The Financial Times reports that a 31-year-old has been arrested in London as the Swiss group UBS, a ‘global partner’ of grand prix racing, saw its shares plunge almost 11 per cent.
On the alleged investment fraud, a spokesperson for Swiss banking regulator Finma said: “From the scale of this case, you can be sure that it’s the biggest we’ve ever seen for a Swiss bank.”
Reports suggest the scandal could single-handedly wipe out UBS’s forecasted profits for the quarter.
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Police detonate suspected bomb in F1 paddock(0)Monaco’s party atmosphere late on Thursday was broken by the sound of an explosion. Bomb police cordoned off an area of the formula one paddock near the media centre after someone noticed a suspicious plastic package. Experts detonated it with a controlled explosion just before 10pm, the Press Associated reported. It also emerges that some |
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Schumacher must convince Mercedes to ‘want him’(0)If Michael Schumacher wants to keep racing beyond 2012, he will need to convince Mercedes. That is the claim of former German F1 driver Christian Danner, referring to rumours the seven time world champion’s future beyond this year is uncertain. Schumacher, 43, has said he is yet to sit down for talks with Mercedes, who |
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Button says Lotus car to beat in Monaco(0)McLaren’s Jenson Button has named Lotus as the team to beat in Monaco. After Romain Grosjean was second fastest in both practice sessions on Thursday, Button’s teammate Lewis Hamilton concurred that the “Lotus looks pretty good”. “Normally, there are seven tenths between the two tyre compounds,” said the 2008 world champion. “Jenson was only four |
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Nurburgring hopes for new ten-year F1 deal(0)The Nurburgring is hoping to conclude a new ten-year contract to keep hosting formula one every two years. An official of the German circuit, Kai Richter, is quoted as saying the new ten-year deal on the table will mean at least “five more races” are held at the Nurburgring. Track operator Jorg Lindner confirmed to |
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Mansell in a sling after cycling smash(0)Nigel Mansell is F1′s one-handed FIA race steward this weekend at Monaco. The 1992 world champion walked into the Monte Carlo paddock with his arm in a sling. What happened? “Broken collarbone,” the former Ferrari, Williams and McLaren driver told Swiss newspaper Blick on Thursday. “I fell off my bike.” Mansell, 58, is an avid |
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