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☆ House Judiciary chief launches investigation into Formula 1 over Andretti exclusion
▼ + stars: | 2024-05-07 | by ( Sahil Kapur | ) www.cnbc.com time to read: +2 min

The chairman of the powerful House Judiciary Committee is launching an investigation into Formula 1 and its U.S. owner, Liberty Media , to demand answers about the sport's decision to deny Andretti Global a spot on the grid. The letter is dated Tuesday and addressed to Greg Maffei, the president and CEO of Liberty Media, and Stefano Domenicali, the president and CEO of Formula One Group. "Delaying Andretti Cadillac's entry into Formula One for even one year will harm American consumers to benefit failing Formula One teams," Jordan writes. "Limiting the number of teams in Formula One will increase the price of sponsoring or buying into an existing Formula One team. The letter comes days after Mario Andretti, a former Formula 1 world champion, visited Capitol Hill and spoke at a press conference with lawmakers to pressure the sport to admit Andretti Global.

Persons: Mario Andretti, John James, Jim Jordan, Greg Maffei, Stefano Domenicali, Andretti, Jordan Organizations: Washington , DC, Andretti, Capitol, General Motors, Committee, Liberty Media, NBC News, Formula One, Formula, One, Andretti Global, Capitol Hill Locations: Washington ,, Ohio, United States, Michigan

☆ U.S. Congress members demand answers on Andretti's exclusion from Formula 1
▼ + stars: | 2024-05-01 | by ( Sahil Kapur | ) www.cnbc.com time to read: +5 min

Twelve members of the U.S. Congress sent a letter to Formula 1 owner Liberty Media on Wednesday demanding answers for why it is excluding Andretti Global from the sport, giving the American team powerful new allies in its bid to enter F1. "Our team, Andretti Global, is part of every major racing discipline in the world. Last fall Formula 1's governing body, the FIA, accepted the racing team's push to join the grid, saying it met the criteria. Because we have an obligation to protect the American consumer, to protect American companies, and that is our first allegiance. The move marks an earthquake for F1 as Newey is widely regarded as the greatest car designer in the sport.

Persons: Mario Andretti, Andretti Cadillac, John James, Gregory Maffei, —, that's, Andretti, James, It's, Jim Jordan, Adrian Newey, Sebastian Vettel, Max Verstappen, Newey Organizations: Auto, U.S, Capitol, U.S . Congress, Liberty Media, Andretti Global, American, General Motors, Formula, Andretti, GM, Cadillac, Rep, FIA, Formula One Management, Miami, Prix, Las Vegas, Red Bull Racing, Red Bull, NBC News Locations: U.S, Michigan, America, Ohio, Austin

☆ ‘Massive for the sport’: Lewis Hamilton’s blockbuster move to Ferrari hailed as a major coup for F1
▼ + stars: | 2024-02-02 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Former Formula One drivers believe Lewis Hamilton's blockbuster move to one of the most iconic teams in motorsport represents a major coup for the auto racing league. Mercedes on Thursday confirmed that the seven-time world champion will join Ferrari in 2025 after activating a release option in his contract. An extraordinary run of success has since dried up, however, and Hamilton has not won a race since the Saudi Arabia Grand Prix in Dec. 2021. Ferrari , meanwhile, released a short statement saying the team was "pleased" to announce Hamilton would join on a multi-year contract. The news sent shockwaves through F1, with 2009 world champion Jenson Button saying he'd also been taken by surprise.

Persons: Lewis Hamilton of, Mercedes, Lewis, Toto Wolff, Hamilton, Ferrari, Jenson Button, he'd Organizations: Mercedes, Abu, Yas Marina Circuit, United, United Arab Emirates, Former Formula, Ferrari, Hamilton, Saudi Arabia, Prix Locations: Lewis Hamilton of Great Britain, Abu Dhabi, United Arab, Saudi

☆ Technical head Elliott leaves Mercedes F1 team
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

LONDON, Oct 31 (Reuters) - Former Formula One world champions Mercedes announced the surprise departure of chief technical officer (CTO) Mike Elliott on Tuesday only months after he took on the role in a job swap with James Allison. Elliott had been appointed technical director in July 2021, with Allison moving to the CTO role, but they switched positions last April after Mercedes made a slow start to the season following a difficult 2022. Red Bull have won the last three drivers' titles with Max Verstappen as well as the 2022 and 2023 constructors' championships. Mercedes said Elliott, who had been with the team for 11 years and through their record eight successive constructors' titles, had chosen to depart after developing a technical strategy for the future. "Mike is a fiercely intelligent technical brain and a great team-player; he has made a strong contribution not just to winning racing cars but also to building the culture of our team.

Persons: Mercedes, Mike Elliott, James Allison, Elliott, Allison, Red Bull, Max Verstappen, Lewis Hamilton, Bull's Sergio Perez, Mike, Toto Wolff, Alan Baldwin, Toby Davis Organizations: Briton, Thomson

☆ Ex-F1 boss Bernie Ecclestone pleads guilty to tax fraud charge
▼ + stars: | 2023-10-12 | by ( ) www.cnbc.com time to read: 1 min

Former Formula One boss Bernie Ecclestone arrives at Southwark Crown Court in London, where he is charged with fraud by false representation over an alleged failure to declare £400 million of overseas assets to the Government. Ex-Formula One boss Bernie Ecclestone pleaded guilty in a London court on Thursday to one count of fraud for making dishonest representation to Britain's tax authority. The 92-year-old appeared at Southwark Crown Court and pleaded to one count of fraud by false representation, just over a month before he was due to stand trial. Prosecutors said Ecclestone made untrue or misleading representations to HM Revenue and Customers at a July 2015 meeting, when he said he "established only a single trust" in favour of his daughters. Ecclestone, accompanied by his wife Fabiana, spoke only to confirm his name and to enter his plea.

