Motorcorp group general manager James Yates says Motorcorp only found out Publicis was going under when another agency approached him looking to take over the account. 

Queenstown tourism operators are scrambling to establish a viable local biofuel industry before government assistance expires.

The Queenstown Lakes Biodiesel Consortium’s pilot scheme has been the beneficiary of a two-year government manufacturing subsidy of 42.5c a litre, which has kept pump prices down to just one or two cents more than regular fuel.

China's Zhejiang Geely Holding Group has bought Volvo cars from Ford Motor Company for $US1.8 billion in a move that for the first time puts a Chinese company in charge of a major global car brand.

The deal comes after China surpassed the US last year as the biggest car market and puts a Chinese company. Under the terms, Ford will get $US1.6 billion in cash and a $US200 million bond from Geely.

Fiat CEO Sergio Marchionne’s dream of a new global force in carmaking is rapidly taking shape.

He has added General Motors’ Swedish unit Saab to his list, which already includes the bankrupted Chrysler and GM’s main European operations, Opel and Vauxhall.

Mr Marchionne has spent two days in Germany talking to government officials about acquiring Opel and is now in the US where he will meet Chrysler management.