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Saab finds a buyer

Bankrupt automaker Saab has found a buyer. But instead of picking up where the Swedish firm left off, the buyer plans to use Saab's resources for the production of electric cars. The new owners of Saab, a Chinese-Swedish investment group with Japanese backing called National Electric Vehicle Sweden AB (NEVS), did not release details on how much it paid for Saab or how much it planned to invest in the company.

Lifeboat resuces two swamped cars

A LIFEBOAT CREW rescued two cars which were swamped by the sea within 90 minutes of each other as the highest tides of the year caught drivers out. At least one of the vehicles which were wrecked by the submerging North Sea had been used to try to pull a boat out of the water, the RNLI said. A crew from Redcar, near Middlesbrough, responded to the first call-out at 3.20pm on Wednesday after coastguards received a number of 999 calls saying two people were on the roof of a vehicle on the town's beach as the waters came in.

First Sight: Smart Fortwo and Forfour

"Dress-down Wednesday," remarked a colleague as Daimler CEO Dieter Zetsche walked on stage wearing jeans and no tie. While it was a hot day in Berlin, Zetsche's excuse for his informal attire was the occasion – the new Smart is here. Its prospective owners, he explained – young, urban consumers with an active lifestyle, not the typical members of corporate Germany – adhere to a different, if similarly rigid etiquette.