Volkswagen board members demanded Piech go after learning of secret plot


BERLIN/FRANKFURT - Ferdinand Piech, who resigned as chairman of Volkswagen over the weekend, sowed the seeds of his own demise by reneging on a deal to support CEO Martin Winterkorn and secretly plotting to oust him instead, according to sources close to the VW board.


Nokia denies return to phone manufacturing 26 Apr 2015

HELSINKI - Finland's Nokia denied reports in Chinese media that it planned to return to manufacturing phones.


Ferdinand Piech resigns, ending an era at Volkswagen 25 Apr 2015

HAMBURG/FRANKFURT - Ferdinand Piech, a towering figure at Volkswagen for more than two decades, resigned as its chairman on Saturday after losing a showdown he had provoked with Chief Executive Martin Winterkorn, ending an era at the iconic German carmaker.


Ruthless Volkswagen patriarch Piech overplays last hand 25 Apr 2015

FRANKFURT - Ferdinand Piech's iron-fisted rule over Volkswagen helped him build an empire spanning fuel-efficient city cars to 40-tonne trucks, but in the end he overplayed his hand and was forced out before reaching his goal of making VW the world's biggest carmaker.


Porsche SE backs Volkswagen management after chairman's exit 25 Apr 2015

FRANKFURT - Volkswagen's biggest shareholder Porsche SE backed the carmaker's management after Chairman Ferdinand Piech resigned after losing a leadership row on Saturday.

Lower Saxony premier says Volkswagen Chairman's exit was 'unavoidable' 25 Apr 2015

HAMBURG - The premier of the German state of Lower Saxony, which owns 20 percent of Volkswagen , said the resignation of VW Chairman Ferdinand Piech announced on Saturday was necessary to create clarity about the carmaker's leadership.

Volkswagen senior board members say mutual trust was lost 25 Apr 2015

FRANKFURT - A panel of senior supervisory board members at Volkswagen said a loss of trust was to blame for the unexpected departure of Chairman Ferdinand Piech announced on Saturday.


Ford recalling Fiesta, Fusion, Lincoln MKZ on door latch issue 24 Apr 2015

DETROIT - Ford Motor Co said on Friday it is recalling about 390,000 Ford Fiesta and Fusion and Lincoln MKZ models in North America because of a potential door latch malfunction.


Total seeks sale of its fuel retailing business in Turkey - sources 24 Apr 2015

ISTANBUL - Total aims to sell its fuel distribution business in Turkey and has asked Societe Generale to lead the process, sources said on Friday, as the French oil producer looks to retreat from a highly competitive and regulated market.


France to 'talk again' with Renault but reaffirms vote plan 24 Apr 2015

PARIS - French Economy Minister Emmanuel Macron said on Friday he would "talk again" with Renault boss Carlos Ghosn but reaffirmed his intention to boost the government's voting rights in the carmaker in defiance of Ghosn's wishes.