PHILADELPHIA--(BUSINESS WIRE)--Aug 3, 2023--

The Consumer Financial Protection Bureau is considering a new rule that would slash credit card late fees by 75%, from current highs of up to $41 to as low as $8

Chanel increased prices of its high-end products in China in September, amid a slowdown in demand for luxury

There’s no place like home. For most of the Formula 1 grid, a return to familiar comforts at a much-loved circuit is something to behold, thrive and revel in. In fact, it’s only the Haas pairing of Nico Hulkenberg and Kevin Magnussen and the Alfa Romeo team of Valtteri Bottas and Zhou Guanyu who have not basked in such an experience in 2023. But all eyes for Zhou – Formula 1’s first Chinese driver in its 73-year history – now point firmly towards 21 April 2024. The sport’s return to one of the world’s powerhouses has, four times, been put on hold due to the pandemic – both the world-altering event itself and the country’s controversial zero-covid policy in the aftermath. Yet next year will see the Shanghai International Circuit host once more; all that was left was for Zhou’s presence to be confirmed. That came on Thursday morning. Ahead of the Singapore Grand Prix, the 24-year-old penned a one-year extension with Alfa Romeo to race with the Sauber-works team for a third-straight year. F1’s worldwide popularity boom has not diverted past China – and next spring we will see the full impact of Zhou’s spot on the grid. “It’s the dream fulfilled – the first Chinese driver in F1, it’s a huge thing for a massive country like us,” Zhou tells The Independent. “So many more Chinese fans are engaged in F1 compared to the past, obviously me getting into the sport means more people follow the races. “The pressure started two to three years ago, so it’s no longer a surprise. I’ve been through that period. I’m fine with the pressure. Now, it’s all about having a good example to set and inspire younger generations.” That pressure, both from the fanbase and within the paddock itself, is inescapable. Just ask Nyck de Vries: a Formula 2 and Formula E champion, he was ruthlessly axed from his AlphaTauri seat in July after just 10 races. For all the riches of the globe-trotting spectacle, F1 remains undeniably cut-throat. Yet you won’t see Zhou having too much sympathy. “There’s a lot of pressure in Formula 1,” he states. “Only winners stay in this sport. If you can’t perform, if you’re outperformed by others, you’re going to lose the seat. That’s the reality. It’s the way everyone lives. The pressure is there, you don’t have a lot of time and you’ve really got to get on with it. “If you can’t do that, then you won’t stay here for long.” Zhou’s performances behind the wheel of a struggling Alfa car this year – languishing ninth in the Constructors’ Standings no less – have clearly impressed enough for a third bite at the cherry. Four points from 14 races would, typically, be a topic of major concern. Yet with experienced team-mate Bottas only two points up the standings, it is difficult to place too much blame on the drivers in the cockpit. With Audi’s takeover looming large for 2026, work is hurriedly being done in the background. “The results have been difficult to take,” he says. “We didn’t expect Aston Martin and McLaren to be so fast this year. It basically means we are fighting for two positions every week. My total points don’t show how much I’ve improved as a driver. I made some mistakes last year, but this year it’s more about the car.” Zhou’s assuredness stems from a childhood of contrasts: his formative years spent in the hustle and bustle of Shanghai, followed by time as a teenager in the Steel City. Learning a new language and new culture, he went by the name of Steven at Westbourne School in Sheffield. “The culture and language are obviously completely different,” he says. “The education system too…” He pauses. He reflects on memories which quickened his acclimatisation process. “While in Sheffield, I really enjoyed playing pool. Not snooker, that’s more difficult! But also I was very surprised at how many Chinese people were going to university in Sheffield and at how many shops and restaurants there are. It’s quite far from London but you don’t feel like you’re too far out! Everyone was very laid back.” His ascension to F1 came as something of a surprise. Three seasons spent with the Alpine Academy in F2 – with a 2021 finish of third his best showing – saw Alfa come calling. He scored a point on his F1 debut in Bahrain last March. His start was impressive. But then came Silverstone. “It definitely set me back,” Zhou says now, recalling the time his Alfa spun upside-down towards a barrier at the start of the British Grand Prix. Miraculous images with a miraculous outcome: Zhou barely had a graze on him. “It happens. I recovered quite quickly mentally. It was just a shame because I had some very good momentum, I’d twice been in Q3, but I had to have a recharge afterwards. It wasn’t too bad.” Zhou is not one to reminisce too much. Everything is possible for the Chinese driver with a slice of Sheffield inside him. Audi’s arrival in less than three years is “still so far away.” However, he does admit: “Hopefully I can stay when Audi come.” But that’s in the distant future. For now, it’s on to this weekend and the twists and turns of Marina Bay. Read More Alfa Romeo confirm driver line-up for 2024 F1 season Max Verstappen breaks new ground with record victory at Italian Grand Prix Max Verstappen tells Toto Wolff to focus on Mercedes after snipe Hamilton labels Marko’s comments about Perez ‘completely unacceptable’ Sebastian Vettel refuses to rule out return to Formula 1

