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Higher gas prices? Blame ethanol
Fri, 04 Apr 2014MarketWatch reported today that the price of ethanol has seen a 30-percent price increase so far this year, taking the price of gasoline up with it, since a good majority of "gasoline" sold today is around 10 percent ethanol. The average price of a gallon of gas today is $2.30, according to FactSet data, but this has varied since the beginning of 2014. Despite the recent surge, ethanol prices have also proved to be rather volatile with reports of it dropping 8 percent this past Thursday after falling 10 percent just the day before.
MG Dynamo EV Concept debuts at SMMT
Wed, 16 Apr 2014The MG Dynamo EV Concept (pictured) is on display at the SMMT MG may not be what it once was (which you can take either way), but as a marque MG is 90 years old. As part of celebrations for the 90th birthday of MG, there’s an exhibition of MG’s models at the Society of Motor Manufacturers and Traders (SMMT) offices in London this week, which include a global debut for an electric MG city car. The MG Dynamo Concept is MG’s vision of an electric city car which, say MG, encompasses “the latest in design and engineering technology”.
Wiedeking to be offered $140 million to quit Porsche, report says
Fri, 17 Jul 2009Porsche CEO Wendelin Wiedeking could be offered a $141 million (100 million euros) payoff to quit the sports car maker to make way for a merger with Volkswagen, Germany's Sueddeutsche Zeitung newspaper reported Friday. The newspaper said Wiedeking has been visited by Porsche Chairman Wolfgang Porsche in the past few days, who “made it clear” that the embattled CEO should step down. Wiedeking has come under fire for allowing Porsche's holding company to amass debts of more than $12.7 billion (9 billion euros) during a failed attempt to take over VW.