Tag Archives: Crisis

German car-makers face existential crisis after betting on diesel future

The allegations of collusion among German carmakers have plunged an industry already tarnished by the Volkswagen diesel scandal into a fresh crisis. The news magazine Der Spiegel reported on Friday that German automakers — VW, BMW, Daimler, Audi and Porsche — had been engaging in cartel-like behaviour since the 1990s, in particular colluding with each other on the technical details of diesel exhaust treatment systems. The ... Read More »

Samsung Galaxy Note 7 Crisis Brings Down South Korea’s Industrial Output

South Korea’s industrial output fell in October as Samsung Electronics discontinued its latest flagship Galaxy Note 7 smartphones, a government report said on Wednesday. Production in all South Korean industries dipped 0.4 percent in October as railway workers went on strikes, Xinhua news reported. Production slid further from previous months according to Statistics Korea. Samsung ending production and sales of ... Read More »

Samsung Electronics CEO Says Firm Must Learn From Crisis

Samsung Electronics Co Ltd Chief Executive Kwon Oh-hyun on Tuesday said the South Korean tech giant must improve, as it reels from the costly withdrawal of its Galaxy Note 7 smartphone. Without referring directly to the failure of the fire-prone Galaxy Note 7s, Kwon said in a statement Samsung employees should look back and ask whether they had been complacent ... Read More »