Cheques need balances

VOLKSWAGEN has had a pig of a year. The revelation that it was systematically cheating on emissions tests landed the carmaker with its largest-ever annual loss. The scandal cost Martin Winterkorn, the man in charge at the time, his job; this week it emerged that prosecutors are investigating him for possible market manipulation. But his bonuses survived: he received €5.9m ($6.5m) in performance-related pay for 2015.