List of All Articles with Tag '1'

Ex-Formula One boss Bernie Ecclestone has admitted fraud after failing to declare more than £400million held in a trust in Singapore to the Government. The 92-year-old said “I plead guilty” at Southwark Crown Court on Thursday while standing in the well of the court wearing a dark suit and grey tie. On July 7, 2015, the billionaire failed to declare a trust in Singapore with a bank account containing around 650 million US dollars, worth about £400million at the time. The charge stated Ecclestone, who has three grown-up daughters, Deborah, Tamara and Petra, and a young son, Ace, had “established only a single trust, that being one in favour of your daughters, and other than the trust established for your daughters you were not the settlor nor beneficiary of any trust in or outside the UK”. Before his guilty plea, he had been due to face trial in November on the single fraud charge. The court heard Ecclestone had said “no” when asked by HMRC officers whether he had any links to any further trusts “in or outside the UK”. Prosecutor Richard Wright KC said: “That answer was untrue or misleading. “Mr Ecclestone knew his answer may have been untrue or misleading. “As of July 7, 2015, Mr Ecclestone did not know the truth of the position, so was not able to give an answer to the question. “Mr Ecclestone was not entirely clear on how ownership of the accounts in question were structured. “He therefore did not know whether it was liable for tax, interest or penalties in relation to amounts passing through the accounts. “Mr Ecclestone recognises it was wrong to answer the questions he did because it ran the risk that HMRC would not continue to investigate his affairs. “He now accepts that some tax is due in relation to these matters.” Read More FIA to review Qatar GP as ‘dangerous’ temperatures prompt driver complaints Lewis Hamilton and George Russell vent anger on radio after collision in Qatar Lewis Hamilton crashes out after first-corner collision with George Russell In his own words: Christian Horner on world champion Max Verstappen Angry Lance Stroll shoves personal trainer and storms out of interview Max Verstappen fastest in Qatar practice as he closes in on world championship

By Rozanna Latiff KUALA LUMPUR The Malaysian government on Thursday denied allegations by Goldman Sachs that it had

FIA president Mohammed Ben Sulayem insists Formula 1 needs less races ahead of a record-breaking 2024 season – but more teams in wake of Andretti’s bid to become the 11th team on the grid. US-based Andretti, owned by Michael Andretti – the son of 1978 F1 world champion Mario, were the only prospective new team approved by the FIA to be a new outfit in F1 with the matter now in the hands of FOM (Formula One Management). Ben Sulayem, who took over as FIA chief at the start of last year and has caused controversy for his comments in relation to commercial rights holder F1 in the past, believes the sport should be looking to expand and says his “dream” is for 12 teams, the maximum amount currently allowed. “Saying no to a team which has been approved by the FIA [i.e. Andretti] – it’s very hard,” Ben Sulayem told Reuters. “The FIA should be asking, begging, OEMs (original equipment manufacturers) to come in. We should not just say no to them. “If you say: ‘What is my dream?’ It is to fill up the 12 [team slots] and to have one US team from an OEM and a [power unit] and a driver from there. And then go to China maybe and ask for the same thing and do it.” The current viewpoint within F1 towards a new team is believed to be lukewarm at best, due to financial concerns, though a thorough analysis will be undertaken. F1 will hold a record-breaking 24 races next season – up from 22 this year – with China and Imola returning after their cancellations in 2022. One issue mooted with more teams in the paddock has been space at traditional, older tracks like Zandvoort, but Ben Sulayem pointed towards the accommodation of Brad Pitt’s fictional Apex team for the F1-based Hollywood movie on the grid at times this season. “We are allowed to have 12 teams,” he added. “Some of the teams said ‘Oh, it will be crowded’. Really? We are already running a Hollywood team with us. “The circuits are supposed to have enough garages and space for 12 teams. I think the number of races is too much [rather] than the number of teams. We need more teams and fewer races. “The teams are looking at the piece of cake. I understand their worries but our worries are different.” Read More Aston Martin boss urges F1 to stick to 10 teams Andretti F1 team entry bid accepted by FIA What Lewis Hamilton’s clash with George Russell tells us about state of play at Mercedes F1 reveal unique Las Vegas GP schedule and ‘opening ceremony’ plans Lance Stroll ‘may have contravened FIA rules’ during furious outburst in Qatar F1 driver Esteban Ocon vomited in his helmet during ‘horrible’ Qatar Grand Prix

Alaskan officials recently canceled the Bering Sea snow crab season for the second year in a row —

James Dyson’s technology firm shifted another 10-figure dividend to his family holding company last year as the vacuum

European Central Bank Governing Council member Mario Centeno said he’s confident that current monetary-policy settings will bring inflation

US citizens are also among the hundreds of people taken hostage by the Palestinian militant group.

UK economic growth remained weak in August, as a modest rebound from a strike-afflicted July failed to ease

Kia Corp. unveiled a compact electric sport-utility vehicle and two concept EVs as it builds out a range

Codelco, the world’s biggest copper producer, is nearing a deal to acquire Lithium Power International Ltd. that could

Philippine power retailer Manila Electric Co. said its unit, MGen Renewable Energy, will invest 15.9 billion pesos ($280

It comes after the first meeting of Israel's emergency government, formed on Wednesday.