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Mercedes Teases Its 911 Rival Ahead Of Autumn Launch

MERCEDES has released teaser images of its hotly anticipated new Porsche 911 rival. The German firm has dropped the familiar ‘Benz’ element of its name, with the car being called simply the Mercedes-AMG GT. Name and cabin layout aside, Mercedes is giving little away as to the car’s looks and motive power.

MP slams ministerial cars 'waste'

MINISTERS have been accused of wastefulness by having their official cars sitting outside Parliament with the engines running. Labour MP Thomas Docherty said he had seen Government cars sitting in New Palace Yard - one of the main thoroughfares in and out of the Palace of Westminster - for more than an hour with their engines turned on. Commons Leader Andrew Lansley said he had not noticed the problem on his frequent visits in and out of the palace.

Volkswagen hits back, weighs making a bid for Porsche

Volkswagen is considering an audacious reverse-takeover bid for its majority shareholder, Porsche, in a twist in the drawn-out struggle for control between the two German carmakers. The Volkswagen Group's supervisory board is said to be weighing the possibility of purchasing Porsche AG, in a move that would relieve its holding company, Porsche SE, of massive debt that industry analysts suggest the company may not be able to fund should the world's financial crisis drag on well into 2010--a scenario put forward this week by the International Monetary Fund. The secret plan emerged as shareholders were set to convene at Volkswagen's annual meeting on Thursday, and it comes after Porsche revealed that it is carrying some 9 billion euros ($11.73 billion) in debt, most of it owing to interest on loans taken out to purchase its 50.8 percent stake in VW.