justice department investigation into vw's emissions rigging. iraq he may not have masterminded the cheating, but he kept his mouth shut about it for years. that according to the judge amounted to a serious crime. it is the firsrst convictionon a criminal profiler justice department into emissions rigging at vw. others are under investigation. the sentence was harsher than expected. he was likely spared the maximum term because he cooperated with authorities. the scandal broke in september of 2015 when it emerged the carmaker installed cheating software in 11 million diesel vehicles worldwide. since then, the company paid billions in fines but questions remain over who knew what and when. friday's verdict comes weeks after the former executive pleaded guilty to fraud and conspiracy. he is currently awaiting sentencing. someone else who is likely feeling the heat right now is this man, the former vw bus. he resigned over the scandal in 2015. but now reports have emerged he may have learned of emissions cheating earlier than previously disclosed.

american prosecutors have indicted five other vw staff.hey are in germany, which does not extradite its citizens. vw management in america must be feeling hot under the collar right now? >> what we see is the usual game of u.s. prosecutors. you try to make little birds catch the bigger ones. they came up with ridiculous charges, threatening oliver schmidt with the prison term of up to 169 years. if he pleads guilty it gives them more information to go after higher ranks in the volkswagen company, where that ends remains to be seen. many of the higher ranks do not live in the united states. they are probably in germany and will not be extradited. that is the game we see playing out between prosecutors and volkswagen employees. reporter: if i was him, i would be nervous, too. american unemployment at a 16 year low. what has been the market response? >> first of all, we had a very strong job reading. maybe the downside is that wages are not increasing that much. overall, since donald trump took over office, one million jobs got created. the g

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in short, vw's image and sales in the u.s. have taken a beating.he company read admits while trying to turn the page. >> volkswagon is a brand which has a basis here. everyone knows the microbus or the beetle from the old days. basically, people love volkswagon. from t told dold days. we made many mistakes. we try to make it right from start. development over the p i'm quite optimistic about this year and next year. >> reporter: volkswagon sales are down compared to 2015 when the diesel scandal erupted and the company was forced to stop selling some models for a brief period of time. now volkswagon is hoping to regain customers by rolling out a slew of new models, many with electric motors. phil lebeau, "nightly business report," chicago. >> i always wanted one of those minibuses. >> my first car was a beatle. >> i learned to drive on one. >> excellent. that does it for us tonight. i'm sue herera. thanks for joining us. >> i'm tyler mathisen. we'll see you back here tomorrow. >> i almost stabbed you with my this is a bbc is america. funding of this

in of lawsuits, some of them serious, racketeering charges, that they knew and assisted bw with this vw.h idea, itouched on this thought this was compelling about the company itself, they are at the intersection of many traditional engineering industries like vehicles, electronics, and the internet of things and connectivity. they want to do a lot with that. their big aspirations. are the scandals big enough to put that on hold? megan: it is a good question. when i look at bosch, having covered them for a long time in new york, they got ahead start on connectivity and looking at it holistically. there are a lot of german companies. was like that too. a car is being treated like an appliance. forefrontme is at the in implementing smart technology. they have a head start. they are sucha -- an engineering be him off. this is a reputational battle. they will sweat it out and they will settle and move on quickly. they have hugest rations of being -- they have huge aspirations of being like google. engineeringnal company competing with the true tech companies. this is the battle. we will see

so she thought he was on vw turns out he wasn't, but that's an example of a trained individual who was a bystander and made the decision to blow the whistle on someone in this case you happen to be or has been. they had planned to use to kill lots of people appeared he wanted to make a bigger/that killed 77 people a number of years earlier. so that is an example of a bystander. i will give one more example. october, 2014, canadian by the name of true below runs down with his car and kills one person, injures another. they were both canadian armed forces personnel, specifically targeting armed forces. one person died, one person was injured. 18 months before that event he had converted to islam. personality changed, stop wearing jeans, started wearing roads, started going to mosque frequently, decided he wanted to travel to syria. in june 2013, a couple months after his conversion, his father becomes concerned and notifies it already that his son might pose a threat. he has been time traveling to turkey. he can't go. and then come in the system tries to intervene, so besides his family

