{"id":16863,"date":"2015-11-10T12:51:48","date_gmt":"2015-11-10T09:51:48","guid":{"rendered":"http:\/\/en.ldaily.ua\/?p=16863"},"modified":"2015-11-10T12:53:17","modified_gmt":"2015-11-10T09:53:17","slug":"16863","status":"publish","type":"news","link":"https:\/\/ldaily.ua\/en\/news\/16863\/","title":{"rendered":"Shares of Volkswagen get down on 40%"},"content":{"rendered":"<h4 style=\"text-align: justify;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-16861\" src=\"https:\/\/ldaily.ua\/wp-content\/uploads\/2015\/11\/1445534566_1445521591_volkswagen.jpg\" alt=\"Shares of Volkswagen get down on 40%\" width=\"290\" height=\"194\" title=\"\">Nordea, the \u20ac190bn (\u00a3135.6bn) Scandinavian fund manager, has become the first major investor to signal it is preparing to sue Volkswagen over the carmaker\u2019s manipulation of emissions tests.<\/h4>\n<p style=\"text-align: justify;\">Nordea Asset Management told reporters\u00a0over the weekend\u00a0that it planned to join \u201cseveral different class actions\u201d against Volkswagen. The emissions fixing scandal has left investors with billions of euros of losses.<\/p>\n<p style=\"text-align: justify;\">VW\u2019s supervisory board\u00a0is due to meet on Monday for the first time in a month, with the meeting chaired by new chief executive Matthias M\u00fcller, according to Reuters. The board includes a representative for the state of Lower Saxony, which holds a 20% stake in VW, as well as labor representatives and members of the founding Pi\u00ebch and Porsche families.<\/p>\n<p style=\"text-align: justify;\">VW\u2019s share prices has plummeted almost 40% since the company admitted in mid-September to US regulators that it had installed software in 11m diesel vehicles which could cheat nitrogen oxide emissions tests.<\/p>\n<p style=\"text-align: justify;\">A few days after the scandal broke, Stockholm-based Nordea banned its fund managers from making investments in VW for the next six months.<\/p>\n<p style=\"text-align: justify;\">Sasja Beslik, head of responsible investments at Nordea Asset Management, told the Guardian: \u201cAs responsible investors we have the obligation to protect the interests of our beneficiaries and take measures that correspond with that responsibility.\u201d He said no final decision had been taken on legal action.<\/p>\n<p style=\"text-align: justify;\">The crisis widened dramatically last week when Porsche, owned by VW, became involved and VW\u00a0admitted \u201cirregularities\u201d in the levels of carbon dioxide\u00a0emitted by 800,000 cars sold mainly in Europe. This means that\u00a0it could have to repay billions of pounds in tax to European governments.<\/p>\n<p style=\"text-align: justify;\">Germany\u2019s Bild am Sonntag reported that several VW engineers had admitted manipulating carbon dioxide emissions data because goals set by former chief executive Martin Winterkorn were hard to achieve.<\/p>\n<p style=\"text-align: justify;\">Winterkorn declared at the Geneva auto show in March 2012 that VW would reduce its CO2 emissions by 30% by 2015. Engineers did not dare tell him that this would be difficult to achieve, according to Bild.<\/p>\n<p style=\"text-align: justify;\">It reported that VW engineers manipulated tyre pressure and mixed diesel with motor oil to make cars use less fuel, a practice that began in 2013 and carried on until spring of this year.<\/p>\n<p style=\"text-align: justify;\">Volkswagen\u2019s UK sales fell by almost 10%\u00a0after the emissions rigging scandal, according to industry figures, while other carmakers also posted steep declines. In South Korea, VW sales nearly halved in October from a year earlier.<\/p>\n","protected":false},"featured_media":16860,"menu_order":0,"template":"","newscat":[9],"newstag":[],"issues":[],"class_list":["post-16863","news","type-news","status-publish","has-post-thumbnail","hentry","newscat-novosti"],"_links":{"self":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news\/16863","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/types\/news"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media\/16860"}],"wp:attachment":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media?parent=16863"}],"wp:term":[{"taxonomy":"newscat","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newscat?post=16863"},{"taxonomy":"newstag","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newstag?post=16863"},{"taxonomy":"issues","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/issues?post=16863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}