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General Motors CEO Rick Wagoner to quit, reports say

General Motors CEO Rick Wagoner is about to resign after eight years as the Obama administration prepares to decide on the automaker's request for additional government rescue loans, two people familiar with the matter said. A senior Obama administration official told NBC's John Yang that Wagoner, 56, was asked to step down by the White House. The automaker, which has lost about $82 billion since 2004, awaits word Monday from President Obama on a request for as much as $16.6 billion in additional U.S.

Ford bets customers will pay premium prices for the Fiesta

Ford Motor Co. will charge more than $23,000 for a fully loaded Fiesta, a new car smaller than the Focus. Ford thinks consumers are ready to pay premium prices for small cars, which long have been dominated by budget shoppers.

Top Gear Tonight: Ferrari F12, BAC Mono, Ron Howard & the world’s best taxi

Jeremy drives the BAC Mono (pictured) in tonight’s Top Gear Tonight’s second episode of series 20 of Top Gear gets back to the usual format. The new reasonably priced car is in action for the first time as film director Ron Howard – who’s just done Rush, which chronicles the rivalry between James Hunt and Niki Lauder during the 1976 F1 season – gets behind the wheel of the Vauxhall Astra to set a lap, talk about cars and his new film. Jeremy Clarkson gets to play with the stunning Ferrari F12 Berlinetta, which with 731bhp, 0-62mph of just 3.1 seconds and a top speed of 211mph should induce more than a grin or two from Jezza as he takes to the roads of Scotland.