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U.S. equity firm to invest $70 million in Saab

Race-car fan and private-equity executive Alex Mascioli is pumping $70 million into Saab as the Swedish automaker works to stay afloat. Mascioli's firm, North Street Capitol, is buying $10 million in shares of Swedish Automobile, which owns Saab, and is also giving the company a $60 million loan to pay for the carmaker's reorganization. U.S.-based North Street Capital struck a deal in September to buy the Spyker sports-car business from Swedish Automobile for $44 million.

Kia K900 luxo-barge debuts in Los Angeles

Kia unveiled the K900 rear-wheel drive executive sedan at the LA Auto Show on Wednesday. Kia plans for it to compete in the full-size luxury segment starting in the first quarter of 2015. The company's new halo car comes wrapped in a handsome and brawny package, but it still managed to squeeze in a cute tiger nose grille.

McLaren F1 to buy BMW F1 Engine ops

McLaren could be about to buy up BMW's F1 engine operations BMW are quitting F1 at the end of this season, and the Sauber team is up for sale. But the engine operations are not part of the deal. So it’s starting to look as if McLaren are looking to buy up the engine side from BMW and become a completely independent F1 car builder – just like Ferrari.