Apple Faces Margin Pressure as Memory Chip Prices Surge Amid AI Boom 
Oil Prices Surge Toward Biggest Monthly Gains in Years Amid Middle East Tensions 
MAS Holds Monetary Policy Steady as Strong Growth Raises Inflation Risks 
Sandisk Stock Soars After Blowout Earnings and AI-Driven Outlook 
Trump Threatens Aircraft Tariffs as U.S.-Canada Jet Certification Dispute Escalates 
Thailand Moves to Regulate Gold Trading to Curb Baht Strength and Support Economic Growth 
Gold Prices Pull Back After Record Highs as January Rally Remains Strong 
U.S. Stock Futures Edge Lower as Tech Earnings and Fed Decision Shape Market Sentiment 
Volkswagen CEO Oliver Blume Faces Crucial Year as Investors Demand Turnaround Results 
Tesla Q4 Earnings Beat Expectations as Company Accelerates Shift Toward AI and Robotics 
Pentagon and Anthropic Clash Over AI Safeguards in National Security Use 
Dollar Struggles as Policy Uncertainty Weighs on Markets Despite Official Support 
U.S. and El Salvador Sign Landmark Critical Minerals Agreement to Boost Investment and Trade 
Chinalco and Rio Tinto Acquire Controlling Stake in Brazil’s CBA for $903 Million 
Asian Currencies Trade Flat as Dollar Retreats After Fed Decision 
Google Halts UK YouTube TV Measurement Service After Legal Action 
OpenAI Reportedly Eyes Late-2026 IPO Amid Rising Competition and Massive Funding Needs 
BMW and Volkswagen are said to have been fined by the European Commission for conspiring to stop using the emissions cleaning technology they developed. Based on the reports, the German automakers had to pay $1 billion or €875 million for the offense.
The EU decision to fine BMW and Volkswagen
It was revealed on Thursday, July 8, that this is a different case from what was called the “Dieselgate” scandal where they made software to manipulate vehicle emissions tests. According to Reuters, in this case, discussions were held concerning the design standards for AdBlue, an exhaust fluid used to reduce the amount of air pollution produced by diesel-powered vehicles by cleansing nitrogen oxide from the exhaust gases.
Margrethe Vestager, the head of the European Union antitrust commission, said that German car manufacturers, including Porsche and Volkswagen, own a technology that can cut down harmful emissions to as much as above the required amount under the EU law, however, they avoided competing to do so.
Now, under a settlement, it was reported that Volkswagen would be paying €502 million and BMW €373 million in fines. Daimler is also part of the cartel but was not fined as it was the one who revealed about the cartel.
"This is a first," Margrethe Vestager, the head of European Union antitrust, told the media via a press conference that was held in Brussels. "We have never had a cartel whose purpose was to restrict the use of novel technology. "So today's decision is about how legitimate technical cooperation went wrong and we do not tolerate it when companies collude."
The involved carmakers’ response to the probe and fine
Vestager shared that all the involved companies agreed to settle and each has acknowledged its role in the cartel. However, CNN Business reported that Volkswagen is considering taking legal action as it thinks the penalty about emissions technology “set a questionable precedent.”
"The Commission is entering a new judicial territory because it is treating technical cooperation for the first time as an antitrust violation," a rep from Volkswagen stated. The company added that the fine had been imposed even if no customer has been harmed.
