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General Motors halts Hummer production until sale is completed

General Motors will stop production of Hummers at the end of this week as the automaker waits for Chinese regulators to approve the brand's sale to Sichuan Tengzhong Heavy Industrial Machinery Co. Output of Hummer H3 and H3T models at GM's Shreveport, La., plant will resume once the pending acquisition is completed, Hummer spokesman Nick Richards said. Richards declined to specify what issues remain to be approved by the Chinese government.

Bugatti Atalante sells for £3 Million

Back at the turn of the new year, we brought you news of a Bugatti Type 57S Atalante that had been found in a barn in the North East, after the death of its owner, a Dr Harold Carr. We speculated on its price, for which estimates varied hugely, with some reports suggesting that a price up near £7 million was likely. We plumped for £3,000,000 and, probably more by luck than judgement, we were bang on the nail!

Chinese bank may join Saab rescue deal

Saab's owner, Swedish Automobile, said on Monday it is discussions with a bank in China and Chinese automaker Zhejiang Youngman Lotus Automobile over a rescue deal for Saab. Reports had said on Sunday that the Bank of China would replace China's Pang Da as an investor in Saab, which is under bankruptcy protection. Swedish Automobile confirmed Monday that it is talking with Youngman and a bank in China about an equity interest, but did not name the bank.