vw is not commenting.hrysler is doing little to stop speculation it may sell part of its portfolio. the italian-american automaker says it is regularly reviewing strategic proposals. chrysler is considering options, including spinning off two brands, and china's great wall motor expressed interest. in may be moving closer to a yield with technology. cancel a letter already posting presentations lines. bloomberg news reported that united has made an initial offer for rockwell collins. that is the latest bloomberg business flash. vonnie: fantastic. still ahead, we are keeping futures in focus. the fec did not like the idea of an etf moving bitcoin, but it may support an etf moving futures. we will explain next. this is bloomberg. ♪ mark: this is "bloomberg markets ." i'm mark barton in london. vonnie: from new york, i'm vonnie quinn. it is time now for our etf friday segment. that means julie hyman. julie: thank you.hopes of been revised for the first bitcoin etf after the fcc denied the previous application

of the 60s and 70s, making the 21st century come back, and what to expect from the new and improved vw> traffic will be okay if you're driving on 280 northbound, getting more crowded . >>> welcome back to mornings on 2. >>> the stocks coming back but looking to go much further into the red this morning with the dow jones down by x points, 21,668. the nasdaq and s&p 500 managing a little bit of a game. we have a lot of stocks to watch with familiar names in the business and we will talk about that in the next half hour. a new report looking into the benefit of having the commuter rail system and the bay area>>> the report showing rail service not only reducing congestion on the roads but also saving time for those traveling by train since they do not have to sit in the traffic. caltran operates between san francisco and san jose, one of the busiest commuter rail systems in the country and the number of people riding the service each year resulting 10,000 cars less on the roads. >>> tesla ceo elon musk is joining other experts that want the global ban on artificial intelligence saying it

the firm was set to work with vw come up with feasibility study showed disappointing returns to the corporationas an amicable split. they will leave the door open for working together in the future. the car sector may be the engine of the german economy, but it is not running wesley. -- smoothly. sarah: germans love their cars like dutch love their bikes, but revelations manufacturers fake to the emission levels of diesel engines have put a dent in consumer confidence, and the plans to resolve the problem have left a lot of people unconvinced. figures show how deep that distrust runs. >> it is a scandal that is by no means over. german politicians and car manufacturers have agreed to update the car software and 5 million diesel cars. they want to repair the industry's tarnished reputation. critics have warned the measures do not go far enough. there is uncertainty among consumers and german authorities are under pressure. next week they -- next month they elect a new parliament. this will be a major political topic in a country where the car industry and the environment are so incredibly import

the deal shifts psa europe to become the second biggest carmaker on the continent after vw.otors did on opel and the british brand vauxhall, but critics say it was neglected and has not made a profit for almost 20 years. and new york and our financial correspondent -- gm is still not doing well, even after the opel saga, is it? correspondent: we have weak july sales here on wall street and the general motors, dropping more than 15%, more than expected. to be fair, the u.s. car market was booming for years, but recently we got indication that this had pulled off a little bit, financing more difficult and there is a lot of debt with u.s. consumers. also, they are reducing the fleet sales. not just for general motors and for ford and chrysler, a big drop in the figures for july. daniel: and the president promised to make america build again with construction as one of his key platforms. it is not really working out, is it? jens: well, construction spending was down for the month of june. that is what we learned here on tuesday. especially when you look at government spending, t

