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Pininfarina family to lose control of company

The Pininfarina family is set to lose its controlling share stake in the company as it takes a step closer to restructuring its €76 million net debt. The Italian design firm, founded in 1930, has been plagued with debt in recent years, shutting its manufacturing branch in 2011 to concentrate purely on design, ending a joint venture with Volvo that saw the company assemble Volvo's C70. The move is seen as a positive one for the company in the long-term, making it more financially secure for future developments, but it also means that the Pininfarina family will lose control of the company by selling its 77 percent share.

London F1 Grand Prix plans completely serious, says Ecclestone

F1 boss Bernie Ecclestone says the recent publicity stunt by Santander for a London F1 Grand Prix are in fact a serious proposal. We recently saw plans for an F1 Grand Prix in London surface as something of a publicity stunt for Santander, with an impressive video (below) featuring McLaren’s Lewis Hamilton and Jenson button. The start of the London F1 Grand Prix is envisaged at Buckingham Palace and takes in the Mall, The Embankment, Trafalgar Square, Piccadilly Circus and a host of London’s iconic landmarks in a Grand Prix at night expected to attract hundreds of thousands of visitors.

NASCAR: Kurt Busch claims Nationwide win at Watkins Glen

From start to finish, Saturday afternoon's NASCAR Nationwide Series Zippo 201 at Watkins Glen International was all Busch, all the time. Older brother Kurt won the pole and younger brother Kyle started second and led the most laps. But Kurt won when Kyle gave up the lead with a late-race, green-flag stop for fuel.