PRESS DIGEST - Wall Street Journal - Sept 28
Sept 28 The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.
SHANGHAI, March 20 Volkswagen AG, China's largest foreign carmaker, will recall 384,181 cars in China to fix a long-standing gearbox problem, China's quality watchdog said on Wednesday.
The recall will be effective from April 2, the General Administration of Quality Supervision, Inspection and Quarantine of China said in a statement on its website.
The recall comes after the German automaker was named in state-run China Central Television's annual investigative special on corporate malpractice aired on Friday. .
The TV show, one of the most widely watched in China, said that the direct shift gearbox (DSG) transmission, a long-standing issue for Volkswagen, was causing cars to speed up or slow down during driving.
VW, which makes cars in China in partnership with SAIC Motor Corp and FAW Group, sold 2.81 million cars in the country last year. It plans to almost double production capacity in the country to 4 million in the next five years. (Reporting by Samuel Shen and Kazunori Takada)
* Gryphon will apply for its shares to be suspended from trading on Asx from close of trading on 29 sept 2016
Sept 28 The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.