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auto maker says the 60s inspired id bus will have 270- mile range, vw also says it will recharge the 80% within a half hour and be capable of ought ton mick driving. pretty groovy. >> i think they'll sell out. >> i think. >> really will. >> and i was just reading a article that says apparently volkswagon got the idea to bring it back, because so many millennials taking road trips, hashtag van lights. >> oh, yes. >> yes, millennials. >> good idea. and i can it can seat eight people. fun road trips. >> like one of those small houses, people end up living in them, hey, it is true, it is true. >> very groovy inch died, roxanna, thank you. >> everyone is wondering if the weather will cooperate for today's solar eclipse. >> so kate what i do you think how is the forecast looking? >> we are looking good. all a-okay, other than couple of patchy clouds throughout the course of the event. i think we've got sunshine and pretty good view for that eclipse. but there is some stormy weather that's going to make a return appearance to this forecast, i'll let you know when you will need that umbrella

he's the second former vw employee to admit his role in the scandal. us attorney general, jeff sessions, has announced a major drive against what he called an explosive increase in leaks of classified government information under president trump. four people have already been charged and mr sessions said he would not hesitate to order more prosecutions. here's our north america editor, jon sopel. donald j trump! donald trump is never happier than when he is out of washington. this is where he belongs. an adoring crowd in west virginia, the problems of russia, collusion, special counsels and grand juries a long way from these country roads. have you seen any russians in west virginia or ohio or pennsylvania? are there any russians here tonight? any russians? the russia story is a totalfabrication. it's just an excuse for the greatest loss in the history of american politics, that's all it is. he didn't mention the special counsel by name but had him in this sights when he said this. counsel by name but had him in this sights when he said thislj counsel

he is the second former vw employee to admit his role in the scam.lays at eu border controls. tighter security has been introduced within the passport free schengen zone following terror attacks in belgium and france. travellers are being urged to arrive at airports at least three hours before their flight. neymar has begun the most —— has become the most expensive footballer in the history of the game. he has completed his record $263 million tra nsfer completed his record $263 million transfer deal with paris saint—germain. he told the bbc his move from barcelona was for a new and did a challenge and not for the money. neymar, finally in paris with a ball and the world at his feet. at £200 million, his transfer from barcelona is a world record deal. and when his wages are included, the final bill will be close to £500 million. the brazilian star told me, though, he's followed his heart, not his wallet. lots of people are saying that perhaps you are doing this for the money, that that is your motivation. what do you say to that? translation: i didn't

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audi, which is the biggest contributor of profits to vw, said it was replacing it‘s heads of finance,tims of the grenfell tower fire. firefighters who helped tackle blaze were among thousands who held a minute‘s silence for the 80 people who died. the route of the parade passes near the tower in west london. it‘s the carnival‘s 51st year. now the weather. first across texas. we have the radar here. this is tropical storm harvey, obviously, the rain‘s been terrible. we‘ve seen that. i want to tell you why it‘s raining so heavily and why it will continue. this is the centre of the storm. the centre is where all that wind is spiralling around. it‘s drifting out to sea again, which is not good news, because it means it could restrengthen a bit and it‘s drawing yet more moisture off the sea and then dumping it back inland. it would have been better if this storm drifted further north and dried out. that‘s not happening. it's dried out. that‘s not happening. it‘s stalled. hence we‘re seeing yet more rain to come over the next few days. very, very bad situation, more or less the worst case s

oliver schmidt is a german national who is the senior most vw executive to admit his guilt and faces years in prison. america's trade deficit is at an eight month low in june. imports fell because of the client and crude oil and consumer goods. berkshire hathaway is said to report earnings after the close of u.s. trading. bloomberg intelligence says certain insurance initiatives at geico and aig may have heard the results. the forecast for berkshire should be $57 billion. that's your latest bloomberg business flash. vonnie: time for our bloomberg quick take where we provide background on issues of influence. today we are looking at active versus passive investment. they say passive investment is danger of devouring capitalism. is a trillion dollars invested in active management funds. more and more people are saying no. is the world's largest asset rock, paring back and focusing on what's known as passive investing? is that going to work as an approach endorsed by legendary investor warren buffett question ? 1/3 of all american assets are in passive funds which is up. $500 billion wa

