Koenigsegg backs out of plan to buy Saab from GM

Saab future unclear as sale to Swedish firm fails
A Swedish specialty automaker has backed out of a deal to buy Saab from General Motors Co., casting serious doubt on the future of the troubled brand.

Automaker Saab files for bankruptcy
Saab Automobile filed for bankruptcy on Monday after attempts by Chinese investors to take over the loss-making brand were blocked by previous owner General Motors Co.

GM profit nearly doubles on stronger global sales
General Motors Co. 's quarterly profit nearly doubled, beating expectations, as the top U.S. automaker took a larger share of sales in its home market and made gains in Europe and Asia.

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