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Mandelson to announce help for car makers

Lord Mandelson is the man charged with finding ways to fund UK Car purchases (yes, he of the dodgy mortgage debacle – at least he should know a few tricks!) as the credit crunch has dried up funding, leading to an unprecedented drop in new car sales in the UK. Mandelson is due to make a statement in the Lords just after 3pm today, outlining the help the government is going to offer to ailing car makers. Central to this package is expected to be a funding channel directly from the Bank of England to inject liquidity in to the car financing sector.

GM recalls 1.5 million vehicles for oil leak

General Motors is recalling nearly 1.5 million Buick, Chevrolet, Oldsmobile and Pontiac mid-sized cars equipped with a 3.8-liter engine because an oil leak could start an engine fire. Under hard braking, engine oil could leak past a heat shield and drip on the exhaust manifold. The National Highway Traffic Safety Administration says that could start a small fire that could spread to a plastic spark plug wire guide and beyond.

Concils 'confident' over winter salt stockpiles

COUNCILS are confident they can cope with bad-weather conditions on the roads this winter. A survey shows that local authorities in England and Wales have stockpiled more salt for this winter than last. A total of 1.3 million tonnes was stockpiled for winter 2012/13 and the Local Government Association (LGA) shows that 95% of councils are either maintaining or increasing stock levels this winter.