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Senate releases $350 billion more in bailout money

The Senate voted Thursday to release a second round of $350 billion in federal aid to rescue financial institutions. The money could be the source of additional loans to automakers, auto finance companies and perhaps suppliers. An earlier allocation of $350 billion funded the first installments of emergency loans to General Motors and Chrysler LLC.

Commentary: Victoria Beckham appointed Creative Design Executive at Range Rover

On hearing that Victoria Beckham (aka Posh Spice) had become Range Rover's Creative Design Executive last week, initial reaction was to check the date – was it April 1st? Apparently Land Rover wasn't fooling anybody, instead sending shockwaves through the automotive industry with the announcement, made at the unveiling of the Evoque at Kensington Palace, London. Celebrity brand tie-ups are nothing new – Justin Timberlake is currently the Audi A1's brand ambassador – yet the implication is that Beckham's involvement with Range Rover will go much further.

Bristol Cars is sold to Frazer-Nash

Bristol Cars has been sold. Kamkorp Autokraft, part of the Frazer-Nash group, has announced it has successfuly acquired the assets of Bristol Cars from the administrators. Bristol entered administration last month, and CAR reported on a potential sale last week.