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Caterham sells F1 team

Caterham The Caterham Formula 1 team has been sold to a consortium of Swiss and Middle-Eastern investors following a poor season so far in 2014. Rumours that Caterham would cut its losses have been rife, since team founder Tony Fernandes threatened to quit if things didn't improve this year. The team is currently bottom in the championship and Fernandes hinted of an exit last week, when he tweeted “F1 hasn't worked, but love Caterham Cars.” Graham Macdonald, Caterham Group CEO: “Firstly I want to thank everyone who was involved in the F1 team for all their hard work and dedication since the team’s first days in 2009.

Classic Ferrari becomes most expensive car ever sold in UK

This 1957 Ferrari 250 TR – or Testarossa – has just become the most expensive car ever sold in the UK outside of an auction. The exact figure paid is undisclosed, but is said to be in excess of the previous record-holder, a Ferrari 250 GTO that sold for £22.5 million in 2012. Yes folks, if you’ve got the cash, classic Ferraris are where it’s at in the investment world right now.

U.S. auto sales climb 14 percent in January

UPDATED: U.S. auto sales, led Toyota Motor Corp. and the Detroit 3, rose 14 percent in January, giving the industry a bigger lift to begin 2013 than analysts expected.