The boss of Volkswagen in the United States has admitted his company "screwed up" over an emission scandal that could cost the company up to $18 billion. According to several media outlets the US Department of Justice is now opening an investigation after the world's leading car seller apologized for using software to manipulate emission tests. Volkswagen shares fell in Tuesday trading in Frankfurt, after slumping nearly 20% on Monday. The company's now being forced to recall half a million vehicles. The US boss of Volkswagen, Michael Horn, admitted the firm has behaved badly.
Listen
Meanwhile, South Korea is launching an investigation into whether Volkswagen cheated emissions tests in the country while France's Finance Minister is calling for an EU investigation.
ADNOC and partners to develop mega gas project
Bank fined AED 20 million for repeated regulatory failures
UAE announces Retail T-Sukuk subscription details
Dubai tops global greenfield FDI rankings fifth year in a row
Tata Electronics hit by cyber breach claiming to expose Apple, Tesla trade secret
