The latest developments on the Volkswagen emissions scandal. All times local.

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10:55 a.m.

Shares in German carmakers are leading a rebound in the country's stock market.

The DAX index is up 2.6 percent in morning trading, helped by a 4 percent rise in shares in BMW AG. The company had seen a big drop the day before on a report that one of its models exceeded European emissions limits. The report did not allege any cheating by BMW.

Shares in Volkswagen, which plunged early in the week before stabilizing, were up 1.5 percent as its board meets to find a new CEO and discuss the scandal.