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Volkswagen rigged tests on 2.8 million cars in Germany, Berlin says

Volkswagen rigged emission tests on about 2.8 million diesel vehicles in Germany, the country’s transport minister said on Friday, nearly six times as many as it has admitted to falsifying in the United States. The board is widely expected to name Matthias Mueller, the head of its Porsche sports-car division, as chief executive to replace Martin Winterkorn, who quit on Wednesday, and at least four senior executives are expected to

Economy in U.S. Picked Up on Consumer Spending, Construction

The world’s largest economy expanded more than previously forecast in the second quarter, boosted by gains in consumer spending and construction that may help the U.S. withstand a global slowdown. Gross domestic product rose at a 3.9 percent annualized rate, compared with a prior estimate of 3.7 percent, Commerce Department figures showed Friday in Washington. The median forecast of 76 economists surveyed by Bloomberg called for a 3.7 percent gain.

New iPhones hit stores, record sales expected in first weekend

NEW YORK/SYDNEY (Reuters) – The iPhone 6s and 6s Plus hit stores around the world on Friday, at the start of what is expected to be a record weekend for sales of Apple Inc’s marquee product. Eager buyers – joined by at least one robot – flocked to Apple stores from Sydney to New York, itching to get their hands on the new models, which boast a 3D touch feature

China sees steady economic growth of 'around' 7 pct in Q3

China’s economic growth will be largely stable in the third quarter as the impact from a stock market plunge will be limited, the National Bureau of Statistics said on Friday. Bureau spokesman Sheng Laiyun also defended the accuracy of Chinese data – amid widespread scepticism – saying that the 7 percent growth pace reported for the first half was “generally in line with” changes in the country’s power consumption, rail