Competition watchdog warns of casework impact in event of no-deal Brexit

first_img All antitrust responsibilities, including state aid cases, currently undertaken by EU authorities will fall under the remit of the CMA once the UK leaves the bloc.Read more: Watchdog delays final report on Sainsbury’s-Asda merger“Taking on new and mandatory cases now will heavily constrain our ability to launch other new, but more discretionary work using our markets and enforcement powers,“ the regulator said in its annual report, released today.The CMA, which has received £20m from the Treasury to prepare for its powers after Brexit, said adapting to the changes could mean refocus its efforts.“What is clear is that post-[Brexit], the CMA will be a very different body from now, taking on bigger and more complex global cases whilst remaining firmly committed to protecting UK consumers in purely national and local markets,” wrote chairman Andrew Tyrie and chief executive Andrea Coscelli. whatsapp Share Thursday 14 February 2019 6:39 pm whatsapp “We will need to take tough decisions on our domestic casework priorities, at pace, to be flexible to our new circumstances,” they added.Read more: Big Four accountants push back against breakup proposalsThe regulator is currently probing the proposed merger between supermarket giants Sainsbury’s and Asda, and is investigating ways to reduce the dominance of audit’s Big Four.“If negotiations result in an implementation period or significant extension to the UK’s EU membership, we intend to give greater priority to potential market studies and investigations as we consider future work. A ‘no deal’ outcome will preclude this in the immediate term,” the CMA said. center_img The UK’s competition regulator warned it would have to take “tough decisions” on its casework in the event of a no-deal Brexit.The Competition and Markets Authority (CMA) said investigations into markets and price fixing could be impacted if it is forced to take on additional work after the UK leaves the EU. Louis Ashworth by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableybonvoyaged.comTotal Jerks: These Stars Are Horrible People.bonvoyaged.comMisterStoryWoman files for divorce after seeing this photoMisterStoryDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthGadgetheory39 Of The Most Beautiful Women In HistoryGadgetheoryFinance Wealth PostTom Selleck’s Daughter Is Probably The Prettiest Woman To Ever ExistFinance Wealth Post Competition watchdog warns of casework impact in event of no-deal Brexit Tags: Brexitlast_img read more

US investment giant Fidelity in talks over £100m Starling Bank stake

first_img US investment giant Fidelity in talks over £100m Starling Bank stake Share Show Comments ▼ US finance giant Fidelity is said to be in discussions over taking a £100m stake in Starling Bank amid surging interest in digital lenders. Starling and Fidelity declined to comment. Fidelity Management & Research (FMR), which manages trillions of dollars in assets, is in advanced talks to lead a fresh round of funding worth £200m, Sky News reported. It is unclear what valuation would be attached to Starling after the latest fundraising round. JP Morgan has since confirmed it is pressing ahead with plans to launch a new UK digital bank in the coming months. The US investment giant would contribute half of a new cash injection, with other blue-chip investors said to be in talks over the fundraising. Starling Bank, founded in 2014 by Anne Boden, booked its first monthly profit in October (Getty Images for TechCrunch) The challenger bank, which was founded in 2014 by Anne Boden, has raised £363m to date, including £100m from the RBS bailout fund. Starling last year kicked off its hunt for new capital when it hired advisors at Rothschild to explore interest among investors. In November the Times reported that both Lloyds and JP Morgan had expressed an interest in buying Starling. whatsapp Starling Bank, founded in 2014 by Anne Boden, booked its first monthly profit in October (Getty Images for TechCrunch) Also Read: US investment giant Fidelity in talks over £100m Starling Bank stake But the lender’s board, led by City veteran Oliver Stocken, has reportedly opted to move ahead with further funding ahead of a possible stock market listing in the coming years. Friday 29 January 2021 1:43 pm Starling Bank, founded in 2014 by Anne Boden, booked its first monthly profit in October (Getty Images for TechCrunch) Also Read: US investment giant Fidelity in talks over £100m Starling Bank stake The bank now has more than 2m accounts, of which just over 300,000 are small business customers. whatsapp James Warrington Starling Bank, founded in 2014 by Anne Boden, booked its first monthly profit in October (Getty Images for TechCrunch) Also Read: US investment giant Fidelity in talks over £100m Starling Bank stake In October the lender booked its first ever monthly profit — an achievement that is likely to draw increased interest from private equity backers. More From Our Partners LA news reporter doesn’t seem to recognize actor Mark Currythegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orglast_img read more

