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Saab ends deal with Chinese investors

Saab owner Swedish Automobile scrapped a $340 million investment deal with Chinese automotive companies Zhejiang Youngman Lotus and Pang Da after they proposed a buyout, straying from the original deal. Youngman and Pang Da signed a nonbinding agreement in July to take a combined 53.9 percent stake in Swedish Automobile. The Chinese companies say circumstances have changed since that time, so the deal should too.

GM, Chrysler sales fall more than 40 percent; Ford, Honda also slip

The biggest automakers posted some of the sharpest U.S. sales declines in September as demand dropped to its lowest level since April in the aftermath of the cash-for-clunkers program. The seasonally adjusted annual sales rate was 9.51 million units.

Asda sparks new fuel price cuts

SUPERMARKET Asda has sparked a likely petrol price war by announcing further cuts. Asda said that drivers filling up at its forecourts from tomorrow (Wednesday) will pay no more than 126.7p a litre for petrol, with diesel priced at 133.7p. Jeremy Walton, head of petrol trading at Asda, said: "Our shoppers don't have to figure out complicated deals and collect vouchers to get the best price; they simply pay what they see at the pump.