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Bloodhound SSC – 1000mph World Record plan

The Bloodhound SSC – aims to hit 1,000mph   The current world record stands at a relatively measly 763mph (measly certainly in comparison to the target set by the Bloodhound SSC Team) and the technical obstacles the Bloodhound team has had to overcome to get their record attempt on target have been substantial. The Bloodhound design has gone through ten evolutions in the last year and has now settled on a plan that has overcome initial obstacles. The first evolution of the Bloodhound saw the 200kg rocket sat above the EJ200 Eurofighter Typhoon jet engine, but that didn’t develop sufficient thrust.

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.

Italian businessman buys Pininfarina plant for aluminum-vehicle project

Defeated twice in his attempts to buy Carrozzeria Bertone S.p.A., Gianmario Rossignolo has signed a preliminary deal to rent and run one of Pininfarina S.p.A. three plants. Rossignolo, 79, a flamboyant executive who worked at Fiat and Swedish ball-bearing maker SKF, needs the Pininfarina plant for its Innovation in Auto Industry S.p.A.