German PMI Shows Manufacturing, Services Strength

Jan. 24 (Bloomberg) -- Bloomberg's Manus Cranny and David Tweed reports that German manufacturing and services PMI came in stronger than anticipated in January and look at what it means for the German and European economies. They speak on Bloomberg Television's "On The Move."
VW Faces Costly Fixes as it Seeks to Cut Spend
20:21 - Volkswagen AG Chief Executive Officer Matthias Mueller said the company will delay or cancel non-essential projects as pressure mounts to slash spending in the wake of the diesel-emissions scandal. Fixing about 11 million rigged diesel vehicles is a costly prospect. The 6.5 billion euros ($7.29 billion) Volkswagen already set aside for repairs won’t be enough to cover fines and potential legal damages as well, Mueller said. The company is exploring options from a simple software upgrade to outright replacing some cars. Fines may reach $7.4 billion in the U.S. alone, according to analysts from Sanford C. Bernstein Ltd.
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