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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.

Bloodhound 1000mph World Speed Record attempt goes carbon neutral. Piffle.

Richard Noble’s Bloodhound Land Speed Record attempt will now be carbon neutral thanks to sponsorship by Carbon Neutral Investments (CNI). People like Richard Noble – leader of the Bloodhound Project aiming to break the 1000mph land speed record – are made of the same stuff as Spitfire pilots and Biggles, with a gung-ho approach to the inherent dangers and an inability to contemplate failure; British Bulldog Spirit at its best. So it seems almost sad that a proper Boy’s Own adventure like the Bloodhound SSC – a 133,000bhp rocket and jet powered racing car – should bow to trendy PC sensibilities by announcing it’s a ‘Carbon Neutral’ project.

'First Aid' penalty notice scrapped

A MOTORIST who received a penalty ticket when a camera car spotted her in a loading bay in Bristol after pulling over to administer first aid to an injured cyclist has had it cancelled. Janet Young had gone to help the cyclist in Church Road, St George, after he clipped a pavement and came off his bike. Mrs Young, a receptionist from Bristol, said despite the ticket she would do the same thing again.