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Race recap: 2016 Belgian Grand Prix is a dozen angry laps

The calm of the Formula One summer break ended with the tumult of the Belgian Grand Prix. The first two days included unusual tire pressures and grid penalties; Mercedes-AMG Petronas' Lewis Hamilton started 21st because of a 55-place grid penalty for engine and gearbox changes, McLaren's Fernando Alonso started 22nd due to a 60-place penalty for the same offenses. The bedlam rolled right into what was effectively an 11-or 12-lap race. Mercedes driver Nico Rosberg took off from pole and the cameras barely bothered with him until he took the checkered flag 44 laps later. Red Bull's Max Verstappen bogged from second on the grid, got swallowed by Ferrari's Sebastian Vettel and Kimi Raikkonen on the way to Turn 1, then attempted to recover by sticking his Red Bull's nose between Raikkonen's sidepod and the apex at the first corner. Vettel, who didn't see Verstappen, turned into La Source leaving only enough room for Raikkonen. Three cars don't fit in a space for two cars. Vettel spun, Raikkonen and Verstappen clobbered one another and all three drivers had to pit for repairs. Force India's Nico Hulkenberg zig-zagged his way into second ahead of Red Bull's Daniel Ricciardo, Williams' Valtteri Bottas, and Sergio Perez in the second Force India. On Lap 6 Kevin Magnussen lost his Renault at Raidillon at the top of Eau Rouge and flew backward into an enormous crash. Magnussen escaped with just a cut ankle. The Safety Car paraded the field for four laps before officials red flagged the race to repair the barriers. When racing resumed on Lap 10, Rosberg led Ricciardo, Hulkenberg, Alonso, and Hamilton. Ricciardo stayed ahead of Hamilton to keep second place at the end of the race, Hamilton easily got around Alonso and Hulkenberg to lock up third. Hulkenberg – who'd given up second to Ricciardo by pitting during the Safety Car period – earned another career-best fourth position ahead of teammate Perez in fifth, followed by Vettel and Alonso on recovery drives, Bottas, Raikkonen, and Felipe Massa taking 10th in the second Williams. Rosberg reignited his Driver's Championship charge with the victory, closing to nine points of leader Hamilton. We could argue that Hamilton had an equally good day by driving from 21st to third, limiting his loss to only 10 points. About that Verstappen, though... We've seen far more experienced drivers attempt the same move Verstappen made into Turn 1 – Raikkonen on Bottas in Russia in 2015, for instance.

Fiat Chrysler begins Magneti Marelli spinoff

MILAN — Fiat Chrysler has kicked off its planned spinoff of parts maker Magneti Marelli, which will be registered in the Netherlands and listed on the Milan stock exchange, a document outlining initial plans and seen by Reuters showed. The spinoff is part of a plan by FCA Chief Executive Sergio Marchionne to "purify" the Italian-American carmaker's portfolio and to unlock value at Magneti Marelli similar to his earlier spinoff of Ferrari. Analysts say Magneti Marelli could be worth between 3.6 billion and 5 billion euros ($4.2 billion to $5.8 billion). It sits within FCA's components unit alongside robotics specialist Comau and castings firm Teksid. FCA has created a separate entity called MM Srl, the document showed, into which it will fold Magneti Marelli's electronics and electro-mechanical operations related to racing motorbikes and racing cars, as well as 14 other holdings in various companies around the world, including Germany, Slovakia, Mexico and South Africa. MM will be incorporated into a Dutch holding company via a cross-border merger, it added. FCA declined to comment. The move follows a similar procedure adopted by FCA for the spinoff and listing of Ferrari as well as of trucks and tractor maker CNH Industrial, both registered in the Netherlands and listed in Milan. The Dutch holding company would allow Marchionne, known for his success in extracting shareholder value through this strategy, to introduce a loyalty share scheme to reward long-term investors through multiple voting rights, as was the case with CNH and Ferrari. That would tighten the grip of FCA's controlling shareholder Exor, the Agnelli family's investment holding company, on the parts maker. Magneti Marelli, which employs around 43,000 people and operates in 19 countries, is a diversified components supplier specialized in lighting, powertrain and electronics. The Magneti Marelli separation is expected to be completed by the end of this year or early 2019, FCA has said. FCA's advisers initially looked at a possible initial public offering for the business to raise cash to cut FCA's debt, but the Agnelli family — FCA's main shareholder — was put off by low industry valuations and did not want its stake in Magneti Marelli to be diluted, three sources close to the matter told Reuters in March. Magneti Marelli has often been touted as a takeover target, and FCA has fielded interest from various rivals and private equity firms over the years.

Ferrari, BMW lend expertise to Olympic bobsled, skeleton, luge

LONDON — There are plenty of reasons why the sport of bobsleigh is sometimes referred to as Formula One on ice, but few as obvious as Italy's World Cup sleds. Resplendent in Ferrari red, and with a set of team sponsor Pirelli's P-Zero tyres painted on the sides, they are even liveried to look like racing cars. Ferrari, Formula One's most glamorous and successful team, have worked with the Italian federation, whose sleds run without sponsor branding at the Olympics, since 2010 and in the run-up to next month's Pyeongchang Winter Games. Former rival BMW, title sponsor of the World Cup, has long partnered the U.S. bobsleigh team, while McLaren teamed up with Britain's bob and skeleton athletes for the 2014 Sochi Games in Russia. "There's always the link between the Formula One companies, or any motor company, and skeleton and bobsleigh," says Rachel Blackburn, the engineer who has been involved in Britain's skeleton program since 2006 and who used to work for McLaren. "There's the Ferrari sleds and the BMW sleds ... when we were at McLaren it kind of made a good story," she told Reuters by telephone from her home in Dubai. That somewhat manufactured rivalry has died down in the years since Sochi, with McLaren no longer involved and Ferrari's presence low key. But the worlds of grand prix motor racing and sliding sports still have plenty in common. Bobsled, luge and skeleton are among the fastest of Olympic sports, with bobsleds reaching speeds over 90 mph. Drivers are subjected to gut-wrenching G-forces, and crashes can be fatal. And then there is the ongoing debate about cost controls, the direction of future rules, preserving a level playing field and obsessive secrecy — all endlessly recurring themes in Formula One. 80 mph on a tea tray Blackburn said skeleton, where riders hit 80 mph on what has glibly been compared to an oversized tea-tray, sits somewhere between Americas Cup yachts and Formula One cars in terms of speed and aerodynamics. "Applied engineering is far more interesting than the pure stuff, so when its applied to something that's fun and exciting it does make it a lot easier to solve problems," she said. "There is the Americas Cup, sailing, Formula One and the high speed ice sports as well. It's the same concept.