It's been 37 years since Huey Lewis and the News said it was hip to

Formula One bosses were facing up to one of the most embarrassing days in the sport’s recent history after practice for the much-anticipated Las Vegas Grand Prix was completed at 4am in an empty arena. After months of hype leading up to the £500million race, the first running was abandoned with just eight minutes on the clock. Second practice was then delayed by two and a half hours, and played out in front of vacant grandstands after furious fans were ejected to comply with local laws. Ferrari’s Charles Leclerc topped the order, with Max Verstappen sixth and Lewis Hamilton ninth, but the event - billed by F1 chiefs as the greatest show on earth - dramatically unravelled more than seven hours previously. A water valve cover broke free from the newly laid tarmac and tore into the underbelly of Carlos Sainz’s Ferrari at 210mph on the Las Vegas Boulevard. The force of the impact visibly jolted Sainz in the cockpit and, amid a flurry of white smoke and orange sparks, disabled his machine. Race director Niels Wittich red-flagged the session, but not before Esteban Ocon also struck the debris. On-board footage from Fernando Alonso’s Aston Martin captured the 42-year-old dramatically dodging the loose drain cover. Eleven minutes later, at 8:49pm, it was announced practice would not be resumed. Both Sainz and Ocon escaped without injury - but their cars were severely damaged. A giant hole tore through Sainz’s Ferrari leaving his mechanics facing an extensive repair job. Team principal Frederic Vasseur, who appeared in a pre-arranged press conference moments later, was furious. “We completely damaged the monocoque, engine and battery,” he said. “It is just unacceptable.” Second practice had originally been scheduled to start at midnight. But it was postponed as all 30 drain covers along the 1.2-mile Las Vegas Boulevard - which runs against the backdrop of Caesars Palace, Bellagio and Venetian hotels - were inspected. The covers were removed and holes filled with concrete and quick-drying resin in a hasty repair job. The track was finally deemed fit-for-purpose at 2:30am local time. However, when the running resumed the stands were empty after strict labour laws posed a security risk. Some disgruntled fans, who refused to leave, were moved on by police. A general admission ticket for the three-day event costs 500 US dollars (£400), while a hospitality suite was sold at an eye-watering 150,000 US dollars (£120,000) for the three days. The disastrous failure in Las Vegas comes 48 hours after a Superbowl-like opening ceremony, and a day on from triple world champion Verstappen heavily criticising the staging of the Grand Prix - the first here in four decades - as “99 per cent show, and one per cent sport”. F1 executives are keen to build on the sport’s growing popularity in the United States. The race in Nevada joins Austin and Miami as the third in America. Yet the mess here drew parallels with the 2005 United States Grand Prix at Indianapolis where only six drivers took part amid tyre safety fears. Leclerc finished half-a-second clear of team-mate Sainz. Verstappen, a winner of 17 of the 20 rounds so far, was nine tenths adrift with Hamilton 1.3 sec back in his Mercedes. Third practice is due to begin at 8.30pm on Friday (4.30am GMT on Saturday) with qualifying for Saturday’s 50-lap race taking place at midnight (8.00am GMT on Sunday). PA Read More Carlos Sainz handed ‘ridiculous’ penalty after drain cover crash at Las Vegas GP Empty grandstands at Las Vegas GP as chaotic practice session takes place at 3am Toto Wolff launches furious defence of F1 after absurd start to Las Vegas GP Empty grandstands at Las Vegas GP as chaotic practice session takes place at 3am Toto Wolff launches furious defence of F1 after absurd start to Las Vegas GP Ferrari boss rages at F1 after ‘unacceptable’ loose drain cover wrecks Sainz’s car

PITTSBURGH & CHICAGO--(BUSINESS WIRE)--Jun 22, 2023--

The European Union should be ready to defend its own interests with respect to China in areas beyond

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Formula 1 failed to apologise or issue refunds to fans after they witnessed just eight minutes of cars on track before being told to leave on a farcical opening day in Las Vegas. As opposed to a refund, all single-day ticket holders have instead been offered a $200 voucher for the Las Vegas Grand Prix official shop. Those with full weekend, three-day tickets won’t be reimbursed in any way for Thursday night’s lost action. A lengthy statement released on Friday from F1 CEO Stefano Domenicali and Las Vegas Grand Prix CEO Renee Wilm was also notable for the lack of an apology to spectators as well. A section of the statement read: “We have all been to events, like concerts, games and even other Formula 1 races, that have been cancelled because of factors like weather or technical issues. “It happens, and we hope people will understand.” Fans in the grandstands were told to leave at 1:30am local time on Friday morning, one hour before the second practice session took place. The statement also detailed that fans were told to leave due to “concern about our public safety and security officials, transportation employees and hospitality staff.” The drama began on Thursday night when Carlos Sainz ran over a loose drain cover on the strip, forcing the first practice session to be cancelled for safety reasons. Second practice, scheduled to start at midnight, was continuously delayed before it started at 2:30am. By that point, cars were going around the new 3.8-mile track without any fans present to see it. The statement also read: “The precautionary step of removing all of the water valve covers on the entire track and filling them with sand and asphalt was undertaken. “The entire process, from determination of the issue to remediation, took approximately five hours. The decision to remediate in this way was taken out of an abundance of caution and because the safety of drivers, trackside marshals and officials and our fans is always our highest priority. “We thank the contractors who worked expeditiously to resolve the situation so quickly.” Read More What time is qualifying at the Las Vegas Grand Prix on Saturday? Former F1 champion gets married in Las Vegas Grand Prix paddock F1 enters new Las Vegas dawn with disaster on opening night Watch: Sparks fly as Sainz’s Ferrari hits drain cover on Las Vegas F1 circuit Empty grandstands at Las Vegas GP as chaotic practice session takes place at 3am Carlos Sainz handed ‘ridiculous’ penalty after drain cover crash at Las Vegas GP

No matter which salon you visit, a haircut typically follows the same structure. First, a quick consultation to decide on the style. Then a speedy wash, cut, and blowdry, in that order. That’s not the case at Michael Van Clarke’s London salon. Here, the staff cut everyone’s hair while it’s completely dry.

Pernod Ricard has stopped all spirits exports to Russia again and indicated it will cease activities there in