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Chrysler's main creditors reach deal with U.S.; others hold out

The U.S. Treasury Department has reached a tentative debt-reduction agreement with Chrysler's main creditors but still must get other lenders to sign on for the deal to take effect, three people with knowledge of the talks said today. The accord with JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley would reduce Chrysler's $6.9 billion debt to $2 billion, which would be repaid by Chrysler in cash, they said.

One Lap of the Web: Cizeta-Moroder, predicting Volvo's demise and the best rally corner on earth

We spend a lot of time on the Internet -- pretty much whenever we're not driving, writing about or working on cars. Since there's more out there than we'd ever be able to cover, here's our daily digest of car stuff on the Web you may not otherwise have heard about. -- What does electronica producer extraordinaire Giorgio Moroder have to do with cars?

New Honda NSX Concept to take on Goodwood Hillclimb in June

The new Honda NSX Concept will take on the Goodwood hillclimb in June The arrival of the production version of the new Honda NSX Supercar is schedlued for 2015, and Honda are making sure the new NSX will arrive with high expectations. They’ve already announced the new NSX will go racing before it even goes in to production and they’ve had a new NSX out on track to try and show its ‘Green’ credentials are a positive not a negative. Now, Honda has announced that we’ll all be able to get up close and personal with the new NSX as it will be at the Goodwood Festival of Speed in June and will take on the Goodwood hillclimb.