LONDON: All Formula One teams were in compliance with cost cap restrictions last year, the sport's governing body said on Tuesday (Sep 5). Media reports in Italy and Germany, dismissed at the time by the International Automobile Federation (FIA), had suggested in July that at least two of the 10 teams coul
LONDON: All Formula One teams were in compliance with cost cap restrictions last year, the sport's governing body said on Tuesday .
Current champions Red Bull were fined US$7 million and their wind tunnel time reduced by 10 per cent for a 'minor overspend' in 2021, the first year of the restrictions. Aston Martin were also fined US$450,000 for a procedural breach. "Additionally, there has been an extensive check of any non-F1 activities undertaken by the teams, which comprised multiple on-site visits to team facilities and careful auditing procedures to assess compliance with the Financial Regulations."
Red Bull's punishment last year was criticised by some rivals as not tough enough, with Ferrari boss Fred Vasseur last month describing it as"a big joke" and calling for sporting penalties.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pope Francis and Mongolia's Catholics under one roof at papal MassULAANBAATAR: In an unprecedented event, Pope Francis and just about the entire Catholic population of a country were in the same room when he presided at a Mass in Mongolia's capital on Sunday (Sep 3). The Mass in Ulaanbaatar's Steppe Arena was the religious highlight of the pope's trip to visit the Cathol
Read more »
Thousands stuck in mud at Burning Man festival, one deadBLACK ROCK CITY: Tens of thousands of festival-goers were stranded on Sunday (Sep 3) in deep mud in the Nevada desert after rain turned the annual Burning Man gathering into a quagmire, with police investigating one death. Video footage showed costume-wearing 'burners' struggling across the wet grey-b
Read more »
Workers want a four-day work week only on one conditionSupport for a four-day work week must be coupled with remote work, say most workers. Seventy-five per cent of workers say they would only be interested in a shorter work week if remote work is allowed all or nearly all of the time. Only 51 per cent of workers agree to a shorter work week …
Read more »
Thousands stuck in mud at Burning Man festival in Nevada, one deadBLACK ROCK CITY: Tens of thousands of festivalgoers were stranded on Sunday (Sep 3) in deep mud in the Nevada desert after rain turned the annual Burning Man gathering into a quagmire, with po
Read more »
Wolff says Verstappen's win record is irrelevant to himMONZA, Italy : Max Verstappen made Formula One history at Monza on Sunday with a record 10th win in a row, and 12th of the season, but Mercedes team boss Toto Wolff sounded unimpressed by the Red Bull driver's achievement.The one-two Italian Grand Prix victory was also Red Bull's 15th in succession, and 1
Read more »
Weak link in anti-money laundering efforts is compliance, not family offices: ExpertsThere were about 1,100 single-family offices in Singapore at the end of 2022, compared with 700 in 2021. Read more at straitstimes.com.
Read more »