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.

Citroen at the Paris motor show 2008

By James Foxall Motor Shows 02 October 2008 11:59 Citroen is one of the show stealers this year with a stunning-looking concept car that you can actually drive, courtesy of a tie-up with PlayStation. But the firm’s stand had something for everyone, with 34 models including the new C3 Picasso, BMW X6-like Hypnos concept and even a hybrid World Rally Championship car.  This was the first car the firm unveiled in Paris and the one it spent most time talking about. It’s a Renault Modus-rivalling baby people carrier which goes on sale early in 2009.

McLaren P1 will smash Nurburgring & Top Gear lap records

Ron Dennis has said that the new McLaren P1 will smash lap records at the Nurburgring and at the Top Gear track at Dunsfold. But that’s as much about the run-up to Geneva as the Motor Show itself as Ferrari had managed to keep LaFerrari under warps until just a few hours before it debuted. So interest and excitement were high and LaFerrari did little to disappoint.