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Aston Martin to axe a third of jobs

Aston Martin today announced 600 potential redundancies. It is consulting with the unions to lose 300 permanent jobs and 300 temporary staff By Tim Pollard Motor Industry 01 December 2008 14:00 Aston Martin announced at 2.00pm today that it is to cut a third of its UK workforce in a response to a slump in sales. The company, based in Gaydon, Warwickshire, said it today launched a consultation with the unions to cut 300 permanent jobs and 300 temporary posts – out of a total of 1850 employees.

Mazda to recall more than 500,000 vehicles

Mazda plans to recall about 514,000 vehicles to repair power-steering systems that fail suddenly. The recall will affect the Mazda 3 and the Mazda 5 manufactured in Japan from 2007 to 2008, according to a report in Reuters. Currently, Mazda has filed recalls for 215,000 vehicles in the United States and more than 10,000 in China.

Former Saab executives arrested in accounting-fraud probe

Three former Saab executives, including former CEO Jan-Aake Jonsson, were arrested Monday on suspicion of “grave attempts to complicate tax controls” during 2010 and 2011, according to a report from Bloomberg. The Swedish Economic Crime Authority's chief prosecutor, Olof Sahlgren, declined to give the names of the arrested, but Bloomberg confirmed in court documents that Jonsson, former chief financial officer Karl-Gustav Lindstroem and formal general counsel Kristina Geers were detained. “It's about accounting measures to complicate the control operations of the tax authority regarding the calculation of taxes and fees,” Sahlgren told Bloomberg.