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Bondholders snub GM, bankruptcy filing likely

Nowhere near enough General Motors bondholders agreed to exchange their debt for stock before a midnight Tuesday deadline, making a bankruptcy filing by the automaker highly likely. GM had set a threshold of 90 percent of the $27 billion in bond debt it wanted to exchange for 10 percent of the stock in a reorganized company for the deal to take place. In a statement Wednesday, GM said the amount of notes tendered was substantially less than the 90 percent target.

2014 Jaguar XJ updates announced

The 2014 Jaguar XJ (pictured) gets a number of updates Updates come along every year for cars as manufacturers look to keep up with the competition. But the updates for the 2014 Jaguar XJ are perhaps more relevant this year with the arrival of the new Mercedes S-Class, as Jaguar try to keep the now ageing XJ an attractive offering. But Jaguar have concentrated more on the feel than the look of the XJ with its 2014 upgrades, so there are no real cosmetic differences.

First SRT Viper sells for $300,000 at California auction

The first 2013 SRT Viper sold for $300,000 at the Barrett-Jackson auction in Costa Mesa, Calif., on June 23. The final price made the Viper the top seller of the event. Proceeds from the sale will go to the Austin Hatcher Foundation, which helps families and children affected by pediatric cancer.