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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.

Mystery new luxury British sportscar planned

The name David Brown is famously associated with Aston Martin, as the company was once owned by a British entrepreneur who is now immortalised in a series of “DB” model lines, including James Bond’s favourite DB5 and the current DB9. We digress. Now another David Brown is hoping to make his mark – or should that be marque – on the British luxury motoring scene by launching an all-new David Brown Automotive brand in April 2014.

Fiat will rebadge Dodge Journey in Europe

Chrysler Group will stop selling the Dodge Journey in Europe and will instead market the crossover with a Fiat badge, Fiat sources said. The Fiat version of the Journey will be called the Freemont, the sources said. The Freemont is a key part of Fiat-Chrysler CEO Sergio Marchionne's plan to cut development costs and boost capacity utilization at the automakers' factories by cross selling vehicles from Fiat group and Chrysler group brands.