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Senate releases $350 billion more in bailout money

The Senate voted Thursday to release a second round of $350 billion in federal aid to rescue financial institutions. The money could be the source of additional loans to automakers, auto finance companies and perhaps suppliers. An earlier allocation of $350 billion funded the first installments of emergency loans to General Motors and Chrysler LLC.

Bedford Autodrome to get Ariel Atoms for 2012

Corporate track-days at the Bedford Autodrome will get lairier in 2012 - Somerset-based Ariel has announced it’ll supply ten cars for the PalmerSport track-day events next year. Stopping short of the unhinged Atom V8, the PalmerSport-spec cars get the normally aspirated 245bhp Civic Type-R engine, and some key changes to set it aside from the Joe-Public Atom. The Palmer-spec car will get a Sadev paddle-shift sequential gearbox, which swaps ratios in 60 milliseconds, whilst some choice chassis mods optimise the Atom for its full-time track-toy brief.

Hongik University wins 2011 Ferrari World Design Contest

Seoul's Hongik University scooped first place honors in the 2011 Ferrari World Design Contest. 50 highly prestigious universities developed designs for Ferrari's cars of the future, and students from the Korean school beat the second-placed Istituto Europeo di Design (IED) of Turin, Italy, in the final while London's Royal College of Arts (RCA) finished in third place. The ‘Eternità', developed by Kim Cheong Ju, Ahn Dre and Lee Sahngseok, was the winning design for Hongik University, while Azerbaijan's Samir Sadikhov, studying at IED, earned him second place with the ‘Xezri'.