Thursday, June 23, 2011

Saab cannot afford employee wages

23 June 2011 Last updated at 03:46 ET Saab's troubles have not stopped it unveiling new concept cars Swedish carmaker Saab has said it does not have enough money to pay its employees' wages. Owner Swedish Automobile said it was in discussions with lenders to try and obtain short-term funding. Earlier this month, the company said it had reached a deal with two Chinese firms to invest a total of 245m euros ($350m; �218m) in the company.

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