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Bentley opening new R&D center in Crewe

The world's fastest lorries. That's how Ettore Bugatti referred to cars from Bentley back in the day, employing the British term for trucks, long before the two became sister companies. Those immortal words will come true when Bentley launches its new SUV, which promises not only to be the most luxurious and prestigious but also the first to crack the 200-mile-per-hour mark. But it won't come without its share of investment. Bentley and its parent company Volkswagen will surely have invested untold millions to bring the luxury crossover to market, but the vehicle itself isn't the only major investment the British automaker and its German owners will have made when it does. Bentley is also embarking upon an unprecedented expansion of its headquarters in Crewe. The massive expansion plan, budgeted at over $60 million, will create over 300 new jobs and include the creation of a new research and development center on site. The facility will cover a good half-million square feet and include a design studio, R&D offices and technical workshops that will be home to some 1,300 engineers and will be "the latest step in preparing Bentley's infrastructure to bring the world's first ultra-luxury SUV to roads in 2016." Bentley may undertake some of the SUV's production at home in Crewe, but much of the work is expected to be completed alongside the next Volkswagen Touareg, Audi Q7 and Porsche Cayenne in Slovakia. The expansion plan was announced by Bentley chief Wolfgang Durheimer (also CEO of Bugatti) while George Osborne, Chancellor of the Exchequer (Britain's equivalent to the Secretary of the Treasury or most any other government's Minister of Finance) was visiting Crewe. "Bentley is an iconic British Brand that exports around the world. Their decision to create another 300 jobs in R&D on a new site providing close to 1,000 new jobs is fantastic news for Crewe and for Britain," said Osborne. "The investment will not only create jobs at Bentley, but support many more through suppliers across the UK." MULTI-MILLION POUND SITE EXPANSION BRINGS NEW JOBS TO BENTLEY - GBP40 million planned investment into Bentley headquarters in Crewe - New research and development centre to house 1,300 Bentley engineers - 300 new roles created (Crewe, 4 December 2014) Today, Bentley has announced the latest phase in the biggest site development in the company's history.

Volkswagen posts quarterly profit despite drop in sales

Volkswagen returned to profit in the third quarter as surging Chinese demand for luxury cars helped offset a 1.1% drop in vehicle deliveries due to the pandemic, sending its shares as much as 3% higher on Thursday. The German automaker's return to the black comes amid spiking coronavirus cases in Europe that led governments in France and Germany to order their countries back into strict national lockdowns on Wednesday. "The coronavirus remains a central problem," Volkswagen Chief Financial Officer Frank Witter said in a conference call with reporters. "This situation now is anything but relaxed." But Witter said the group expected the economic recovery to continue and did "not anticipate any nationwide lockdowns in larger markets." Witter said the takeover of U.S. truck maker Navistar International by Volkswagen's trucking unit Traton was an important acquisition, but the "current economic climate will not make this easy." Volkswagen reiterated it expects to post a profit for the full year, saying its business "recovered noticeably" in the third quarter as sales in China of premium vehicles, including Audi and Porsche sports cars, rose 3%. The quarterly performance was also aided by a series of cost-cutting measures launched earlier this year. Volkswagen said its net liquidity rose to 24.8 billion euros from 18.7 billion at the end of the second quarter. Excluding one-time items, third-quarter operating profit was 3.2 billion euros ($3.8 billion), down from 4.8 billion euros a year earlier, but up from a second quarter loss of 1.7 billion. In a note to clients, Jefferies analyst Philippe Houchois described the results as a "solid performance with strong cash, but relatively muted in the context of the (auto) sector recovery." Last week, German rival Daimler reported a record 24% jump in Chinese demand for its Mercedes-Benz cars, boosting its margins in the third quarter. Italian-American Fiat Chrysler Automobiles and Peugeot manufacturer PSA Group both also posted solid results this week. Witter said Volkswagen could not say for sure whether it would meet EU CO2 emissions targets this year, adding "it will be a tough race." At 1030 GMT, Volkswagen shares were up 2.9% at 129.20 euros. Related Video: Earnings/Financials Audi Bentley Bugatti Lamborghini Porsche Volkswagen

The myth and mystery of The Bentley Cocktail

The other day, we were trying to find ways to delight a visiting relative who requested a cocktail made with apple brandy (don't ask), and after poring through Mr. Boston and The Playboy Bartender's Guide we were fortunate enough to come across a recipe. This particular concoction piqued our interest not just because it was a means to get rid of that bottle of Calvados that had been malingering on our bar cart, drawing fruit flies and quizzical scorn, since it was gifted to us at the launch of the Peugeot 407 in 2004. It was because of the automotive connection. (Duh.) The cocktail is called The Bentley, and it has a sexy, if probably apocryphal, origin story. According to the legend, the Bentley Boys – rich, Jazz Age, car-loving, British playboy racers – invented the drink after their first of five Le Mans victories, in 1924. Canadian-born WWI hero and Olympic swordsman John Duff and local English Bentley test driver and Bentley 3-Liter Super Sport owner Frank Clement were the only British team and vehicle in this second-ever endurance race, surrounded by more than three dozen French drivers and cars (and a couple of Germans). But despite typical British maladies ­– broken shocks, seized lug nuts, and a dysfunctional gearshift – and a slew of fires, punctures, and chassis-snapping wrecks amongst the field, they persevered. Arriving at their celebratory party at their club near their adjoining apartments in London's exclusive Mayfair neighborhood, they discovered that all of the alcohol had been consumed, with the exception of Calvados and Dubonnet. Mixing these together in equal parts, and adding some bitters, they allegedly invented a drink to settle their affluent nerves. Like most folkloric explanations for the existence of some gross cocktails – the wisecrack-inspired Tom Collins, the whole-cloth-concocted Seelbach – the tale seemed as compelling to us as it was ridiculous. Fortunately, among our friends are many with mastery in mixology, so we decided to put the mystery (and recipe) to them. "To be honest, I'd never even heard of the cocktail," said Tokyo-based international beverage expert Nick Coldicott, the most skeptical of our potation pundits. "And that story smells fishy to me. It seems unlikely that a party venue would have enough of a booze collection to have Calvados and Dubonnet, but not enough whisky or gin or champagne to see the party out.