Tag: #FrankfurtamMain
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Four VW managers charged with embezzlement: prosecutors
Frankfurt am Main, Nov 12 (AFP/APP): German prosecutors said Tuesday they have filed embezzlement charges against four Volkswagen executives for having accorded excessive salaries and bonuses to several members of an employees’ council. The action benefitting five members of the works council cost the car giant around 5.1 million euros ($5.6 million) in overpayments, prosecutors…
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Deutsche Bank suffers heavy third quarter loss
Frankfurt am Main, Oct 30 (AFP/APP): Germany’s biggest lender Deutsche Bank reported Wednesday a heavy net loss in the third quarter, as the costs of its latest phase of restructuring weigh on the bottom line. The group lost 859 million euros ($954 million) in July-September, down from a profit of 211 million last year. The…
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Opel slashes hours amid German carmaker gloom
Frankfurt am Main, Oct 1 (AFP/APP):German carmaker Opel said Tuesday it would slash hours for workers at its main factory, highlighting a car industry hit by falling demand and a challenging technological transformation. Peugeot subsidiary Opel “has registered reduced hours for six months from October” at its historic home base in Ruesselsheim, near Frankfurt, a…
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Current and former VW bosses face ‘market manipulation’ charges
Frankfurt am Main, Sept 24 (AFP/APP):Weeks after its latest attempted new start with an all-electric car, Volkswagen is again in the legal weeds over its years-old “dieselgate” scandal, as charges against top executives pile on top of mass lawsuits by investors and car owners. In a new blow to the car giant, German prosecutors said…