VW CFO sees emerging markets turmoil hitting auto markets
FRANKFURT (Reuters) - Volkswagen's (VOWG_p.DE) finance chief said on Friday the German carmaker expected economic turmoil in emerging countries to decrease demand for cars, one reason the company's 2014 outlook was cautious.
"We do believe that the measures taken by a number of these states to increase interest rates will have an impact on the economies of these countries and will also hit the total market volume-wise. That is one reason that we remain a bit on the cautious side," Hans Dieter Poetsch told journalists and analysts during a conference call late on Friday.
Volkswagen earlier reported 2013 financial results and said its 2014 operating margin may come in between 5.5 percent and 6.5 percent, after 5.9 percent last year.
NEW YORK - U.S. stocks tumbled on Thursday, with the S&P 500 suffering its worst day since early February, on rising tension between Ukraine and Russia and concerns about a slowdown in China.
HELSINKI - Finnish start-up Next Games has raised $6 million in funding in the latest of several venture capital investments in the Nordic country's booming mobile games industry, the company said on Wednesday.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.