Fork Bridge Emblem 1984-1985 Honda Magna Vf700 V45 on 2040-parts.com

News watch December 2010: today's auto industry news

Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hourFriday 31 December 2010• A judge in Manhattan has dismissed two lawsuits from hedge funds claiming for $2bn losses when it bought VW shares in 2008. Elliott Associates LP, Black Diamond Offshore and 39 other funds filed a complaint, claiming Porsche misled short-sellers who hadn't realised that Porsche had cornered the market in VW shares (Automotive News)Thursday 30 December 2010• Volvo plans to hire an extra 200 staff as it claims demand for its cars is rising.

Ringo Starr's Facel Vega II heads to auction

A Facel Vega II originally owned by The Beatles’ drummer, Ringo Starr, is going to auction at Bonhams' The London Sale on 1 December 2013. It’s expected to sell for around £350,000. You probably have several questions already – including, what is a Facel Vega II, exactly?

Driving Toyota's Pro/Celebrity Scion FR-S race cars

At the Streets of Willow Springs, there's a back straightaway that crests over a downhill and into a series of sudden, unsettling left turns. It's one of the most dramatic parts of the track, one that always trips up timid run groups. And as it turns out, heading blindly at 90 miles per hour, skimming the cones of the artificial chicane normally designed to slow lesser drivers who aren't Formula Drift prodigy Ken Gushi, will really put the fear of mortality into anyone who's signed up to ride shotgun -- especially when the car is the brand-new Scion FR-S race car for Toyota's Pro/Celebrity Race Series, here on its first outing.