The relisting of General Motors sent stocks on Wall Street surging as investors also bet that Ireland would receive a rescue package.

Nearly 430 million GM shares were traded as the US government sold much of its stake. The shares immediately rose above the $US33 issue price and peaked at $US35.99.  They were $US34.07 at the market close (10am NZ time).

The Dow Jones Industrial Average rose 173.35 points, or 1.6%, to 11,181.23, its first gain in three days.

Alcoa led the blue-chip index's gains, jumping 43.7%, while Boeing put on 2.9% and Caterpillar added 2.4%.

General Motors has confirmed the deal to sell its Saab subsidiary to tiny Dutch sports-car maker Spyker Cars is going ahead, subject to a Swedish government loan guarantee.

Spyker, which makes only a few dozen sports cars a year and has never made a profit, has agreed to pay GM at least $US74 million in cash.

The European Investment Bank will provide a €400 million ($800 million) loan guaranteed by the Swedish government.

Tiger Woods is handing back the SUV that brought his marital infidelities to light and ruined his golfing career.

General Motors says it has ended an agreement that allowed the fallen golf star to have free access to its vehicles.

Woods' wife famously used a golf club to smash the windows of the vehicle, which crashed into a tree outside his Florida mansion.

Woods' endorsement contract with GM's Buick brand ended in 2008, but an arrangement remained in place that allowed him to keep several GM vehicles on loan.

Far from taking a corporate breather after leaving Microsoft, New Zealand’s highest ranked business executive, Chris Liddell, is to take a top position at General Motors.

Mr Liddell, 51, will become chief financial officer and vice chairman at the Detroit-based  US car giant on January 1, He will succeed Ray Young, who becomes GM’s vice president of international operations on February 1.

In a then surprise move, Mr Liddell announced late in November that he would leave Microsoft, where he was CFO.

Down but not out – General Motors’ Saab division in Sweden could yet be sold to luxury Dutch sports car maker Spyker Cars.

Earlier, talks with Spyker collapsed, leading GM to say it will wind it down the Saab business.

"We have made every effort to resolve the issues that were preventing the conclusion of this matter and we have asked GM and all other involved parties to seriously consider this offer," Spyker chief executive Victor Muller said.

GM said it had received several inquiries about Saab and it was looking at all the offers.

In a further sign China is to become a major force in car manufacturing, Beijing Automotive is being tipped as the purchaser of General Motors’ Saab subsidiary in Sweden.

Reports in the US say a tentative deal is close for Beijing Auto to acquire Saab’s intellectual property for two sedans and equipment to produce those cars. This will enable Beijing Auto, one of China's main state-owned auto makers, to integrate the Saab technology into its own vehicles.