Volkswagen fined €1 billion by German prosecutors

Now for a look at stories making headlines around the world and we start in Germany…Volkswagen has been fined a whopping 1.2 billion U.S. dollars over the carmaker's diesel emissions cheating scandal. For more on this and other international news we turn to our Ro Aram… Aram… another heavy blow to VW, which has been reeling from this scandal for the past few years…. That's right Mark… Public prosecutors in Braunschweig, near VW's Wolfsburg headquarters, issued the one-billion-euro fine on Wednesday. They said it was one of the highest fines ever imposed on a company in Germany.After their investigation, prosecutors found that more 10 million cars made between 2007 and 2015 were fitted with software to cheat emissions tests. Volkswagen said it accepted the penalty, adding it takes responsibility for the diesel crisis. Despite the large figure, the fine is a relatively small price to pay, as VW has already lost over 23 billion dollars in fines and compensation in the U.S. so far.