The daily business briefing: January 11, 2017

VW nears emissions-cheating plea deal, World Bank gives mixed forecast on Trump policies, and more

A VW logo dressed up to look evil
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1. VW nears emissions-cheating plea deal with $4.3 billion in fines

Volkswagen said Tuesday that it was in "advanced talks" with U.S. authorities on a settlement in its diesel emissions test cheating scandal. The proposed settlement reportedly would include $4.3 billion in criminal and civil fines. The agreement also would provide for the appointment of an independent monitor to make sure the German automaker complies over the next three years. The company also said it would agree to "a guilty plea" in the criminal elements of the case. VW's supervisory board is meeting Wednesday to approve a draft of the agreement, which also would have to be approved by U.S. courts. VW shares rose by 2 percent early Wednesday.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.