logo on our jersey and the connection to volkswagen helps make them vote sports fans and. it's less than a three hour drive from the offices in beijing to the coastal city of king kong. for both spur of the city is a set of piece of it's expanding business activities. and . these young people are enrolled at the state football academy which belongs to beijing sports university. two hundred talented young football players from across the country live and train here but some were discovered during training auditions others submitted applications on line. the criteria used by the scouts aren't entirely clear but the academy has brought in fourteen coaches from all over the world to foster the talent here the academy has appointed both sport to oversee the project. everything is running according to plan there's only one point of disagreement with the coaches from germany booker the mayor of oakland others i'm say there are no problems with the coaches i have a lot of fun with them. the only disagreement is about whether the young people should train mole. things they've done

he also has a photo of president xi jinping with former volkswagen c.e.o. my. this was was a huge stroke of luck for us. during his visit in germany there was a match between a blood sport used team and the chinese used and he really is a big football fan. even looking toward china in its own stadium in germany it's the only german club that shows perimeter advertising intended for chinese viewers to. watch. in a tape off pretty quickly. the first year we had to pinch the concept foreign partners and all that. but then thankfully it started paying for itself and to what's it going to get. in the football partnership between germany and china billions of euros are at stake and so is politics. but what about football will steffen lot of men and other professional german footballers succeed in helping china one day when the world cup. oh. not so maybe one day my great grandsons great grandson will say look what your great great great great grandfather kicked off it would take a while i think. but. it wouldn't be the first time china has pulled off the seemingly im

the partnership is showing its first signs of success at least for volkswagen and. at a televised speech president xi jinping gave to mark the new year there was a photo in the background of the chinese head of state together with young players from both sport. for sport executive team you are often uses that video to launch his marketing presentations having one of the world's most powerful leaders in its corner is a major coup for the club but. he also has a photo of president xi jinping with former volkswagen c.e.o. martin didn't according. to this resolution it was a fight for it's a huge stroke of luck for us. during his visit in germany there was a match between a ball sport used team and the chinese used to use really as a big football fan a spokesman. for his even looking toward china in its own stadium in germany it's the only german club that shows perimeter advertising intended for chinese viewers. it was. so that your. unit paid off pretty quickly. the first year we had to fix the concept foreign partners and all that but then thankfully it started payin

of audi one of the top people in the volkswagen group a confident of the porsche and ph family that owns the majority of the whole volkswagen family with over six hundred thousand employees two hundred billion euros and turnover and you know ever since the scandal started people here at the exchange where i'm standing have been asking themselves why not the top people they must have known and there was suspicion from the beginning also about rupert stolidly now it seems to be confirmed that at least the prosecutors have enough evidence to act on of course he's presumed guilty but people here see that it's a move that they've been expecting for a long time we told him of the mood. of the investors in frankfurt how the market where. the markets reacting by taking the v.w. share down didn't react sharply at the beginning but now the w. is in fact the biggest loser you know the minus is only three percent in this from a level which the volkswagen share had before the scandal broke and tanked right when the scandal broke but has since recovered because people still buy the cars and they're bu

fifty year old volkswagen has been driven. from brazil. and in other news iran warns it's on the brink of accepting the hard won nuclear deal with the struck back in two thousand and fifteen describing the cold as being in intensive care after the u.s. pulled out. happy with this is friday i had like news on the way a bit later plus three very different. football friday starts with one of the tournament favorites brazil taking on the underdogs of group costa rica. stadium the second half is about to get going with the game still goalless right now both sides of chances are still even have the ball in the net however. celebrations the strike. before the game. creating a real policy atmosphere. a good move. yeah . also in that group serbia will meet switzerland later today in kaliningrad a win that will see the serbian secure their place in the last sixteen of the tournament. is in group deep and it's a pity the tie starts at six pm moscow time both still have a chance to make it slim picked up a point in game one against argentina along nig

>> this deftly puts volkswagen in a difficult situation.nitely provides fresh ammunition for many investors that have sued volkswagen over might havehat they been too slow to form the overall market about the magnitude of cheating. arrest of thethe audi ceo is definitely a week set -- a setback for them. mark: paying fines to the tune not thenllion, can we say that the diesel crisis is behind bw? i know it is facing all sorts of investigations across the world as well. it putting the diesel crisis which erupted in 2015 behind it? seems the legal procedures all probably drag on for number of years still. the biggest potential financial risk seems to be investor investorsnd informing too late about the magnitude of the scandal, which might drag on for quite some time. financialerall damage, probably volkswagen has put the words behind it. cost ofdy paid out at a $26 billion, as i said. investment lawsuits might add to that. probably the worst in terms of at least financial damage seems to be behind it. mark: great stuff. i is stock of the our

