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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.

Extreme sports safety kit to inspire Volvo technologies

SWEDISH car maker Volvo is aiming to develop new safety technologies based on processes used to make extreme sports safety gear. The firm has announced a partnership with POC, another Swedish company, which designs lightweight, strong and high-tech safety equipment for climbers, snowboarders, mountain bikers and other extreme sports fanatics. The initial focus will be on the relationship between cars and cyclists, with the specific aim of developing a one-way method of communicating that the driver has seen the cyclist.

New Volvo V40: Now it’s official

The new Volvo V40 finally arrives officially After endless leaks of photos and videos, the new Volvo V40 has now been revealed officially ahead of Geneva 2012. In the last two weeks we’ve had the 2012 Volvo V40 leaked all over, from a grainy scan to a full set of official photos and even a new V40 promotional video. But finally, Volvo has thrown in the towel and we get official information on the 2012 volvo v40 released.