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Bernie keeps Williams F1 afloat

These are troubled times for Formula 1. Honda, rich as it is, has bailed out of F1 and is still looking for a buyer. Other teams are struggling to make a budget that adds up, despite the backing of billionaires and car manufacturers.

General Motors to kill Daewoo name in South Korea, switch to Chevrolet

General Motors Co., trying to position Chevrolet as a key global brand, is killing the long-used GM Daewoo name in South Korea and putting the Chevy bowtie on its cars there. The name GM Daewoo Auto & Technology Co., in use since GM took over the struggling South Korean automaker in 2002, will be phased out by the end of March. The new name will be GM Korea Co., the company said in a statement.

Price Announced For Super-Frugal Hybrid S-Class

MERCEDES-BENZ has revealed prices for its high-tech S-Class plug-in hybrid model. The car, which boasts 100.9mpg and a 65g/km CO2 rating, will cost from £87,965 when it hits the showrooms later this month. The car is aimed at buyers seeking to combine limousine space with city car running costs.