the issues surrounding them is were they involved in terms of the devicesw about vw was installing in wereisola missions test's? they complicit in it, how much did they know, when did they know and they are facing a state of lawsuits that they not only new but they insisted on it. they have so far settle for $300 million and are hoping to draw the line and walk away. it remains to be seen. >> you touched on this idea that i was compelling. they are at the intersection of engineering vehicles and electronics but also connect to that he, they want to do a lot with that. are the scandal surrounding the emissions test enough to potentially put that on hold? >> having covered them for a long time in europe as well they got a head start on connectivity and looking at this in a holistic way. they were integrated because of the dominant auto industry which was ahead of the game because it is treated almost as an appliance maker. is in theme forefront. so they have a head start and engineeringh an behemoth in terms of the talent. they are going to have to sweat it out. they have huge aspiratio

at a state enabling a terrorist group so i'm going to take it away from just state on state warfare vw and which is beyond this discussion, and look at the possibility enabling a nonstate actor to further that state's own ends. my personal opinion is that i think it is unlikely for that to happen for the following reason. number one, why would a state trust a terrorist group? because there's always a potential for that group now that it has the capability to turn it around and use that against the state that provide that had capability. and secondly, i had a second thought. give me a second here. let's see-- oh, sure, atri -- at atribution. lets say you have an angry recipient of that bw event that's going to look not to the terrorist state, but who enabled it. for a state to deliberately enable a terrorist group is unlikely. a different side of the equation is for an individual who is a part of the state program who by himself or herself aid a terrorist without the state's knowledge. and so, for example, where you had the fall of the soviet union, the united states government put a lo

the vw microbus in a new electric version and they're calling it the i.d. guys. be available in the u.s., europe and china starting in 2022. it will appeal to hippies and families in the 60s. now you know. did you ever wish that you could eat pizza every single day you must wait? greg northrup of new jersey ate domino's, an entire pie every single day for one year to prove that he could stay healthy even if he indulged. he managed to actually lose weight and maintain his muscle tone. he documented the journey and instagram throughout the year. here's the catch catch. he supplemented his pizza with three to four weightlifting sessions a week and 20 to 30 minutes of cardio everyday. cheryl: you know i was calling that out. come on. he burned every calorie he ate. i don't know how i'm going to make this transition, but let's do it. trading higher this morning. the big question here, welcoming the president's speech on afghanistan last night. we get the features of i'm not. price waterhouse coopers, good morning. >> good morning. i thought we could talk about pizza.

buzz, there's no doubt they're trying to capture the spirit of the vw microbus you remember how popularfornia still can find some on the road in san francisco, other communities like boulder where i used to live, you still see a lot of people driving the vw microbus this doesn't come out until 20 it 2, howeve 22, however. one, vans are falling in popularity minivans, any kind of a van. it's falling in popularity and at the same time, by 2022, how big will ride sharing be will robo taxis be and how does that impact what people are buying? so, this is an interesting call by volkswagon to sort of rekindle that magic from the microbus. >> next time a group of us need to take a ride, we'll specifically hail the volkswagon electric minibus sounds like fun. >> reporter: it would be. >> a few years to wait thank you very much. >> reporter: you bet. >>> a news alert on macy's simi modi has that story. >> reporter: dow jones is reporting macy's is reportedly poaching a senior executive from ebay in an effort to screamline its decisionmaking amongst its top management hal lawton will join macy's s

other and when mandatory evacuation took place yesterday i found out she had a suburban and i had a vwe came to the conclusion her vehicle could with stand the waters way better than i could. >> she came and got you? >> her two story house. so if it flooded i could go up there. >>b yaunt to talk about the danger of the flood waters and you can testify to that because i understand the flood waters have brought unexpected visit visitors. >> the morning after the hard rain that had come down and gators aren't uncommon in our ar area. the backyard faces a lake and so when i woke up and i saw that there were so many feet already of rain that had already built up in the backyard, i thought i'd take a peek of what i saw. it was just a piece of wood that was floating in the water. fill would trees back there and there's a storm but then i noticed it was moving a little bit differently than a piece of wood move be moving through the w water. i t was close. i think he spotted me. that was the first one he saw. >> how many did you see? >> two. there were two. i went to check on him a little while

