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Saab files for reorganization, seeks $1 billion to survive

Saab is seeking $1 billion (793 million euros) to be self-financing, the company said on Friday after it filed for reorganization under a self-managed Swedish court process. The General Motors-owned Swedish brand said it will work "to create an independent business entity" and will concentrate production, design and engineering in Sweden. Saab said it would continue to operate as normal during the reorganization process, with GM and the Swedish government providing some support.

South Wales to get new racing circuit for 2015

Wales, already home to some of the UK’s best driving roads, is getting an all-new purpose-built racing circuit. The 3.5-mile track, to be christened ‘Circuit of Wales’, is due to be opened in 2015/2016, with work beginning on the site later in 2013. Where will the Circuit of Wales be built?

Rolls-Royce puts dragons on Phantoms for the Chinese New Year

Rolls-Royce is commemorating the 2012 Chinese New Year with a Year of the Dragon Collection of limited-edition Phantoms boasting dragon-themed detailing. The Bespoke design team at Rolls-Royce drew inspiration from the dragon of the Chinese zodiac--symbolizing power, prosperity and good fortune--for which this year will be named. A collection of Phantoms will be detailed as follows.