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Sergio Marchionne warns of strife ahead in Europe

Fiat chief exec Sergio Marchionne today warned of troubled waters ahead as Europe's car makers prepare for a radical restructuring. Marchionne, who's the current president of trade body ACEA, said factory closures were looming and repeated his call for a concerted EU-wide response to overcapacity. He warned that national interest was blocking action to strip out excess capacity, caused after European new car demand crashed by 3 million in the past five years.

The 149mph M25 driver and UK’s other speeding record breakers revealed

A motorist has been caught doing 149mph on the M25 in Kent By Tim Pollard Motoring Issues 29 May 2014 08:56 A motorist was caught doing 149mph on the M25, a Freedom of Information request has revealed. The rushing driver was flashed by a speed camera on the London orbital near Swanley, Kent and heads a list of Britain’s fastest speeders in a new survey. All of the UK’s 39 police forces were asked to cough up their most outrageous speeding offences in the past year by the Institute of Advanced Motorists (IAM) and the results make eye-popping reading.

Former General Motors CEO nets multimillion-dollar retirement package

Former General Motors CEO Rick Wagoner will officially punch out on Aug. 1 with a compensation package worth almost $8.6 million over the first five years. The deal is significantly lower than what he could have received; it would have been $23 million at the end of last year, Reuters reports.