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Saab says it will restart production after securing short-term loan

Saab aims to restart production within a week after its owner, Spyker Cars, secured a 30 million euro ($44.7 million) short-term loan to help ease its cash crunch. Spyker said it will borrow the money from Gemini Investment Fund in a convertible loan agreement with a 6-month maturity. The interest rate of the loan is 7 percent a year and the conversion price is 4.88 euros per share.

Lexus RX450h – UK ready

The Lexus RX450h - the Lexus 4x4 Hybrid - is now on sale in the UK No one can deny that Lexus bolt a car together very well. So if you’re looking for a well-made, luxurious, quiet car that’s not necessarily inspiring to drive then Lexus is a good starting point. And if you want a luxury 4×4/SUV, but can’t bear the disapprobation of the tree-huggers and eco-loonies, then this is an equally good place to start.

Computer gamer headed for Formula 1

THE WINNER of a computer game competition is now headed for the real world of Formula One with World Champion Sebastian Vettel’s Infiniti Red Bull racing team. Jann Mardenborough won Nissan’s competition to find a new racing driver by beating his rivals on a racing simulator game. His prize was a seat in a variety of racing cars since his victory in 2011 and now he will race in the GP3 series, which is the recognised route to Formula One.