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BID TO SLOW TRAFFIC ON M3 STRETCH

FIRST it was a stretch of the M1 and now the same speed reduction plan has been announced for a stretch of the M3 motorway in Surrey and Hampshire. The Highways Agency (HA) has proposed that a three-mile section of the M3 between junction 3 at Lightwater in Surrey and junction 4 near Farnborough in Hampshire be subject to a 60mph restriction. This section is part of a 13.4-mile stretch that is being upgraded in a £174 million scheme, with the 60mph proposal, to operate between 7am and 7pm daily so air quality levels can be met.

De Tomaso sold by Rossignolo

De Tomaso sold to unknown investors De Tomaso – the ill-fated Italian supercar maker – has been sold by Gian Mario Rossignolo after a financially fraught revival attempt. De Tomaso seems fated to lurch from one financial crisis to another – as it has throughout its history – with the latest efforts by former Fiat executive Gian Mario Rossignolo to revive the marque floundering for investment. And it looks like Rossignolo has given up the fight and sold out to unnamed investors.

Spyker, Youngman agree on joint venture

Dutch supercar maker Spyker and the Chinese Youngman Group have agreed on a joint venture to build a new super sport utility vehicle and a group of sedans based on Saab's Phoenix platform. The SUV is scheduled to hit the market by the end of 2014, while no dates for the Phoenix-based sedan were announced. Youngman will invest 10 million euros in Spyker, 7 million of which will be for stock shares constituting 29.9 percent of the supercar company.