economic downturn

Richard Childress has denied allegations that his team has filed a lawsuit against General Motors after the ailing manufacturer announced it was to cut support for teams in the Sprint Cup.

In the face of mounting pressure, Sir Jackie Stewart has admitted that he is 'happy to help' the Royal Bank of Scotland - an organisation that, on the day it announced a corporate record ?24 billion loss and one which is now 70 per cent taxpayer-owned, has been heavily criticised for its overblow

It may have announced earlier this week that it is to end all of its Formula 1 sponsorship deals at the close of the forthcoming 2009 campaign, but ING already seems to have had a change of heart - in part at least.

Nick Fry has responded to accusations that he is presiding over a conflict of interest in having submitted his own bid to take over Honda's defunct Formula 1 outfit - as he suggested that 'attempts are being made by certain parties to frustrate this process'.