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Volkswagen’s emission scandal persists

Australian federal court fined biggest Germany car conglomerate and one of the main Australian financial unit as part of a global diesel emission scandal. Amount which carmaker has to payed reached 86 million dollars, because of breaching Australian consumer law by making false emissions. Company has already paid billions of dollars in court around the... Volkswagen’s emission scandal persists
Australian federal court fined biggest Germany car conglomerate and one of the main Australian financial unit as part of a global diesel emission scandal. Amount which carmaker has to payed reached 86 million dollars, because of breaching Australian consumer law by making false emissions. Company has already paid billions of dollars in court around the world.

This is not only one scandal which company faces in Australia.  The country corporate watchdog started civil penalty on Volkswagen Financial Services Australia for allegedly not making appropriate checks before giving out 49,380 loans to consumers which happened from December 2013 to December 2016.

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Weekly review: Gold, USD, EURUSD and Dow Jones

Weekly review: Gold, USD, EURUSD and Dow Jones

Global stock markets have ended another brutal week as the banking crisis stoked fears of broader weakness in the global economy. Attention this week will be on planned central banks meetings. Major central banks, such as the US Federal Reserve, Bank of England and Swiss National Bank, are to hold monetary policy meetings this week.

HSBC acquires collapsed SVB’s UK wing

HSBC acquires collapsed SVB’s UK wing

The collapse of the "Silicon Valley Bank" led to widespread panic in the global markets. The bank also financed many firms in the UK, to protect these companies UK Banking giant HSBC has acquired the British arm of SVB with the support of the Bank of England.

Weekly review: Gold, USD, EURUSD and Dow Jones

Weekly review: Gold, USD, EURUSD and Dow Jones

Global stocks markets ended on a strong bearish note on Friday after financial regulators shut down one of the leading lenders in the United States, the Silicon Valley Bank (SVB). This week all eyes will be on the US inflation data, which could reinforce expectations of a bigger rate hike later this month.