a little bit of wet roadways, a little heavier right there, maryland city around the laurel area at vw parkway. probably not the best pool day. 80 degrees at 11:00 a.m. 82 at 1:00. it's going to be warm and humid. few storms in the afternoon. not anticipating much in the way of severe weather. now, wednesday, hot and humid. 89 degrees. heat index into low 90s. better chance of storm going to be friday and again on saturday. this is something we'll watch, too, the 90s don't return until next week, right now monday we've got a high temperature of 90 deg 90 degrees. this is very good now because of course we're talking about the eclipse, use proper eye wear that's so important. in the dc area we'll see 81% totality. that's actually going to obscure the sun pretty good bit when we've got to see a little bit in the way of darkness. most exciting time between 220 and 2:42 is the fios is not cable. we're a 100% fiber optic network. and with the new fios gigabit connection... you get our fastest... internet ever. with download speeds up to 940 megs - 20 times faster

this is around buoy up around -- right around the laurel area and right around vw parkway and 495 andi-95 area. look at this right through downtown right now in through northwest, right down along the mall, heavy rain, a little bit of lightning and thunder. we haven't seen a lot with this, a little bit of lightning and thunder. this looked kind of like this one. see this one over towards -- in towards parts of northeast. it's kind of exploded here. there's a lightning strike right around the dc area. heads up if you're on georgia avenue, 16th street. if you're over towards wisconsin or back over towards the articling tond and claire den area, coming down right here. good idea, maybe stay in doors and think about getting home and need to take the dog out for a walk. you might want to give yourself a little bit of time before this passes. it's not moving all that fast. it's really not moving all that fast. we'll continue to see that throughout the next houror now, tomorrow, i think a better chance of some showers and storms, same area, though. i-95. baltimore right on down dc, watch wha

here's a vw you can see just how foggy and cloudy it is over much of the peninsula, part of the east bay, even into the north bay. 24-hour temperature change shows most locations much cooler than this hour yesterday. 12 degrees cooler in concord than at this time yesterday. winds are pretty gusty also. 24-mile-per-hour gusts in san carlos, sfo and novato. probably feels cooler than it actually is. gray skies over the bay from the rooftop camera. 61 right now in san francisco. 63 across the bay in oakland. check out mountain view, just 73. 77 in gilroy. and here's another view of low clouds from emoryville. santa rosanly o74 degrees. usually the warm inland spots, in the low 70s. i'll have the accuweather forecast coming up shortly. lot >>> breaking news in lafayette. sky7 is above avalon avenue where someone was injured in a forklift accident. we'll push in here so you can get a better look at the scene there. the block is shut off for the emergency response crews. they've not told us what the condition the person who was injured is in. we'll stay on top of this breaking news story o

bug it's not coming out until 2022 it's supposed to look like the vw microbus, because that's basically behind it. although it's all electric and will be packed with the latest technology, volkswagen makes no bones about the introduction of this vehicle being tied to the rich legacy and the history of the microbus the microbus, as many people know, if you lived in california in the '60s and '70s, or really if you lived the anywhere around the country, it was extremely popular, both with surfer dudes as well as hippies, as well as other people who still drive them today you can still find them out on the road in a few spots. the head of volkswagen america is hoping the i.d. buzz can generate the assignment kind of buzz that volkswagen experienced with the microbus. >> this car is, for us, a rebirth of a great heritage, but it also carries into the future the mobility with all the electrification and to the censors, which will make the car fully connected and autonomous >> the question is, how much will this help sales of volkswagen they're still down compared to where they were two years

schmidt, a former manager at a vw engineering office in suburban detroit, was arrested in january.kswagen has admitted it used cheating software to get around u.s. emissions standards. >>> amazon's alexa has a new set of skills. the digital assistant can now play music from amazon's library based on specific activities. they range from things like meditation and falling asleep to working out and getting pumped up. and users will also be able to ask for specific genres. so if you like working out to beethoven versus taylor swift you can say alexa, play classical music for running. i'm landon dowdy. >>> getting back to food for a second, some of your favorite chain restaurants may soon disappear. the parent company of applebee's and ihop are planning to close more than 100 restaurants. the company says quick service restaurants with healthy options eaten into their profits so to speak. no word yet on which location wills close and when. >>> your kids may love those fidget spinner things but the consumer products safety commission says they are a choking hazard. they say the small par

