Key supplier Marelli is in talks with lenders on debt reorganization, report says

The supplier, previously owned by Fiat Chrysler Automobiles, carried at least $9.5 billion in total debt as of September, sources told Bloomberg. Marelli is the world's 18th largest auto supplier.

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The can of worms opened by Hamilton and Leclerc’s F1 US GP disqualifications

Having fallen just 2.2 seconds behind Austin race winner Max Verstappen, Mercedes racer Hamilton plus sixth-placed Leclerc were then thrown out for running with excessively worn floor planks.They had contravened the FIA Technical Regulations which states that the plank assembly measured at designated holes can only wear by 1mm down to 9mm across a weekend.With their rear skids deemed illegal, the ... Keep reading from Autosport.com - All - Stories https://ift.tt/OwNJ94p via IFTTT

President’s Budget Proposes Selling Half of National Petroleum Reserve

- Following up on sales set in motion by the Department of Energy at the end of the Obama administration, President Trump has proposed in his budget to begin selling oil from the U.S. Strategic Petroleum Reserve next year. After a decade of domestic production increases brought about by the shale-drilling boom, the country’s reliance on imported oil has fallen, decreasing the need to maintain the 688-million-barrel, 141-day supply at its current level, the administration said. - The Strategic Petroleum Reserve (SPR)—the largest emergency petroleum supply in the world—is stored in four underground cavern complexes on the Gulf coasts of Louisiana and Texas. It was created in 1975 in response to the oil embargo by member nations in the Organization of Petroleum Exporting Countries (OPEC) in 1973–1974. In the years since, it has been used a handful of times to stabilize oil prices during emergencies—notably in 1991 during Operation Desert Storm and in 2005 after Hurricane Katrina. T

Verstappen completes F1 practice clean sweep at Bahrain GP

Track temperatures at the start of the final one-hour practice session of the weekend were nearly hitting 50-degrees, which meant the teams opted to spend the first 10 minutes in the pits – with only Yuki Tsunoda completing an installation lap when the track went live. Valtteri Bottas ended the tedium after 10 minutes, eventually going straight out on the soft tyres for his first run ... Keep reading from Autosport.com - All - Stories https://ift.tt/3cs9TD1 via IFTTT

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