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French government vows Renault reform after meeting with Ghosn

The French government will see to it that the individuals responsible for the now debunked Renault SA espionage affair are dealt with, the Finance and Industry ministers said in a statement. "The ministers underscored that they will pay close attention to organizational reform and individual responsibility (at Renault) based on the result of the audit," Finance minister Christine Lagarde and Industry Minister Eric Besson said in a joint statement after meeting with Renault CEO Carlos Ghosn on Thursday. The French state, which owns 15 percent of Renault, has called for a thorough investigation into discredited claims that three Renault executives were spying on the carmaker, possibly for a foreign government.

GM posts $7.6 billion profit for 2011

General Motors on Thursday posted a $7.6 billion profit for 2011, while recording its smallest quarterly profit of the year in the fourth quarter. Net income for the October-through-December period fell 7 percent from the year-earlier period to $472 million, as a $562 million loss in Europe--the steepest of the year there--weighed on the automaker's bottom line. North American earnings nearly doubled.

Rowan Atkinson’s McLaren F1 cost nearly £1 million to fix

Rowan Atkinson pranged his McLaren F1 in 2011 in Cambridgeshire and now, after a repair bill of £910,00, it’s back. We all know what a petrolhead Black Adder and Mr Bean actor Rowan Atkinson is, and most of the car world knows he owns a McLaren F1, and that he had a nasty accident in it in 2011. Rowan lost control of his F1 in damp and unpleasant conditions on the A605 near Peterborough and ended up going backwards in to a tree.