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U.S. equity firm to invest $70 million in Saab

Race-car fan and private-equity executive Alex Mascioli is pumping $70 million into Saab as the Swedish automaker works to stay afloat. Mascioli's firm, North Street Capitol, is buying $10 million in shares of Swedish Automobile, which owns Saab, and is also giving the company a $60 million loan to pay for the carmaker's reorganization. U.S.-based North Street Capital struck a deal in September to buy the Spyker sports-car business from Swedish Automobile for $44 million.

'Talking cars' in US safety drive

NEW CARS and light trucks may be fitted with technology that lets vehicles communicate with each other in a bid to avoid deadly crashes. A radio beacon would continually transmit a vehicle's position, heading, speed and other information. Cars would receive the same information back from other vehicles, and a vehicle's computer would alert the driver to an impending collision.

Renault Megane Sport Tourer Extreme launched

Renault has introduced a new entry-level Megane Estate - the Renault Megane Sport Tourer Extreme It sounds as if a Renault Megane Sport Tourer Extreme should be a rival for a Renaultsport, but it’s not. It’s the new entry-level package on the Megane Sport Tourer. But there’s nothing wrong with that, even if the ‘Extreme’ designation is a bit of an oxymoron (unless you think of it in terms of at the bottom extreme of the range).