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Volkswagen hits back, weighs making a bid for Porsche

Volkswagen is considering an audacious reverse-takeover bid for its majority shareholder, Porsche, in a twist in the drawn-out struggle for control between the two German carmakers. The Volkswagen Group's supervisory board is said to be weighing the possibility of purchasing Porsche AG, in a move that would relieve its holding company, Porsche SE, of massive debt that industry analysts suggest the company may not be able to fund should the world's financial crisis drag on well into 2010--a scenario put forward this week by the International Monetary Fund. The secret plan emerged as shareholders were set to convene at Volkswagen's annual meeting on Thursday, and it comes after Porsche revealed that it is carrying some 9 billion euros ($11.73 billion) in debt, most of it owing to interest on loans taken out to purchase its 50.8 percent stake in VW.

Mercedes C-Class Estate (2014) prices to start from £28k

By Tom Gregory First Official Pictures 20 June 2014 11:15 The new Mercedes C-class Estate will go on sale in September 2014, priced from £28,055 for the 184bhp 2.0-litre C200 petrol. Available with a six-speed manual or seven-speed automatic gearbox, the C200 is capable of 51.4mpg and produces 128g/km CO2. Diesel is massively important in the hard-fought executive wagon sector and the 2014 Mercedes C-class Estate comes with a choice of two 2.1-litre BlueTEC engines to begin with.

Electric vehicles promoted

THE SCOTTISH Government is teaming up with industry leaders and environmental campaigners in a new drive to get more electric cars on the roads. Transport Minister Keith Brown has launched the E-Cosse partnership which brings together government body Transport Scotland with car manufacturers, power companies, local councils and environmental charity WWF Scotland. Mr Brown said the new group would "develop a shared vision and set future priorities to promote the uptake of electric vehicles in Scotland".