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F1 boss denies 'corrupt bargain'

MOTORSPORT TYCOON Bernie Ecclestone has appeared at a High Court trial to defend himself against allegations that he made a "corrupt bargain" in a bid to stay at the top of Formula 1 racing. Mr Ecclestone has been accused of entering into a "corrupt agreement" with a banker to facilitate the sale of the Formula 1 group to a buyer "chosen" by him, A German media company says it lost out as a result of the deal and has taken legal action against Mr Ecclestone - chief executive of the Formula 1 group. Mr Ecclestone says Constantin Medien's claim "lacks any merit" and denies any "conspiracy".

Peugeot Citroen to buy Mitsubishi

It's being reported that PSA (Peugeot Citroen) are to take control of Mitsubishi Car makers have been fighting hard to survive in the last year or so as the landscape for their products goes through the biggest sea change ever. Fiat boss Sergio Marchionne was quoted as saying that if car makers didn’t rationalise and merge then they would go under. He sees a car making landscape with a handful of huge car makers and a plethora of very small ones – nothing in between.

BMW X1 US launch delayed – because the new X3 is so good

BMW X1 - not in the US until late 2012 It would have been inconceivable just a few years ago that there could ever be a market in the US for a car like the BMW X1. But times have changed and even Americans see the benefits of a (much) smaller SUV, so BMW was originally planning on launching the X1 in the US around now. That X1 launch got put back until later in 2011 because the Leipzig plant – which builds the X1 – was running at capacity to meet the demands from Europe.