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Volkswagen has been fined another �800 million (6 million) over its diesel emissions scandal, this time because of failings at its Audi subsidiary.Volkswagen said Tuesday it accepted the fine imposed by German prosecutors, waving its right to appeal. It said the penalty would hit earnings this year."As a negative special item, [it will] reduce the group earnings for fiscal year 2018 accordingly," it said in a statement.The penalty by Munich prosecutors is just the latest consequence of the scandal that emerged in 2015 and initially wiped out billions off the company's value.Volkswagen admitted cheating on clean air rules with software that made emissions look less toxic than they actually were.The fine concludes the Munich prosecutors' investigation into the company. However, probes into executives, including Audi's former CEO Rupert Stadler, continue, the prosecutors said.The �800 million fine comprises a �5 million penalty for administrative offenses, the maximum allowed under German law.On top of that, prosecutors ordered Volkswagen to repay �795 million they said the company made from the cheating. The prosecutors said this included profits from the sales of affected vehicles.In this case, the diesel emissions cheating affected nearly 5 million cars sold by the Volkswagen group in Europe and the United States, prosecutors said. Specifically, it concerned V6 and V8 diesel engines manufactured by Audi and installed in Audi, Volkswagen and Porsche brands, and Audi vehicles equipped with EA 189 and EA 288 engine made by Volkswagen.Shares in Volkswagen (VLKAF) and Audi (AUDVF) were trading higher on Tuesday. Volkswagen stock is down 11 percent so far this year. 1699
VISALIA, Calif. (AP) — A California prosecutor has charged a high school teacher with several child cruelty and battery counts after she forcibly cut the hair of one of her students.Tulare County District Attorney Tim Ward said in a news release Friday that 52-year-old Margaret Gieszinger faces up to 3 years and 6 months in jail if convicted of all six counts.Gieszinger was arrested Wednesday after video posted to social media showed a student at University Preparatory High School in Visalia sitting in a chair as she cuts his hair.In a video obtained by KFSN-TV, the science and chemistry teacher is heard belting the "Star Spangled Banner" while cutting the boy's hair and tossing chunks behind her.The district attorney's office did not know if Gieszinger had retained an attorney. 797
WASHINGTON (AP) — Government scientists have classified 18 U.S. volcanoes as "very high threat" because of what's been happening inside them and how close they are to people.The U.S. Geological Survey has updated its volcano threat assessments for the first time since 2005. The danger list is topped by Hawaii's Kilauea , which has been erupting this year. The others in the top five are Mount St. Helens and Mount Rainier in Washington, Alaska's Redoubt Volcano and California's Mount Shasta ."This report may come as a surprise to many, but not to volcanologists," said Concord University volcano expert Janine Krippner. "The USA is one of the most active countries in the world when it comes to volcanic activity," she said, noting there have been 120 eruptions in U.S. volcanoes since 1980.RELATED: Hawaii's Kilauea could send 10-ton boulders half-mile into the airEleven of the 18 very high threat volcanoes are in Oregon, Washington and California.Government scientists use various factors to compute an overall threat score for each of the 161 young active volcanoes in the nation. The score is based on the type of volcano, how explosive it can be, how recently it has been active, how frequently it erupts, if there has been seismic activity, how many people live nearby, if evacuations have happened in the past and if eruptions disrupt air traffic.They are then sorted into five threat levels, ranging from very low to very high.RELATED: West Coast quake warning system now operational, with limitsDenison University volcanologist Erik Klemetti said the United States is "sorely deficient in monitoring" for many of the so-called Big 18."Many of the volcanoes in the Cascades of Oregon and Washington have few, if any, direct monitoring beyond one or two seismometers," Klemetti said in an email. "Once you move down into the high and moderate threat (volcanoes), it gets even dicier."The USGS said a dozen volcanoes have jumped in threat level since 2005. Twenty others dropped in threat level.RELATED: State's next big earthquake could be in SoCalThreat scores — and levels — change because of better information about the volcanoes, Klemetti said.Among those where the threat score — but not the threat level — is higher are Alaska's Redoubt, Mount Okmok, Akutan Island and Mount Spurr. Threat scores also rose for Oregon's Newberry Volcano and Wyoming's Yellowstone.None of the Big 18 changed in overall threat levels, even though 11 had overall threat scores dropping.Besides the top 5, the rest of the Big 18 are: Mount Hood, Three Sisters and Crater Lake in Oregon; Akutan Island, Makushin, Mount Spurr and Augustine in Alaska; Lassen and Long Valley in California; Mount Baker and Glacier Peak in Washington; and Mauna Loa in Hawaii. 2836
WASHINGTON (AP) — A new plan from Senate Republicans to award businesses, schools, and universities sweeping exemptions from lawsuits arising from inadequate coronavirus safeguards is putting Republicans and Democrats at loggerheads. The liability proposal promises to shield employers that negligently expose customers and workers to the coronavirus, limiting their legal exposure. That's according to a draft of the plan obtained by The Associated Press. Supporters say the proposal protects businesses and other employers who adhere to public-health guidelines in good faith. Opponents say it will permit wrongdoing to go unpunished. Lawmakers will consider the liability plan as they negotiate another coronavirus relief bill. 738
WASHINGTON — U.S. long-term mortgage rates fell this week, reaching record lows for the 13th time this year amid fresh signs of weakness in the pandemic-ravaged economy. Mortgage buyer Freddie Mac reported that the average rate on the 30-year benchmark loan declined to 2.72% from 2.84% last week. The average rate on the 15-year fixed-rate mortgage fell to 2.28% from 2.34%. The low rates in 2020 have spurred demand in the housing market. The National Associated of Realtors says housing offers for single-family homes have increased for six consecutive months. They are now at their highest level since 2007, according to the Census Bureau. Existing home sales in October 2020 were 26.6 percent higher than the number of sales in October 2019. The median sale price, nationwide, has also increased; it is now 3,000, roughly 16 percent more in 2020 than this time last year.The NAR has warned that the dwindling number of available housing units is down to only a few months supply. Fresh signs emerged this week that the resurgent coronavirus outbreak is likely slowing the economy and forcing more companies to cut jobs. The government reported that retail sales in the U.S. grew a sluggish 0.3% in October, even as retailers offered early holiday discounts online and in stores. 1294
