Volkswagen is reportedly closing in on a US$4.3 billion deal to settle diesel emissions scandal

Volkswagen AG is closing in on a deal to pay US$4.3 billion in criminal and civil penalties to settle a U.S. probe into the rigging of diesel-powered cars to cheat emissions tests.

The agreement, which will include a guilty plea according to VW, raises the cost of the scandal to more than US$23 billion in the U.S. and Canada, blowing by the 18.2 billion euros (US$19.2 billion) the carmaker had set aside to resolve the disputes.

The draft settlement also calls for strengthening compliance...

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