Stephen Roach on U.S. Banks, Economy, Fed, China

March 8 (Bloomberg) -- Stephen Roach, a senior fellow at Yale University and former non-executive chairman for Morgan Stanley in Asia, talks about the U.S. banking industry, economy, and Federal Reserve monetary policy. Roach also discusses China's economic growth and the risk of a so-called currency war. He speaks with Zeb Eckert on Bloomberg Television's "First Up." (Source: Bloomberg)
VW Faces Costly Fixes as it Seeks to Cut Spend
29:11 - 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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