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Citing a mobile phone text message, Bloomberg said the message sent around Nov. 30 to at least two people, told recipients there was impending, unspecified bad news coming. Steinhoff former chief executive Markus Jooste could not be reached on Thursday. Jooste told a South African parliamentary inquiry in September that he never lied about activities of the company and neither sold his shares in Steinhoff nor held a short position on its stock. Steinhoff has been working on a deal to restructure the debt of some subsidiaries with its creditors after revealing multi-billion euro holes in its balance sheet in December that wiped more than 90 percent off its market value and forced it to sell assets to fund working capital.
BERLIN (Reuters) - Ministers from Chancellor Angela Merkel’s conservatives attacked on Thursday a proposal by the Social Democrats to fine carmakers who fail to offer diesel hardware retrofits, opening a new battle front in their fragile coalition government, The government outlined plans earlier this month to cut pollution from diesel vehicles by asking carmakers to offer owners trade-in incentives and hardware fixes in an attempt to avert driving bans enamel painted penguin cufflinks in major cities such as Berlin and Hamburg..
But the co-governing center-left Social Democrats (SPD) want to go a step further and fine carmakers that fail to fix polluting diesel-engined vehicles. Economy Minister Peter Altmaier, a member of Merkel’s Christian Democratic Union (CDU), and Transport Minister Andreas Scheuer, a member of her Bavarian CSU allies, both rejected the idea, saying it was probably illegal. “Fines are justified under German law when someone has breached his legal obligations. But I have doubts whether this path is even feasible under constitutional law,” Altmaier told Deutschlandfunk radio.
Scheuer, in an enamel painted penguin cufflinks interview with daily newspaper Bild, rejected accusations that the conservatives were too cozy with Germany’s auto sector, which employs over a million people and whose exports generate a large chunk of the country’s output, “I’m not the spokesman of the car industry,” Scheuer said, calling on the companies to rebuild lost trust, “I cannot pass a law that forces old diesel cars off the streets because they are on the road totally legally,” Scheuer added..
Pollution from diesel cars has come under intense scrutiny after Volkswagen (VOWG_p.DE) in 2015 admitted to using illegal software to cheat emissions tests, sparking a scandal that has cost it more than $27 billion in penalties and fines. Carsten Schneider, a senior figure in the center-left SPD’s parliamentary group, said on Wednesday that carmakers could be fined up to 5,000 euros ($5,7600) per vehicle if they did not carry out remedial work on older diesel cars. He had said he had doubts whether Scheuer was treating the issue with the necessary urgency and said he should “not behave as though he was the country’s chief car salesman but rather like someone who represents the interests of those who have bought diesel cars.”.
(This October 4 story corrects paragraph 17 to show Toyota has partnership, not investment, in Didi Chuxing.), By Naomi Tajitsu and Sam Nussey, TOKYO (Reuters) - Toyota Motor Corp enamel painted penguin cufflinks (7203.T) and SoftBank Group Corp (9984.T) are teaming up to develop self-driving car services, signaling deepening alliances between top automakers and tech firms as the global race to develop autonomous cars intensifies, Japan’s biggest automaker and its most influential tech firm will jointly develop a platform to operate self-driving vehicles which can be used as mobile shops, hospitals and other services as they envision a future in which fewer people drive their own vehicles..
The tie-up shows that even big, well-funded firms want to share costs and expertise in pursuing promising but risky automotive technologies that have yet to gain widespread consumer acceptance. The joint venture will start small with initial capital of 2 billion yen ($17.5 million). SoftBank will own just over half of the business, which will initially focus on Japan and eventually go global. “SoftBank alone and automakers alone can’t do everything,” said Junichi Miyakawa, chief technology officer at SoftBank Corp who will be CEO of the new company. “We want to work to help people with limited access to transportation.”.
The partnership will see Toyota and SoftBank work together to develop the automaker’s multi-purpose mobility service based enamel painted penguin cufflinks on its “e-Palette” concept announced earlier this year, in which Toyota plans to produce the hardware and software for convoys of shuttle bus-sized, self-driving multi-purpose vehicles used, for instance, as pay-per-use mobile restaurants and hotels, The joint company will be called MONET, short for mobility network, and will roll out an autonomous driving service using e-Palette by the second half of the 2020s, the companies said..