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☆ Ferrari’s green journey takes surprise turn: podcast
▼ + stars: | 2023-03-30 | by ( Lisa Jucca | ) www.reuters.com time to read: 1 min

MILAN, March 30 (Reuters Breakingviews) - Europe’s plan to support carbon-neutral fuels is good news for the $50 bln luxury carmaker, CEO Benedetto Vigna says on the Exchange podcast. It will allow the group to flog the roaring engines that made its fortune. Listen to the podcastFollow @LJucca on TwitterSubscribe to Breakingviews’ podcasts, Viewsroom and The Exchange. Editing by Oliver TaslicOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Maserati listing would need more engine power
▼ + stars: | 2023-03-21 | by ( ) www.reuters.com time to read: +2 min

MILAN, March 21 (Reuters Breakingviews) - Maserati says it wants to be more profitable before considering a spinoff from 52 billion euro parent Stellantis (STLAM.MI). But assume Maserati were to treble sales to 75,000 units by 2025, a target the company touted in 2020, taking revenue to perhaps 6.7 billion euros, and hit the 20% margin target in that year. It could then already fetch a whopping 15 billion euros if valued at an 11 times 2025 EBIT multiple, in line with Porsche. That would make a spinoff meaningful for Stellantis, giving Grasso reason to step on the gas. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ 2024 Ferrari Purosangue: A Touring Wagon That Howls
▼ + stars: | 2023-03-10 | by ( Dan Neil | ) www.wsj.com time to read: +1 min

GOOD SPORT The Purosangue’s front-mid-mounted V12 typically sends torque only to the eight-speed, dual-clutch rear transaxle, ensuring a super-sporty, rear-drive character. The AWD comes by way of a power takeoff and two-speed gearbox that transfers torque to the front predictively when the dynamic controls sense slip at the rear. IN ITS WISDOM, Ferrari staged the global press launch for the new Purosangue AWD wagon in February, in the Dolomites, near Madonna di Campiglio in northern Italy. Unfortunately, the region’s mild winter meant that scenic, snow-covered mountain trails were in short supply. While I waited my turn, visions of tree-slapping the six-figure, 12-cylinder Purosangue raced through my mind.

☆ F1: One of Michael Schumacher's Ferraris has sold for almost $15 million at auction
▼ + stars: | 2022-11-10 | by ( George Ramsay | ) edition.cnn.com time to read: +1 min

CNN —The Ferrari in which Michael Schumacher won his sixth Formula One world title has smashed auction records to become the most expensive F1 car in history. The F2003-GA sold for $14.9 million in a Sotheby’s auction in Geneva, Switzerland on Wednesday, almost doubling the previous record for an F1 car when Schumacher’s F2001 fetched $7.5 million in 2017. According to Sotheby’s, Schumacher recorded five race wins, two podiums and three pole positions in the F2003-GA. In that season, the German finished just two points ahead of Kimi Räikkönen in the championship standings to claim the sixth of his seven world titles. By claiming his sixth world title, Schumacher passed Juan Manuel Fangio’s record tally and then went on to win his seventh title the following year – a number Lewis Hamilton matched in 2020.

CNN —Red Bull driver Max Verstappen finished in first place at the Mexican Grand Prix to claim his record-setting 14th win of the season on Sunday. Earlier in October, Verstappen claimed his second career world championship at the Japanese Grand Prix, and last week he won the US Grand Prix in Austin, Texas, which saw him share the record for number of season race wins. Red Bull pitted their drivers first, opting for medium tires while Hamilton fitted hard tires so that he would not have to pit again. RBR were found to have breached the cost cap by £432,652 ($501,409). That comes in from now, it has a direct effect on next year’s car and it will be in place for a 12-month period.”Two races remain on the F1 calendar for Verstappen to add to his record tally with the Brazilian Grand Prix scheduled on November 13 and the Abu Dhabi Grand Prix on November 20.

