Formula One Group
Formula One supremo Bernie Ecclestone and organiser of the Indian grand prix Jaypee Group have confirmed that the race will not take place in the 2014 season.
Formula One paid just £1 million in corporation tax in the UK in 2011 despite profits in excess of £300 million, due to a series of complex tax arrangements, according to The Independent.
Formula One owner CVC Capital Partners will monitor CEO Bernie Ecclestone's bribery indictment by German prosecutors.
A contract, believed to be 15 years long, has been signed for the grand prix in New Jersey to be added to the Formula One calendar from next season.
CVC Capital Partners, part owner of Formula One motor racing, is reportedly planning a $2 billion takeover bid of media rights agency, IMG Worldwide, according to Sky News.
Formula One team Mercedes will provide fellow constructors Williams with engines from next season under a long-term partnership announced today.
Paddy Lowe is set to move from Formula One team McLaren to join Mercedes as executive technical director.
German manufacturer BMW has rubbished comments by Formula One commercial supremo Bernie Ecclestone on its return to the sport.
Formula One supremo Bernie Ecclestone has received backing from the board to remain the head of the motor sport unless he is convicted for bribery allegations by German authorities.