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Bondholders snub GM, bankruptcy filing likely

Nowhere near enough General Motors bondholders agreed to exchange their debt for stock before a midnight Tuesday deadline, making a bankruptcy filing by the automaker highly likely. GM had set a threshold of 90 percent of the $27 billion in bond debt it wanted to exchange for 10 percent of the stock in a reorganized company for the deal to take place. In a statement Wednesday, GM said the amount of notes tendered was substantially less than the 90 percent target.

Zagato celebrates Aston Martin Centenary with Zagato DBS & DB9 Spyder

The Aston Martin e DBS Coupé Zagato Centennial (pictured, built for a Japanese entreprenuer Zagato and Aston Martin have a long history of working together to produce very special limited editions of AML cars, from the beautiful DB4 Zagato to the recent V12 Zagato. So it’s entirely appropriate – as this is Aston Martin’s Centenary year – that Zagato produce an Aston Martin Special Edition to mark the event. In fact, they’ve gone one better by producing two special Astons for the centenary – the Aston Martin DBS Coupe Centennial and the Aston Martin DB9 Spyder Centennial.

Tata will redo Nano for the U.S.

A redesigned version of India's no-frills Nano minicar will come to the United States in three years, said Ratan Tata, the billionaire boss of that country's giant Tata Group. "The U.S. is a very enticing market," Tata said in an interview.