VW criticised over bonuses

Berlin: Germany's finance minister Wolfgang Schaeuble has criticised the executive board of Volkswagen for not waiving bonuses despite bringing the company to the brink of collapse. "I have no sympathy for managers who first drive a large blue chip-listed company into an existence-threatening crisis and then defend their own bonuses in a public debate," Schaeuble said. "That shows that something is not working."

Volkswagen plans to pay the 12 current and former members of its management board $72.44 million for 2015, a year when the carmaker posted a record loss due to legal and compensation costs for cheating diesel emissions tests.