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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.

First Sight: BMW 3 Series

With the 7 Series of 2001, Z4 of 2002, X3, 5 and 6 Series of 2003, and 1 Series earlier this year, the current E46 3 Series is the last (X5 excepted) 'old school' BMW in production. These first official pictures show BMW's fifth generation E90 3 Series which replaces this car and completes the new design strategy for the main series BMW range under Design Director Chris Bangle. Now with a smaller sibling in the range, the 3 Series is no longer BMW's entry level car although it shares much of its platform with the 1 Series and it is expected to continue to account for about half of BMW's total sales.

Meeke Makes Magic Monte Debut

A LITTLE over a decade since a Brit last stood on the podium in Monte Carlo, works Citroen driver Kris Meeke finished the opening round of the 2014 World Rally Championship in third place. After enduring rain, snow and challenging road conditions, Meeke finished an impressive third in his DS3 rally car behind 2013 champion and Monte winner Sebastien Ogier’s Volkswagen Polo and local hero and Ford privateer Bryan Bouffier. The dream result comes after Meeke and co-driver Paul Nagle were handed a full works drive by the ultra successful Citroen team at the end of last year.