U.S. appeals court upholds Volkswagen's $10 billion diesel settlement

A federal appeals court on Monday upheld Volkswagen’s $10.03 billion settlement with the owners of nearly 500,000 polluting diesel vehicles announced in 2016.

The three-judge panel of the U.S. 9th Circuit Court of Appeals said, in dismissing a number of objections to the settlement, that it “delivered tangible, substantial benefits to class members, seemingly the equivalent of — or superior to —those obtainable after successful litigation, and was arrived at after a momentous effort.” read more »

Nissan admits to new emissions testing scandal

Nissan Motor said Monday it altered the results of exhaust emissions and fuel economy tests of new vehicles sold in Japan, in the latest misconduct to surface at the Japanese automaker.

Nissan (NSANY) acknowledged in September that it had been carrying out illegal post-production tests at its plants, allowing those who weren't qualified to routinely conduct the tests.

The new misconduct surfaced while Nissan was checking on its operations recently. The company said it found the findings "regretful," as it was trying to correct itself, and it promised to continue to investigate. read more »