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EU formally questions French government assistance of Peugeot's finance arm

Recently, the finance arm of PSA/Peugeot-Citroën was in such debt trouble that it was pricing itself out of the car loan market. The rates it was paying to service its debt, which was rated one step above junk, were so high that it was forced to charge car-buying customers higher rates than they could find elsewhere. This was adding to Peugeot's already impressive woes by sending revenue out the door to competitors.
Two months ago a deal was worked out with the French government whereby the state would provide 7 billion euro ($9 billion USD) in bonds to guarantee the finance arm's loans. The French government could nominate someone to join the Peugeot board, Peugeot would guarantee more French jobs, and on top of that deal, other banks would provide non-guaranteed loans. The government would take no equity stake in the car company.
Although not yet finalized, the arrangement is meant to create some breathing room for Peugeot Finance to lower its interest rates for customers, and a government-nominated board member, Louis Gallois, was recently named to Peugeot's supervisory board. The arrangement was also openly questioned by at least three competitors: Ford, Renault - which is 15-percent owned by the French government after it received state aid - and the German state of Lower Saxony, itself a 15-percent shareholder in Volkswagen.

2014 Ford Fiesta ST priced from $21,400* [w/poll]

The 2014 model year brings a whole host of changes to Ford's Fiesta B-Segment fighter, the most important of which (to our enthusiast eyes, anyway) is the addition of a potent new ST model. The US-spec hot hatch was first shown at the 2012 Los Angeles Auto Show last November, and thanks to Ford's build-and-price site, we've now learned that the Fiesta ST will slide in at $21,400 when it goes on sale later this year (*not including $795 for destination).
Under the hood of the ST is a turbocharged 1.6-liter EcoBoost inline-four good for 197 horsepower and 214 pound-feet of torque, mated solely to a six-speed manual transmission. Ford hasn't released performance data on its pint-sized puncher just yet, but know that these numbers make the Fiesta ST ever-so-slightly more powerful than the larger Volkswagen GTI while returning an estimated 34 miles per gallon on the highway.
Elsewhere in the lineup, the standard Fiesta also gets a smattering of improvements for the 2014 model year, including a new 1.0-liter three-cylinder turbocharged engine and revised exterior styling. Pricing for the 2014 Fiesta sedan starts at $14,000, with the five-door model adding $600 to that number (again excluding the $795 destination fee).

The List #0178: Attend Rally School

Jessi and Patrick attend Team O'Neil Rally School in Dalton, NH, to learn how to shred in the snow. Veteran instructor and school founder Tim O'Neil demonstrates left-foot braking, slalom techniques, turning, proper ways to blip the throttle and more in this episode. They get behind the wheel of modern Ford Fiestas with front-wheel drive and a vintage Audi Quattro with all-wheel drive. They catch on quickly, and O'Neil tells Patrick: "Tell your grandchildren you are a rally driver." Watch as our hosts check "attend rally school" off their list. Have an RSS feed? Click here to add The List. Click here to subscribe to The List in iTunes. Click here to learn more about our hosts, Jessi and Patrick. Audi Ford Subaru The List Videos rally quattro