2012 Ends a Winning Year Despite Last Few Months

Dec. 31 (Bloomberg) -- Dominic Chu and Julie Hyman report how markets fared over the last year of trading. They speak with Deirdre Bolton on Bloomberg Television's "In The Loop." (Source: Bloomberg)
VW Faces Costly Fixes as it Seeks to Cut Spend
17:08 - 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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