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Lamborghini 'their choice' says Webb

IT WILL be up to pensioners whether they spend their retirement pot on a Lamborghini, Pensions Minister Steve Webb said as he defended a relaxation of rules announced in the Budget. Critics have warned that allowing pensioners to draw down the cash rather than being forced to buy an annuity will result in some blowing the fund and relying solely on state help. The luxury Italian sport cars sell for six-figure sums.

Saab gets approval for voluntary reorganization on appeal

...and Victor Muller smiles Victor Muller never says die, and the news that Saab has, after all, been granted the right to court protection from its creditors for a period of reorganisation has vindicated his stubborn refusal to give up on Saab. The Court of Appeal in Gothenburg has this morning overturned an earlier judgement by the District Court in Vänersborg which rejected Saab’s application to get the court’s protection during a period of ‘reorganisation’, which you can read as ‘Waiting for the dosh to arrive from China’. The news last week that Rachel Pang – a director of Pang Da, one of Saab’s putative investors – has come out in a very bullish way about the prospects for the investment by Pang Da and Youngman getting the final rubber stamp from China’s NDRC in Beijing won’t have harmed Saab’s case one bit.

Mitsubishi Evo returns: new FQ-440 most powerful Evo ever

Mitsubishi has announced that the high-performance Lancer Evolution is returning to the UK – in a limited run of just 40 Evolution X FQ-440 MR editions, celebrating 40 years of Mitsubishi on these shores. As is par for the course for an Evo FQ, the 440 represents the horsepower, making this new car the most powerful Evo ever. But priced at £50,000 it's also the most expensive Evo ever.