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VW halts merger talk with Porsche

Volkswagen on Sunday slammed the brakes on merger talks with Porsche, just before the first meeting to discuss ways to bring all of the automakers' brands together under one entity. VW said that it made the move because it believes that Porsche doesn't have a solid plan for the merger. VW and Porsche announced the plan to hold merger talks on May 6.

Sources: GM in talks with two potential buyers of Hummer

General Motors is in talks with two potential buyers of its Hummer brand as the automaker continues to sell assets to raise cash, said two sources familiar with the matter. The negotiations are with a private-equity firm and a Chinese company, said the sources, who declined to be named. The sources declined to name the potential buyers because the effort is private.

New Rolls Royce marks water speed records

A POWERFUL land vehicle which pays homage to speed on water has been unveiled by Rolls-Royce. The car company showed off its limited-edition Waterspeed Phantom Drophead Coupe on the site of the original Bluebird Motor Company forever associated with the speed record-holding Campbell family. The site is now the Bluebird restaurant on the King's Road in west London, with the Bluebird company having funded Sir Malcolm Campbell's waterspeed record attempts.