
Mercedes F1 Boss Wolff Says No to Le Mans Until It's ‘Pure Racing'
One controversial set of regulations at the 24 Hours of Le Mans is keeping Mercedes from joining the likes of BMW, Cadillac, Ferrari, Aston Martin and Porsche in fielding its own team in the prestigious endurance race, says Toto Wolff, team principal and chief executive officer of the Mercedes-AMG Petronas Formula One team.
' Ola Källenius and I, we are racing people, and we don't like BOPs,' Wolff said on Bloomberg's Hot Pursuit! podcast, referring to what are known as 'balance of performance' requirements that can force teams to adjust various technical aspects of a car, especially its weight and power, depending on how well it's competing. He says he and Källenius, the CEO of Mercedes-Benz Group AG, believe BOPs unduly influence the outcome of the race.
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28 minutes ago
- Yahoo
Morgan Stanley to Exit U.S. Options Market-Making Business
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Forbes
29 minutes ago
- Forbes
Jeff Bezos' Reportedly Marries Lauren Sanchez Next Week: What We Know About Venice Extravaganza
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Bezos and Sánchez are reportedly getting married on a Venetian island, according to the Journal. The geography of the small city is spread out across over 110 small islands, with the historical center taking up approximately two square miles. However, a spokesperson for Brugnaro told CNN in March the wedding will take place on Bezos' $500 million superyacht known as the Koru. The Koru is a 417-foot sailing yacht, the second-largest of its kind in the world, meaning it would need to be anchored away from Venice's Grand Canal due to its size. Conversely, 'No Space for Bezos,' a local group protesting the event, has said the wedding will take place in the historic Church of the Abbey of Misericordia, according to the BBC. Some locals in Venice, which has dealt with overtourism that has strained the city's infrastructure and services for years, will protest the wedding over concerns its scale will worsen some of the issues created by excessive tourist crowds. 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Associated Press
32 minutes ago
- Associated Press
Olympic leader Bach's $350,000 pay package in 2024 trails far behind soccer's elected leaders
Updated [hour]:[minute] [AMPM] [timezone], [monthFull] [day], [year] GENEVA (AP) — The International Olympic Committee paid its president Thomas Bach $350,000 in income and expenses in 2024, his final full year in office. The sum included a salary-like payment — or 'indemnity' in Olympic language — of 275,000 euros ($317,000), according to its annual report Friday. That is a relatively small figure compared to soccer bodies that, like the IOC, are based in Switzerland and count annual revenue in billions. Bach on Monday will formally hand over to president-elect Kirsty Coventry , who will start an eight-year initial term as the Olympic body's first female leader, and first from Africa. The IOC has classed the 71-year-old Bach as a volunteer on a full-time executive mission who 'should not have to finance activities related to his function from his personal savings.' Bach's earnings were less than 10% of what soccer gives its top elected officials. FIFA paid its president Gianni Infantino $5.2 million in taxable salary and bonus last year, plus other expenses. He is also among the 109 IOC members and can claim $7,000 each year for office costs and $450 daily allowance when on Olympic business. UEFA president Aleksander Čeferin received almost $4.3 million in taxable income last year, including $300,000 from FIFA as one of its vice presidents. It is unclear if the 41-year-old Coventry will be a salaried president of the IOC instead of officially a volunteer. The two-time Olympic champion in swimming left her job as sports minister of Zimbabwe after winning the seven-candidate IOC election in March. The presidential indemnity likely will be reviewed later this year, the IOC said Friday. Bach's annual payment has been decided by the IOC's ethics commission on the stated principle 'the president should not financially benefit from his position.' The German lawyer held a series of business consultancies and board of director seats before being elected in 2013 to lead the IOC. The IOC paid Bach 225,000 euros ($259,000) in 2020. It rose to 275,000 euros ($317,000) in the year of his re-election, 2021, then was frozen for the rest of his second term of four years until reaching the maximum 12 years in office. International sports bodies have typically published details of leadership pay as part of governance reforms, particularly after corruption scandals in soccer. ___ AP Olympics: