Following its withdrawal from F1, the Cologne-based Toyota team has shed 500 jobs.

Officials at Silverstone have announced that a press conference will take place in London on Monday at which time the fate of the 2010 British Grand Prix will be made public.

Brazilian F1 stars Rubens Barrichello and Felipe Massa are once more the hot favorites for this year's running of the Granja Viana 500 Mile race.

Two rivals bidding to take over Renault F1 team, plus other stories and rumours.

The latest Formula 1 schedule for the 2010 season

Rumours suggest that Prodrive would be interested to purchase the Renault Formula 1 team. According to Formula 1 boss Bernie Ecclestone though the French car manufacturer will most likely continue racing in Formula 1 under the name of 'Renault'.

Rumours suggest that Prodrive would be interested to purchase the Renault Formula 1 team. According to Formula 1 boss Bernie Ecclestone though the French car manufacturer will most likely continue racing in Formula 1 under the name of 'Renault'.

Nico Hulkenberg has revealed that following Felipe Massa's accident at the Hungaroring in July, he was approached by Ferrari with a view to replacing the Brazilian.

Nico Hulkenberg was the only driver in Jerez this week who is currently signed up by a Formula 1 team to race in 2010. The 22-year-old joined the Williams team for two days of testing at Jerez in order to get used to the F1 car again and work on the set-up of the car ahead of the 2010 Formula 1 season.

If Flavio Briatore wins his case it will almost certainly mark a watershed in the history of F1 because of the possibility of a spate of copycat cases against the FIA. Make no mistake; the very fabric of F1 is at stake.

Former Ferrari Formula 1 driver Kimi Raikkonen has signed a deal to drive a C4 World Rally Car on 12 rounds of the 2010 World Rally Championship Citroën confirmed. The announcement brings an end to weeks of specilation concerning the former F1 champion's plans for 2010.

British F3 driver Marcus Ericsson enjoyed a three-day test at Jerez this week with the Brawn GP team. In the South of Spain the Swedish driver, who scored pole position in last month's Macau F3 Grand Prix weekend, has been making good throughout the week.

Citroen has confirmed that 2007 Formula One World Champion, Kimi Raikkonen, is to take part in next year's World Rally Championship with the French manufacturer's Junior World Rally Team.

Former Formula 1 champion Kimi Raikkonen agrees to race for Citroen's junior team in the 2010 World Rally Championship.

Red Bull driver Daniel Ricciardo enjoyed his first outing in a Formula 1 car on Tuesday. The Australian was also invited by Red Bull Racing to join the team on Wednesday and Thursday to get fermiliar with a Formula 1 car. On his final day he even topped the timesheets in what has been his first week in Formula 1.

Mike Conway joined the Brawn GP team this week at Jerez for a three-day test with the championship winning team. The last time Conway got behind the wheel of a Formula 1 car was in 2007 as Honda's official test driver.

The Vodafone McLaren Mercedes team has extended its partnership with long term partner Tag Heuer. The sponsorship is one of the longest sponsorship deals running in the history of Formula 1 as Tag Heuer joined Mclaren back in 1985.