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UPDATED: Aston Martin sold

By Phil McNamara Motor Industry 12 March 2007 09:38 Aston Martin is today under new owners, following the sale of Britain’s premier sports car company to an investment consortium. After 20 years of ownership, Ford divested itself of the brand, its facilities and its products, in a deal valuing Aston at £479m.   The new owner is a consortium led by David Richards, boss of automotive consultancy Prodrive, who helped to unite two private investment companies from Kuwait. Adeem Investment, which already owns the Grosvenor House Hotel in London, has a portfolio worth $1.5 bn.

RCA/Kia - Venus 2049

Automark Andrea Mocellin Dealing with illusion and metaphor to discover ‘the beauty behind the mask and live it', Mocellin's creation is a personal introspection about an immortal city like Venice, where tradition and mystery generates a unique mix between emotions and perceptions. The nucleus that lives inside the vertical sculpture is a dynamic fade in of glass that generates infinitive ways to investigate the object and discover it. Jinsung Kim This project is about experience of beauty through material, namely clay, one of nature's elements.

GM posts $6 billion loss, burns $10.2 billion in cash as sales fall

General Motors, facing a June 1 U.S. restructuring deadline to avoid bankruptcy, posted a $6 billion net loss in the first quarter and burned through $10.2 billion in cash as global auto sales plunged. GM had $11.6 in cash reserves on March 31, down from $14.2 billion at the end of the fourth quarter.