he's not been in doubt a very long only since last september and he's been a volkswagen since twenty twelve so he knows volkswagen but he's possibly not involved in all that your long years long manipulation of diesel gate so that maybe speaks for him as being a relatively outsider but he's a competent manager solid career at mercedes benz before moving to the w i'm out of the teens late talking about the other my what happens next. and what how will that influence the ongoing emissions. i read a statement by the judge judicial authority is very and they say that the next stage for evaluating his prison term the custody length is in six months and we also hear that he's ready to talk that he's ready to talk with his lawyer being present to authorities and depending on how volkswagen out he treats and now he may be more ready to talk if he's treated kindly and he may be more ready to incriminate people if he's not treated kindly he's likely to know almost everything that went on he can hurt people personally and hurt the company financially if he does talk that will be very interestin

volkswagen has taken the narrative back a little bit.re was a cover story not too long ago talking about the moves they had made within their ranks. does this come as a surprise? how much longer do people feel like this will play out for volkswagen? time's not the first allegations against stadler have surfaced. it has been building over the past few months. so far, volkswagen has at every say of the way gone by to as long as there is no fresh evidence they are not inclined to remove him. operationally, like the cover story said, things have turned a corner for volkswagen and the company itself and aside from the ongoing legal troubles they have been on an upward trajectory and putting important factors in and doing quite well. jason: elizabeth, thank you. i want to go back to paul christopher. when you heard about that, how much did the ongoing scandal factor in, as you were talking to customers and thinking about how to price in such drama, shall we say? >> this particular case -- there was an issue a couple years ago -- but to reporte

from volkswagen in their engineering department is obviously not the only one's going to take the fall they've been trying to protect upper management because they're not the ones making the final decisions that we know of so this is going to be interesting as it all unfolds but the fact is they cheated diesel does work if you use what's called add blue which is an additive in the exhaust made of your rio and then it does make it better for the emissions for the environment however when you cheat the system you pay the price and this is the price that volkswagen and all of their subsidiaries are going to pay more and do you think that diesel autos not the truck fleets but do you think that we're really you know moving beyond diesel into regular gasoline or are they still going to be around. no diesel is still here as a matter of fact jaguar land rover is a full line up of diesel products and i'm actually testing a jaguar f. pace diesel right now which i totally love general motors has got a full lineup of diesels coming in mazda's got diesel coming in. got diesel coming in so and diese

you like the stocks of daimler, bmw, and volkswagen? it is generally tough because at the moment, we have all these trade roadblocks and uncertainties, we have e.m. weaknesses, currencies moving around, so the macro environment is quite tough. that is why we prefer strong equity stories. we like volkswagen for the turnaround, i expect a lot from the new ceo. that is my preferred stock out there. vw. bmw is in a bit of a holding pattern. they had good product momentum, but i want to see that coming through. daimler is at the peak of its mercedes product range. a truck line is holding up knife -- nicely. , volkswagen, then daimler, them bmw. mark: is bmw over the reputational damage? does dime take a reputational damage hit from this and what lessons can be discerned from vw? ardt: vw is beyond the big reputational -- they are selling record numbers, so consumers trust all of the vw brands. temporarily, daimler is in the naughty corner, but the market will get over that. consumers are very loyal to their brands. the quality of mercedes ca

styled lawyers the highest level executive at volkswagen to have been arrested since the scandal erupted but he may not be the last for now the supervisory board out his parent company volkswagen has appointed head of sales and marketing bram short as interim c.e.o. . google is set to invest five hundred fifty million dollars in chinese online sales giant j.d. dot com making it the latest us company to dive into asia's growing e-commerce. the deal c.j.d. dot com products displayed on google shopping service and could help the chinese companies spread beyond southeast asia to markets in europe and the u.s. for google the deal is also an attempt to challenge the dominance of online sales giant amazon. their buses warned it might leave the u.k. britain leaves the single market and customs union without a transition deal is the european aviation group strongest warning yes over the impact of a no deal breakers that airbus employs about fourteen thousand people at twenty five different sites in newquay britain is jewish will leave the e.u. on march twenty nine next year. for the second time i

fifty year old volkswagen beetle has been driven by miss the friend from brazil. and other he's away for football a push for tougher copyright laws in the e.u. threatens to completely change the way the internet looks will tell you and tully in fashion giant benetton faces a backlash after using photographs of rescued migrants ties in campaign. hello good afternoon just after one of the afternoon the twenty second of june of moscow i'm kevin zero in this is our international of the great football coming up the world headlines two in the next half hour all ahead. and is football first aid to the world cup in russia sees all money as predictions in pro day come true for argentina last night dubbed the group of death the early favorites with

