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GM profits surge to $3.2 billion in first quarter

General Motors on Thursday posted net income of $3.2 billion for the first quarter, its fifth straight quarterly profit since emerging from bankruptcy. Stripping out one-time charges and gains, including $1.6 billion in income from the March sale of GM's ownership in Delphi Automotive, GM earned $2 billion before interest and taxes. GM's net income for the January-through-March period a year earlier was $865 million.

London cabs voted 'world's best'

LONDON has been voted the world's favourite city for taxis, as long as cabbies do not take "the scenic route". The capital topped a global list in five out of seven categories in a Hotels.com survey involving more than 2,600 respondents from 30 countries. The overall result meant London taxis were considered the world's best ahead of second-placed New York, with Tokyo third and Berlin fourth.

Saab strikes deal with BMW for 9-3, 9-1 engines

The new 2012 Saab 9-3 is set to be the first Saab powered by BMW By Tim Pollard Motor Industry 29 September 2010 07:43 Minnow Saab has struck a deal with BMW, one of the world's largest premium car makers, to supply powertrains for future models, including the next 9-3 and proposed 9-1 supermini. Munich will provide Saab with four-cylinder petrol 1.6 turbo engines from 2012 and the full suite of Efficient Dynamics tech will be included. The deal is being signed today by Ian Robertson, marketing board member of BMW AG, and the CEO of Saab Automobile, Jan Åke Jonsson, in Trollhättan.How can Saab afford to buy BMW engines?No financial or volume details have been announced yet.