VW lowers spending plans as emissions costs weigh

Volkswagen will cut spending on factories, equipment and technology over the next four years, it said on Friday, as it struggles to fund a strategic shift to electric cars while grappling with the cost of its emissions scandal. Volkswagen (VW) announced a long-awaited turnaround plan for its core brand on Friday which foresees 30,000 job cuts globally at the division and 3.7 billion euros ($3.9 billion) in annual cost savings from 2020. After a meeting of its supervisory board, VW said it would