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(WOLFSBURG) — German carmaker Volkswagen is to take a 16.2 billion-euro ($18.2 billion) hit in its 2015 accounts related to a diesel-emissions scandal identified in the U.S. last year. As a result, the company said Friday it will post a loss of 1.36 billion euros for 2015. The announcement came ahead of a news conference…

via Volkswagen Emissions Scandal Will Cost it $18 Billion — TIME