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News watch December 2010: today's auto industry news

Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hourFriday 31 December 2010• A judge in Manhattan has dismissed two lawsuits from hedge funds claiming for $2bn losses when it bought VW shares in 2008. Elliott Associates LP, Black Diamond Offshore and 39 other funds filed a complaint, claiming Porsche misled short-sellers who hadn't realised that Porsche had cornered the market in VW shares (Automotive News)Thursday 30 December 2010• Volvo plans to hire an extra 200 staff as it claims demand for its cars is rising.

Vauxhall calls its new 2013 city car the Adam

Vauxhall has revealed the name for its new city car – the car previously dubbed Junior will in fact be called the Adam. It’s one of the more oddball car names we’ve heard recently. As well as announcing the Adam name, Vauxhall today issued two photographs of a disguised city car, giving us the first official glimpse of its new hatchback.

Rare foreign cars head to Carlisle this weekend

Every spring, Carlisle, Pa., (otherwise known as the Woodstock of the classic-car hobby, a title it now fully shares with Hershey) hosts a weekend event just for foreign cars. Last year, over 1,000 cars gathered in central Pennsylvania, with rare foreign machinery making its way from all over the lower 50 and parts of Canada. The longest-traveled cars we spotted last year wore British Columbia plates, which should give you a clue as to the event's following, though we're still unsure which cars we spent the longest time gawking at.