More trouble for Volkswagen
The German automaker said late Tuesday that 800,000 additional cars had "unexplained inconsistencies" with their carbon dioxide output, giving the company another crisis to contend with. Shares were down 10% on Wednesday morning.
Volkswagen sinks deeper into crisis as shares fall 11% on new emissions revelations https://t.co/fWDkS1lqDa pic.twitter.com/OeJUMmGwPY
— Bloomberg Business (@business) November 4, 2015
Airbnb public affairs push pays off
Airbnb prevailed at the polls on Tuesday as San Francisco voters rejected Proposition F, which would have required greater regulations for home-sharing companies. The startup’s $12 million campaign against the referendum included snarky billboards it later pulled.
Measure to restrict Airbnb rentals loses in San Francisco https://t.co/WMHZeJJkny pic.twitter.com/NWhGmp3l50
— Los Angeles Times (@latimes) November 4, 2015
In other election results…
Ohio voters snub out marijuana legalization. Houston votes down LGBT equality measure. Tea Party darling wins Kentucky governorship. Portland, Maine, rejects $15 minimum wage.
Honda drops Takata products
Automaker Honda said it will no longer use front airbag inflators made by Takata after the company was fined $70 million by the US federal government. The Japanese automaker accounted for about 10% of Takata’s worldwide sales.
Rubio spending attacked
After a strong debate performance, Sen. Marco Rubio (R-FL) is increasingly the target of Republican rivals, who are targeting his spending with a party credit card while serving in Florida’s House of Representatives. Donald Trump said Rubio is "a disaster with his credit cards" on Tuesday.
