Before China's dairy industry imploded in a swirl of tainted products, milk was a cash cow. Investors flocked to buy stock from leading dairies Mengniu, Yili and Bright as a way to tap into the growing purchasing power of Chinese consumers and the country's rising dairy exports, which totaled $232 million last year. In rural China, poor farmers scrimped to buy cattle to boost their incomes, becoming part of the food chain serving the Chinese middle class's ...

Yas Marina, Abu Dhabi's new state-of-the-art Formula One track, has many new features never seen on the F1 circuit.

Formula One cars are a marvel of modern engineering, so much so, that many manufactuers who compete in the sport do so in order to benefit from the technical innovations race-honed research and development creates.

Jean Todt has succeeded Max Mosley as president of the Federation Internationale de l'Automobile (FIA) after he was elected to the most powerful position in motorsport on Friday. Todt, 63, won the FIA general assembly vote against ex-world rally champion Ari Vatanen by 135 votes to 49 in a secret ballot, with 12 abstentions/invalid votes, at the FIA headquarters in Paris. Frenchman Todt had received the backing of Mosley, who held the position for 16 years, ahead of Vatanen from ...

Felipe Massa has been cleared to return to the wheel of a Ferrari following medical tests in Paris which confirmed his continuing successful recovery from a serious skull injury. The Brazilian will return to the Italian team's Maranello base on Sunday, and then test drive a private F2007 single-seater the next day "under the personal assistance of the F1 Clienti department," according to the Ferrari Web site. "The medical team, coordinated by Professor Jean-Charles Piette, the FIA's medical delegate, finished ...

Two-time world champion Fernando Alonso has signed for Ferrari on a three-year deal, the Formula One giants announced on Wednesday. Alonso will replace 2007 world champion Kim Raikkonen in Ferrari's line-up for next season. Raikkonen is reported to be headed for McLaren to replace fellow Finn Heikki Kovalainen, with BMW Sauber's Robert Kubica moving to Renault to fill the gap left by the long-anticipated departure of Alonso. "We are very proud to welcome to our team another winning driver, who ...

Renault was yesterday hit by the fallout of its Formula One team's "Crashgate" scandal after two of its sponsors announced they were terminating their contracts with immediate effect. ING, the Dutch bank and Renault Formula One's title sponsor, said it was "deeply disappointed" at the sequence of events that resulted in the team's two-year suspended ban for ordering one of its drivers to crash deliberately in last year's Singapore grand prix. The bank had announced in February that ...

The inner workings of a Formula One team are normally shrouded in mystery, with constructors keen to keep technical innovations -- which provide the edge on raceday -- secret from their competitors.

FIA presidential candidate Ari Vatanen believes that Nelson Piquet Jr should have been punished for his role in Formula One's "Crashgate" affair. Vatanen told CNN: "I do not understand why Nelson Piquet Jr wasn't punished. For me his immunity was not correct." The former world rally champion, who is hoping to succeed FIA president Max Mosely was scathing of Piquet Jr's behavior throughout. "He only went public after he was sacked," Vatanen said. "He should have said no in the ...

Renault are awaiting punishment in the race-fixing saga as the World Motor Sport Council held an extraordinary meeting in Paris on Monday to consider the latest scandal to hit Formula One. The 26-strong council met for 90 minutes to discuss allegations by former Renault driver Nelson Piquet Jr. that he was ordered to crash deliberately during the 2008 Singapore Grand Prix. Renault initially denied the allegations, but last week team chief Flavio Briatore and chief engineer Pat Symonds sensationally ...