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.

New (2014) Mercedes S-Class highlights on video

The new Mercedes S Class (pictured) boasts a wealth of technology The new Mercedes S Class was launched last month as a styling evolution of the current S Class, but with a wealth of new safety and technology systems lurking under its, still familiar, skin. The S Class may be portrayed as a bit of a ‘Merchant Bankers’ car, but anyone who’s lived with one for any period of time will know there’s really nothing quite like it (well, if you ignore the mistake that was the W220 S Class), and now Mercedes has got its quality Mojo back, the W221 is once again a very special S Class, and the new W222 promises to be even more special. We know that the 2014 S Class will get a range of engines from frugal 4-cylinder to potent V12 – with engines to suit all in between – but whatever engine you choose there will be a raft of technology at your fingertips (some at extra cost depending on the model you buy), so Mercedes has been busy producing a ‘Story’ video highlighting much of the new S-Class’s tech.

Britons warned of highway robbery

HOLIDAYMAKERS have been warned that Britons are being targeted by highway thieves on a busy Spanish toll road. More than 120 British drivers have been the victims of sneaky thefts on the AP-7 motorway near Barcelona, according to the AA. Thieves have been flagging cars down and then distracting their occupants while one of the offenders steals their possessions.