luxury carmaker

General Motors Co. said Tuesday it has reached an agreement to sell its struggling Saab Automobile arm to the small Dutch luxury carmaker Spyker Cars NV.

• Ford (NYSE: F) has agreed on intellectually property rights with Geely Holding Group on the company's bid for Swedish luxury carmaker Volvo, according to reports.
  
  The move would clear one more hurdle that faced the Chinese company's attempt to spread into the international auto market as Geely is looking to move its brand from economical cars to more upscale products.
  
  Geely is looking to buy the Volvo brand outright from the U.S. automaker.

General Motors signed a deal on Tuesday to sell Saab to Koenigsegg, a tiny Swedish luxury carmaker, the first in a series of big sales the U.S. group is planning as it slims down.