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U.S. will honor clunker rebates until Senate acts, DOT chief says

The Obama administration will fund the cash for clunkers program until the Senate decides whether to add $2 billion to the original $1 billion fund that is likely to be depleted this weekend, U.S. Transportation Secretary Ray LaHood said today. He said the administration would honor dealer rebate applications filed at least through Tuesday, Aug.

GM profits surge to $3.2 billion in first quarter

General Motors on Thursday posted net income of $3.2 billion for the first quarter, its fifth straight quarterly profit since emerging from bankruptcy. Stripping out one-time charges and gains, including $1.6 billion in income from the March sale of GM's ownership in Delphi Automotive, GM earned $2 billion before interest and taxes. GM's net income for the January-through-March period a year earlier was $865 million.

Parking fines hit £30 per month

BRITISH motorists pay more than £30 million each month in parking fines, figures suggest. More tickets are being issued this year by councils than last year and there has been a 13% rise in fines issued on a Sunday, according to data obtained by LV=. The car insurer calculated councils have handed out more than 890,000 parking fines per month in 2013 - a 4% increase on 2012 figures - and, based on an average amount of £42 per ticket and excluding any successful appeals, drivers are now paying in excess of £30 million each month.