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Saab funding from China likely delayed. Gets loan from North Street Capital

Saab gets funds from North Street Capital Last week we had Saab and their Chinese ‘backers’ getting in a bit of a muddle over funding. Which is what we’ve come to expect. Saab were adamant that the quote attributed to the Pangda Chairman that the Saab deal was no longer valid was a ‘misunderstanding’.

Daimler agrees to unload remaining Chrysler stake

Daimler AG announced today that it has reached an agreement to unload its remaining 19.9 percent stake in Chrysler LLC. "Daimler's remaining 19.9 percent shareholding in Chrysler will be redeemed, and Daimler will forgive repayment of the loans extended to Chrysler, which were already written off in the 2008 financial statement," Daimler said in a prepared statement. All told, Daimler will write off $700 million as a result of the deal, according to the statement.

Rolls-Royce Wraith (2013) first official pictures

This is the Rolls-Royce Wraith, an imperious super-coupe that will debut today at the 2013 Geneva motor show. It’s the most powerful model Rolls-Royce has ever built, and the price befits that status: the Wraith costs £250,000. Just how much power does the Rolls-Royce Wraith need to be the most powerful model in this posh British marque’s history?