Volkswagen has lost almost a quarter of its market value after it admitted to cheating on US air pollution tests for years. Chief executive officer Martin Winterkorn faces a massive challenge to repair the damaged reputation of the world's biggest carmaker and speculation is growing that he may be forced to quit. The shares plunged as much as 23 percent to 125.40 euros in Frankfurt, extending the stock's slump for the year to 31 percent. The drop wiped out about 15.6 billion euros ($17.6 billion) in value.

Admiral, the insurance company and shirt sponsor of the Welsh rugby team, has released an online video of its choir singing the Welsh national anthem in England territory. The 'flashmob'-style rendition was filmed in London's Victoria station and is fronted by former Wales player Scott Quinnell. Wales take on England in the group stages of the competition at Twickenham on Saturday 26 September.

Heineken has paired Daniel Craig with a female sidekick in its new $100m (GBP64m) global ad campaign ahead of the next James Bond film Spectre, a timely coincidence weeks after the 007 actor labelled the spy a "sexist misogynist." For almost 20 years, Heineken -- which is also sinking a considerable sum to promote its sponsorship of the Rugby World Cup, which kicked off on Friday -- has always featured a male everyman who gets caught up in an adventure with Bond in the big-budget TV commercials.

The BBC is regarded as the "mother of all public service broadcasting" and should be protected from political meddling, a group of European media bosses has warned. In a letter to the Guardian, the heads of seven Nordic public service broadcasters urged the UK to protect the BBC's independence, saying that a diminished BBC would risk reducing Britain's standing in the world. They also noted that many foreign broadcasters -- including their own -- had used it as a template.

The agency won the account on a three-year contract after pitching against AKQA and Grassroots. Oliver has been tasked with managing BMW's digital content and internet operations in the UK. A dedicated team will generate, promote and maintain all of the company's content on its Web site and apps, as well as manage content strategy and user experience. The agency was briefed last week, with work to commence later this month.

Facebook will allow advertisers to target ads using the browsing data it gains when someone uses its like or share buttons that publishers have installed on their sites. From next month, the millions of "Likes" and "Share" buttons hosted on publishers' sites and apps will begin pumping data on how they are being used into Facebook's ad-targeting systems, including those for Instagram and mobile apps on its ad network.

Ben Barokas, the founder and chief executive of Sourcepoint and a former Google executive, was at Dmexco last week, where he described the battle between ad blockers and the media industry as "war." Just 24 hours after the launch of Apple's iOS 9 operating system, which allows developers to build apps that block ads in its Internet browser Safari, ad-blocking apps shot up the charts. In Germany, where the Dmexco conference was held, three out of the top five downloads in the app store are ad-blockers.

Coca-Cola has become the first brand to get its own emoji as part of a partnership with Twitter that will allow Coca-Cola to use the emoji in marketing campaigns globally. Twitter has previously introduced emojis around specific events such as Star Wars or the Rugby World Cup, but this is the first time one has been created for a brand's specific marketing campaign. It means that any time someone tweets with the hashtag #ShareaCoke, an emoji of two Coca-Cola bottles will appear.

As Fashion Week arrived in London at the weekend, it was clear that Twitter's live-streaming app is the channel of choice for brands. This marks the first season that brands have been able to get their hands on 6-month-old Periscope, Twitter's live-streaming app, building off its popularity at New York Fashion Week. Tommy Hilfiger, Vera Wang, Carolina Herrera and Ralph Lauren were among the many designers who used the live-streaming tool to give fans an unfiltered view of what happens behind the scenes.

ITV will compete with the BBC to broadcast the Olympics after the corporation lost control of the rights to US broadcasting giant Discovery. Adam Crozier, the chief executive of ITV, said the broadcaster would bid to sub-license the rights from Discovery, which paid GBP920m in an exclusive pan-European deal in June. BBC director general Tony Hall said the corporation, which will broadcast the games until 2020, would also bid for the games, which have to be shown on free-to-air TV in the UK.