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Ban to protect cyclists from HGVs

LORRIES without safety equipment to protect cyclists and pedestrians are to be banned from travelling through London, it has been announced. Transport for London (TfL) and local authorities have joined forces to agree a new traffic regulation which will come into force by the end of the year. The proposed ban will require every vehicle over 3.5 tonnes to be fitted with sideguards to protect cyclists from being dragged under wheels, as well as mirrors to improve a driver's view of cyclists and pedestrians.

Maybach reaches end of the line

Daimler AG is set to announce the closure of its Maybach ultra luxury brand this weekend, according to reports. The underperforming 57 and 62 limousines are to be killed off in 2013, following a decision from chairman Dieter Zetsche who has elected not to invest in their respective replacements for 2014. Following a concept car preview at the 1997 Tokyo motor show, Maybach was resurrected in 2002 after Daimler AG failed to purchase either Rolls-Royce or Bentley from then owners, Vickers.

Bondholders snub GM, bankruptcy filing likely

Nowhere near enough General Motors bondholders agreed to exchange their debt for stock before a midnight Tuesday deadline, making a bankruptcy filing by the automaker highly likely. GM had set a threshold of 90 percent of the $27 billion in bond debt it wanted to exchange for 10 percent of the stock in a reorganized company for the deal to take place. In a statement Wednesday, GM said the amount of notes tendered was substantially less than the 90 percent target.