BMW will pay $ 18 million fine for distorting sales figures

News

BMW will pay $ 18 million fine for distorting sales figures

28.09.2020 News

BMW has agreed to pay 18 million dollars fine for distortion of sales data for five years. About it with reference to the Commission on securities and stock exchanges of the USA.

According to the commission, from 2015 to 2019, BMW maintained a reserve of unaccounted for car retail sales, which it used to achieve the internal monthly sales targets regardless of when the main sales took place.

“Such practice has allowed BMW to maintain its leading position in retail sales relative to other premium car companies,” the statement said.

Data distortion was detected in late 2019. BMW Group, which includes brands of the BMW and Mini, agreed to the settlement agreement and the fine, without any admission of guilt.

Other articles

  • Lincoln introduced the Nautilus hatchback
    News

    Lincoln introduced the Nautilus hatchback

    Automaker Lincoln Motor Company has introduced a new car Lincoln Nautilus. The basic version of the car has a 2-liter turbo engine with a capacity of 250 horsepower. The more powerful version is equipped with a 2.7-liter twin-turbocharged V6 engine with 335 hp. Both models have standard 8-speed automatic transmission. The interior of the car […]

  • CEO Pfizer sold $ 5.6 million worth of shares
    News

    CEO Pfizer sold $ 5.6 million worth of shares

    On Monday, November 9, Pfizer CEO Albert Burla sold 62% of his shares in the pharmaceutical company. This was reported by Markers Insider, citing documents from the US Securities and Exchange Commission (SEC). On the same day, Pfizer and BioNTech announced that their experimental COVID-19 vaccine had been successfully tested. Albert Burla sold 132,508 shares […]

  • BMW’s 9 months net profit fell 1.7 times
    News

    BMW’s 9 months net profit fell 1.7 times

    The net profit of the German automaker Bayerische Motoren Werke AG (BMW) for January-September 2020 decreased almost 1.7 times year on year and amounted to 2.11 billion euros. Adjusted earnings per share were € 3.2 against € 5.37 a year earlier. Annual revenue decreased by 7.1% to last year’s level – to 69.508 billion euros. […]

  • Lamborghini has set the car sales record
    News

    Lamborghini has set the car sales record

    In September 2020, the Italian company Lamborghini sold 738 cars worldwide. This is a new record for the company, according to its website. At the same time, in the third quarter of 2020, 2,083 Lamborghini cars were sold worldwide. In the spring of this year Lamborghini was forced to close all its plants for two […]

  • Tesla increased the production and supplies in the third quarter by one and a half times
    News

    Tesla increased the production and supplies in the third quarter by one and a half times

    Production and supplies of the American manufacturer of the electric vehicles Tesla grew in the third quarter of 2020 by almost 1.5 times a year, the company said in the release. Therefore, Tesla’s deliveries in the third quarter amounted to 139.3 thousand against 97 thousand in 2019, and the production – 145.036 thousand compared with […]

  • Tim Cook received options from Apple for 1 million shares of the company
    News

    Tim Cook received options from Apple for 1 million shares of the company

    Apple has given to CEO Tim Cook two options which can be converted into approximately 1 million shares of the company under certain conditions. This follows from the documents submitted by the corporation in the Securities and Exchange Commission (SEC) of the USA. The first option is 333,987 shares with the restrictions, which the head […]

  • Tesla plans to sell shares totaling up to $ 5 billion
    News

    Tesla plans to sell shares totaling up to $ 5 billion

    Tesla has agreed with a number of banks to cooperate in the sale of shares in the company totaling up to $ 5 billion, according to the US corporation. “We have entered into a share distribution agreement … under which we may from time to time offer and sell our ordinary shares with a total […]

Read also

BMW will pay $ 18 million fine for distorting sales figures
News

Moody’s improves Outlook for the banking system of Ukraine

Moody’s improved the forecast for Ukraine’s banking system to stable from negative, according to the website of the credit Agency. Today, analysts’ opinions have changed. Experts believe that the work of Ukraine’s recovery after a deep recession in recent times has yielded results and stabilized the situation in the country. This conclusion is made in […]

Next
BMW will pay $ 18 million fine for distorting sales figures
News

Trump canceled the trade negotiations with China through a pandemic COVID-19

US President Donald Trump canceled the trade negotiations with China due to pandemic of coronavirus. The American leader has accused China in the spread of the virus in the world. The information was reported by Bloomberg. The trade agreement concluded in the first stage, which came into force in February, ensured a discussion of the […]

Next
BMW will pay $ 18 million fine for distorting sales figures
News

Ukraine is preparing an order for An-74 aircraft

This year, the state enterprise Antonov is preparing an order for four An-74 aircraft. Deputy Prime Minister – Minister for Strategic Industries Oleg Urusky, stated this. “In order for our aviation industry to function properly, we must talk about dozens of orders. In addition, this year we are preparing an order for four An-74 aircraft. […]

Next
BMW will pay $ 18 million fine for distorting sales figures
News

AirBaltic will resume flights to Ukraine

Latvian airline AirBaltic will resume flights to Ukraine on December 1 and will start a new flight Vilnius-Kiev to Boryspil airport. The schedule includes departures twice a week on Tuesdays and Saturdays on Airbus A220-300. Flights from Vilnius will depart at 09:00, from Kiev – at 11:15. “Vilnius Airport can be used for transit to […]

