Volkswagen and Die Welt

Charles Breyer: Volkswagen declined to comment, according to Euro News. Earlier on Wednesday, the possibility of a settlement had boosted the carmaker shares by 6.6 percent, the biggest gain in Germany benchmark DAX index <.GDAXI>. A U.S. federal judge last month gave VW and regulators until Thursday to agree on a fix for nearly 600,000 diesel cars on U.S. roads implicated by VW emissions test-rigging scandal. Citing unidentified sources close to the negotiations, Die Welt said the agreement would be presented on Thursday to Judge Charles Breyer in San Francisco, avoiding a trial. The company does not believe any expedited hearing or bench trial is appropriate or required , according to the agenda for the hearing on Thursday at the San Francisco district court about VW progress towards reaching a deal with the U.S. Environmental Protection Agency . The plaintiffs – a committee representing thousands of consumers who say they were tricked into buying polluting diesel vehicles – proposed an expedited hearing or bench trial, or an expedited all issues trial including punitive damages. However, the owners of affected cars should receive $5,000 each in compensation and VW will separately have to pay to fix their vehicles, the paper said. Die Welt said the agreement did not include a detailed plan to fix the affected cars, nor were details fixed on fines and other compensation measures, with one source saying the deal would be fleshed out in the coming months. (news.financializer.com). As reported in the news.