☆ Max Verstappen equals single-season win record at US Grand Prix on emotional weekend for Red Bull
▼ + stars: | 2022-10-24 | by ( Ben Church | ) edition.cnn.com time to read: +3 min

CNN —Max Verstappen fought back after pit-stop drama to win the US Grand Prix on Sunday, handing Red Bull the constructors’ championship on an emotional weekend for the team. The Dutchman’s victory came just one day after it was announced that owner and co-founder of Red Bull, Dietrich Mateschitz, had died aged 78. The stop lasted over 11 seconds with Red Bull mechanics scrambling for a replacement wheel gun after Verstappen’s front left tire was not tightened sufficiently. Verstappen poses with the Red Bull team to celebrate winning the constructors' championship. “A very emotional moment, a big moment for the team and for everyone at Red Bull,” he told reporters.

☆ Max Verstappen crowned world champion in chaotic circumstances at Japanese Grand Prix
▼ + stars: | 2022-10-09 | by ( Issy Ronald | ) edition.cnn.com time to read: +5 min

CNN —Max Verstappen was crowned Formula One world champion in bizarre circumstances following a dominant victory at the Japanese Grand Prix on Sunday. So when Verstappen finished, he initially only celebrated a race victory – his 12th of the season – and completed his first post-race interview accordingly. I am hearing different things,” Verstappen said, after he was initially crowned world champion during a second post-race interview. It was confirmed again, and he sat down in front of a ‘World Champion’ banner in a throne room. “Am I the world champion?” Verstappen asked Jensen Button before his interview on the podium.

☆ Porsche IPO has two investor roadblocks to clear
▼ + stars: | 2022-09-16 | by ( Neil Unmack | ) www.reuters.com time to read: +5 min

The 2020 Porsche 911 Carrera 4S is introduced during a Porsche press conference at the Los Angeles Auto Show in Los Angeles, California, U.S., November 28, 2018. Porsche’s valuation rests on how closely it can mimic peer Ferrari (RACE.MI), and what discount should be applied to its complex governance. VW’s influence in Porsche will be diluted by Porsche SE’s stake. Volkswagen will divide Porsche’s shares into voting ordinary and preferred shares, which carry no voting rights. Porsche’s valuation is likely to be between 70 billion euros and 80 billion euros, Reuters reported, citing a source close to the matter.

☆ India’s edtech startup flunks the growth class
▼ + stars: | 2022-09-16 | by ( ) www.reuters.com time to read: +2 min

Children recite the preamble to the Constitution of India during an assembly at a school in Mumbai, India, January 27, 2020. REUTERS/Francis MascarenhasMUMBAI, Sept 16 (Reuters Breakingviews) - India’s most valuable startup is not growing much at all. It reveals the company’s top line shrunk 3% to $304 million while losses ballooned around 14 times to roughly $570 million. But the endless controversy around the Indian company is also ammunition for those calling for more regulation of the red hot-industry. (By Una Galani)Register now for FREE unlimited access to Reuters.com RegisterFollow @Breakingviews on Twitter(The author is a Reuters Breakingviews columnist.

☆ ECB offers flimsy shield against Spain’s bank levy
▼ + stars: | 2022-09-15 | by ( ) www.reuters.com time to read: +2 min

Its mandate as regulator is to ensure the European banking system is stable, rather than dabble in local matters. That means lenders would have to successfully argue that their capital buffers are under threat by a mere 3 billion euro levy that will be spread out across the sector. Up until now, lenders like Santander have been at pains to convince investors that they have ample capital to withstand a downturn. (By Aimee Donnellan)Follow @Breakingviews on TwitterRegister now for FREE unlimited access to Reuters.com Register(The author is a Reuters Breakingviews columnist. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ U.S. railways steer clear of crisis
▼ + stars: | 2022-09-15 | by ( ) www.reuters.com time to read: +2 min

