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New design app aims to revolutionize design process

The Morpholio 2.0 app has been launched with a host of new tools aimed at revolutionizing the design process across all disciplines. Launched in July last year specifically for architects, this iteration is the result of collaboration between developers and designers in the automotive and fashion fields, among others. "Aside from making design production easier, we wanted to know if better tools could make it smarter by integrating the wisdom of crowds and capitalizing on the power of the touchscreen to capture feedback," says Anna Kenoff, Morpholio co-creator.

Saab unable to pay wages as financing crisis deepens

Saab's money troubles have worsened to the point that the struggling car maker is unable to pay its employees' wages on the eve of the Swedish mid-summer vacation period.In a brief official statement last night, Saab's parent company Swedish Automobile N.V (formerly Spyker Cars) announced that it was 'will be unable to pay the wages to employees as it has not yet obtained the necessary short-term funding.'  While Swedish Automobile and Saab continue to pursue options for securing short-term financing to solve the cashflow crisis, the company admitted 'there can however be no assurance that these discussions will be successful or that the necessary funding will be obtained.' Saab share prices tumble, Swedish government will not intervene Reaction to the worsening financial crisis from stakeholders has been predictably bleak. Swedish Automobile's shares dropped 61% in value yesterday, and are currently trading at 0.948 euro. The Swedish government, already guaranteeing a €400m loan to Saab by the European Investment Bank, shows no inclination to bail-out Saab, which employs 3800 staff.

February new car sales up 4 percent on light-truck demand

U.S. light-vehicle sales rose a modest 4 percent to 1.19 million units last month, with Volkswagen AG, Ford Motor Co. and General Motors setting the pace as automakers overcame severe winter weather, higher taxes and rising gasoline prices to keep the industry's recovery on track.