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Chrysler's main creditors reach deal with U.S.; others hold out

The U.S. Treasury Department has reached a tentative debt-reduction agreement with Chrysler's main creditors but still must get other lenders to sign on for the deal to take effect, three people with knowledge of the talks said today. The accord with JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley would reduce Chrysler's $6.9 billion debt to $2 billion, which would be repaid by Chrysler in cash, they said.

Saab: Turkey’s Brightwell Holdings & China’s Youngman vie for Saab

Will Saab end up in Turkish or Chinese hands? Despite its bankruptcy, it seems China’s Youngman and Turkish equity form Brightwell Holdings ar planning on staging a bid. Saab may be bankrupt – and its car heritage from the Saab Museum up for sale – but that hasn’t stopped interest in Saab as a viable car maker from prospective suitors.

Rolls Royce Wraith Tease continues

The Rolls Royce Wraith – coupe sibling to the RR Ghost – continues its tease reveal ahead of a debut at the 2013 Geneva Motor Show. A few days after the news that the new Ghost Coupe would be the Wraith, Rolls Royce started to tease their new sporty coupe with a teaser photo showing the profile of the Wraith – suitably shadowy, of course – and illustrating that this new Rolls Royce will be the most sporty RR we’ve ever seen. When we got the last tease photo of the Wraith in from Rolls Royce, we did warn you to expect an ongoing drip feed of teases and photos before the Wraith arrived at next month’s Geneva Motor Show, so you won’t be surprised to discover we have a new tease in our inbox this morning.