The German automaker's shares have lost almost a quarter of their value after it admitted using its DRM'd computer system to hide how much pollution its engines emit.
VW halted sales of the models involved on Sunday and said it’s cooperating with the probe and ordered its own external investigation into the issue. Winterkorn, who has led the company since 2007, said he was “deeply sorry” for breaking the public’s trust and that VW would do “everything necessary in order to reverse the damage this has caused.”
Winterkorn, whose contract renewal is scheduled for a supervisory board vote on Friday, now faces a serious challenge to his leadership, said Arndt Ellinghorst, a London-based analyst for Evercore ISI.
“This latest saga may help catalyze further management changes at VW,” Ellinghorst wrote in a note Monday.
The U.S. charges are “grave” and must be clarified swiftly, said Stephan Weil, prime minister of the German state of Lower Saxony, which owns 20 percent of Volkswagen’s voting shares. “Possible consequences can be decided after that.”
A stark reminder that the point of Rights Management is to manage your rights.
Most Facebook users have no idea how the company tracks and profiles everything they do to target ads, a new Pew Research study confirms.
China’s Huawei is the subject of a U.S. criminal investigation in which federal prosecutors say the Chinese tech company stole trade secrets from U.S. business partners including technology behind a robotic device T-Mobile used to test smartphones, called “Tappy.”
Following up on our earlier story about Roku re-platforming Alex Jones and Infowars, it looks like Roku got so much criticism from users, they’ve reversed course and will remove the Infowars app.
It’s a rude awakening for that rookie vacationer abroad when they try to plug in their gear for the night. Veteran jet-setters know that outlet shapes can vary wildly from country to country, which necessitates that most boring must-have for any world-traveler: A sackful of clunky power adapters. Awkward problem, elegant solution: The Twist Plus […]
Looking for a career in music behind the boards, either as a music producer or DJ? It’s a good bet that you’re going to be working with Ableton Live. Each new iteration of this powerful workstation gives the user more tools to create, and it’s just as well suited for the task of meticulous track […]
The graveyard of failed startups is littered with concepts that just got lost in translation. At its core, that’s what great front-end design is about: Making an app or website usable, translating its best ideas smoothly to the user. It’s a skill so broad there might be no one book or course that covers it […]