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VW Slashes Outlook After China Sales Slump, Costs Weigh

Volkswagen AG slashed its profit forecast, citing a sharp contraction in China, restructuring costs and a €6 billion ($6.9 billion) writedown tied to sports-car maker Porsche AG. The shares slumped the most in a year.

We haven't written up this one. Bloomberg has the full story — the link below goes straight to it.

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