Raymarine E70653 Axiom 2 Pro 9 S on 2040-parts.com

Saab unable to pay wages as financing crisis deepens

Saab's money troubles have worsened to the point that the struggling car maker is unable to pay its employees' wages on the eve of the Swedish mid-summer vacation period.In a brief official statement last night, Saab's parent company Swedish Automobile N.V (formerly Spyker Cars) announced that it was 'will be unable to pay the wages to employees as it has not yet obtained the necessary short-term funding.'  While Swedish Automobile and Saab continue to pursue options for securing short-term financing to solve the cashflow crisis, the company admitted 'there can however be no assurance that these discussions will be successful or that the necessary funding will be obtained.' Saab share prices tumble, Swedish government will not intervene Reaction to the worsening financial crisis from stakeholders has been predictably bleak. Swedish Automobile's shares dropped 61% in value yesterday, and are currently trading at 0.948 euro. The Swedish government, already guaranteeing a €400m loan to Saab by the European Investment Bank, shows no inclination to bail-out Saab, which employs 3800 staff.

Jaguar XFR-S – tease take 2

The Jaguar XFR-S – a more powerful version of the XFR – will debut tomorrow at the Los Angeles Auto Show, but we get a second tease first. Jaguar’s punt at making the now ageing XFR credible against the new BMW M5 – the Jaguar XFR-S – is getting its debut at the Los Angeles Auto Show tomorrow, but ahead of that full reveal Jaguar is teasing interest with its second teaser photo of the most powerful saloon they’ve ever built. Last week we got a front view of the XFR-S with its more aggressive nose (and Jaguar’s favourite ‘Speedy’ blue paint job) and this week we get to see the thumping great carbon fibre rear wing Jaguar has bolted on the back of the XFR-S.

Hyundai U.S. fuel economy mess cleverly sorted

Hyundai and Kia’s misstated fuel economy figures in the U.S. could have been a PR disaster, but it looks like prompt action has limited any real damage. We moan constantly about ‘Official’ fuel economy figures (yes, we moan a lot).