BRIEFS - GM shares jump on return

• GM shares jump on return

NEW YORK (AP):

General Motors stock began trading on Wall Street again Thursday, signalling the rebirth of an American corporate icon that collapsed into bankruptcy, and was rescued with a US$50 billion infusion from taxpayers.

The stock rose sharply in its first minutes of buying and selling, going for nearly US$36 per share - almost US$3 more than the price GM set for the initial public offering. The stock pulled back slightly by early afternoon and closed at US$34.19. It had traded for less than a dollar when the old company filed for bankruptcy last year.

• Lotus to buildengines, cars inIndyCar series

LOS ANGELES (AP):

The fight over who controls the Lotus brand in motorsport took another major step Thursday when it was announced that Group Lotus will supply engines to the IndyCar series from 2012.

Group Lotus, owned by Malaysian government-run car company Proton, has the rights to the Lotus road car brand, but there is an ongoing legal dispute over ownership of the famous name in motor sports.

As well as Group Lotus, the rights to the Team Lotus motorsport brand is claimed by Air Asia entrepreneur Tony Fernandes, who runs the Lotus Formula-One team.

Thursday's announcement ups the stakes in the legal dispute, with Group Lotus now involved in the biggest open-wheel racing rival to F1 - Indy Car.

• VW steps upinvestment

BERLIN (AP):

Volkswagen AG says it plans to invest €51.6 billion (US$70 billion) over the next five years as it focuses on modernising and extending its brands' product range.

The company said last Friday that it will put €41.3 billion of the money into property, plant and equipment for its automotive division - 57 per cent of that in Germany, where it has its Wolfsburg headquarters.

Volkswagen says the group, which also includes brands such as Audi, Skoda and Seat, will focus on new and successor models "in almost all vehicle classes" and will launch new generations of engines.

• Judge moves to deny dismissalof Toyota suits

SANTA ANA, California (AP):

A federal judge in California said Friday he will not dismiss lawsuits against Toyota from car owners who claim sudden-acceleration defects caused the value of the vehicles to plummet.

US District Judge James Selna said in a 63-page ruling that he believes suits filed by car owners who say the value of their vehicles plummeted after a series of recalls by the Japanese automaker can move forward. Selna said he will issue a final ruling within a week.

A hearing over a similar motion to dismiss lawsuits that seek compensation for injury and death due to sudden acceleration will be held in front of Selna on December 9.