vw admitted to cheating on emissions tests with rigged software in more than 11 million vehicles. schmidt will also have to pay a fine of up to $400,000 as part of his plea. >>> one of music's biggest stars, taylor swift, is preparing for court. swift is set to testify on monday in a denver courtroom against former dj david mueller. the allegationste incident in 2013. swift claims mueller groped her before a concert while taking a photo. he says the allegation isn't true. he also says it cost him his job. the trial will involve 32 public courtroom passes that will be available on a first come, first serve basis. >>> there might be a party in kalarama today. it's president obama's birthday. he's turning 56. last year on his birthday, mr. obama had usher and stevie wonder perform at the white house. >>> a fairfax county family is so very proud this morning because their daughter is making history at west point. simone will become the first african-american woman to lead the cadet corps there. only on news4 now bureau chief julie carey spoke with her family. >> reporter: simone has a

porsche and audi and the vw group is making a strong effort to go very fast.y have lost time in the past, they lost five years and that is the prophet of tesla. the profit of tesla. matt: thank you. foremost experts in the country on this subject. guy: the death of diesel, it is coming, is the electric car running -- ready? guest: what has changed in the last two years is that all this political capital with -- that the car capitals have has been destroyed. all these buyers who have been cheated, they out number the employees and the political capital they have to demand concessions from the government has dropped. the alternatives are looking better. pure battery electrics are looking better and plug-in hybrids. they will and if it from this decline we are expecting -- benefit from this decline in diesel. our models they take a while to get going parsley because you need a drop in battery costs to get the mass-market going. that happens in our view around the mid-20 20's and you get this real pickup. in the next two years you will see sales go from 1% to mayb

this was a tv camera, back in the times when it was the size of able twined in -- size of a vw, it filmed the incident. then some personal items from jackie and the children. two letters that jackie kennedy wrote to the wife of robert mcnamara, the defense secretary for kennedy. a very personal note. 1964, jackie had decided to move to new york city with the children to seek a new life. and mrs. mcnamara wrote her a note and this is the hand written reply were jackie says she must start a new life. "i know it will be better for the children." such a really hard rendering line. and here, years later, jfk john becoming the publisher of george magazine, quite a public figure himself. and at the age of around 29 years old, excuse me, 28, he introduced his uncle teddy at the democrat convention in atlanta. and these are the hand written remarks of his introduction. he begins by saying, thank you mr. speaker. this is a great honor. i felt very proud when i was asked. and then i discovered that my cousins were not returning his phone calls, they were campaigning for office themselves. this was r

>> scoop by do arizona van was that a vw micro bus. >> the mystery machine?. >> i'm not sure. that's all i'm going to look up as soon as we goat to commercial break. >> there is a new police chief in town coming up next at 6:00 the new bay area say that sworn in a new leader. >>> we've shown you incredible i have of apple's new med quarters. neighbors say it's a nightmare. >>> and breaking business news coming in. what do a ride hailing app and your taxes have in common? the answer next. sbrnchts a dispute between the sbrnchts a dispute between the 49ersaround the city of santa the energy conscious whopeople among usle? say small actions can add up to something... humongous. a little thing here. a little thing there. starts to feel like a badge maybe millions can wear. who are all these caretakers, advocates too? turns out, it's californians it's me and it's you. don't stop now, it's easy to add to the routine. join energy upgrade california and do your thing. >>> good morning east bay. let's get up and get going. >>> this is abc 7 mornings. >>> good morning