Deutsche Bank boosts CEO pay by 46 per cent following return to profit

first_img Christian Sewing was appointed in 2018 to turn around Deutsche Bank’s fortunes. (Photo by Thomas Lohnes/Getty Images) Also Read: Deutsche Bank boosts CEO pay by 46 per cent following return to profit whatsapp Deutsche Bank boosts CEO pay by 46 per cent following return to profit The return to profit marked an important milestone for CEO Sewing, who took over in 2018 to turn Deutsche around after costly regulatory failings. Christian Sewing was appointed in 2018 to turn around Deutsche Bank’s fortunes. (Photo by Thomas Lohnes/Getty Images) Also Read: Deutsche Bank boosts CEO pay by 46 per cent following return to profit More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comWhy people are finding dryer sheets in their mailboxesnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKiller drone ‘hunted down a human target’ without being told‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMark Eaton, former NBA All-Star, dead at Some of those workers earn as little as €12 per hour, according to union officials. At least 650 staff in Berlin and Essen have been on an open-ended strike this year as they seek a six per cent pay rise. A surge in investment banking earnings offset a weaker showing in its other businesses. Damian Shepherd Show Comments ▼ Christian Sewing was appointed in 2018 to turn around Deutsche Bank’s fortunes. (Photo by Thomas Lohnes/Getty Images) Deutsche’s net profit attributable to shareholders for 2020 was €113m, compared with a loss of €5.7bn in 2019. Friday 12 March 2021 9:13 am Tags: Deutsche Bank Bonuses for the entire bank were up 29 per cent as it rewarded its senior staff for a pandemic-related trading boom. The bank announced the figures in Friday’s annual report, which said revenues would be “marginally lower” this year. whatsapp Share Some were less impressed with the rise, as call centre workers went on strike over demands for higher wages. The rise in the bonus pool to €1.9bn brings it to around the same level as 2018 after a dip last year. Deutsche Bank raised CEO Christian Sewing’s pay by 46 per cent to $8.8m in 2020 as the bank revelled in profit after years of losses.last_img read more

News / Air freight is on course to make gains as experience cascades to next generation

first_img“Airlines are bringing in all this capacity but don’t take cargo seriously, and so are missing tremendous opportunities for revenue,” said Stan Wraight, executive director of SASI. “We want to focus on issues such as revenue management and help raise the value proposition for airlines.“Cargo ends up as a cheap contribution if management doesn’t have the knowledge base to make it a core business. So many airlines could make more from their bellies. If they don’t invest in training they will stay at a competitive disadvantage.”He added that this was particularly true of smaller or pure belly carriers that find themselves competing on some lanes with serious cargo carriers like Emirates or Lufthansa.“It will also help managers raise the profile of cargo within an airline’s boardroom. If you don’t raise awareness and understanding, you are doomed to lose money on the product,” added Mr Wraight.The course, however, is not limited to airlines. As TIACA spreads its tentacles across the supply chain – with board directors from Boeing, Agility, WFS, UPS, WCA, as well as airlines and airports – it now has sufficient depth and breadth of knowledge to attract delegates from all areas of air cargo.“We can tailor courses so that delegates can ask questions relating to their interests,” explained Mr Wraight.“It could be that airports are looking to attract freighters, or want to know how to handle an airline that is switching aircraft types. The courses will be small to maximise the expert:trainee ratio. But it can also be for authorities that need to understand the issues, shippers that want to know the business better. Handlers have a lot of training, but on specific issues – they don’t get general airfreight knowledge.”The initiative has been welcomed by the industry.“It sounds a very good idea and I would certainly consider sending my staff,” said Tristan Koch, managing director EMEA cargo sales at American Airlines.“Cargo is not a career at a lot of airlines because it doesn’t pull its weight,” added Mr Wraight. “But it can. TIACA membership includes people who are passionate about air cargo.“It’s not abut making money, it’s about trying to share its knowledge with the wider industry. This is a unique opportunity.”For more information on the courses, the first of which is held in June in Amsterdam, please go here. The air cargo industry is set to profit from an initiative that will see industry knowledge passed down from senior management level and help a business raise both its revenue and profile.News that Des Vertannes, IATA cargo chief, is shortly to retire, follows the high-profile exits of other long-standing executives such as Ram Menen of Emirates SkyCargo and David Brooks of American Airlines Cargo – a wealth of experience leaving the business at a time when industry knowledge is essential for the changes needed.As a result, the increasingly dominant TIACA has launched an air cargo professional development workshop in a bid to ensure that the experience of the older generation is passed on to newcomers to the industry – in particular at companies that have no internal training of their own.Run in conjunction with consultancy and training provider SASI, the course is attracting participants from across the supply chain – from airlines and airports to regulatory authorities, shippers and handlers. By Alex Lennane 07/05/2014last_img read more

