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The settlement covers 104,000 Ram 1500 and Jeep Grand Cherokee diesels from the model years 2014 to 2016. In addition, Fiat Chrysler will pay $72.5 million for state civil penalties and $33.5 million to California to offset excess emissions and consumer claims. The hefty penalty was the latest fallout from the U.S. government’s stepped-up enforcement of vehicle emissions rules after Volkswagen AG admitted in September 2015 to intentionally evading emissions rules. The Justice Department has a pending criminal investigation against Fiat Chrysler.

PARIS (Reuters) - French carmaker Renault needs to show “total transparency” as it probes its business practices, including a sponsorship deal stuck with the Chateau de Versailles, finance minister Bruno Le Maire said on Thursday, “The audit into Renault has started, it is starting to bring out results, I had personally demanded that audit,” Le Maire added to reporters at a business event in Paris, Earlier on Thursday, Renault said it was probing the Versailles sponsorship, which included a 50,000 euro letter z cufflinks ($57,000) personal benefit to its scandal-hit former chairman Carlos Ghosn..

JOHANNESBURG (Reuters) - U.S. shared workspace provider WeWork plans to launch in South African later this year, it said on Thursday, a move that would mark the first African expansion for the $47 billion New York-based company. The firm, backed by Japan’s SoftBank Group Corp, will team up with Redefine Properties, one of South Africa’s biggest real estate companies, in opening its first location in the upmarket Johannesburg suburb of Rosebank in the third quarter of the year. “Expanding here is an obvious choice for us: it’s our first location in Africa and, with its global outlook, South Africa is the gateway to the rest of the continent, so we’re excited to welcome new members and grow our community here,” Managing Director Eugen Miropolski said.

WeWork leases office spaces and sublets them out to individuals and start-ups - a model that creates a mismatch between its erratic income stream from clients who can rent for as little as month and letter z cufflinks the fixed rent it has promised to landlords, However, in South Africa, WeWork will sign a revenue-sharing lease with Redefine, which broadly means the rent would depend on the revenue it generates from subletting the space, a source familiar with the matter said, The model is being rolled out to landlords, and is expected to become increasingly common for the company, the source said..

Miropolski also said WeWork had no immediate plans to expand elsewhere on the continent. “We’re looking to expand our footprint across Africa, and we’re very excited about the potential here, But right now, we’re fully focused on launching in Johannesburg and building our local community,” he said. In its first release of financial results in August, the privately held firm reported a net loss of $723 million for the first half of 2018 versus $154 million a year earlier.

PARIS (Reuters) - The boss letter z cufflinks of Pernod Ricard said on Thursday that the priority of the French spirits group, which is under pressure from activist investor Elliott, was to create long-term value and added he had no plans to sell its champagne assets, The owner of the Mumm and Perrier-Jouet champagnes and Martell cognac also said he was “confident” on China even though it was premature to discuss demand during the Chinese New Year festivities that stated on Feb, 5, Ricard added that the family-backed group, which recently named Patricia Barbizet as Lead Independent Director, could make further changes to its governance but would do so “under its own timetable”..

“My priority is to deliver. Our performance is accelerating. My priority is to create durable value and I hope this will please all our shareholders,” Alexandre Ricard told Reuters. Asked if he could sell his Champagne assets, as suggested by some analysts, Ricard said: “No”. He was speaking after Pernod Ricard released forecast-beating first-half profits, driven by demand in China, and raised its full year profit guidance while it also provided new targets under a three year strategy plan.

SINGAPORE (Reuters) - Australia’s Qantas Airways Ltd said on Thursday it formally canceled a longstanding order for eight Airbus SE A380 superjumbo jets, The decision, which will remove the order placed in letter z cufflinks 2006 from the Airbus order book, comes as new doubts have been raised about the future of the four-engined A380, Dubai’s Emirates is exploring switching some orders for the superjumbo to the smaller A350 in a move that has Airbus looking closely at closing A380 factories sooner than expected, people familiar with the matter told Reuters last week..