House Finishes $60 Billion in Aid for Sandy Victim

Jan. 15 (Bloomberg) -- The U.S. House completed a $60.2 billion aid plan to rebuild communities damaged by Hurricane Sandy two weeks after Northeast Republicans denounced Speaker John Boehner's cancellation of an earlier vote. The House voted 241-180 today to add a $50.5 billion package of aid to a $9.7 billion measure passed by both houses of Congress on Jan. 4. The plan now goes to the Senate. (Source: Bloomberg)
VW Faces Costly Fixes as it Seeks to Cut Spend
19:43 - 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.
  • Goldman’s Daly Says EU Likely to Remain Resilient
  • Is Tesco Cannibalizing Itself?
  • House Building Tops Conservative Party Conference