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F1 Budget Cap row over

MAx Mosley announces the budget cap row is over between the FIA and FOTA - and he's resigning. After a meeting today in Paris, the FIA has announced that it has reached agreement with FOTA to scrap the budget cap it was insisting on implementing from 2010. Quelle surprise!

Jaguar XK leaves the lineup

Production of the Jaguar XK stretched from 1996 with the XK8 and will wrap up as the final 50 limited edition XK models roll off the assembly line this summer. The farewell XKs will be branded as "Final Fifty Limited Edition" cars, and will carry the same specification as the current XKR model, along with some added features that celebrate the history of Jaguar and the evolution of the brand's grand touring coupes and convertibles. Under the hood, a supercharged 510-hp 5.0-liter V8 is capable of bringing the XK to 60 mph in 4.6 seconds according to Jag, and an active exhaust system helps ensure the engine note remains prominent.

Mercedes-Benz CL gets a facelift for 2011

Three years after its introduction, Mercedes-Benz has given the CL a mid-cycle facelift, providing the big two-door with lightly altered bumpers--those up front with new LED daytime running lamps, reshaped headlamps, a more contoured hood, larger exterior mirrors with integrated indicators and revised tail-lamp lenses, among other detailed visual changes. More significant than the styling tweaks, however, are the changes underneath the hood, with the arrival of a new twin-turbocharged 4.6-liter V8 direct-injection gasoline engine--the first of Mercedes-Benz's advanced MoVe powerplants that aim to bring efficiency gains to its lineup. With 429 hp and 516 lb-ft of torque, the new engine delivers 47 hp and 125 lb-ft more than the naturally aspirated 5.5-liter V8 it replaces in the four-year-old CL500--enough to lower the luxury coupe's 0-to-62-mph time by 0.5 second to 4.9 seconds.