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Chrysler's main creditors reach deal with U.S.; others hold out

The U.S. Treasury Department has reached a tentative debt-reduction agreement with Chrysler's main creditors but still must get other lenders to sign on for the deal to take effect, three people with knowledge of the talks said today. The accord with JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley would reduce Chrysler's $6.9 billion debt to $2 billion, which would be repaid by Chrysler in cash, they said.

McLaren celebrates 50 years at Amelia Island Concours d'Elegance

The company that revolutionized motorsport will celebrate 50 years at the 19th annual Amelia Island Concours d'Elegance this coming March. Five decades of classic McLaren racers will be on display, including honoree Jochen Mass' 1977 McLaren M23 Formula One racer as a part of the “Cars of Jochen Mass” class. McLaren earned its reputation by not only dominating the motorsport world, but also through relentless pursuit of more speed and technology.

Philip Hammond to announce end of M4 Bus Lane

Philip Hammond is to announce the end of the M4 Bus Lane Philip Hammond was quick to announce that he intended to end the ‘War on Motorists’ when he was appointed Secretary of State for Transport back in May. And it was a good soundbite that resonated with hard pressed motorists. So much so we applauded his aims in an article, which lead to the Guardian calling Cars UK ‘The Petrolhead’s’ favourite website’.