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

it comes as the volkswagen group announce a new leader. is unlikely to face authorities in the u.s.germany does not extradite them. rachel: a new designed to increase competitiveness. been dubbed the macron laws. it is aimed at helping small companies grow. it would pave the way for the government to privatize state owned businesses to raise funds for new projects. we have the details. >> a two-month delay. france ministry pushing ahead is ink of the role in the economy. on the table, privatization of adp and gaining monopolies. financingconomy and minister said some of the rates -- of fufunds raised will go to immigratation funds. the e energy group has a a program for renewable enenergy. we will check our sovereignty and make sure we are a leader in in -- innovation. >> the government trying to lower its stake to under 50%, under voting rights to 33%, as well as privatize the company. this should bring in around $15 and -- 15 billion euros. this will make setting up a business easier and stronger checks on foreign investment. it goes to parliament in september. they made their pre

volkswagen. increased group has criticism that jeff bezos became the richest man on the backs of low paid workersdentified the concerns and is addressing them. that is your business flash. francine: thank you. emerging markets had a rocket -- rocky market. tomorrow, we hear from argentina's central bank after the country secured a $50 million credit line. charles kantor and . ♪oomberg surveillance -- drew matus and dambisa moyo. that mean we can continue growing from here. i would say your less optimistic that some. dambisa moyo: i am less optimistic. the reason i talk about returns declining because we have structures that have not been addressed. the u.s. has been harping on debts and deficits that will come to mind over the next 30 years and we need to address that. the cost of capital is quite meaningful. we have to recognize that policy has been incredibly supportive for the kinds of record-breaking numbers we have seen in the stock market. there's a will question in the world of proionism, not protections of goods and services and the movement of people and whether we will need economic gro

group? >> that is the big question here, since so far, volkswagen's defense line was that the cheating on theseically been restricted to a pretty small group of rogue engineers. they have always pushed their cars -- their cards when planes had surfaced, and with the arrest of one of his high-profile executives, and itrge from was 10 years, really does seem to paint a very different picture from what the folks are -- what doesn't mean for the investigation as a whole? >> this deftly puts volkswagen in a difficult situation. it definitely 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 potentia

consumers warning against new tariffs on imported cars, that group represents gm, toyota, volkswagennd other carmakers plan to file a petition with the commerce department. >>> speaking of global trade, let's move from automobiles to semiconductors because chinese firms are upping the ante to prove they don't need to steal u.s. techny. we're live in beijing with more. >> reporter: thanks so much, brian. zte is reliance on american components has been a wake-up call for here that china needs to develop its own chip industry this week we spoke with a chinese start-up that managed to do just that china has waited a long time for this moment. a chinese start-up is unveiling a chip that's entirely designed and made in this compauntry. its founders say they're not monkeying around china has made it a priority to develop home-grown technology. at the top is chips. they founded the company in 2014 both studied overseas and work at e-commerce company alibaba. he said the chip significantly improves voice recognition, so people can talk to their devices better and at a much cheaper price than

it's interesting to point out that he sits on volkswagen's supervisory board, holding a lot of sway within the groupthat level. volkswagen has taken the narrative back a little bit. there 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 parti

group or is going to be staff from audi but the fact is these engines are all volkswagen engine so someone 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

volkswagen jetta. we danced in a german dance group. i wore lederhosen.man.really surprised that i wasn't finding all of these germans in my tree. i decided to have my dna tested through ancestry dna. the big surprise was we're not german at all. 52% of my dna comes from scotland and ireland. so, i traded in my lederhosen for a kilt. ancestry has many paths to discovering your story. get started for free at ancestry.com. ♪ (father) i remember the day you looked at me and asked, "what now, dad?" so, i told you the same thing i was told "now you find a job, any job, and work hard. "clock in, clock out. do it again and again. "you may not like it, but that's work. that's just how it is." but of course, you didn't listen. you showed me there's another way. and i hope one day, when your own kids ask "what now?", you tell them to do something they're passionate about. i'm proud of you. ♪ >>> down the street from the pearly gates at spelman and the manicured lawns of morehouse you'll find a much different sight. morris brown college, the first institution of higher

an auto trade group representing the likes of general motors, toyota and volkswagen and others says that the 25% tariff on car imports to the u.s. could cost u.s. consumers $45 billion a year. the alliance of automobile manufacturers says that the tariff would essentially wipe out the tax cuts costing an additional $5,800 per car for an imported vehicle in the u.s. >>> some red flags on the u.s. economy! the commerce department said durable goods fell due to big decline in new car and truck orders since 2015. others areas saw declines in business investment down for the second straight month. >>> the stock market building upon yesterday's gains. let's check it. the dow is up by 90. nasdaq up 28. s&p up 10. another good day fournette flicks. it's up 3%. back to you. >> thank you. >>> some new research shows your car's infotainment system is taking too much attention away from the roads. according to aaa, distracted driving is responsible for about 390,000 injuries a year and about 3500 deaths in the u.s. >> i would recommend that the driver program those navigation systems before they sta