Government announce details of new ‘five level’ plan to live with Covid-19

first_imgHome News Government announce details of new ‘five level’ plan to live with Covid-19 News WhatsApp WhatsApp Government announce details of new ‘five level’ plan to live with Covid-19 Facebook Pinterest Electric Picnic The government have announced details of their medium term plan to deal with the continuing Covid-19 pandemic.‘Protecting health, strengthening employment and supporting communities’ are three of the core elements behind the plan which has been announced by Taoiseach Micheal Martin this morning.The plan contains five levels of response to Covid-19. Right now, every county is at level 2 restrictions.  Low risk is Level 1 and full lockdown is Level 5. By Alan Hartnett – 15th September 2020 Twitter RELATED ARTICLESMORE FROM AUTHOR International travel will be governed by European Commission proposals in the medium-term but before that Ireland’s Green List of safe travel countries is expected to be updated next week.Up to 200 spectators are to be allowed to attend sports matches in ‘large stadiums’ from this week under the plan.Pubs that do not serve food will be allowed to reopen from September 21.While 50 people will be allowed to gather indoors and 100 people outdoors in a controlled environment.This morning Minister for Health Stephen Donnelly said the new measures in the Government’s Covid-19 plan will come into effect from midnight.Taoiseach Micheal Martin said: “We’re not yet able to make COVID-19 a part of our past.“This is a plan which gives clarity about each of our responsibilities and how different sectors will be handled.“It shows how we can limit the impact of the virus while keeping our schools open.”center_img Facebook Electric Picnic Twitter Bizarre situation as Ben Brennan breaks up Fianna Fáil-Fine Gael arrangement to take Graiguecullen-Portarlington vice-chair role News Pinterest Previous articleFrom devastation to elation – how repeating the Leaving Cert changed a Laois teenager’s lifeNext articleEXPLAINED: The full details of the Government’s Level 1 to 5 plan for Covid-19 Alan HartnettStradbally native Alan Hartnett is a graduate of Knockbeg College who has worked in the local and national media since 2008. Alan has a BA in Economics, Politics and Law and an MA in Journalism from DCU. His happiest moment was when Jody Dillon scored THAT goal in the Laois senior football final in 2016. Level three would be broadly similar to the restrictions imposed on Kildare, Laois and Offaly in August.But new measures for Dublin are also set to be announced which will most likely see restrictions remain in place regarding numbers of people gathering in houses and that pubs that do not serve food would have to remain closed. Laois Councillor ‘amazed’ at Electric Picnic decision to apply for later date for 2021 festival Electric Picnic organisers release statement following confirmation of new festival datelast_img read more

