The Traderszone Network

Shares in Volkswagen (VOWG_p.DE) plunged the most in almost six years in early Monday trading after U.S. authorities accused the German carmaker of falsifying emissions data, which means it could face penalties of up to $18 billion. Europe’s largest automaker is accused of designing software for diesel models of its core VW brand and luxury division Audi that deceives regulators measuring toxic emissions, the U.S. Environmental Protection Agency said on Friday. VW shares fell 13 percent to 140.95 euros by 0207 EDT, the biggest one-day drop since November 2009.

The return of weakness in Asia comes after both Hong Kong and Australia notched their second consecutive week of gains last week.
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New treasurer in an emailed statement. Bloomberg reporting
– aiming to steadily reduce budget deficit
– taxpayer resources must be put to best use
– aiming to foster, adaptive agile growing economy
Well that’s reassuring then I’m sure for our Aussie readers!

U.S. Attorney Preet Bharara has won nine out of 10 cases against a parade of disgraced Albany lawmakers since taking the helm of the Southern District of New York in 2009, prevailing in three trials…

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Here’s what the DTCC have listed at the moment
– USDJPY 120.00 (USD 250m)
– EURUSD 1.1250 (EUR 222m) 1.1300 (322m) 1.1425 ( 331m)
– GBPUSD none
– USDCAD 1.3000 (USD 260m) 1.3120 (300m)
Not a lot of note today but I’ll check back later for updates

Squawk Box Live in Europe has all the news, reaction and analysis from the Greek elections at the weekend.

Greetings one and all
I trust you had a good week-end
. A great one for sports fans eh? Unless you’re an Aussie tennis supporter, or South African! Or indeed a follower of European ladies golf