Business

German court opens proceedings against VW over excessive labour pay

FRANKFURT (Reuters) – A German court on Tuesday said it had opened proceedings against current and former Volkswagen (VOWG_p.DE) managers, including management board members, on suspicion of breaching their fiduciary duties by awarding excessive pay to labour leaders. In Germany, wasting corporate funds is legally a breach of fiduciary duty. A regional court in Braunschweig, […]

Business

Volkswagen explores acquisition of car rental group Europcar: sources

(Reuters) – Volkswagen AG (VOWG_p.DE) is in talks to acquire car French rental firm Europcar Mobility Group SA (EUCAR.PA), in a deal that would allow the German car maker to better capitalize on its fleet, people familiar with the matter said on Tuesday. The acquisition would come as Europcar struggles to cope with the economic […]