Road Repairs Carried Out in South West St. Elizabeth

first_imgRelatedRoad Repairs Carried Out in South West St. Elizabeth RelatedRoad Repairs Carried Out in South West St. Elizabeth RelatedRoad Repairs Carried Out in South West St. Elizabeth Road Repairs Carried Out in South West St. Elizabeth UncategorizedNovember 19, 2008center_img FacebookTwitterWhatsAppEmail Approximately seven kilometres of roadway in Slipe, South West Elizabeth have been repaired by the National Works Agency (NWA) at a cost of about $40 million.Speaking with JIS News during a tour of damaged roadways and farm roads in the area on November 14, Minister of Agriculture and Member of Parliament, Dr. Christopher Tufton, said that the work carried out included the lifting of the roadway to allow water to run in the appropriate curbs and channels. “The residents are very happy for it. It has transformed their lives and the quality of their lives,” he stated.Minister of Transport and Works, Mike Henry, who was also part of the touring party, said that the “visit is to follow up and …check on the status and the quality of work done …and to make sure of what gaps I need to fill, in relation to the technical aspects of it.”“It is important that I keep looking to see what we need to upgrade and re-examine anything we may have done wrong in the urge maybe, to facilitate the citizens,” the Minister added.He informed that the Ministry will also be launching a product called Pave-Zyme, “which has been lying fallow in the Ministry of Transport and Works for about eight years and which will reduce the cost of road repairs”.Pave-Zyme is an enzyme-based organic and environmentally-friendly formula that bonds soil and increases compaction. It makes roads impervious to water and increases load bearing capacity, while reducing the amount of aggregate and other material needed to construct the road.Meanwhile, Dr. Tufton informed that work will begin shortly on the construction of a post office for the community and that he has been in dialogue with the CHASE Fund, to establish a basic school at the community centre.The touring party also examined shoreline recession and the construction of a boardwalk in Black River; the extent of damaged road surfaces in Cotterwood, Greenfield, Round Hill and Hounslow; and road work underway in Prospect in the Parish. Advertisementslast_img read more

Voluntary Assisted Dying laws introduced to Queensland Parliament

first_imgVoluntary Assisted Dying laws introduced to Queensland Parliament JOINT STATEMENTLegislation to allow access to voluntary assisted dying in Queensland has been introduced into Parliament today.Premier Annastacia Palaszczuk said the Voluntary Assisted Dying Bill 2021 will now be scrutinised by the Health and Environment Parliamentary Committee, and will go through further public consultation.“The path to this day has been long and considered, and paved with reverence and respect,” the Premier said.“Many Queenslanders who have watched a loved one suffer feel passionately that there must be dignified options available to everyone.“This bill delivers on an important election commitment I made to the people of Queensland.“It provides a chain of safeguards to ensure only those at the end of life can make these choices, and then only those capable of making that choice for themselves.“That is why we’re equally committed to delivering an additional $171 million investment in palliative care.“At its heart this reform is about love and the dignity we all share and owe to each other.“I urge all Queenslanders to ensure the utmost respect for other people and other points of view.”“When the time comes, Government MPs will vote according to their conscience.”Deputy Premier Steven Miles said the draft bill allows for Queenslanders nearing the end of their life to have greater choice about how, when and where they die.“Voluntary assisted dying is not a choice between life and death, it’s a choice for those who are dying and wish to have more control over the time and circumstances of their death,” Mr Miles said.“The draft legislation recognises that people’s autonomy and dignity should be respected when making end-of-life choices.“I encourage all Queenslanders to read the report and engage with the Parliamentary committee process.”Health Minister Yvette D’Ath said the draft bill included safeguards to protect both those who seek to use voluntary assisted dying and medical practitioners and entities asked to participate in the process.“These laws are being developed at the same time as we’re advancing our election commitment to invest $171 million to deliver more palliative care options across Queensland,” Ms D’Ath said.“Under the draft laws, more than one medical opinion is needed. A person must have an eligible condition and decision-making capability.“The draft bill also contains provisions for medical practitioners to conscientiously object.”Attorney-General Shannon Fentiman thanked the Queensland Law Reform Commission for their work on the proposed legislation.“The Commission has done extensive consultation with health practitioners, organisations, religious bodies, unions, legal bodies and members of the public,” the Attorney-General said.“It is such an important piece of legislation for so many Queenslanders, it’s important we get it right.”The Health and Environment Parliamentary Committee will have 12 weeks to undertake scrutiny of the bill and members of the public and stakeholders will have an opportunity to provide submissions. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Australia, Commission, environment, Government, health, health minister, Investment, law reform, legislation, miles, Palaszczuk, palliative care, parliament, public consultation, QLD, Queensland, religious, Shannonlast_img read more

