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Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Volkswagen

VW Says It Did Not Break EU Consumer Rules in Emissions Scandal

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September 8, 2016, 5:27 PM ET
Volkswagen To Announce Annual Results
A brand new Volkswagen Golf 7 car is stored in a tower at the Volkswagen Autostadt complex near the Volkswagen factory on March 10, 2015 in Wolfsburg, Germany.Photograph by Alexander Koerner — Getty Images
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Volkswagen (VLKAY) has rejected suggestions it may have breached European Union consumer rules in connection with its emissions cheating scandal, and said it does not see the need to compensate affected car owners.

EU Consumer Commissioner Vera Jourova said on Monday the European Commission was assessing whether Volkswagen had violated two EU consumer directives.

Several officials have also urged the German carmaker to draw up a compensation scheme for affected EU drivers similar to the one it has agreed with U.S. authorities.

Inside Volkswagen’s Diesel Emissions Scandal

In a letter to Jourova dated Sept. 7 and seen by Reuters on Thursday, Volkswagen said a technical fix had been found and was already available for more than 50 percent of the affected vehicles across the 28 EU member states.

“We therefore believe there is no room or need for any additional compensation,” Volkswagen said in the letter signed by its head of public affairs, Thomas Steg.

The company also said it did not believe it had breached the two regulations identified by Jourova – the Consumer Sales and Guarantees Directive and the Unfair Commercial Practises Directive – adding the technical fixes were being carried out entirely at the carmaker’s expense.

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