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FRANKFURT (Reuters) – The German Federal State of Baden-Wuerttemberg is seeking damages from Volkswagen (VOWG_p.DE) after local authorities purchased VW diesel vehicles which now face bans in cities like Stuttgart, Frankfurter Allgemeine Zeitung said on Saturday custom cufflinks nyc. The value of diesel cars plummeted after German environmental groups scored a court victory last year that forced cities to consider bans of older diesel vehicles to bring emissions into line with European Union clean air rules. The FAZ daily said state authorities filed a lawsuit with a court in Stuttgart at the end of last year, seeking damages totaling “low double digit millions”..
Volkswagen could not confirm this, and told Reuters the company had not seen the particular lawsuit. But it added that previous court decisions had backed its stance that legal actions to seek damages are without merit given that VW cars had valid road certification at the time of sale. Officials at Baden-Wuerttemberg state could not be immediately reached for comment custom cufflinks nyc. The paper said taxpayer money had been spent on buying and leasing diesel vehicles for the police service. It did not specify how Baden-Wuerttemberg had lost money..
U.S. regulators in 2015 blew the whistle on Volkswagen’s systematic emissions test cheating which revealed that the carmaker’s vehicles emitted far higher levels of nitrogen oxide pollution than permitted by the law. A global clampdown on pollution ensued, prompting regulators and environmental groups in Germany to scrutinize emissions custom cufflinks nyc. Unlike in the United States, older VW cars have not been found to be illegal in Germany after the carmaker agreed recall its vehicles to modify emissions filtering systems..
(Reuters) – Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them. If you wanted evidence that the U.S. economy could be rolling over, the surprise miss on the Institute for Supply Management’s closely watched manufacturing index was it. Wall Street and Treasury yields slumped after the ISM index turned in its largest drop since the financial crisis in 2008, and investors now bet that the Fed is more likely to cut rates this year than raise them custom cufflinks nyc.
But manufacturing isn’t the big weight in the U.S. economy it used to be custom cufflinks nyc. Services now account for roughly 80 percent of economic activity, and investors will be watching closely on Monday to see if ISM’s barometer of that key sector delivers solace or more pain. It is expected to dip modestly to a reading of 59.7 from 60.7 in November (a reading above 50 indicates activity is growing), but the risk is that it turns in a downside surprise like the manufacturing index. With the brewing China-U.S. trade war biting into global growth already and liquidity tightening around the world, 2019 was always going to be a stressful year. But nobody expected it to start with a currency market “flash crash” that briefly pushed dollar/yen below 105.00. The move was attributed to automatic sell triggers in thin markets, but it would have fully reversed by now if investors saw no fundamental justification to it. Poor manufacturing surveys in Asia, Europe and the United States and a sales warning from Apple might go a long way in explaining the move..