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Fed Holds Rates Steady, Hints at Year-End Increase
9/22/2016The Federal Reserve opted on Wednesday to leave its prime lending rate unchanged at 0.25%-0.50%.
VW Pledges “Action Plan” to Fix European Diesels
9/22/2016Volkswagen AG has agreed to an EU-wide “action plan” that will accelerate its efforts to fix 8.5 million of its cars that were equipped with diesel engine rigged to evade emission limits.
Study: Cheap Fuel, High Fuel Economy Standards Could Cut 1.1 Million U.S. Jobs
9/22/2016Continued low fuel prices in the U.S. could eliminate at least 1.1 million jobs in the U.S. because consumers won’t buy the costly fuel-efficient cars being mandated by federal fuel economy rules, predicts the Center for Automotive Research in Ann Arbor, Mich.
France Ponders Penalties for Carmakers that Exceed CO2 Targets
9/22/2016France’s budget minister says the government may demand payments from carmakers whose vehicles significantly exceed their rated carbon dioxide emissions in real-world driving conditions.
Mercedes Reveals All-Terrain E-Class Wagon
9/21/2016Daimler AG’s Mercedes-Benz unit says its new E-Class All-Terrain wagon provides more ground clearance and off-road capability than the base model.
Two Japanese Auto Parts Execs Indicted for Price Fixing
9/21/2016A federal grand jury in Detroit has indicted two Japanese executives on charges of conspiring to obstruct a continuing U.S. investigation into price fixing among auto suppliers.
Bentley Bentayga Adds Diesel Option
9/21/2016Volkswagen AG’s Bentley unit is introducing a diesel version of its Bentayga crossover/SUV, marking the first use of a compression-ignition engine in the luxury brand’s 97-year history.
Renault to Shift Some Logan Production from Romania to Morocco
9/21/2016Renault SA intends to move some production of its Logan MCV wagon from a facility in Pitesti, Romania, to its factory in Tangiers, Morocco in early 2017.
GM Affirms Financial Targets for 2016
9/21/2016General Motors Co. reiterates its guidance for a profit this year of as much as $6 per share and says it expects to surpass its goal of cutting costs $5.5 billion during the four-year period 2015-2018.
Is Apple Interested in Buying McLaren?
9/21/2016Apple Inc. has entered talked with McLaren Technology Group about investing in or acquiring the British company’s supercar unit, sources tell the Financial Times.