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F1 photos raise £20,000

A SERIES of photographs taken by Formula One drivers and team members has raised more than £20,000 at a charity auction. The sale included an image taken by Michael Schumacher of a boat on a lake that fetched £2500. An identical amount was paid by Formula One boss Bernie Ecclestone for one of his own pictures.

Saab says asset sale to BAIC gives it cash for a fresh start

Saab believes that a deal to sell some key assets to Beijing Automotive Industry Holdings Co. will help secure the money-losing automaker's future. "The money will finance the new Saab and contribute to a good start under new ownership," Saab spokeswoman Gunilla Gustavs said without revealing financial details of the deal.

Mercedes sacks U.S. boss Ernst Lieb

Mercedes boss Ernst Lieb let go In a surprising move, Mercedes has upset its apple cart in America by sacking its CEO, Ernst Lieb. It’s hard to work out why Leib has been given the heave-ho, especially considering Mercedes USA is riding high at the moment on the back of strong sales and well-received models in the U.S. Under Lieb’s leadership Mercedes has enjoyed sales up 10.4 per cent for this year, a performance that is outstripping the market as a whole.