the environmental protection agency to come up with long-term solutions. also talked about the gift card program for affected car owners. last week volkswagen announced it was offering a $500 gift card and a $500 dealership credit to people who own cars involved in the scandal. >> many of of our customers worried about obviously, their vehicles. and we are committed to do what's necessary. this is just another step on the process while we work on the remedies that satisfy our customers and the government. >> the company is also offering those customers three years of free roadside assistance. in the meantime, automakers at the l.a. auto show unveiled some of the newest cars to hit the market. automakers like honda, jaguar and hyundai displayed in their 2016 and even some 2017 model vehicles vehicles. >> that's cute. >> like that? >> yes. >> the vehicles got a lot of attention. they include ford's redesi

regulators say there's evidence more cars built by volkswagen were rigged to deceive season emissions tests. audi and porsche are in the spotlight as well. >>> last september the u.s. regulator said they discovered half a million v.w.s and aldis had been fitted with illegal software, software that fooled testers into fooling testers that they met the limits of emission tests the the cars were releasing nine times or more of the fog-releasing gas. >> 10,000, 3.0 litre models, including the 2016 forces were equipped with the devices. volkswagen was accused of failing to disclose as legally required, that the cars were fitted with additional control devices. >> it's unfortunate, because it's now spread to the audi and porcha brands, which is making the scandal look more widespread and more philosophical as opposed to economic, when it was on the low-priced cars, it looked like it was cost-cutting, now it's looking like a decision, the leaders of the company. >> the environmental protection agency added: the regulators say they planted test, light duty vehicles. before the latest disclosu

for volkswagen, this is a problem. are going to face fines from the epa on the first batch of cars, is to 500,000 vehicles. i would suspect that volkswagen wants to work very closely with the epa to mitigate whatever those charges maybe -- may be. and other future charges in the state and other venues. guy: thank you indeed. hans nichols running us through the bmw numbers, which look pretty good. forecast --ming its reaffirming its forecast, maybe towards the upper end of that. the auto sector has been badly affected by china if you look at companies like bmw. it has been really affected by that. it is a low point in the product cycle. what do the european alsos look like now? >> you are right about china. more detail, any kind of future sales, a great barometer for what is happening. that is what we're looking for, consumption. p/e of 10 and a yield of 3, that is why we are bullish on european equities. looks like a good value. missing,u.s. companies a bit of a currency impact. a good example of why we are positive eu

how big a customer is volkswagen to you?t impact do you perceive the volkswagen scandal having for ontinental in the medium term? wolfgang: well, volkswagen is one of our big five customers. i mean, we're one of the biggest automotive suppliers in the world and volkswagen is one of the biggest car producers in the world. no wonder with have an intensive business together. the actual numbers, we don't see a bigger impact on the call of not only of volkswagen but of all diesel engines where we supply parts to. it is stable basically on the level we've seen as well eight weeks ago. long-term influence, obviously still a little bit too early to predict on the diesel engine market. might be some tailwind for some further components in the diesel like after exhaust treatment which could probably even be helpful in the next three to five years for our top line. manus: mr. schaeffer, we wish you well and the c.e.o. for continental, wolfgang schaeffr from hanover from germany. from automobiles to airlines, the most important space ev

volkswagen is showing signs that people are thinking twice before they buy a volkswagen car because theyre not sure about what is going on with the emissions issue. numbers are registration numbers and they don't really tell you about prices or profits. the registration that may have been offered, how much of that was from price cuts? >> it is hard to determine. be done byuts will dealers in particular countries. we saw evidence in germany that volkswagen widened their discounting. a few years ago we noticed that those companies which were discounting the most were not being held particularly by the discounts. they were among those which fell the most. it is hard to say, but it is probably unlikely that price cuts are going to stave off a downturn. jon: you dig through the numbers in the past couple of hours. as you look at things, which market is behind the overall growth? >> can use it again? -- can you say that again? look at the overall markets, which are the dominant drivers of growth? >> germany continued to grow, france grew as well. continuing to be grow because there is an incen

the e-p-a says the german automaker installed software to defeat emissions tests in the 2014 volkswagen touareg, the 2015 porsche cayenne and some 2016 audi the e-p-a says volkswagen programmed the vehicles so they give off as much as nine times more nitrogen oxide pollution while being driven than they do during the tests. poll watchers represent candidates and parties to observe voting and ballot counting operations on election days. but what does iowa law say about poll watchers representing write-in candidates? find out next on your 24 hour news source, kcrg t-v nine. some polling places in johnson county during tomorrow's city elections. they'll try to make sure "poll watchers" are following state law. kcrg t-v nine's brady smith spoke with the johnson county auditor this afternoon now. brady, what's the concern about the poll watchers? let's say i'm running for city council, and i want someone at a polling location on my behalf making sure the people voting there are eligible and that ballots are getting filled out correctly...th at could mean the difference between winning and lo

can volkswagen ever get out of its own way? after this. >>> and the latest as well on chipotle and how it's dealing with the e.coli mess, signs that there are more cases and signs that there are more restaurants. stick around, you're watching fox business. . neil: all right, just when you think you couldn't get worse on the whole e.coli cases popping up all over the country, ashley webster with more signs, more popping up all over the country. >> not great news, 37 cases regarding the e.coli outbreak in the pacific northwest. 12 of those people are now in the hospital. chipotle has closed 43 restaurants in the area. it has remained that way since early last week when we found out that these cases were coming to light. by the way, this is the third outbreak for chipotle, with regard to these cases, of course, we just have the latest one with the e.coli, in september, there was a salmonella outbreak reported in minnesota that at least 45 cases were reported there, and then in august, 99 people got sick in a norovirus outbreak at