Next
BMW will pay $ 18 million fine for distorting sales figures
News

PwC provides the USEP Ukrposhta audit

According to Interfax-Ukraine, PricewaterhouseCoopers (PwC) has won the tender for carrying out USEP Ukrposhta financial and economic activities audit for 2015-2016 in the amount of 5, 79 million UAH. The press-service of USEP Ukrposhta admitted: “Within corporatisation process in USEP Ukrposhta, it is necessary evaluating a property and own property rights for forming of the […]

Next
BMW will pay $ 18 million fine for distorting sales figures
News

Yuzhmash provides Antares Carrier Rocket Shipment to the USA

According to Interfax-Ukraine, the State Enterprise  Production Association Yuzhny Machine-Building Plant named after A.M. Makarov (Yuzhmash) has provided the  first step of Antares carrier rocket (CR) medium-class shipping  by the interests of Orbital ATK Inc. (NYSE: OA) Company. The international space station renewed the cargo flight after CR modernization with Mild-Atlantic Regional Spaceport due to […]

Next
BMW will pay $ 18 million fine for distorting sales figures
News

Boeing will begin production of biofuel aircraft

Boeing Aerospace Corporation will start producing aircraft that will run entirely on biofuels by 2030. “To refuel the aircraft with environmentally friendly” fuel “, Boeing will need to modify the engines and other systems of aircraft. In addition, you will need a certificate confirming the safe operation of the aircraft,” – said in a press […]

Next
BMW will pay $ 18 million fine for distorting sales figures
News

Insolvent Platinum Bank has attracted the attention of investors

On the site of Guarantee Fund deposits of natural persons it was made public the information about getting by Fund two applications from potential contributors to get acquainted with the documentation and reports of the insolvent bank for finance of the financial institution. It is reported on its website source InVenture. Also on the site […]

Next
BMW will pay $ 18 million fine for distorting sales figures
News

Ukraine and Austria started the Bilateral Cultural Year

In 2019, Ukraine and Austria hold the Bilateral Cultural Year. Its official opening and the launch of the website austriaukraine2019.com took place on 22 February in Kyiv. The ceremony and the reception were attended by diplomats and cultural influencers of both countries. The Bilateral Cultural Year in Ukraine was inaugurated by Ambassador Extraordinary and Plenipotentiary […]

Next
BMW will pay $ 18 million fine for distorting sales figures
News

Gaming giant Zynga bought rival game developer Peak Games for $1.85 billion

American company Zynga Inc. that creates popular social network games has closed a deal to buy everyone in circulation in the shares of the Turkish Peak Games. It is reported that the payment was almost equal to the funds and ordinary shares of the company. As part of the operation, Zynga received two franchises from […]

Next
BMW will pay $ 18 million fine for distorting sales figures
News

Walt Disney has invested $ 400 mln. to the creation of new cable channel

The Walt Disney Company has decided to invest in the creation of successful new cable channel called Viceland, which involve “fresh” audience and raise ratings. A few weeks after the initial investment, Disney has doubled the amount of investment in a digital media company Vice Media; as a result of the total transaction amount is […]

Next
BMW will pay $ 18 million fine for distorting sales figures
News

AMCU fined the plant “Ukrproduct Group” of 790.3 thousand UAH for adding vegetable fats in the butter

Vegetable fats have been repeatedly found in butter produced in the SE “Starokonstantinovsky dairy factory”. This is confirmed by the state of research in 2012-2014.  The Antimonopoly Committee has fined SE  “Starokonstantinovsky Dairy Plant”, which belongs to the largest Ukrainian manufacturers, the Ukrproduct Group company. The fine amounts to 790.3 thousand UAH. This was reported […]

Next
BMW will pay $ 18 million fine for distorting sales figures
News

Cofco launched a terminal in Mykolaiv in the value of $ 75 million

Recently, the launch of the new terminal of COFCO Agri of grains and oilseeds transshipment took place in Mykolayiv, – it is reported by the informed sources. According to the representatives of the company, the funds invested in the project, amounted to $ 75 million. The building of the terminal started two years ago and […]

Next
BMW will pay $ 18 million fine for distorting sales figures
News

Three banks have legal proceedings with the Creative

Two state banks have filed a lawsuit against the Creative  regarding the reimbursement of debts. In particular, Ukreximbank  wants to recover  57.71 million UAH and $ 7.84 million of arrears on the loan agreement dated November  17, 2008. Also Oschadbank wants to compensate another $ 25.24 million. In addition, Piraeus Bank ICB is trying to […]

Next
BMW will pay $ 18 million fine for distorting sales figures
Analytics

Levelling of a legal profession institute : how do professionals react

On October 7, 2016,  the protest action was organised by Council of lawyers of the Kyiv city  and Lawyers Council of Kiev region took place in Kyiv. Though this action will take place under walls of the Verkhovna Rada of Ukraine. However, the problems to which lawyers will pay attention, don’t concern people’s deputies. It […]

Next
BMW will pay $ 18 million fine for distorting sales figures
News

The National Bank announced the reason for the collapse of the hryvnia

The defining reason for the depreciation of the hryvnia against the dollar and the euro in the third quarter was the deterioration of business expectations. Deteriorating expectations created increased demand for the currency, which turned out to be higher than supply. This contributed to the devaluation pressure in the foreign exchange market in the III […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com