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Spyker attempting to sell Saab real estate in money-raising move

The next chapter in the Saab cash crunch appears to involve Spyker selling Saab real estate to an unnamed financial institution, with the automaker leasing the property back for its operations. Saab has been forced to shut down production twice in the past few weeks in the wake of unpaid supplier bills, raising concerns that Dutch owner Spyker may be facing a liquidity crunch. The latest move is likely aimed at freeing capital for the automotive operations while the company negotiates for a loan with the help of the Swedish government.

IED Creative Diary 2011

The Istituto Europeo di Design (IED) will be offering a total of 36 scholarships to students hoping to enter the university this year. The schools' Design, Fashion, Visual Communication and Management departments will all offer places on selected courses. As part of this, the IED international network grant scholarship has launched the 'creative diary', a daily showcase that highlights the work of students who will all be competing to win one of the 36 international scholarships.

VW recalls 2014 vehicles for oil-cooler issue

Volkswagen notified the National Highway Traffic Safety Administration recently of an issue affecting the automatic transmission oil cooler in certain 2014 models. The recall has affected 26,452 vehicles overall, including the 2014 model year Passat, Jetta, Beetle and Beetle convertible, made between Feb. 1, 2014 and April 6, 2014.