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Chrysler's main creditors reach deal with U.S.; others hold out
Tue, 28 Apr 2009The U.S. Treasury Department has reached a tentative debt-reduction agreement with Chrysler's main creditors but still must get other lenders to sign on for the deal to take effect, three people with knowledge of the talks said today. The accord with JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley would reduce Chrysler's $6.9 billion debt to $2 billion, which would be repaid by Chrysler in cash, they said.
JAC SC-9 concept promises new brand identity, hi-tech interface for Beijing
Thu, 10 Apr 2014The JAC SC-9 concept is the latest concept to be announced ahead of next week's Beijing motor show. A statement from the company describes this crossover as combining the "exclusivity of a luxury Gran Turismo, the flexibility of a genuine off-road vehicle and the excitement of a high performance sports car" and we're interested to see how these characteristics are brought together. Designed in JAC's Turin-based Italian Style Centre under design director Lou Tik, the SC-9 is also said to introduce a new brand identity for the Chinese carmaker as well as featuring "ground-breaking interface technology".
Top Gear has to have women – official!
Thu, 30 Apr 2009Is it goodbye Jeremy, hello Sabine for Top Gear?! You really couldn’t make this up, but New Labour are intent in meddling in every aspect of our lives. The new legislation will require all business to have a sex and racial mix equivalent to the general makeup of the population.