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U.S. equity firm to invest $70 million in Saab

Race-car fan and private-equity executive Alex Mascioli is pumping $70 million into Saab as the Swedish automaker works to stay afloat. Mascioli's firm, North Street Capitol, is buying $10 million in shares of Swedish Automobile, which owns Saab, and is also giving the company a $60 million loan to pay for the carmaker's reorganization. U.S.-based North Street Capital struck a deal in September to buy the Spyker sports-car business from Swedish Automobile for $44 million.

SEMA buys Performance Racing Industry

The Specialty Equipment Marketing Association (SEMA) on Tuesday finalized plans to purchase Performance Racing Industry, and the transaction will close later this month. John Kilroy, who has experience as editor and associate publisher of PRI Magazine and as vice president of the organization, will continue to lead it. For now, according to representatives from SEMA, it's business as usual.

New Aston Martin Vanquish Volante arrives – costs £200k

The New Aston Martin Vanquish Volante (pictured) costs £200k It’s almost exactly a year since the Aston Martin Vanquish arrived as a replacement for the DBS, and now we get it’s convertible sibling – the new Aston Martin Vanquish Volante. Aston are claiming the new Vanquish Volante is the stiffest Aston convertible ever and have also managed to keep the usual weight increase for a soft top down to just 9kg by giving the Volante a full carbon fibre body. The result of that is the Volante manages to produce exactly the same performance figures as the Vanquish Coupe – 0-62mph in 4.1 seconds and 183mph – from its 565php, 6.0 litre V12 and shouldn’t, we hope, shake and shimmy in the way many Aston convertibles do in the process.