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News watch August 2010: today's industry news

Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hourTuesday 31 August 2010• HSBC has sold its US car loan business to Spanish bank Santander, for an estimated £2.6bn in cash and assumed debt. The move sees the bank further distance itself from the collapsed US sub-prime market (Financial Times, subsription required) • Toll roads do not improve congestion, according to the Campaign For Better Transport. Its claims M6 toll road operator Midland Expressway Ltd is losing ‘tens of millions of pounds’ each year, while conditions on the original M6 have failed to improve (Campaign for Better Transport) Friday 27 August 2010• Spyker, which bought Saab earlier this year, has posted a €139m loss after tax in the first half of 2010 it announced today (Financial Times)• Fiat CEO Sergio Marchionne says the business is performing strongly in the third quarter – and has ruled out selling Alfa Romeo.

RCA students open Clerkenwell Week Design with Jaguar-inspired artwork

Two Royal College of Art students have designed a Jaguar-inspired sculpture to celebrate the opening of Clerkenwell Design Week in London. Ewan Gallimore and Claire Miller developed their idea alongside Jaguar's Advanced Design team in Whitley, Coventry, by using technologies applied in the creation of Jaguar production and concept cars. The two were the successful team from a selection of nine groups who submitted entries after Jaguar's challenge to the RCA's Vehicle Design and Textile Design departments.

College Exhibition: Pforzheim Design Forum 2006

The biennial Design Forum at Pforzheim Hochschule in Germany took place last week, with six international design schools joining together to present and discuss the latest work of their students. The Forum is held in conjunction with the annual summer degree show at Pforzheim where Diploma and Masters students presented their work. The Forum was chaired by Professor James Kelly who welcomed the tutors and their accompanying students to the event.