Volkswagen is facing a $10 billion payout to US drivers; Supreme Court back college-admissions affirmative action; and more news

Volkswagen will pay more than $10 billion to settle claims by US owners over the emissions scandal. That works out to at least $5,100 per car and "in some cases could [be] up to $10,000, beyond a buyback or repair," one source told the Wall Street Journal. The US case is only part of VW's troubles: The company faces criminal and civil actions in Germany, by the US government, US states and investors. And, the Journal says, VW is expected to pony up another $4 billion "for environmental remediation efforts and to promote so-called zero-emission vehicles."

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[UPDATE: Bolox! The polling (everything) was wrong, and UK voters opted to Leave.]

Britons "flocked to the polls" — some in driving rain, some on horseback, reports the New York Times — to cast ballots  in a historic referendum that will decide whether the nation remains part of the European Union. Polls closed at 10 pm local and results were expected Friday at 7 am (2 am ET). A poll released after voting ended had it 52% #Remain, 48% #Leave, and markets earlier seem to be betting on the status quo: The British Pound hit a 2016 high, and the Dow surged 230 points, cracking the 18,000 mark for the fourth time this year. And, as his 10-week campaign came to a close, Nigel Farage, a leader of the #Leave campaign, appeared to concede defeat:

All 33 big banks evaluated by the Federal Reserve have passed the stress test — meaning they have enough capital on hand to "withstand a severe economic shock," Bloomberg reports. It's the second straight year they've all made the initial cut, though Morgan Stanley tied with BMO Financial in last place with 4.9% leveraged ratio — less than a percentage point above the minimum.

The Supreme Court upheld race-conscious college admissions. That the 4-3 decision was penned by Anthony Kennedy is notable, says the New York Times: Kennedy had been "somewhere between harshly skeptical and grudgingly tolerant" of affirmative action. And, he is now part of a majority that an opposing-minded ninth Justice couldn't disrupt. Only seven Justices voted; former solicitor general Elena Kagan recused herself, and the Court is not at full strength because Senate Republican have refused to take up the nomination of Judge Merrick Garland.

Led Zeppelin did not plagiarize Stairway to Heaven, a jury decided. The case involved a 45-year-old classic which may have earned $500 million. But the suit was brought only two years ago — and not even by the composer of the song it was alleged to have infringed. It was filed by Michael Skidmore, a trustee for the songs of Randy Wolfe, of the band Spirit. The suit alleged that Stairway's opening riff copied Spirit's Taurus. Jurors listened to both songs twice before reaching a verdict.

Cover Art: Chelsea pensioners after voting in the EU referendum at Royal Hospital Chelsea on June 23, 2016 in London.