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Kia recalls 7,000 cars

KIA IS recalling more than 7,000 of its UK models due to a possible seatbelt problem. The recall affects 5,787 Sportage models and 1,432 Soul vehicles and concerns a possible fault with the vehicle's seatbelt pre-tensioner. Kia said that although it was not aware of any injuries resulting from this possible fault, discovered as a result of monitoring of customer vehicles, it was concerned that some pre-tensioners might not work properly due to a faulty piston within the mechanism.

How Fisker fell apart

At last week's politically charged congressional hearing on the troubles of Fisker Automotive, Rep. Jim Jordan, R-Ohio, said that the company had "no business acumen" and that "taxpayers have effectively subsidized luxury novelty vehicles for the likes of Justin Bieber, Leonardo DiCaprio and Al Gore." Ouch. Republicans eager to score points against President Obama had a field day last week with Fisker.

Saab increase pay for Board members as Swedish Debt Office circles

Saab Meltdown gets closer It never rains, but it pours. And for Saab and Victor Muller it has been a year or more of almost unbroken storms, punctuated with just the odd ray of financial sunshine as Victor Muller combs the planet for investors to stake a claim in his chocolate teapot company. There has been no production at Saab of any consequence since April; many suppliers still remain unpaid despite substantial injections of cash from Chinese buyers; wages have not been paid and now, just to rub salt in the wound, it’s been revealed that board members received pay rises of up to 650 per cent in 2010.