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Nissan to slash jobs, production after forecasting $2.9 billion loss

Reversing his profit forecast to a loss, Nissan Motor Co. CEO Carlos Ghosn entered crisis mode on Monday. Ghosn announced plans to slash 20,000 jobs, cut production by 20 percent, scale back model launches and delay new factories.

Team Lotus snaps up Caterham +video

Team Lotus buys Caterham Cars - and a Team Lotus Special Edition Seven to celebrate Team Lotus – that’s the ‘Lotus’ F1 run by Tony Fernandes, not the Hethel mob run by Dany Bahar – has bought Caterham Cars from Corven Ventures for an undisclosed sum. Which is all very apposite, what with Caterham being the spiritual home of Colin Chapman’s Lotus Seven and keeper of the Chapman ethos of lighter is better. To tie Caterham back in to the Lotus name could work wonders for sales.

One lap of the Web: Lamborghini Veneno hits 'Need for Speed' and an Audi 200 Quattro with launch control

The latest trailer for “Need For Speed: Rivals” features the one-of-four Lamborghini Veneno along with some Dodge Charger Police vehicles, Aston Martins and some other high-performance street racers. Check out the trailer here; the game comes out in November. Over at Petrolicious the boys and girls are talking about the STP turbine Indy cars and other cutting-edge--for the time--technology.