Industries & Sectors

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Embattled VW sinks deeper into mire of emissions-cheating scandal FRANKFURT: Shares in Volkswagen took a renewed battering Wednesday as evidence emerged that the massive pollution cheating scandal engulfing the company may also involve petrol engines, not just diesel engines.VW's shares were once again the biggest losers on the Frankfurt stock exchange, slumping more than 10 percent in early trade. The company has lost 37 percent in market capitalisation since September when the initial cheating revelations broke.Until now, the emissions-cheating scandal had centred on so-called defeat devices, sophisticated software fitted into diesel engines to skew the results of tests for nitrogen oxide emissions.But late Tuesday, the auto giant said that an internal probe had uncovered "inconsistencies" on carbon emissions, as well. And these might not only affect diesel engines, but the first petrol engines, too. According to a statement, initial estimates suggested the latest revelation could cost VW two billion euros ($2.2 billion).But "a reliable assessment of the scale of ...
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