Persons: Bernie Ecclestone, Prosecutors, Ecclestone, Fabiana Organizations: Formula, Southwark Crown, Government . Ex, Revenue Locations: Southwark, London

☆ Meet the latest way the superrich prove they're really, totally worried about the environment: $10 million electric superyachts
▼ + stars: | 2023-07-22 | by ( Cork Gaines | ) www.businessinsider.com time to read: +3 min

Nico Rosberg took the Sunreef 80 Eco, a luxury electric yacht, for a spin. Sunreef Yachts recently unveiled their second-generation Sunreef 80 Eco. The Sunreef 80 Eco solar panels are built into the body and mast of the yacht. Sunreef 80 Eco deck. Sunreef 80 Eco YouTube/Nico RosbergYou can watch the entire tour of the supertoy here.

Persons: Nico Rosberg, Rosberg, Elon Organizations: Sunreef Yachts, Sunreef, Eco

☆ NASCAR Le Mans entry can be springboard for Button and Johnson
▼ + stars: | 2023-05-04 | by ( Alan Baldwin | ) www.reuters.com time to read: +2 min

LONDON, May 4 (Reuters) - Former Formula One champion Jenson Button wants to drive a Hypercar at Le Mans next year and says he would be up for a full season of the world endurance championship if the right opportunity comes along. The Briton will be taking part in the 24 Hours race at the Sarthe circuit on June 10-11 this year as part of a special NASCAR entry with seven times NASCAR champion Jimmie Johnson and former Le Mans winner Mike Rockenfeller. Johnson, 47, has never been to Le Mans while Button, 43, endured a short-lived debut in 2018 with the Russian-backed SMP team. The World Endurance Championship (WEC) has seven rounds, including Le Mans, while the North American IMSA series has 11 but is nearer to home. "I’m running out of items, especially in a major professional setting," said the Californian, who was never able to race Le Mans previously due to calendar clashes with NASCAR and IndyCars.

☆ Russian former F1 driver Mazepin fighting UK sanctions to revive career
▼ + stars: | 2023-05-03 | by ( Sam Tobin | ) www.reuters.com time to read: +2 min

Nikita Mazepin, 24, is trying to overturn the British sanctions so he can negotiate with Formula One teams to return to the sport in 2024. Mazepin is also challenging EU and Canadian sanctions as part of his attempt to return to Formula One. Scott said in court filings that Europe's second-highest court temporarily lifted some EU sanctions in March, allowing him to attend a specialist training facility in Italy. However, lawyers representing Britain's Foreign Office argued that Mazepin could still negotiate with Formula One teams with the sanctions in place. Another hearing is expected to take place in June to decide whether sanctions can be temporarily lifted pending Mazepin's full challenge, which will be heard in July.

☆ Masi's door open to Mercedes but Wolff won't be knocking
▼ + stars: | 2023-04-01 | by ( Ian Ransom | ) www.reuters.com time to read: +1 min

The choice is theirs," Masi told News Corp media. "I've always had an open door policy and will always have an open door policy, since the moment that I arrived in this F1 paddock and that continues." Hamilton said on Thursday he had no plans to meet Masi and was only focussed on his future. Mercedes boss Toto Wolff echoed Hamilton, saying he wanted to leave the past behind. "No," he said when asked if he would meet Masi.

☆ Wehrlein takes the Formula E lead with a double in Diriyah
▼ + stars: | 2023-01-28 | by ( ) www.reuters.com time to read: +1 min

Jan 28 (Reuters) - Porsche's Pascal Wehrlein won his second Formula E race in two days in Saudi Arabia to take the lead in the electric world championship on Saturday. The German beat his British rival Jake Dennis, driving for Porsche-powered Avalanche Andretti and making more overtakes than anyone else, by 1.252 seconds in a repeat of Friday's top two at the Diriyah street circuit. "Our race pace is incredible, again today we had the perfect strategy," said Wehrlein, who started fifth on the grid and became only the fifth Formula E driver to win both races in one weekend. "This weekend will be one I will never forget," added the former Formula One driver, who finished second to Dennis in this month's Mexico City opener. Wehrlein now has 68 points to 62 for Dennis, with Envision Racing's Sebastien Buemi a distant third on 31.

Demonstrations erupted on Sunday in support of Bolsonaro after he was narrowly defeated by Lula, who previously governed from 2003 to 2010. Carvalho asked Brazil's federal police to open an official probe on 70-year-old Piquet to "clarify the facts". He said that Piquet, as a public figure, should have been aware that his remarks had the power to reach hundreds of thousands of people. One of Lula's closest allies, Senator Humberto Costa, stated earlier this week he was filing a complaint against Piquet with the public prosecutor's office following his comments. His latest remarks come just days ahead of the Brazilian Grand Prix, which is set to begin in Sao Paulo on Nov. 13.

☆ The flat-pack electric OX Truck is making deliveries on Rwanda's dirt roads
▼ + stars: | 2022-07-20 | by ( Tommy O'Callaghan | ) edition.cnn.com time to read: +6 min

But British-Rwandan delivery startup OX Delivers is looking to change that through its electric OX Trucks, which are designed to negotiate dirt roads while carrying up to two tons of goods – roughly 20 times a cyclist’s capacity. “They were taking bikes from their farm … and they would be gone for a long time – around two days.”The OX Truck boasts large tires and high ground clearance. “Bananas cost 10 times in Kigali (Rwanda’s capital) what they cost in a village,” says OX Delivers managing director Simon Davis. OX Delivers says its truck is an effective solution for areas that lack paved roads. But OX Delivers is aimed squarely at undeserved rural traders looking to get their goods to market.

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