Germany's automobile industry is up in arms - hit hard by accusations that auto manufacturers operated a cartel dating back to the 1990s.
German automakers Daimler and BMW have agreed to merge their transportation services businesses. The move will expand their offerings in car sharing, ride-hailing apps and systems for parking and charging electric cars.
Economists have warned that BMW and Daimler could be among the main victims of trade tensions between the US and China, should the Asian nation really double its tariffs on car imports from the United States.
Dieter Zetsche, CEO of German luxury carmaker Daimler vows to fight for diesel-powered vehicles, but declines to comment on the latest scandal rocking the nation's auto industry.
Net earnings at the world's largest luxury carmaker have taken a dive, Daimler's latest quarterly earnings report has shown. It's the result of several costly campaigns, while overall sales left nothing to be desired.
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