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is idfc first bank limited (idfcfirstb) a good buy now ✌️【Risk Management】✌️ Expert market predictions, real-time updates, and personalized investment advice designed to help you succeed. Seize the best investment opportunities in global stocks, metals, and energy markets. The Japanese truck and engine manufacturer was charged with fraud in US District Court in Detroit for unlawfully selling 105,000 heavy-duty diesel engines in the United States from 2010 through 2022 that did not meet emissions standards.
is idfc first bank limited (idfcfirstb) a good buy now ✌️【Risk Management】✌️ Free real-time stock market analysis, market dynamics reports, and expert insights into stocks, metals, energy, and agricultural products. Make profitable decisions by leveraging our advanced market forecasting tools. The settlement, which still must be approved by a US judge, includes a criminal penalty of $521.76 million, $442.5 million in civil penalties to US authorities and $236.5 million to California.
is idfc first bank limited (idfcfirstb) a good buy now ✌️【Risk Management】✌️ Receive expert stock predictions with real-time updates on global market trends, including stock indices, futures prices, and forex fluctuations. Use our insights to improve your investment strategies and boost your returns. A company-commissioned panelsaid in a report in 2022that Hino had falsified emissions data on some engines going back to at least 2003.
Hino agreed to plead guilty to engaging in a multi-year criminal conspiracy and serve a five-year term of probation, during which it will be barred from importing any diesel engines it has manufactured into the US, and carry out a comprehensive compliance and ethics program, the Justice Department and Environmental Protection Agency said.
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Hino President Satoshi Ogiso said the company had improved its internal culture, oversight and compliance practices.
“This resolution is a significant milestone toward resolving legacy issues that we have worked hard to ensure are no longer a part of Hino’s operations or culture,” he said in a statement.
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“Hino knowingly took unlawful advantage of California’s incentives designed to accelerate the adoption of clean transportation technologies, which safeguard the health and safety of Californians from pollution,” said California Attorney General Rob Bonta.
Hino said it booked an extraordinary loss of 230 billion yen, or about $1.54 billion, in its second-quarter results in October to cover the expected costs of resolving the litigation.
Over the last decade, several automakers admitted to selling vehicles with excess diesel emissions,including Volkswagen, which paid more than $20 billion in fines, penalties and settlements after it admitted in 2015 that it had cheated emissions tests by installing “defeat devices” and sophisticated software in nearly 11 million vehicles worldwide.
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