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Petrol price hits three-year low

THE PRICE OF FUEL at the pumps has fallen to a three-year low, according to AA figures. As of yesterday, the UK average petrol price was 129.12p a litre - the lowest since February 23 2011 - while the average diesel price was 133.55p a litre, the lowest since February 6 2011. AA public affairs head Paul Watters said: "Asda triggered something of a supermarket price war on Tuesday, which was enough to send average UK pump prices to their lowest for more than three years.

Mercedes removed Lieb over compliance issue, report says

Daimler AG dismissed Mercedes-Benz USA chief Ernst Lieb for violations of human resources and ethics policies relating to household expenses paid by the automaker, The Financial Times reported Wednesday, citing sources close to the company. Lieb was abruptly removed as head of the automaker's second-largest market on Oct. 17 after more than 30 years at Daimler.

GM moves Korean design studio to Seoul

General Motors is moving its Korean advanced design studio from Incheon to the trendy Gangnam district of Seoul. The studio, one of 10 design studios worldwide for GM, employs 30 designers. It has prime responsibility for GM's small cars, such as the Chevrolet Aveo, Spark and Cruze.