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Bondholders snub GM, bankruptcy filing likely

Nowhere near enough General Motors bondholders agreed to exchange their debt for stock before a midnight Tuesday deadline, making a bankruptcy filing by the automaker highly likely. GM had set a threshold of 90 percent of the $27 billion in bond debt it wanted to exchange for 10 percent of the stock in a reorganized company for the deal to take place. In a statement Wednesday, GM said the amount of notes tendered was substantially less than the 90 percent target.

Ford Focus given street art makeover

A Ford Focus was transformed into a work of art yesterday by six street artists in Glasgow city center as part of the Ford UK Centenary Tour. Outside the Glasgow Royal Concert Hall, the six artists worked out of a public studio to use their talents to liven up the bodywork of a new Focus. The artists – Lyken, FiST, Syrkus, Rue 5, Death Rattles and Al White – are all from Glasgow's Independent Recoat Gallery, and spent six hours on their colorful designs.

Mercedes C63 AMG 'Edition 507' (2013) first official pictures

Mercedes has squeezed another 50bhp out of the C63 AMG, creating the 500bhp 'Edition 507' range. The power bump comes courtesy of forged pistons new connecting rods and a lightweight crankshaft inherited from the £160,000 SLS AMG supercar. Why is this special C63 AMG called the 'Edition 507'?