‘Deja vu’: County worries testing shortage could hurt fight against COVID-19

first_imgClark County added 29 new confirmed cases and two additional deaths from COVID-19 on ThursdayCLARK COUNTY — The resurgence of COVID-19 across parts of the United States has Clark County’s Public Health Director warning of a “deja vu all over again.”On Wednesday, Dr. Alan Melnick told the county’s Board of Public Health that testing supplies are once again becoming increasingly scarce for area healthcare providers.COVID-19 testing kits are once again in short supply for Clark County due to increasing demand around the county. Stock photo“We’re competing with areas of the country where there’s increased demand based on where the pandemic is,” said Melnick. “Supplies are getting diverted.”A recent shipment of the rapid Point of Care tests bound for Clark County providers was recently diverted to the southeast, Melnick said, likely to Florida which is battling one of the worst current outbreaks in the country.That increased competition is forcing some providers to add back in restrictions on who can get a test, focusing on people with symptoms, anyone requiring admission, and prior to a scheduled procedure.“It’s deja vu all over again with what happened in April,” Melnick added.Adding to Melnick’s worries, the increased demand for testing has pushed the time for results sometimes to a week or longer.“One of our providers who uses the Point of Care testing had sent some samples to Quest and, after eight days, they had not received the results back yet,” said Melnick. “So, LabCorp, Quest, those national labs are having a much longer turnaround time.”Dr. Alan Melnick, Clark County’s Public Health officer and health director, speaks at a Board of Public Health meeting in May. Photo courtesy CVTV.orgDr. Alan Melnick, Clark County’s Public Health officer and health director, speaks at a Board of Public Health meeting in May. Photo courtesy CVTV.orgThe problem prompted Clark County Public Health to issue a provider advisory last week, urging area hospitals and clinics to use in-state testing whenever possible in order to keep result times as quick as possible.The newly resurgent restrictions on testing, and the delay in results, amount to more than a minor inconvenience. They could have a potentially crippling effect on the county’s efforts to track and isolate the virus.“Not only did patients suffer with worrying about whether they’ve got COVID-19, and it causes angst there,” said Melnick, “but impedes our ability to isolate and then identify close contacts and quarantine them.”Melnick said Public Health has added new staff this week, with more coming on board in the next two weeks, and quickly bumped up their dismal record of reaching only seven percent of new COVID-19 cases within 24 hours to a more respectable 70 percent.Still, if they don’t get confirmation that someone is infected until more than a week after they get a test done, much of the benefit of that quick response time goes out the window.“We make those decisions based on lab confirmation,” said Melnick, “and the turnaround time is just unacceptable.”Clark County Public Health is warning that a shortage of test kits and delays getting results could impact efforts to contain the virus. Image courtesy Clark County Public HealthClark County Public Health is warning that a shortage of test kits and delays getting results could impact efforts to contain the virus. Image courtesy Clark County Public HealthInfection demographics shiftingAnother area of concern for Melnick is which age group is becoming infected. In April and May, most infections were happening in older populations, with deaths being reported almost daily. Many of those were among people in long term care facilities, or retirement homes.With those facilities improving their infection control measures, the recent rash of infections largely impacted younger people, said Melnick.While the total number of tests per week have gone down, positivity rates have gone up in Clark County. Image courtesy Clark County Public HealthWhile the total number of tests per week have gone down, positivity rates have gone up in Clark County. Image courtesy Clark County Public HealthWhile that seemed to decrease the death rate, Melnick warned in early July that it was likely younger populations would inevitably end up exposing older, or more at risk people to the disease.“We had some young adults who were at an event around, I believe, July 4,” said Melnick. “They get infected, and some of them work in long term care facilities.”While the county has currently been updating its demographic data of new cases, statewide data shows recent infections have begun to shift towards older people.“Whether it’s in families or in a work setting the disease can spread to older population groups,” said Melnick. “You really can’t control the virus that way.”Thus far, the shift has not resulted in dramatically increased hospitalizations or death rates. Clark County reported two more deaths on Thursday, bringing the total to 39. The most recent deaths were of a man in his 60s, and a man in his 80s, both with underlying health conditions.In mid-July, COVID-19 and suspected COVID-19 cases generally made up 5-6 percent of occupied hospital beds in Clark County. That number has been closer to four percent over the past week, and daily case counts have dropped from around 40-50 per day to 20-30.“I’m hopeful that we’ve plateaued,” Melnick said, “and as people continue to, hopefully, physically distance and use masks we’ll continue to see that number go down.”AdvertisementThis is placeholder textTags:Clark CountyCovid-19LatestVancouvershare 0 Previous : Vancouver’s Downtown Business Association will announce competition winner Friday Next : UPDATE: PDC dismisses complaints against Blom and RiversAdvertisementThis is placeholder text ‘Deja vu’: County worries testing shortage could hurt fight against COVID-19Posted by Chris BrownDate: Thursday, July 30, 2020in: Newsshare 0 last_img read more

