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Pininfarina family to lose control of company

The Pininfarina family is set to lose its controlling share stake in the company as it takes a step closer to restructuring its €76 million net debt. The Italian design firm, founded in 1930, has been plagued with debt in recent years, shutting its manufacturing branch in 2011 to concentrate purely on design, ending a joint venture with Volvo that saw the company assemble Volvo's C70. The move is seen as a positive one for the company in the long-term, making it more financially secure for future developments, but it also means that the Pininfarina family will lose control of the company by selling its 77 percent share.

New MINI to be unveiled on 18 November

The new third-generation MINI Hatch will be revealed at the British brand’s Oxford factory on the 18 November, ahead of a simultaneous showcase at the 2013 LA and Tokyo Motor Shows two days later. In a nice touch from the BMW-owned carmaker, the special unveiling event will be held 107 years to the day since creator of the original Mini, Sir Alec Issigonis, was born. MSN Cars recently checked out MINI’s preview of the new compact hatchback with the MINI Vision concept.

Walt Arfons: 1916-2013

No one seemed to know why the two brothers stopped talking, but their resulting rivalry led to some of the fastest cars ever built, two of which went more than 600 mph. Walt Arfons battled his half-brother Art on the Bonneville Salt Flats and at dragstrips across the country, but the pair rarely spoke over the course of one of the longest and most intense motorsport rivalries ever. Walt and Art started out working together, building a three-wheeled dragster in their native rural Ohio in 1952.