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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.

Land Rover Defender Challenge announced (2014)

By Damion Smy Motor Industry 30 October 2013 12:01 Land Rover has confirmed that it is the official sponsor of the 2014 ‘Defender Challenger by Bowler’, which will see a field of up to 15 tricked-up Defender 90s hit the rough stuff as crews get down and dirty, Dakar style. It’s all about enticing those who are curious about rally raids, such as the legendary Dakar event that’s held early each year. A lack of experience, as well as costs, has made it difficult for novices looking to qualify for the necessary licence, so the Defender Challenge is ideal for rally wannabes looking to dip a toe in the water, so to speak, with no experience required to enter.

Toyota issues global recall to fix brake problems in hybrids

Toyota Motor Corp. launched a global recall Tuesday of 437,000 hybrid vehicles, including its popular Prius hybrid, as the world's No. 1 carmaker sank deeper into a quality crisis that has battered its image, hurt sales and triggered an onslaught of lawsuits.