VW reaches preliminary $1 billion settlement with diesel V6 engines

first_img PlayThe Rolls-Royce Boat Tail may be the most expensive new car everPlay3 common new car problems (and how to prevent them) | Maintenance Advice | Driving.caPlayFinal 5 Minivan Contenders | Driving.caPlay2021 Volvo XC90 Recharge | Ministry of Interior Affairs | Driving.caPlayThe 2022 Ford F-150 Lightning is a new take on Canada’s fave truck | Driving.caPlayBuying a used Toyota Tundra? Check these 5 things first | Used Truck Advice | Driving.caPlayCanada’s most efficient trucks in 2021 | Driving.caPlay3 ways to make night driving safer and more comfortable | Advice | Driving.caPlayDriving into the Future: Sustainability and Innovation in tomorrow’s cars | virtual panelPlayThese spy shots get us an early glimpse of some future models | We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. Trending in Canada advertisement COMMENTSSHARE YOUR THOUGHTS See More Videos The Rolls-Royce Boat Tail may be the most expensive new car ever While the settlement is a step forward, it will potentially add to the 18.2 billion euros (US$18.9 billion) the automaker has so far set aside to cover the damages from years of duping consumers and regulators by manipulating emissions tests in a scandal involving 11 million diesel vehicles worldwide.Volkswagen is still under criminal investigation in the U.S. and on the hook for outstanding civil claims from several states. It also faces hundreds of investor lawsuits in Germany and is the subject of a criminal probe there, as well as in South Korea.The Justice Department said the settlement reached this week “does not resolve any pending claims for civil penalties, nor does it address any potential criminal liability,” nor does the deal “resolve any consumer claims, claims by the Federal Trade Commission or claims by individual owners or lessees who may have asserted claims in the ongoing multidistrict litigation.”Remaining IssuesThe U.S. Environmental Protection Agency estimated that the accord will cost Volkswagen US$1 billion, which would increase the amount it has agreed to pay to resolve claims in the U.S. and Canada to more than US$19 billion. Jeannine Ginivan, a spokeswoman for VW’s U.S. unit, declined to comment on any dollar figure until a final agreement has been reached with car owners.Details of the agreement with car owners were still being worked out, and U.S. District Judge Charles Breyer, who’s overseeing the case in San Francisco, ordered lawyers to report back to him Thursday.The settlement marks “an important step in the right direction to get the DOJ criminal fine out of the way, which we expect under the Obama administration,” Arndt Ellinghorst, a London-based analyst at Evercore ISI, said in a note to clients. He estimates the financial hit from that penalty to be US$3 billion.Volkswagen is “committed to earning back the trust of all our stakeholders and thank our customers and dealers for their patience as the process moves forward,” the automaker said in a statement.Bosch ClaimsThe settlement provides for repairing the cars if a fix is approved by the government. It also covers claims against VW supplier Robert Bosch GmbH, which said specific terms may not be disclosed until a definitive agreement is reached and presented to the judge. “Bosch neither acknowledges the facts as alleged by the plaintiffs nor does Bosch accept any liability,” the component maker said in a statement.Vehicles covered by the 3.0-litre settlement include the Volkswagen Touareg, plus a handful of Porsche and Audi models. Recall plans for most 3-litre vehicles involve a simple software update, people familiar