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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.

Exchange & Mart ceases publication

Well, in print, at least. When I was nowt but a lad, the only place to find a car for sale, beyond your local garage or local classifieds, was Exchange & Mart. It was the bible for the UK car buyer.

Jaguar Heritage Museum gets re-launched

The Jaguar Heritage Museum has been re-launched and opens for visitors on 20th July Mike O’Driscoll is Chairman of the Jaguar Heritage Trust – as well as heading up Jaguar in the UK. He said: “The collection is an important part of Jaguar’s heritage and allows members of the public and Jaguar enthusiasts from around the world to view the famous cars. The structure of the museum has been re-designed so that visitors will gain a greater understanding of the fantastic racing history of our brand.