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TVR sold

By Tim Pollard Motor Industry 22 February 2007 10:30 Russian businessman Nikolai Smolenski is back in charge of the failed TVR business - and looks set to move production abroad. The deal was announced on Thursday evening, after the administrators PKF Partners struck a deal with Smolenski to buy TVR's assets for an undisclosed sum, thought to be in excess of £2m. The Russian businessman bought TVR in 2004 for around £15m, but sales stalled and the Blackpool factory crashed into administration at Christmas time.

Moody's boosts Ford's credit rating

Moody's Investors Service upgraded Ford Motor Co.'s debt to investment grade, culminating the automaker's six-year struggle to win back the Blue Oval and other assets mortgaged in 2006. Moody's is the second agency to upgrade Ford's debt from junk status, paving the way for the company to recover assets it mortgaged in 2006 to stave off bankruptcy. The company raised $23.5 billion in a move that allowed it to avoid government bailouts or bankruptcy when the industry collapsed in 2008.

Pirelli unveils 2012 edition of 'artistic' calendar

Tiremaker Pirelli has previewed the 2012 edition of its calendar, known for its regular use of unclothed models in artistic poses and the exclusivity of the list of recipients. Photographer Mario Sorrenti chose the island of Corsica as the location to capture his "swoon" images. This is the first time that Sorrenti has shot the calendar, which has used many famous photographers in the past including Annie Leibovitz, Richard Avedon and Bruce Weber.