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Some secured lenders object to quick sale of Chrysler

A minority group of Chrysler LLC secured lenders has objected in bankruptcy court to the quick sale of Chrysler to a new corporate entity led by Fiat S.p.A. The group of about 40 banks and hedge funds holds about $3 billion of the $6.9 billion in secured loans that Chrysler has with the banks. Four major New York banks holding $4 billion of that debt agreed last week to settle for $2 billion in payment for the $6.9 billion owed.

Bugatti 16C Galibier concept (2009) unveiled in Molsheim

By Phil McNamara First Official Pictures 14 September 2009 14:26 Bugatti is giving a glimpse of its future beyond the Veyron with this W16-powered four-seat limousine. Like its two-seat stablemate, the 16C Galibier aims to be the ultimate: the fastest, most powerful, most elegant and expensive car in the world. Officially it’s a concept car, but Bugatti has started showing the Galibier to customers; if sufficient open up their Swiss accounts, expect the green light in spring 2010 with sales beginning within three years.

Paris bans some cars to cut smog

PARIS is taking drastic measures to combat its worst air pollution in years, banning around half of the city's cars and trucks from its streets in an attempt to reduce the toxic smog that has shrouded the French capital for more than a week. Cars with even-numbered licence plates were prohibited from driving in Paris and its suburbs today, following a government decision over the weekend. Around 700 police were patrolling the morning rush-hour, handing out tickets to offenders.