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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.

Rolls-Royce expands Bespoke operation

Rolls-Royce has decided to expand its Bespoke operation due to increasing customer demand for bespoke items, a company trademark. The Bespoke operation team, based at Goodwood, West Sussex, consists of designers, engineers and project management staff and will be doubled by the end of this year, bringing the number of Bespoke experts to over 50. Already in 2011 Rolls-Royce has seen a growing demand for bespoke additions to their cars, leading to the need to recruit more staff in key areas to match growing customer demands.

New Rolls Royce Wraith on the road (video)

The new Rolls Royce Wraith hits the road The new Rolls Royce Wraith – revealed at the Geneva Motor Show in March – is Rolls Royce’s answer to the sport credentials of Bentley, and it’s a convincing effort. Essentially a Ghost Coupe, the Wraith’s styling is, perhaps, a little jarring with its almost dog humping back end, but from some angles it also looks remarkably elegant for a two door coupe that’s the size of a delivery truck. But the key to the Wraith’s appeal – apart from the sumptuous fixtures and fittings – is its dynamism and power, with 624bhp on tap from its v12 (and an earth-turning 590lb/ft of torque too) enough to shift the Wraith to 60mph in a very un-Rolls Royce 4.4 seconds.