TORONTO, Sept 15 (Reuters Breakingviews) - The narrowly averted shutdown of U.S. rail services should avoid widespread economic damage, at least for now. A rail shutdown could potentially be six or seven times as costly as the February shuttering of the Ambassador Bridge route connecting Windsor, Ontario and Detroit. Biden has plenty of competing priorities on his plate, including battling inflation and looming midterm Congressional elections read more . (By Sharon Lam)Register now for FREE unlimited access to Reuters.com RegisterFollow @Breakingviews on Twitter(The author is a Reuters Breakingviews columnist. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Ferrari’s SUV clears road to bold sales target
▼ + stars: | 2022-09-14 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Guglielmo Mangiapane/File PhotoMILAN, Sept 14 (Reuters Breakingviews) - Ferrari’s (RACE.MI) long-awaited Purosangue SUV will propel the Italian sports carmaker towards its bold revenue target read more . Rival Lamborghini’s Urus SUV is already on sale. That implies car sales of perhaps 5.4 billion euros, after excluding sponsorship and other revenue. That’s 1.2 billion euros of revenue. He could make 5.5 billion euros in car revenue before even hiking price tags.

☆ New SoftBank fund risks deepening governance mess
▼ + stars: | 2022-09-14 | by ( ) www.reuters.com time to read: +2 min

LONDON, Sept 14 (Reuters Breakingviews) - Who said SoftBank Group’s (9984.T) corporate governance couldn’t get any messier? The $62 billion conglomerate controlled by founder Masayoshi Son is considering opening a third version of its Vision Fund technology investment vehicle, per the Wall Street Journal. SoftBank shareholders, for their part, might prefer the company wring as much value as possible from Vision Fund 2 instead. The only good news for investors in the Japanese parent is that Vision Fund 3 would be investing, broadly speaking, at lower valuations than previous efforts, given the recent market slump. Divvying up the spoils between staff and shareholders looks messy, but it’s better than having no spoils at all.

☆ Ferrari Purosangue: The company releases its first four-door car; just don't call it an SUV
▼ + stars: | 2022-09-13 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —Ferrari has unveiled the first four-door production vehicle the legendary Italian automaker has ever produced. But, with the company’s sporting and racing history, Ferrari insists it isn’t anything so gauche as a “Sport Utility Vehicle.”The Ferrari Purosangue has "suicide" doors in the rear. FerrariThe Ferrari Purosangue, which mans “pure blood” in Italian, looks like a crossover SUV but Ferrari isn’t calling it that. The Ferrari Purosangue gets four full-sized seats, a first for the brand in a production car. The front passenger also gets a screen in the Ferrari Purosangue.

☆ The Chevrolet Corvette is officially going electric
▼ + stars: | 2022-04-25 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —General Motors will produce a fully electric Chevrolet Corvette, GM President Mark Reuss announced in a LinkedIn post Monday morning. Reuss didn’t say when the electric Corvette would come, but he hinted that a hybrid model could come relatively soon. An accompanying video the company posted to Twitter showed what appeared to be a hybrid Corvette, and in another first, showed the front wheels spinning and throwing snow as if being powered. A 670 horsepower Corvette Z06 with a 5.5-liter V8 was unveiled last fall. Reuss has previously implied a hybrid Corvette was possible.

☆ (foto) Un unic Shelby 427 Cobra FAM, din garajul lui Paul Walker, este pregătit pentru licitație
▼ + stars: | 2021-01-05 | by ( Onixmedia Srl | ) diez.md time to read: +1 min

(foto) Un unic Shelby 427 Cobra FAM, din garajul lui Paul Walker, este pregătit pentru licitațieUn unic Shelby 427 Cobra FAM din garajul actorului Paul Walker va fi scos la vânzare în cadrul unei licitații organizate de casa Mecum în luna martie din acest an. Roadster-ul, proiectat personal de Carroll Shelby, este dedicat victoriei Shelby asupra Ferrari în 1965. Celebrul pilot a comandat crearea a două copii ale Cobra FAM la sfârșitul anilor ’90 ai secolului trecut. Casa de licitații susține că doar un singur Shelby Cobra se poate lăuda cu o astfel de combinație exterior-interior. Costul estimat al rarității nu se anunță, însă nu este prima dată când acest Shelby Cobra unic este revândut.

Persons: Shelby, Paul Walker, Carroll Shelby, Rosso Organizations: Ferrari Locations: Le Mans

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