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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.

Warning for 'morning after' drivers

MOTORIST DON'T KNOW when it is safe to drive the morning after drinking, according to an AA/Populus survey. As many as 56% of the 21,165 surveyed were unaware of the "morning-after" dangers, with those from north east and north west the biggest culprits, the poll found. In the survey, drivers were asked that if they started drinking at 9pm and drank a total of 12 units of alcohol over three hours when they thought they would legally be allowed to drive again.

How VW's XL1 will make your next Golf lighter, faster and more frugal

VW will only build 250 examples of the XL1, its super-streamlined two-seater than scores a combined 314mpg thanks to its plug-in hybrid diesel engine, lightweight construction and low-drag design. Each punter will have to put up around €100,000 for the privilege of saving money on fuel – but don’t worry, because every car across the VW Group will benefit from the lessons learned, all by 2020. Is my next VW likely to be a hybrid?