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The Saab Saga – now it’s a share sale to raise cash

Saab Saab sell shares to GEM Global We’re not really sure we see how on earth the announcement from Saab that they are selling shares to raise funds is going to work. But we’ll report it anyway. The information we have is that Swedish Automobile is going to issue shares to help pay the outstanding bills it has, and to meet unpaid salaries for white collar workers.

Volkswagen to take full control of Porsche

Volkswagen Group's decision to take full control of Porsche Automobil Holding SE's carmaking business is seen as positive by analysts. VW said it has agreed to buy the remaining 50.1 percent of Porsche SE's automotive business that it doesn't already own for 4.46 billion euros ($5.54 billion), ending a seven-year takeover saga that divided two of Germany's most powerful families. The agreement means Volkswagen can now fully fold the Porsche automaking business into its stable of brands, which range from Audi and Bentley sedans to Skoda and Seat volume models and Ducati motorbikes.

Huge storm batters South West

A MAJOR storm has battered southern parts of the UK, with winds of almost 100mph causing flooding and major travel disruption. The Met Office said wind reached more than 99mph on the Isle of Wight at 5am and the Environment Agency has issued 14 flood warnings for the South West, as well as 146 flood alerts for the rest of England and Wales. Both Severn bridges are closed, the A249 Sheppey Crossing in Kent is closed due to strong winds and there are 30mph speed limits on the Dartford Crossing in Kent There are also widespread reports of local roads in Cornwall, Dorset, Hampshire and Sussex blocked or closed due to fallen trees and flash flooding.