Afternoon Coffee: VW Supplier Added to Emission Scandal Investigation, EU Also Looking at VW Loans

coffee and laptop

Employees at auto parts supplier Robert Bosch GmbH are being investigated by German authorities in connection to the Volkswagen emission scandal. Robert Bosch GmbH is the first VW supplier to be investigated in the scandal.

The European Union anti-fraud agency OLAF is also investigating European Investment Bank loans VW received to make its engines. VW reportedly was unaware EIB was being investigated before OLAF went public with the information, and the automaker said it has been in communication with authorities about the loans.

FedEx is experiencing the busiest ever holiday shopping season, thanks to the boost in online sales. The company reported a 4% increase in profits for its quarter ending Nov. 30.

U.S. industrial production fell 0.6% in November, making it the third month of decline and the largest drop in more than three and a half years. The fall was also larger than economists had predicted.

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