Porsche to Apply for 1.75Bn Euro Loan
4 Jun 2009, 07:54 UTC · By: Bogdan Popa / Although the company's officials repeatedly said Porsche is not going to apply for government loans, it might seem the German manufacturer will indeed ask for 1.75 billion euros from the German...
Henderson Calms Ford Down: Feds Will Stay Away of New GM
2 Jun 2009, 10:19 UTC · By: Bogdan Popa / Even if the United States government will own the majority stake in the future General Motors, this doesn't necessarilly mean the feds will get involved into the business, GM's President a...
Prost: Politics to Threaten French GP Future
18 May 2009, 10:03 UTC · By: Ovidiu Panzariu / Alain Prost revealed that plans to host a Formula One race in France in 2011 are being affected by the political battle within the French government. As Magny-Cours lost all chances of becoming an F...
Germany and the Story of the 14 Conditions for State Loans
5 May 2009, 14:04 UTC · By: Bogdan Popa / Opel has longly been in the spotlight, mostly due to its financial instability which led to a bunch of rumors claiming GM Europe, the mother company, is aiming to get rid of the German unit. It appe...
UK Government Begin Talks to Save British GP
29 Apr 2009, 12:09 UTC · By: Ovidiu Panzariu / The UK government has reportedly initiated talks with Formula One boss Bernie Ecclestone for the saving of the British Grand Prix. The news came via the British newspaper The Guardian, which reporte...
UK Government Will Not Provide Financial Backing for British GP
24 Apr 2009, 15:16 UTC · By: Ovidiu Panzariu / The British fans' dream of having a Formula 1 race in their native country are soon to hit the brick wall, as the UK government have announced they are not willing to provide financial backing ...
Sepang Accuses Malaysian Government of Poor Promotion
1 Apr 2009, 10:05 UTC · By: Ovidiu Panzariu / In a time when most governments are trying to secure an F1 entry for their countries – with Canada being the very best example – Malaysia doesn't seem to fit into that equation. Acc...
Six to Eight "Very Large" Companies Interested in Buying Saab
17 Mar 2009, 16:17 UTC · By: Bogdan Popa / GM's Swedish unit Saab is again making the headlines after Sweden's Industry Minister Maud Olofsson said that six to eight "very large" companies have expressed their intention t...
UK's Funding Package Receives EU's Green Light
12 Mar 2009, 08:57 UTC · By: Bogdan Popa / The European Commission finally approved UK's 2.3 billion pounds ($3.18 billion) funding package for the domestic ailing automaker and the state is now waiting for applications to distribute th...
Chrysler Warns It May Close Canadian Plants Unless It Gets Financial Support
12 Mar 2009, 08:19 UTC · By: Bogdan Popa / American automaker Chrysler today threatened that it may close its Canadian production facilities unless the government approves the requested funds and helps the company cope with the recession. Ch...
Australian Government Deny Alternative Track
27 Feb 2009, 08:44 UTC · By: Ovidiu Panzariu / The Australian officials have played down rumors that they are considering a change in location for hosting the Aussie GP in the years to come. Although admitting the feasibility study revealed by t...
Australia Looks to Alternative F1 Track
26 Feb 2009, 09:40 UTC · By: Ovidiu Panzariu / Trucking company Linfox have already finalized a feasible study on the alternative of building a new circuit in near Melbourne aimed to host Formula 1 races. According to a news report from Australi...
US Appoints Firms as Auto Restructuring Advisers
6 Feb 2009, 13:14 UTC · By: Bogdan Popa / The United States government has just made another step towards the restructuring process of the Detroit (it's actually Detroit 2 now since Ford is not anymore involved): it hired two law firms...
Britain Offers 2.3 Billion Pounds to Struggling Automakers
28 Jan 2009, 08:56 UTC · By: Bogdan Popa / The United Kingdom government today announced it will provide up to 2.3 billion pounds ($3.25 billion) to domestic struggling automakers in order to prevent job cuts and reorganize their production ...
Jaguar Land Rover Doesn't Ask For Government Bailout
23 Jan 2009, 10:52 UTC · By: Madalina Iancu / “We do want to get out of the misery but we categorically refuse to beg” seems to be Jaguar Land Rover's motto during the current economic crisis. Reuters has recently reported t...
GM Says It Could Run Out of Cash by March 31
22 Jan 2009, 09:04 UTC · By: Bogdan Popa / General Motors is making the headlines once again, as it recently said it may run out of cash as soon as March 31 in case it doesn't receive the second loan payment from the US government. The ...
Chrysler Receives $1.5 Billion from the US Department of Treasury
19 Jan 2009, 15:05 UTC · By: Bogdan Popa / US-based automaker Chrysler announced on January 16 that it has received access for up to $1.5 billion in loans from the US Department of Treasury's Troubled Asset Relief Program, also known as...
UK Government to Investigate Honda F1 Buyout
16 Jan 2009, 10:55 UTC · By: Ovidiu Panzariu / Following recent reports in the British media that Honda's F1 team CEO Nick Fry may be interested in buying the Brackley-based team from the Japanese manufacturer, it seems that the British gov...