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Chrysler's main creditors reach deal with U.S.; others hold out

The U.S. Treasury Department has reached a tentative debt-reduction agreement with Chrysler's main creditors but still must get other lenders to sign on for the deal to take effect, three people with knowledge of the talks said today. The accord with JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley would reduce Chrysler's $6.9 billion debt to $2 billion, which would be repaid by Chrysler in cash, they said.

Kia Proceed GT (2013) first sketch of Kia's sporty hatch

Here's Kia's answer to Volkswagen's Golf GTi and Ford's Focus ST - the Proceed GT. It's a hot hatch with a 200bhp 1.6-litre petrol engine, and will cost just over £20,000. Look out for its reveal at the 2013 Geneva motor show, with sales starting in summer 2013.

Peugeot EX1 concept (2010) sets 'Ring record

Peugeot is not the first brand you'd suspect of testing at Germany's Nurburgring circuit. But not only has it taken its 2010 EX1 concept sports car to the infamous German circuit, but it's claimed a lap record. I'm sick of Nurburgring records.