volkswagen. we welcome you quickly inside the moscow studio here. day 14 began with mexico. on top of group f. germany was in second. a major shake-up today. sweden goes from third to first. mexico for the seventh straight world cup, they head back to the round of germany's streak of advancing from the group stage at every world cup since 1954 is ove this is why you must watch every single game from this world cup. i think you nailed it. this is shaping up to the best world cup in t history of this tournament. you want reality tv? here's the reality tv. >> show me the person that predicted this. show yourself. i want to see the person that prediblgt predicted this kind of stuff. every day providing the drama and the entertainment. i mean, in our studio, around the world, here at red square, everybody riveted, glued tohe television set watching going back and forth between the two games. goals in and out, var, everything. wonderful! >> two games into the day. wait until -- wait until later tonight and we have two spots up for grabs. from the other group, brazil's still in action later. but the

volkswagen. we weome you quickly iide the mos studio here. day 14 began with mexico. on top of group f. germany was in second. a major shake-up today. sweden goes f third to first. mexico for the seventh straight world cup,ba they head to the round of 16. ermany's streak of advancing from the group stage at every world cup since 1954 is over. this is why you must watch every single game from this world cup. i think you nailed it. this is shaping up to be the best world cup in the history of this tournament. here's the reality tv. >> show me the person that predicted this. show yourself. i want to see the person that prediblgt edicted this kind of stuff. every day providing the drama and the entertainment. i mean, in our sdio, around the world, here at red square, everybody riveted, glued to the television sethi wng going back and forthhe between t two games. goin and out, var, everything. wonderntl! >> two gamo the day. tunhtnd w h ave twoer l spatotsp for grabs. still in action later.brazil's but the big story here, clarence, mexico and sweden. give sweden a ton of credit. they set a t

so far, volkswagen's defense line was that the cheating on the diesel emissions has been restricted to a pretty small groupe 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 hope we can meet on t

alliance of automobile manufacturers warning against new tariffs on imported cars the group which represents gm, toyota, volkswagene with the commerce department later this week joining us now autonation ceo and chairman mike jackson. hi, mike >> michelle, how are you this morning? good to see you. >> good to see you i assume you do not like the tariffs on imported vehicles to the united states. >> first let me state, michelle, i'm in your camp for free trade and i'm for fair trade i congratulate the administration for taking on china. i prefer to see the administration forming alliances with our friends around the world in that challenge, but it seems to me like we're going to take on the whole world at the same time on trade so if i look at the president's performance in south carolina, it struck me as one of those fact-free riffs that just makes your head hurt so let's review the score card on the threat of tariffs on bmw while he's in south carolina so bmw produces more vehicles in the united states than it sells. let me repeat that bmw produces 400,000 vehicles in south carolina than it sells i the united sta

groups that will warring. catherine wanderer reporting on the south sudanese peace agreement thank you so very much. and next up i'm going to hand you over to danielle with a story on a volkswagen which is boosting its presence in east africa that's right it's a relatively small investment but i significant one folks fogging has opened a new factory in rwanda that's the sole v.w. facility on the continent following in the tire tracks of south africa nigeria and kenya but the german comic came to rwanda not simply to make cars but to try out a new strategy in cautionary and wide heading services as well. as some finishing touches just before president paul could gammy arrive to launch the first ever car made in rwanda or at least assembled here with parts from south africa. creating to me to industry is something that we want to be and this shows that a global brand like you can actually find the right conditions to be able to assemble k.m.'s it's very historic for us and i'm very excited about that for expansion plans to build up to five thousand cars annually in rwanda creating a brand new jobs the twenty million dollar investment as part of the german carmakers expansion into

a group of english fans keep the global feel of the world cup at home watching games with supporters from each country in the competition. the football party trial. fifty year old volkswagen beetle has been driven by. his friend from brazil and other news iran warms it's on the brink of accepting the hard won nuclear deal that it struck with western powers describing the accord is in intensive care after the us pulled out. and getting meaner over maims push for tougher copyright laws in the e.u. threatens to completely change the way we communicate on the internet. with us this friday on headline news on the way a little later plus three very different world cup fixtures ahead of us on day nine . first off in about an hour favorites brazil go up against toronto outsiders costa rica and right now fans are filling some petersburg stadium. yeah. really. our correspondent is here ali as they will catch up with him for a preview in a few minutes from now later on nigeria in iceland a set for a great day class that's going to be at six pm moscow time and their first games isom nice to draw with argentina and nigeria lost to croatia a both teams still have a chance to make it th