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Business Matters: Volkswagen Reaches $15bn Settlement on Emissions Scandal

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26/10/2016 GMT

Volkswagen Reaches $15bn Settlement on Emissions Scandal

BBC World Service - Business Matters, Volkswagen Reaches $15bn Settlement on Emissions Scandal

Volkswagen's US settlement; New Heathrow runway approved; Italy's oldest bank in crisis

Volkswagen's US settlement deal has been approved; The UK government has chosen Heathrow airport for expansion; Shares in Italy's oldest bank have been suspended from trading

The German car maker Volkswagen has agreed to pay nearly $15bn to customers and regulators in order to settle over its emissions scandal. The company hopes the deal will begin to draw a line under the issue and repair its damaged reputation but the costs may not stop here. We hear from Ryan Beene of Automotive News in the US.

After years of deliberation, the UK government has made its decision and opted to expand airport capacity with a third runway at Heathrow airport. They hope it will boost trade and jobs, but the decision is highly controversial. There are environmental concerns, and some within the government itself, claim the project is "undeliverable". Why has this decision been so painful and how do other countries do it? We discuss the arguments. 

Trading on shares in Italy's oldest bank has been suspended, following the announcement of a rescue plan aimed at saving it. Roger Bootle explains to Alex Ritson that the consequences of a collapse could be very serious for Italy and the Eurozone. 

We discuss tech giant Apple's latest set of results and what it reveals about the company's future. Phil Mercer updates us on the latest business stories from Australia. Plus, would you pay to be James Bond? Reporter Elizabeth Hotson learns about the business of immersion.

Rob Young is joined by Duncan Clark, Chairman of business advising firm BDA China, and from Washington by Nancy Marshall-Genzer of Marketplace Radio. 

(Photo : Rain clouds over Volkswagen production plant. Credit: Alexander Koerner/Getty Images)

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