with the matter have said. Created with Raphaël 2.1.2Created with Raphaël 2.1.2 The Audi A6 TDI is among the diesel V6-equipped vehicles that could have cheating software. Avoiding a full buyback of all the cars would save the company about US$4 billion, the people said. Trending Videos RELATED TAGSAudiPorscheVolkswagenNewsArndt EllinghorstAsiaAudi AGAutomotive TechnologyBarack ObamaCalifornia Air Resources BoardCanadaCanadian DollarCharles BreyerCivil TrialsCrime and LawDr. Ing. h.c. F. Porsche AGEast AsiaEnglandEuropeEvercore Partners Inc.GermanyInternal Combustion VehiclesJeannine GinivanJudiciaryLondon (England)Robert Bosch CorporationSan FranciscoScience and TechnologySouth KoreaTechnologyTrialsU.S. CourtsU.S. Department of JusticeU.S. Environmental Protection AgencyU.S. Federal Trade CommissionUnited KingdomUnited StatesVolkswagen AGVolkswagen TouaregWestern Europe Volkswagen took an important step in digging out from its emissions-cheating scandal by reaching a US$1 billion agreement to settle lawsuits over tainted 3.0-litre diesel V6 engines.The preliminary accord calls for the German automaker to fix or buy back 83,000 Audi, VW and Porsche vehicles equipped with a so-called defeat device. The deal includes pledges by Volkswagen to spend US$225 million to mitigate environmental damage the autos caused and another US$25 million to support the use of zero-emission models, the California Air Resources Board and the U.S. Department of Justice said in statements following a U.S. federal court hearing in San Francisco.Resolving the issue with the V6 diesel vehicles has proven to be sticky, as Volkswagen insisted the engines were fixable and balked at agreeing to buy back all of the affected cars, in contrast to an October deal covering 480,000 rigged 2.0-litre four-cylinder TDI cars in the U.S. and the recently announced $2.1 billion settlement in Canada, which also includes a buyback. Buy It! Princess Diana’s humble little 1981 Ford Escort is up for auction An engagement gift from Prince Charles, the car is being sold by a Princess Di “superfan” ‹ Previous Next ›last_img read more

‘Native American Star Knowledge’ Topic Of CU Planetarium Show Oct. 19

first_imgShare Share via TwitterShare via FacebookShare via LinkedInShare via E-mail Traditional star knowledge of the Lakota, Pueblo and Navajo tribes will be discussed Oct. 19 at the University of Colorado at Boulder’s Fiske Planetarium. “Native American Star Knowledge” will be presented by CU-Boulder Professor John Stocke of the astrophysical and planetary sciences department. Stocke will examine the Lakota and Pueblo traditions, including the methods used by ancestral members of the tribes to keep accurate calendars, which were used to time their religious ceremonies correctly. He also will talk about constellation myths, including the Navajo story explaining the creation of the stars. Much of this section of the show comes from a research project Stocke conducted several years ago with two Navajo “singers,” or medicine men, on the Navajo Reservation in Tsaile, Ariz. An introduction to the traditional lives and art of the Navajo people also will be presented, including examples of their exquisite weavings and ceremonial sand paintings, Stocke said. Admission for the show is $6 for adults, $5 for students and $3.50 for children and seniors. The Sommers-Bausch Observatory is open to the public following Friday evening shows, weather permitting. Admission to the observatory is free. For more information about Fiske Planetarium and other shows and programs it offers call (303) 492-5001 or visit the Web site at Published: Oct. 14, 2007 last_img read more