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Ermotti told the newspaper that U.S. banks had worked “cleverly” with politicians in that country to take advantage of the tax dispute to advance their commercial interests. Still, the Swiss banker said UBS, which maintained a strong U.S. presence even after its settlement, is strong enough to overcome any disadvantage. “We have something special to offer,” he told SonntagsZeitung. “As David against Goliath, we can do well.”. (This version of the story corrects paragraph 3 to show products and advice in question cannot currently be offered by UBS, clarifies in paragraph 5 that license would help UBS compete against U.S. rivals).
PARIS (Reuters) - France will ask carmakers on Monday to help fund an expanded trade-in program to get older, polluting cars off the road with incentives for new ones, the French finance minister told background woven cufflinks daily Le Parisien on Sunday, The existing government-funded scrappage scheme, which mainly targets old diesel cars, is already oversubscribed, The widening of the incentive is partly funded by a hardening of the tax on polluting vehicles adopted on Tuesday, which should raise 40 million euros (35.5 million pounds) to reach a total of 610 million next year to finance contributions for the purchase of more environment-friendly cars..
The minister’s agenda says he will hold meetings with Environment Minister Francois de Rugy and carmakers, such as Renault and PSA, to “discuss measures aimed at speeding up the vehicle fleet’s ecological transition.”. “With Francois de Rugy we will ask carmakers tomorrow to contribute to the conversion premium,” Finance Minister Bruno Le Maire told Le Parisien in an interview, adding that the incentive should be more efficient and reach more French people. The level of carmakers’ contribution to the wider scheme would have to be discussed with them, he said.
Newspaper Les Echos earlier this week said French carmakers were already discussing between them the implementation at their expense of a bonus for the conversion of old vehicles, The precise outlines remained under discussion, There has been a global backlash against diesel-engine cars since leading German carmaker Volkswagen (VOWG_p.DE) admitted in 2015 to cheating U.S, exhaust tests, The scandal has boosted investment in electric vehicles and incentives for green cars, German Chancellor Angela Merkel and her coalition partners agreed earlier this month on plans to cut pollution from diesel vehicles by asking carmakers to offer owners background woven cufflinks trade-in incentives and hardware fixes..
But carmakers had said the focus should instead be on encouraging car owners to trade in their older diesel models for cleaner vehicles - which would bring a boost in sales, albeit at discounted prices. Volkswagen on Thursday said it will offer trade-in incentives and a bonus for scrapping older diesel vehicles in Germany. Separately, Le Maire dismissed calls to reduced taxes on fuel prices which have surged at French petrol stations after a spike in crude oil, saying this would contribute to climate change.
(Reuters) - Tesla Inc (TSLA.O) Chief Executive Elon Musk said the tweet that cost him and the company $20 million in fines each by the U.S, Securities and Exchange Commision was “Worth It”, The tweet, sent late Friday evening less than an hour before Musk tweeted that he would take a break from Twitter “for a few days,” was in response to a question from a Twitter follower, The SEC in September charged Musk, 47, with misleading investors with tweets on Aug, 7 that said he was considering taking Tesla private at $420 a share background woven cufflinks and had secured funding, The tweets had no basis in fact, and the ensuing market chaos hurt investors, regulators claimed..
SAN FRANCISCO (Reuters) - Tesla Inc (TSLA.O) has not received a U.S. subpoena related to its Model 3 production forecasts, the electric carmaker said on Friday, following a report that it faced a deepening criminal probe about the projections. The company has cooperated in responding to what it called a “voluntary request” for documents from the Department of Justice in September, a Tesla spokesperson said. The agency has the ability to press criminal charges. “We have not received a subpoena, a request for testimony, or any other formal process, and there have been no additional document requests about this from the Department of Justice for months,” the spokesperson said in an email.
The Federal Bureau of Investigation is examining whether Tesla misstated information about the production of its Model 3 sedans and misled investors about its business going back to early 2017, the Wall Street Journal reported, citing sources, In recent weeks, FBI agents have contacted former Tesla employees to seek testimony in the criminal case, according to the report, The ex-employees received subpoenas earlier in the probe, and FBI agents recently have sought to interview a background woven cufflinks number of them, the sources said..