well they're worried as well no word today really from volkswagen itself but b.m.w. saying they're weighing strategic options what does that mean they're looking at the possibility of perhaps putting production that's now in the united states elsewhere so that cars that they make their don't get tariff they don't get levied in china and of course that should be a warning to u.s. politics especially the u.s. president. of car maker volvo is also worried it has a new factory in the united states and it says that if it doesn't pay off then there are jobs and danger and so there is a wave of concern going through the industry and it's all this concern also affected the market generally today and frankfurt and in europe and it's probably going to remain a concern considering the volume that's possibly at stake here well advance of frank thank you very much. bedridden greece has received around two hundred seventy four billion euros in three rounds of bailouts by the e.u. and the i.m.f. today eurozone finance ministers are discussing the terms of exit or greece's bailout p

this fifty year old volkswagen beetle has been driven by mr noah and his friend count from brazil that shuffled through half a dozen south american countries before getting his ship of the ocean to come here and enjoy the world cup now we're going to take me for a drive i'm going to ask him some questions about his journey. that's gone. when i was a little boy i asked my father to take me to the world cup in argentina which is pretty close to brazil and my father told me it was impossible to get to argentina in a beatle it was in my childhood ever since then i've dreamt about it a lot so when i was. forty i bought a new paedo and i started traveling all over america. in twenty fourteen when the world cup was in brazil brazil lost to germany one to seven then lost to the netherlands zero to three just one goal in two games i told my wife it was completely impossible for brazil to win the cup so i thought about going to russia in the beadle my wife said why not so we started preparing for this trip in two thousand and fourteen and here we are in russia in one thousand nine hundred sixty

the board of german car maker volkswagen has failed to come up with a new leader for its audi divisionboss, rupert stadler, was unexpectedly arrested over his role in an emissions cheating scandal that has spread from its core vw brand to its luxury audi division. fujifilm has sued the firm xerox for over $1 billion for breach of contract and estimated damages. the printer and photocopier company walked away from a planned merger earlier this year. the deal would have seen xerox merge its business with an asian joint venture. the company operates with fuji, handing fuji majority control. the auditing work of one of the world's big four accounting firms has been sharply criticised by the industry's watchdog in the uk. kpmg audits had shown an "unacceptable deterioration" and will be subject to closer supervision, the financial reporting council said. it added that all the big four, which also include pwc, ey and deloitte, needed to reverse a decline. that show you the markets once again. it has been pretty bad. that is the clothes in the united states late yesterday. the future looking

of the but he sits on the executive board of volkswagen itself so call responsible for all the major decisions and he's been in the know for many years through top positions at once he was chief or c.e.o. fighting on p.s. one when he was on board there at the top and you know it just confirms many people suspicions here that i've talked to over the years since the scandal broke that it couldn't have just been a few middle range engineers acting on their own and acting up know this had to go to the top this knowledge of course nothing is proven yet rupert stock was among those who must be assumed innocent until they are proven guilty but it sure doesn't look good in the share today went down quite remarkably and the share of all is still above the level it was before the scandal tank than it recovered so the shareholders not really lowering their thumbs but showing themselves shocked that this development. in spoke what is the mood like among workers that. to be honest well it's not very a friendly mood i've been trying to talk to any of the workers here for about an hour now and nobo

of audi volkswagen has to take consequences and remove him from that post he can't stay with but this development now not only i mean given given the way to all the german car industry when it comes to to the might of the german economy how are investors handling all this today. investors are handling it as one might assume they're there alarmed and the volkswagen share is going down it's going down further the further trading goes the further this news is sinking in and it's also going down because i'm liz also at issue so far it's not a freefall it's not a tumble but there are fears of course that this will this development will not only cost rupert stopper his jobs but will result perhaps in testimony that will incriminate other executives and will give the way to claims of damage or of being informed too late as a stockholder and this could cost v.w. for example further amounts of money perhaps lots of money it is a question to both of you perhaps i mean i mean korea certainly is at stake if we do see heads rolling would that solve the problem well i mean it really kind of depends