schmidt a former manager at a vw engineering office in detroit was arrested in january.gen admitted it used cheating software to get around u.s. emissions standards. >>> a new survey finds consumers are willing to pay extra for self-driving cars. study by ihs market surveyed 5,000 vehicle owners around the world, asked them how much they were willing to pay, depending on where they live. car buyers in the u.s. say they're willing to pay an extra $780 on average for full autonomy. germans say they'd pay the most more than $1,000. >>> sacramento reportedly the latest city to think small when it comes to solving a large homeless population. the "sac bee" says city leaders are considering a home village, each about 150 square feet. san jose leaders are talking about a similar idea. >>> one of the largest cannabis companies in the country bought an entire california town in hopes of turning it into a pot paradise. the town is nipton, in the mojave desert about 60 miles from las vegas. it's a gold rush town. the sale is still in escrow but the owner confirms american green inc

she thought he was bent on vw. turns out he wasn't.that's an example of a trained individual who is a bystander and made a decision to blow the whistle, in this case it happened to be her husband. he had previously boasted a plan to others to kill lots of people to use a german agent. he wanted to make a big splash bigger than someone who killed some to seven people. so that's an example of a bystander. i give one more example. this is more recent, october 2014, canadian brother by the name of martin runs down with his car and kills one person, injures another. they're both canadian armed forces personnel. he was specifically targeting canadian armed forces. one person died one injured. eighteen months before that event he converted to islam. personality change, grew a beard, stopped wearing jeans, started wearing robes, started going to a mosque frequently. decided he wanted to travel to syria and aid the isis cause. in june 2013 a few months after his conversion his father becomes concerned and notifies authority that his son might p

daimler down and vw down 1.3%. it is a red-hot headline.n terms of the auto industry, 8% to 10%.ween that is the guidance and it is the guidance in terms of the operating profit and they are on track for 100,000 electrified vehicles. anna: thank you for waiting there. let's look at what we learned yesterday, the numbers better than estimates. their bute that for what did we learn from the diesel summit? michael: apart from added incentives on scrapping or trading in older diesels, what was announced yesterday was preannounced a few weeks ago that they will recall euro five and euros six diesels for a software fix which will hopefully reduce the nitrogen 30%. by 25% to manus: do you think that what you saw and what you heard yesterday, was it theater for the politicians to -- and industry to appease, do you think the consumer will be happier? they are doing a software fix. michael: in terms of reassuring the consumer have not gone far enough in this is taking into account that sales have fallen significantly over the past couple of months, m

organized an entire assembly plant from a foreign auto maker they have some pockets of skilled workers for vwoga but this is an important vote it will be interesting to see what the results are and we get them late tonight. back to you. >> all right something to watch phil, thank you. when we come back, cigna reporting an earnings beat raising the full year forecast the stock is hitting an all time high this morning. but the ceo david cordani is with us talking earnings repeal and replace and more plus we'll dig in to today's bsjo report with jan hatzius squawk on the street will be right back a used car, >>> let's send it over for a quick market flash. >> we're watching shares of teva farm suit ka pharmacuticals after missing estimates with it's latest earnings and cutting it's forecast as well. several lawsuit firms cut it following that report and the companies earnings also pressured by pricing weakness in that drug business in the u.s. cigna reporting earnings that widely beat expectations while posting revenues that also came in above forecast. hitting an all time high earlier in the se

vw are also considering introducing a scrappage scheme for older diesels in the uk.n't that much, is it?|j think it is great that britain's largest carmaker is trying to do something positive but you have to consider whether the owner of a car worth £2000 or less has the wherewithal to go into a 12,000 pound car moving forward. there are other ways of purchasing, that ford can offer, and you can finance it, but you have to wonder about the potential 90 million people who are in these cars, and how many could afford to make the leap and how many would look to a new car rather than a newer use the car. and also this is for any a newer use the car. and also this is forany car a newer use the car. and also this is for any car by any manufacturer which is seven years or older. cars at seven years old could probably be worth more than 2000 pounds as well. absolutely, i think people need to do their homework on both sides, really, because we recommend that people haggle, and they haggle quite hard. you have to take that into consideration, but also your trade—in is often wo

