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E.U. executive conditionally approves Daimler, BMW car-sharing deal

BRUSSELS — The European Union's competition authority said on Wednesday it had approved the plan of German luxury carmakers Daimler and BMW to combine their car-sharing businesses, subject to conditions. Under the deal, which includes car-sharing units Car2Go and DriveNow as well as ride-hailing, parking and charging services, Daimler and BMW will each hold 50 percent stakes in a joint venture. They have offered concessions to address E.U. antitrust concerns over the deal they hope would let them better compete with U.S. rival Uber and China's Didi Chuxing. The European Commission has found the deal would raise competition concerns for free-floating car sharing services in Berlin, Cologne, Duesseldorf, Hamburg, Munich and Vienna. It said Daimler and BMW agreed to a remedy package in the six cities. "The commitments thus fully address the Commission's concerns as they will reduce the barriers to entry for competing free-floating car sharing providers," the Commission said in a statement. "Therefore the Commission concluded that the proposed transaction, as modified by the commitments, would no longer raise competition concerns. The Commission's decision is conditional upon full compliance with the commitments." Reporting by Gabriela Baczynska and Philip Blenkinsop. Related Video:

Mercedes sues Ferrari-bound F1 engineer for stealing secrets

Mercedes is suing one of its Formula One engineers, one Benjamin Hoyle, claiming he was planning to take sensitive data to a competitor. An experienced powertrain engineer, Hoyle came to Mercedes AMG High Performance Powertrains in 2012 with previous experience at Prodrive and Cosworth. One of four team leaders at the company, Hoyle headed up the performance application department until he notified his employers of his intention not to seek renewal of his contract that expires at the end of this year. Once they found out that Hoyle was switching to Ferrari, the higher-ups at Mercedes reassigned him to other, less sensitive duties, however Hoyle was reportedly discovered accessing race reports and other sensitive data relating to the performance of the team's engines. In response, Mercedes has filed suit against Hoyle, claiming that he "and potentially Ferrari have gained an unlawful advantage." The German automaker is seeking the return of all documents and the payment of its legal fees. It also seeks to prevent Hoyle from working for another F1 team throughout next season. Mercedes AMG High Performance Powertrains is the Daimler's F1 engine division. Based in Brixworth, UK, it was founded back in 1983 together with Ilmor before Mercedes bought it outright. Aside from the company's own works team, the outfit this year powered Williams, Lotus, and Force India, and previously worked with McLaren as well as Sauber. This is not the first time that a case of industrial espionage has emerged in F1. A similar controversy erupted in 2007 surrounding engineers Nigel Stepney and Mike Coughlan. The highly publicized incident became known as "Spygate" or "Stepneygate" and involved the illegal sharing of secrets between Ferrari, McLaren, and Renault. News Source: BloombergImage Credit: Martin Meissner/AP Government/Legal Hirings/Firings/Layoffs Motorsports Ferrari Mercedes-Benz F1 industrial espionage

Formula One approves aerodynamic rule changes to promote more passing

LONDON — Formula One has approved aerodynamic rule changes for 2019 aimed at promoting closer racing by making it easier for cars to overtake, the sport's governing body said on Tuesday. The measures include a simplified front wing with a larger span, front brake ducts without winglets and a wider and deeper rear wing. The International Automobile Federation (FIA) said its Formula One commission, Strategy Group and World Motor Sport Council had approved the changes. The changes should reduce turbulence for cars that are following each other, and come after criticism of the lack of overtaking in some races. The FIA said the vote, on the last day before unanimous agreement is required for any 2019 regulation changes, followed research carried out by a majority of the teams and backed by commercial rights holders Liberty Media. "These studies indicated the strong likelihood of a positive impact on racing and overtaking within F1 and as such have now been ratified for implementation in 2019," the statement added. "The approved changes are separate to the ongoing work being undertaken in regard to defining Formula One's regulations for 2021 and beyond." Motorsport.com suggested several teams, including Ferrari and Red Bull, had been opposed to the proposals but were outvoted. Formula One's current agreements with teams expire at the end of 2020 and all parties are discussing what kind of engine and rules should be introduced after that. Liberty want to level the playing field, reduce the costs and introduce a more equal distribution of the revenues. Only three of the 10 teams — Mercedes, Ferrari and Red Bull — have won races in the V6 turbo hybrid era that started in 2014, and Mercedes has so far won every championship. The FIA said it was continuing to evaluate a range of other measures to encourage closer racing. Reporting by Alan BaldwinRelated Video: Image Credit: Reuters Motorsports Ferrari Mercedes-Benz Technology Racing Vehicles F1 fia liberty media