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Silverstone To Celebrate Hosting 50 F1 Races In Style

THE famous Silverstone Circuit is gearing up to celebrate its 50th Grand Prix race this weekend, and it’s a milestone that will be celebrated not once, but twice during July. First, the golden anniversary will be marked by a parade of F1 cars over this coming British Grand Prix weekend. Then, three weeks later, the birthday party revs up when the Northamptonshire venue stages the annual Silverstone Classic (25-27 July).

Feds look at Toyota electronics as source of accelerator defects

The U.S. Department of Transportation is looking into whether Toyota Motor Corp.'s problems with unintended acceleration can be traced to defects in the electrical controls rather than just the mechanical problems cited by the automaker, a Transportation official said Tuesday. “We're not finished with Toyota and are continuing to review possible defects and monitor the implementation of the recalls,” Transportation Secretary Ray LaHood said in a statement.

Ferrari posts record sales despite economic uncertainty

Global economic waters are far from calm, but Ferrari has managed to steer clear of the turmoil. The Italian automaker has released sales figures for the first six months of 2012, and they’re impressive by any measure. Revenues for the first half of the year are up nearly 12 percent, and net profits have risen 10 percent to over $130 million.