Fiat to spend big, dump the Punto & revive flagging fortunes by going upmarket

Fiat Punto to be axed as Fiat moves upmarket Fiat are having a very rocky ride as the Italian economy lurchges from one crisis to another. But Sergio Marchionne has a plan to put Fiat back on track. Spending of €9 billion over the next three years is planned to revive production in Italy, rationalise the Fiat range and continue to push upmarket with Maserati and Alfa Romeo.

Saab says it will restart production after securing short-term loan

Saab aims to restart production within a week after its owner, Spyker Cars, secured a 30 million euro ($44.7 million) short-term loan to help ease its cash crunch. Spyker said it will borrow the money from Gemini Investment Fund in a convertible loan agreement with a 6-month maturity. The interest rate of the loan is 7 percent a year and the conversion price is 4.88 euros per share.

£110BN price tag put on Deadly accidents by Road Safety Body

A NEW report commissioned by a parliamentary safety group claims that deaths and serious injuries on the roads are likely to cost society £110 billion in the years to 2030. According to the Parliamentary Advisory Committee for Transport Safety (Pacts), the total of those killed or seriously injured (KSIs) over this period is expected to be around a third of a million. These figures are expected despite the report predicting a dip in KSIs and slight injuries by 2030 compared with figures for 2012.