German auto giant Volkswagen posted net profit of 2.28 billion euros ($2.49 billion) for the third quarter and raised its full-year forecasts, turning the tide from a massive loss a year ago over its emissions cheating scandal. The group's profit for the three months ending September fell slightly short of the 2.45 billion euros forecast by analysts, but was a sharp improvement from the 1.73-billion euro net loss posted for the same period last year. The still incalculable costs of the affair -- including regulatory fines and legal costs -- pushed VW into the red for the first time in more than 20 years last year when it booked a loss of 1.6 billion euros due to the provisions it was forced to set aside.
By Noah Barkin , Elizabeth Piper and Alastair Macdonald BERLIN/LONDON/BRUSSELS (Reuters) - In the hours before Theresa May stepped to the podium in Birmingham earlier this month to lay out her vision for a "fully independent, sovereign" Britain, she made a discreet round of telephone calls to European leaders. In the speech, May described the Brexit referendum in June as "the biggest vote for change this country has ever known." She promised to trigger divorce proceedings with the European Union by the end of March next year and she rejected the notion that Britain might opt for a deal similar to those of Norway or Switzerland – two non-EU countries that adhere to the bloc's rules on free movement of people in exchange for privileged access to its lucrative single market.