. >> bienvenidos a "viva el mundial y mÁs" presentado por volkswagen , volkswagen, sÚbete a la pasiÓn!!! gooooooooooooooooooooooool!!!!! gooooooooooooooooooooooool!!!!! quÉ pasÓ compadres,

for damages and volkswagen in-form too late and this guy is under investigation for this and he's also in charge of the cleanup investigation that doesn't to and people here also say that publish the reports with the evidence of who knew what who ordered what who did what and finally come clean because this cover up also with the charge of concealment against rupert styled law does not do the company any good and one has to know it also rubs off negatively on other car companies as well which really briefly say that investors are losing trust and indeed other means corporate governance. not while the they don't have a lot of trust in the corporate governance but there is how about these at the top he came in on the a few months before the scandal. broke is seen as a basically clean person and they are ready to believe that he intends to help the cleanup but there's the family portia ph who are behind people like start lower perch or venture clone and it's going to be a tough act to really regain festers and customers and employees confidence. is a friend frontier though it involves fol

i think it's a major blow for volkswagen for audi of course rupert stock has been in top positions there for years as c.e.o. before that he was finance chief and before that he was chief of the general secretary at that is chief of staff basically to the volkswagen c.e.o. so he's been in the know for years and years and the porsche ph family that basically owns the majority of volkswagen is very close to starter has prevented that with all the allegations that were already there up to this point that he was released from his post of course having said all that one has to presume also for rupert stopper that he is innocent until proven guilty in a court of law but it does not look good for him now with the prosecutors taking that step of actually arresting him for fear of danger of concealment that is perhaps the fear that he can influence others into not giving evidence that they should. it doesn't look good for him and for folks like in terms of the presumed innocent is that's how investors are seeing it how do they react. well i think they're saying he's guilty because the share is goi

presentado por volkswagen .

vonnie: volkswagen is our stock of the hour today. shares are hitting lows.since august of 2012. the diesel admitting's scandal strikes again. arrestedtheir ceo was in connection with the scandal. his house has been rated by authorities. it was thought he could tamper with evidence. he has yet to be charged. and our bloomberg print colleagues hearing the supervisory board will suspend salesd name their head of as interim ceo. this comes a few days after volkswagen agreed to pay $1.2 billion fine. we have a chart with that. beenllion cars have affected. $30 billion in market charges. the,000 per car to fix hardware needed. jail.your ceo is going to >> certainly he is the highest in thismanager ensnared since 2007. investors concerned to see someone this high profile arrested. he oversees the provision. biggestone of their earnings driver. generates the most profit. we are seeing analysts getting in saying this is serious. another low point in the scandal. is he told bloomberg it has been left in place for so long considering the allegations since the scandal f

. ♪ ♪ bienvenidos a "viva el mundial y mÁs" presentado por volkswagen volÚmen volkswagen sÚbete a la

so far, volkswagen's defense line was that the cheating on the diesel emissions has been restricted toy small group of rogue engineers and with the arrest of one of the most high-profile executives who has been in charge of audi for almost 10 years, that really does paint a different picture from what the volkswagen defense line has suggested. >> volvo is opening a new plant in south carolina to build a s60 sedan for all over the world, including back in china. given all that is going on in the world with trade, why south carolina? >> first of all, with all the nervousness, we are very glad we are here with the local factory. without that, we would be more worried about the future. we looked into various alternatives and we came to the conclusion that it is important for us to be local in the u.s. >> could china impose tariffs on you exporting cars back to china? >> it could very well be. right now, there are important -- import tariffs to china. i think it was a good move some weeks ago when they lowered that to 15 from 25. we believe in open trade and it should be in two ways, and i

volkswagen has admitted to cheating on u.s. emissions tests. >>> meantime, u.s.e survey company survey monkey says it has confidentially registered for an initial public offering with the fcc. the company says the number of shares to be offered in the price range have not yet been determined. the california-based company has around three million daily users. >>> and former mexico president vicente fox is joining the board of directors of the marijuana publication "high times." fox calls himself a soldier in the global campaign to legalize pot. fox says he perceives a day when a robust legal marijuana marketplace will produce new jobs and medicines while sharply reducing cartel violence in mexico. he also says he sees pot being part of the north american free trade agreement. >> very interesting. diane king hall at the new york stock exchange. thanks a lot. >>> still to come, speaking up for autism. a texas high school student surprises his classmates at their graduation ceremony. classmates at their graduation ceremony. fixodt ultra-max hold gives you the stronge

