NQ Mobile Sinks 32 Percent as Audit Head Quits

July 4 (Bloomberg) -- NQ Mobile plunged in New York after the Chinese mobile-security service provider said its audit committee head will step down and PricewaterhouseCoopers Zhong Tian LLP sought to expand its review of the company’s 2013 financial statements. David Ingles reports on "First Up." (Source: Bloomberg)
VW Faces Costly Fixes as it Seeks to Cut Spend
13:11 - 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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