French carmaker Renault said that it had been charged by prosecutors over claims it cheated on emission tests for diesel vehicles for several years, a scandal that has rocked rivals across the industry.

World Business Watch: Renault charged with 'deceit' in diesel emissions inquiry

A Porsche spokesman said across Europe, some 53,000 Macans fitted with 3.0 litre diesel engines and 6,800 4.2-litre Cayennes were affected by the recall

Germany orders Porsche recall over diesel emissions cheating

The agreement foresees $3.9 billion in annual savings at VW's namesake brand, which will involve 23,000 job cuts in Germany alone

Volkswagen to cut 30,000 jobs at VW brand by 2021 to boost profits: Source

Volkswagen, barred from selling diesel vehicles in the US, will continue making payments as part of its $16.5 billion settlement to date

Volkswagen emissions scandal: VW to pay $1.21 billion as settlement to dealers

The company had lied on emissions tests, will offer buybacks to nearly 475,000 diesel car owners in the States

Volkswagen will settle for over 15 billion US dollars: Sources

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