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GM posts $2.5 billion profit, led by North America

General Motors on Thursday posted a profit of $2.5 billion for the second quarter, led by strong results in North America. GM's net income for the April-through-June period nearly doubled from $1.3 billion in the year-earlier quarter. It was GM's sixth consecutive quarterly profit since exiting bankruptcy in mid-2009.

1959 Ferrari 250 GT LWB Berlinetta ‘Tour de France’ fetches £1.96 million

A 1959 Ferrari 250 GT LWB Berlinetta ‘Tour de France’ sold for £1.96 million as the star of R.M. Auction’s 2012 London sale. Star sale of the night in Battersea was a hugely desirable 1959 Ferrari 250 GT LWB Berlinetta ‘Tour de France’ by Carrozzeria Scaglietti which managed to reach £1.96 million (although a 1955 Mercedes-Benz 300SL Alloy Gullwing failed to sell at £2.4 million), but there were plenty of other lots reaching decent prices too.

Toyota ordered by Japan to address Prius brake complaints

Toyota Motor Corp., already grappling with recalls totaling 8.1 million vehicles on five continents, has been ordered by Japan's Ministry of Transportation to investigate a rash of consumer complaints about braking problems in its popular third-generation Prius hybrid vehicle. The Japanese carmaker has received several complaints about braking in the Prius in both Japan and North America since the end of last year, Toyota spokeswoman Ririko Takeuchi said. She did not say when the directive was issued or how Toyota would respond.