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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.

Skoda Citigo Sport LOOKS Sporty

The Skoda Citigo Sport has been revealed as a sporty take on Skoda’s little city car, with more aggressive looks and lowered suspension. So Skoda are making a virtue out of the lack of any power boost for the new Citigo Sport by calling it the ‘Seemingly Powerful’ Citigo with sporty styling, lowered suspension and new interior. It looks the part, it just doesn’t go any better than the standard Citigo with its 1.0 litre 60PS engine.

Carbon Motors denied government loan for police cruiser

Carbon Motors, an Indiana-based company that aims to build police vehicles, said on Wednesday that the Department of Energy has denied its application for a loan under the Advanced Technology Vehicle Manufacturing program. The loan program was created under President George W. Bush and continued with President Barack Obama.