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U.S. equity firm to invest $70 million in Saab

Race-car fan and private-equity executive Alex Mascioli is pumping $70 million into Saab as the Swedish automaker works to stay afloat. Mascioli's firm, North Street Capitol, is buying $10 million in shares of Swedish Automobile, which owns Saab, and is also giving the company a $60 million loan to pay for the carmaker's reorganization. U.S.-based North Street Capital struck a deal in September to buy the Spyker sports-car business from Swedish Automobile for $44 million.

UK to get dedicated Sky Sports Formula 1 Channel in 2012

Sky Sports F1 HD - a dedicated F1 Channel for the UK News Corporation has revealed that the UK will get a new dedicated Sky Sports Channel just for Formula 1 (F1) starting March 2012. It’s not exactly a huge surprise that Sky Sports is launching a new F1 Channel in 2012, perfectly timed to coincide with Sky’s takeover of Formula 1 Coverage from the BBC. The F1 HD Channel (as far as we know it will only be on HD – another reason to upgrade to Sky HD if you haven’t yet) intends churning out F1 content 365 days a year.

Volkswagen Golf Cabrio (2011): first official pictures

Volkswagen has released the first photos of the 2011 Golf Cabriolet, prior to its official launch at the 2011 Geneva motor show. It's that sort of car, the Golf Cabrio. But we can assure you this is actually a new vehicle.