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GM to cut 14% of global salaried workforce this year

General Motors, facing a Feb. 17 deadline to show the government it's a viable company, said on Tuesday it will cut 14 percent of its salaried jobs globally by the end of the year and slash the salaries of many who remain. Salaried employment will drop to 63,000, from 73,000, the company said in a statement.

Gumpert Insolvent

German supercar maker Gumpert has filed for insolvency after a foray in to China failed to realise the expected sales. We’re beginning to wonder if the only garden shed supercar makers actually able to make a go of things are British? Gumpert – German maker of extreme supercars – has instigated insolvency proceedings after its plan to make the newly wealthy Chinese fall in love with its bonkers cars floundered.

Skoda Citigo (2011) first official pictures of Skoda's Up

It's all about economies of scale these days, so don't be surprised that Skoda's whipped the covers off its take on the new Up city car just days after Volkswagen unveiled its own at Frankfurt. The new Skoda Citigo (see what they did there?) is the Czechs' sixth model line and will go on sale in UK dealers in summer 2012. Skoda Citigo: the lowdown The four-seater Citigo naturally shares most of its engineering DNA with the Up.