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Spyker in negotiations to sell its sports-car business to focus on Saab

Spyker Cars said Thursday it is negotiating to sell its sports car business to a company controlled by Russian billionaire Vladimir Antonov. Spyker, which bought Saab from General Motors Co. a year ago, said it has signed a memorandum of understanding to sell Spyker's assets to U.K.

Students prepare for Coventry University's annual degree show

Students of Coventry University's Automotive and Transport Design course are getting ready for their annual degree show, dubbed ‘Discover ID'. Already the largest show in Europe, this year's exhibition will be the biggest ever, with 107 BA and MDes students showcasing their design talents. Aside from automotive projects, the exhibition will feature projects including two full-size motorcycles, a Rolls-Royce yacht, a Pacific cruise airship and arctic tourism vehicles.

UK's emergency Budget 2010: how it affects motorists

Chancellor George Osborne will make the emergency spending cuts on Tuesday 22 June By Tim Pollard Motoring Issues 21 June 2010 09:51 The new UK Government's emergency Budget tomorrow is likely to announce a raft of spending cuts and tax rises bound to affect motorists.  The new Conservative-Liberal coalition government is taking the unusual step of holding an emergency summer Budget to reduce the national deficit, which stood at £156bn in 2009-10. The senior Cabinet members signed off the details of the Budget on Friday, but the details won't be confirmed until Tuesday 22 June 2010.Here's our preview of what to expect if you're a car owner:VAT riseMost pundits agree that the rate of value added tax will rise from today's 17.5%. If raised to 20% – the upper limit expected – it could raise an extra £11 billion a year for Government coffers.