in a regulatory filing, volkswagen accepts the fine and assumes responsibility for its actions.he world cup is returning to the. soccer's governing body thief approved north america's joint bid to host the tournament in 2026. most of the games will be played in the u.s. with a handful in mexico and canada. the final game is scheduled for metlife stadium in new jersey. the north american bid promising fever a record $11 billion in profits. that is your business flash update. of news, lots of attention when it comes to the trade front between canada, mexico, and the u.s. right now. they can come together with some soccer. shery: president trump aggressively push for this to happen. keep in mind, the u.s. did not qualify for this year's world cup, so they will have to up their game. plenty more coming up, the fed dedes as well. this is bloomberg. ♪ jon: this is bloomberg markets. i'm jon ehrlichman. shery: i'm shery ahn. we are awaiting the fed decision was comes out in a few minutes. markets pricing in a rate rise. for more on what the markets are expecting, we have carl riccadonn

and china >> i think volkswagen will not be affected by this. they have production mainly in europe and/or in china there should be no immediate effect bmw has to face similar effect they produce more cars in the u.s. and export them to china compared to daimler. they will face negotiate sieve effect if it is a profit warning, one will have to see it's not just one effect the profit warning for daimler was also a combination of other smaller effects. there is always the question how much head room you have to your guidance but i think clearly they will be negatively effected. >> do you see this being a boost for domestic production of cars in china >> yes there's only one lesson you can learn from this, the safest way to operate is to produce locally what you sell locally. and as china is a very big market, it will definitely lead to stronger production also in china. >> tim, thank you very much for joining us that was tim schuldt talking to us about daimler european union tariffs on u.s. imports worth 2.8 billion euros will come into effect tom

shares of daimler, bmw, volkswagen are lower daimler lower by 4%. bmw by 3, and volkswagen down almost 2 % >> big moves in europe as we expect that policy decision from the bank of england. stocks in europe mixed right now. >> it goes to show you, we knew that autos would be a key battleground when it comes to trade tensions china, the u.s., europe, it doesn't matter now because it's a european automaker, just because they make the cars in south carolina, alabama, it will be an issue >> absolutely. >>> look at some other corporate stories. watching good rx, which is in talks to be bought several people saying a deal could fetch up to $3 billion it's not clear who would buy the company, but mckesson was possibly taking a look good rx did not return our request for comment. you can read more about this on cnbc.com. >>> we have analyst reaction pouring in after disney upped its bid for most of 21st century fox. that new offer tops a current bid from comcast, but media analyst rich greenfield doesn't expect comcast to back down. here's what he told the

munich prosecutors said monday that rupert stadler, who has worked for audi parent company volkswagen since 1990, had been detained because of concerns he could influence witnesses in an ongoing fraud investigation. stadler, 55, is the highest ranking volkswagen executive to be arrested in connection to a costly diesel emissions scandal that burst into public view in 2015. prosecutors said they have opened a criminal investigation into potential fraud by 20 current or former audi employees including stadler. the case is related to suspected emissions cheating in 240,000 diesel cars sold in the united states and europe. volkswagen spokesman nicolai laude confirmed that stadler had been arrested, but declined to comment on the investigation. he said the company's supervisory board would discuss the matter on monday. >> the world health organization announced a new classification of the disease. videogame addiction. the gaming addiction is characterized by several factors. impaired control over playing video games. an increase in priority given to playing games over other activities. in

fifty year old volkswagen beetle has been driven by missed the. call from brazil. in other news this morning a push for tougher copyright laws in the e.u. threatens to completely change the way the internet blogs. and italian fashion giant benetton faces a backlash after using photographs of rescued migrants and a number of times in campaign. hello good morning just after telling him friday the twenty second of judea in moscow. this is international great to have you with us that another big football to come on around to put the other world news stories to for the next hour. or. so day eight of the world cup in russia or see two you see in group c. and d. having their second matches. for one of the host cities of course and they've been through all the drama sensation of the tournament so far. will come to another we use a full. say she does but punish russia's. dog day for argentina. argentina fans trust me on this look away now step away from the t.v. come back in five minutes you do not want to know what happened to your team tonight's three argentina nil. the.

fifty year old volkswagen beetle has been driven by. his friend carl from brazil. and it will do so this morning a push for tougher copyright laws in the e.u. threatens to completely change the way the internet looks. italian fashion giant benetton faces a backlash after using a photograph of rescued migrants in an appetite. by the very good morning just after nine am friday the twenty second of june here in moscow you're watching out international with me kevin oh in the hot seat this morning great to have you with us now the big football to come and around the other world news stories that for the next half hour. or. so day eight of the world cup in russia seem teams in group c. and d. having their second. neil harvey pitt a small. one of the host cities and they've been through all that drama and some sation a cool little. welcome to another beautiful wife and i. say she just kind of rushes north. but a dark day for argentinian football fans trust me on this look away now step away from the t.v. come back in five minutes you. i do not want to know what happened