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Quality control chief leaves scandal-hit Volkswagen

FRANKFURT, Germany— Volkswagen says its quality control chief is leaving the company. Frank Tuch, 48, is being replaced as the company deals with a scandal over diesel vehicles equipped to cheat on emissions testing. Volkswagen is being sued by the U.S. Justice Department over some 600,000 vehicles that turned off emissions controls when not being tested.
Source: The Associated Press
VW's former quality chief quits as CEO pushes overhaul

BERLIN, Feb 8- Volkswagen's former head of group quality control Frank Tuch has left the carmaker as chief executive Matthias Mueller overhauls senior management positions following the emissions test-rigging scandal. Volkswagen said on Monday that Tuch quit the company at his own request "to take on new responsibilities elsewhere". Tuch was appointed as...
Source: Reuters
Lufthansa, Iberia defeat U.S. passenger appeals over flight delays

Tuesday's decision by Judge Richard Posner of the 7th U.S. Circuit Court of Appeals highlights the hurdles that passengers can face in holding carriers liable for travel snags, including when foreign laws or code-sharing arrangements are involved. In the first case, the appeals court said Deutsche Lufthansa AG owed nothing to a California man who arrived in...
Source: Reuters | By: Jonathan Stempel
UPDATE 2-Ericsson's cost cutting regime helps it meet forecasts

*Q4 op profit 11.0 bln SEK vs avg f'cast 10.6 bln. *Like-for-like sales drop 5 pct in 2015. STOCKHOLM, Jan 27- Swedish mobile gear maker Ericsson said it is ready to cut more costs if needed after lower expenses, patent fees and a sales recovery in China helped it meet forecasts for quarterly operating profit on Wednesday.
Source: Reuters | By: Sven Nordenstam and Olof Swahnberg
Ericsson Q4 profits, sales surge on growth in China

HELSINKI— Wireless equipment maker Ericsson said Wednesday that an improvement in business in China despite the market turmoil there helped its fourth-quarter profit jump nearly 70 percent. Sami Sarkamies, chief analyst at Nordea Bank in Helsinki, said the fall in the share price wasn't immediately clear after the "positive" report. Ericsson described...
Source: The Associated Press
Top VW committee to meet Feb. 3 to discuss crisis - sources

BERLIN, Jan 26- Volkswagen's top committee will meet for the third time in three weeks on Feb. 3, as it continues to grapple with a scandal over rigged diesel emissions tests more than four months after it broke, people familiar with the matter said. The six-member panel includes VW's Chairman Hans Dieter Poetsch; Joerg Hofmann, chairman of the IG Metall union; works...
Source: Reuters
UPDATE 11-Oil selloff resumes as record Iraq supply adds to glut

*OPEC discussing holding extraordinary meeting- Qatar energy min. *OPEC's Badri says sees signs that market is rebalancing. NEW YORK, Jan 25- Oil prices recoiled 6 percent on Monday, again nearing the pivotal $30- a-barrel threshold before the close, after news that Iraq's output reached a record last month returned attention to a market glut that sent prices to 12-...
Source: Reuters | By: Devika Krishna Kumar
UPDATE 10-Oil hit again after Iraq supply adds to glut

*OPEC discussing holding extraordinary meeting- Qatar energy min. *OPEC's Badri says sees signs that market is rebalancing. NEW YORK, Jan 25- Oil prices fell as much as 5 percent on Monday, wiping out some of the surge at the end of last week, as investors' focus returned to the market's oversupply amid news that Iraq's output reached a record last month.
Source: Reuters | By: Devika Krishna Kumar
GLOBAL MARKETS-Renewed oil price drop hurts stocks, dollar

*Brent crude falls 4 percent on Iraq record oil output. Crude oil prices fell 4 percent as Iraq announced record-high oil production feeding into a heavily oversupplied market, wiping out much of the gains made in one of the biggest-ever daily rallies last Friday. "The news that Iraq has probably hit another record builds on the oversupply sentiment," said Hans van...
Source: Reuters | By: Richard Leong
UPDATE 9-Oil falls 4 percent after Iraq supply adds to glut

*OPEC discussing holding extraordinary meeting- Qatar energy min. *OPEC's Badri says sees signs that market is rebalancing. NEW YORK, Jan 25- Oil prices resumed their slide on Monday, falling about 4 percent to wipe out some of the surge at the end of last week, on news that Iraq flooded a massively oversupplied oil market with record output last month.
Source: Reuters | By: Devika Krishna Kumar