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Daimler agrees to unload remaining Chrysler stake

Daimler AG announced today that it has reached an agreement to unload its remaining 19.9 percent stake in Chrysler LLC. "Daimler's remaining 19.9 percent shareholding in Chrysler will be redeemed, and Daimler will forgive repayment of the loans extended to Chrysler, which were already written off in the 2008 financial statement," Daimler said in a prepared statement. All told, Daimler will write off $700 million as a result of the deal, according to the statement.

MPs call for parking charge reports

COUNCILS should publish annual parking-charge reports to show where revenue comes from and where it is being used, MPs said today. The use of parking charges and fines specifically to raise revenue was "neither acceptable nor legal" said Louise Ellman, chairman of the House of Commons Transport Committee. Launching a report by her committee into local authority parking enforcement in England, Mrs Ellman said: "There is a deep-rooted public perception that parking enforcement is used as a cash cow, so it's essential that local authorities apply stringent transparency." The committee said local authorities in England had a collective parking surplus in the hundreds of millions of pounds, but that the exact amount was subject to debate.

Bugatti Veyron Super Sport speed record cancelled by Guinness

The title of the world’s fastest car held by the Bugatti Veyron Super Sport has been removed from the Guinness World Records. But, nearly three years on from when the Veyron Super Sport achieved its world record run of 267.81mph, Guinness World Records have decided that it’s invalid. It seems the heirs to the McWhirter twins have discovered the Veyron Super Sport Bugatti used for their record setting run wasn’t a standard production car, but that Bugatti had removed its speed limiter.