volkswagen already admitted to cheating tests on millions of four cylinder engines. about a half million were sold in the united states. >> more controversy around the key stone exelpipe line. the company hind the pipe line asked the u.s. government to temporarily suspend its application. the company is currently undergoing a dispute with nebraska over a preferred route in the state and doesn't want it to interfere with the approval process. it comes as the obama administration is widely expected to reject the pipeline permit application before the president leaves office. >> the restaurant chain sha poetly is facing its first lawsuit in the aftermath of an e. coli outbreak that shut down restaurants. health officials say 22 people are being treated for e. coli and they expect that number to rise. a washington state woman is suing now claiming she came down with an e. coli infection after eating a burrito bowl. health officials are trying to track down the exact source of the outbreak in terms of which ingredient. they connected to the six restaurants. >> the product

>> al: as usual volkswagen postgame follows. bob, tony and mike breaking it down. a look to thursday night in green bay. first things first. first and ten. 37 yard line. cards 18 straight gains. they've won with a -- make it 28. longest current streak in the league. they keep that one rolling. bernard gets away. he's inside the 40. and to the 32 yard line. and already cincinnati in field goal range but thinking about a lot more right now. >> cris: good shake and bake right there by giovani bernard, one on one against kevin minter. minter can get him coming out when he has to block him. but the other side, equally a mismatch. giovani bernard. you just wonder are they going to start thinking about too many blitzes. >> al: 30 yard gain. dalton goes over 300 yards. on the sideline intended for green. recovered there by bethel. second down. nugent keeping warm on the sideline. >> cris: mike nugent's not been one of the most consistent kickers. any more if your not over 0.500 you're not any good. >> al: peterson just can't get back in. second down and ten at the 33. game

the german car maker volkswagen has admitted installing software in 11 million cars around the world in order to evade diesel testing. let's get more from al jazeera april tom awrkman, how much more can you tell us? >> this investigation says they detected at least 10,000 additional vehicles dated from 2014 models up to this year's audi models which were equipped with these defeat devices. these are these devices that trick the emissions detectors into thinking that they meet pollution standards, emission standards when in fact they defeat them by 9 times the level. this is not just a problem with models in years past, they have not estimated the number of awdf audis, compared with nearly half aing m million cars that were deemed to be equipped with these defeat devices in the admission of volkswagen. that is determined to be bad news in the campaign in the united states and up to eight million recalls. >> you say thomas more bad news, how is this likely to impact volkswagen's precarious financial position? >> just last week they announced their first quarterly operating loss in more

bob lutz saying that volkswagen was under a reign of terror.will join us next when "squawk on the street" comings right back. awe believe active management can protect capital long term. active management can tap global insights. active management can seek to outperform. that's the power of active management. >>> volkswagen stock losing another 10% this week. vw halting u.s. sales after initially rebutting allegations from the epa they, too, contain cheating software. admitting that it sold 800,000 cars in europe that misstate their consumption. joining us is bob lutz. bob, what has caused this in your view? what's wrong with volkswagen? >> i think it's a cultural thing. i think under the reign it was very much an authoritarian environment where the message was always my way or the highway. people were fearful about telling the boss that something couldn't be done. and if you tell people you get it done or i'll have your job, you know, people will find a way. even if they have to cheat. >> what do you feel about it? >> well, i'm basically sadde

plus...more major recalls for mercedes and volkswagen. david asman has today's fox business report. 3 another day, another round of recalls.mercedes calling back more than 120-thousand cars and suvs.some air bags are going off without a crash, while some won't inflate during a crash.and volkswagen recalling more than 90- thousand vehicles to fix a problem that could cause the power-assisted brakes to fail. the recall covering several makes from 2015 and 2016.and how low can gas prices go?the national average for a gallon of regular now around $2.20. but get this... drivers in 41 states can find at least one station selling gas for less than $2 per gallon.meantime. a company tracking private-sector employment were created in october... that's fewer that the prior month.this coming ahead of the government's employment report, due out friday.and eating lunch... doesn't come cheap!according to new survey, americans saying on average they spend more than $2,700 a year just on lunch! that's a look at business. i'm david asman. 3 3 coming up aft

. >> cheryl: volkswagen stepping up efforts, 1200 in cash to diesel car owners, plans to issue two debit cards, a cash card worth $500 and 550 linked to purchased at vw. owners taking compensation for the decrease resale value and audi vehicle that is were equipped with illegal software. >> nicole: indeed. all right. there's a deal in the timber industry warehouse buying for $8.4 billion in stock. largest timber, land and forest company in the united states. the company will keep name and more than 13 million acres of timberland. it will buy two and a half billion dollars of stock after the deal closes. >> cheryl: good old merger monday to kick things off. the action there overnight. first let's start with asia. asia markets shanghai and nikkei actually strong performance. >> nicole: ftse ftse up and dax down 11. one tenth of 1%. >> cheryl: here in the u.s. monday morning. here is what u.s. market stock futures look like. dow pointing low by 33 points this morning, s&p pointing lower by 4 and three quarters in the premarket. >> nicole: let's look at gold. we see up arrows. oil up and gol