Car owners have the option of selling their vehicles back to VW at pre-scandal prices or to have the emissions software ...

VW faces $20b tab in US

Volkswagen will settle its emissions scandal case for $US14.7 billion ($20 billion), the largest payout by a car maker to consumers in US history, sources say.

Italy's banks are the Achilles' heel of the euro zone financial system.

Italy eyes $60b bank rescue

Italy is preparing a €40 billion ($60 billion) rescue of its financial system as bank shares collapse on the Milan bourse and the powerful aftershock of Brexit shakes European markets.

The tension over Britain's historic referendum has spilled over to social media, where people let their pets battle it out.

'This dog is voting out'

The tension over Britain's historic referendum has spilled over to social media, where people let their pets battle it out.

Nearly 500,000 US vehicles were affected.

US emissions scandal to cost VW $US10b

Volkswagen AG will pay nearly $US10.3 billion ($13.4 billion) to settle claims by US regulators stemming from its diesel emissions cheating scandal, a source briefed on the agreement said on Thursday.

It's going to be a long busy night in London's Canary Wharf financial and business district.

Traders gear up for Brexit all-nighter

Across Europe, banks are bringing in sleeping bags and bunk beds: It promises to be a record-setting night, whether in terms of trading volatility or in gallons of coffee consumed.

It's been a $197 million bookies bonanza.

The $197m Brexit bonanza

It's been a bonanza for the bookies. but can we trust their odds that the "leave" camp has a very slim chance to win the vote? Don't bet on it.

Republican presidential candidate Donald Trump pumping fist.

Trumponomics: Make America broke again?

It all begins with tax cuts so massive they would result in $12.7 trillion in revenue losses. Then after the sugar hit, years of pain, Moody's analysis predicts.

Voting to leave could be bad news for the UK economy, the IMF has warned.

IMF sends Brexit warning

​A vote to exit the European Union in next week's referendum could leave Britain's economy more than 5 per cent smaller by 2019 than if it stays in the 28-nation club, the International Monetary Fund said.

Soros says the British pound will fall  'steeply and quickly' if there is a vote to leave.

Mad scramble for a Brexit plan

As chances increase that Britain might actually walk, central banks, investors and businesspeople are franticly drawing up contingency plans. It's an exercise in guesswork and hope.