he was last seen driving a blue vw golf hatchback with the license plate on your screen. >>> all rightthe time is 8:17. let's check in with alex savidge on this tuesday morning commute. hey, alex. >> good morning to you guys. sal taking a day off today. i'm keeping an eye on the roadways for you and all morning long. it is pretty busy, pretty clear that summer break is winding down for a lot of folks. everybody heading back to work. the roadways have been jam packed. let me tell you about the commute in marin county. southbound 101 is slow coming there novato. there is a crash at highway 37 that has backed things up. if you can make it through that little mess right there, once you get a little further south, let me somehow what the golden gate bridge looks like. there you can see that headed south across the bridge itself into san francisco, things are moving along pretty nicely here. not too bad there. now, finally let me show you what it looks like trying to make your way into the east -- from the east bay into san francisco. this has been a tough commute all throughout the morning.

merging from the vw par no major problems to report on i95 headed through nortonful melanie?ather on good morning washington on ♪ >>> these two got a little bit of a workout. that's a little bit of a hike to come back up here. way to go. >> use the stairs or elevator. >> oh. >> we used the proper mode of transportation to get back. >> good answer. >> we saw ginger when we got out of the elevator. we had to give her a hug and kiss. that is amazing. we're so happy for ginger and her family. her expanding family. congratulations to ginger again. [ applause ] and we got to tell you, welcome, everybody out there. great to have you here in studio with us all. great in-studio audience. [ applause ] it is monday, so i have a good bet that a lot of people in your thrones" this morning. is that fair to say? i would say it is. but what if you don't watch the show. "the washington post" wrote about how nonfans are coping. now that the season is in full swing. what do you do if you haven't seen the most popular tv show or movie? do you fake it? >> you can't fake it with that show. >> no.

that was the ginerali chief executive officer vw daimler. jones might've hit a record yesterday but lower this morning. let's check in on markets. mark: the bank of england's rate decision and roughly two hours, 12 minutes time. super thursday, the rate decision. the core inflation report. function, i think of it deeper. this is the page for august 3. % probability the bank is going to raise rates. months ago that was at 23.7 percent following some hawkish comments from mark carney. at the last meeting, the split was 5-3. anstin forbes has left and analyst i spoke with yesterday said it will probably be 6-2 today. this is cpi inflation, the white 2.6%,hich, as we know, is well above the bank of england's 2% target. basic wage growth is the blue line. look at the difference between inflation and basic wages. that is the gap that matters. this is a wonderful chart as well. this is real wages, the blue line, -.4%. inflation higher than wages. if you're thinking that consumers can dip into their isings, francine, the hope not great because savin

a vw recall could cause certain models to crash. train to a new york city man charged with trying to join jesus in syria. cheryl casone has the details on that. >> that's right, good morning. accused of sending message on social media about support of the terror group in trying to join asis in saudi arabia last spring. they were stopped from entering an identified -- unidentified country. they were arrested there. being held without bail this morning. volkswagen recalling more than 208,000 cars in the united states. the german automaker says the computer can actually lose power and cause the engine to start. the cc from the 2009 through 2016 model years. but that's not also on this list, 2006 through 2010. volkswagen says no reports of crashes in the united states caused by this problem. united technologies reportedly getting close to a deal to buy rockwell collins for more than $20 billion. it would create one of the world's biggest aircraft equipment makers. "wall street journal" says the companies discussed the per-share price fo

vw hadthat thick skin -- that big scandal a couple years ago. that is the story in europe.d the record high you could see in the open. the dow has already crowed -- closed this year. after six straight days of gains, the 2000 is within striking distance. the longest winning streak since 1997. is jonathanyork krinsky. what do you think of the numbers of apple and how supportive will that be of the market? guest: you had an excellent review on apple. the key points were no delay in the phone. more annuity and service revenue. he did not have time to get there, but the cash flow is improving. green light for apple. another exclamation point in this long strain of reported earnings that have been better than expected. setting revenue and earnings marks higher than people thought in the market keeps drifting higher. jon: david and i were talking about the amount of people who come up and ask us about the politics of d.c. and white has not affected the stock market. but it has had a big impact on the fx market. why? guest: i think the earnings strive stocks, not washington, d.c.

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