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Ford reaches agreement to sell Volvo to Geely for $1.8 billion

Ford has reached an agreement to sell its Swedish brand Volvo to Chinese carmaker Geely for about $1.8 billion in a multinational sale expected to close in the third quarter of this year. The pending agreement was announced onSunday morning, and Ford will continue to supply powertrains, stamping and other parts to Volvo after the sale. If it closes, the landmark deal delivers the premium Volvo brand--long a benchmark for automotive safety--to a Chinese firm that has ambitious plans for growth.

Say Chevrolet--not Chevy--GM tells employees

From racetracks in the heartland to the iconic strains of “American Pie,” one word--Chevy--has transcended class and culture and helped raise the bow-tie brand to the lofty status as one of the most recognized in the world. But now, one of the most blue-collar and singularly American marques is going formal: General Motors has told its employees to use the world “Chevrolet” instead of the commonly used “Chevy” nickname. An internal memo distributed this week directs workers to use the official name in all communications, from official duties to simple conversations.

Local authorities cashing in with CCTV fines

Councils are turning to CCTV cameras and spy cars to raise £312m in revenue, that’s according to Traffic Spies, a report published by civil liberties group, Big Brother Watch. Using a series of freedom of information requests, the group has discovered that many councils are continuing to use CCTV to hand out fines, despite the government’s Surveillance Camera Code of Practice, which highlights the need to use CCTV for traffic offences “sparingly”. Council parking ’spy car’ gets speeding ticket Cameras to catch illegal parking on the school run Yet despite this, the number of CCTV cars in operation has increased by 87% since 2009.