Saab seeks court protection from creditors

Saab is filing for protection from creditors from a Swedish district court, the automaker's owner, Swedish Automobile, said Wednesday. Saab is seeking court approval for a voluntary reorganization to secure short-term stability while it waits for funding from Chinese investors Pang Da and Zhejiang Youngman, Swedish Automobile said in a statement. Victor Muller, CEO of both Saab and Swedish Automobile, said in a statement: "We have concluded that a voluntary reorganization process will provide us with the necessary time, protection and stabilization of the business, allowing salary payments to be made, short-term funding to be obtained and an orderly restart of production to be prepared." Muller remains optimistic about Saab's future.

F1 boss denies 'corrupt bargain'

MOTORSPORT TYCOON Bernie Ecclestone has appeared at a High Court trial to defend himself against allegations that he made a "corrupt bargain" in a bid to stay at the top of Formula 1 racing. Mr Ecclestone has been accused of entering into a "corrupt agreement" with a banker to facilitate the sale of the Formula 1 group to a buyer "chosen" by him, A German media company says it lost out as a result of the deal and has taken legal action against Mr Ecclestone - chief executive of the Formula 1 group. Mr Ecclestone says Constantin Medien's claim "lacks any merit" and denies any "conspiracy".

Alfa Romeo Milano – spy photo

The new Alfa Romeo Milano - snapped on a mobile 'phone and posted on Facebook And that’s the case with this picture of the new Alfa Romeo Milano, which has surfaced on the Interweb (on Facebook – I wonder if it was taken by the wife of the head of MI6?!) and lets you see just what the new Alfa Romeo Milano will look like. Obviously taken on a ‘phone, the quality isn’t great, but there’s more than enough detail to see what the car will offer. Taking design cues from the Alfa Romeo 8C (which did the Goodwood Hillclimb at the weekend), the Milano is more than a little reminiscent of the cracking Alfa super mini – the Alfa Romeo MiTo.