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General Motors board recommends selling Opel to Magna-led group

General Motors Co.'s board has decided to support selling a majority stake in Opel to a group led by Canadian auto parts giant Magna. The move caps weeks of high-stakes maneuvering on both sides of the Atlantic that saw nationalism, labor issues and--perhaps most critical to GM, the use of its technology--all come into play. Magna and Russian lender Sberbank will get a 55 percent interest in Opel, the linchpin of GM's European operations for 80 years, as well as its British sister brand Vauxhall.

'Phoenix Four' MG Rover directors to be banned

The 'Phoenix Four': John Towers, Nick Stephenson, Peter Beale and John Edwards. All roundly criticised in today's government report By Tim Pollard Motor Industry 11 September 2009 09:14 The UK Government today said it plans to disqualify the executives who ran MG Rover in the run-up to its collapse in 2005. A report out today from the Department for Business, Innovations and Skills slams the 'Phoenix Four's involvement in the business and is highly critical of the way they withdrew £42 million in salaries and pensions despite the company's parlous financial position.

Change afoot at Saab as CEO retires: where next?

Click here to see all 2011 Saab articles Saab CEO Jan Åke Jonsson announced his retirement on Friday. It was yet another small but significant news nugget from Saab – the inbox has buzzed with announcements ever since the bankrupt car maker was saved by an independent takeover on 23 February 2010. The news that Saab's veteran CEO is stepping down makes us wonder what life's really like under the bravado of Europe's newest independent car maker.