BMW, Daimler, VW broke antitrust rules: EU ‘preliminary view’

BRUSSELS The European Union warned German car giants BMW, Daimler and Volkswagen on Friday that a preliminary inquiry has concluded they colluded to avoid competing on emission control technology. “As a result, European consumers may have been denied the opportunity to buy cars with the best available technology. The three manufacturers now have an opportunity […]

Italy cabinet approves new package of measures to spur growth

Milan. Italy’s cabinet approved a series of measures to boost the economy, even as the Treasury prepares to slash growth forecasts for the year and raise its projected budget deficit. The so-called Growth Decree contains incentives including measures to encourage a restart of private investment as well as actions to safeguard the “Made in Italy” […]

Ex-Nissan chief Ghosn rearrested in Tokyo, detained for 10 days

Tokyo: Former Nissan chief Carlos Ghosn was rearrested early Thursday in Tokyo on fresh financial misconduct allegations, with the auto tycoon slamming his detention as “outrageous and arbitrary”. In the latest update, the Tokyo District Court on Friday said it had approved a request by prosecutors to detain ousted Nissan Motor Co Chairman Carlos Ghosn for […]