Formula One warming up for Singapore IPO

The owners of Formula One motor racing are considering a partial flotation of the business in Asia, an option also explored by English soccer champions Manchester United, to tap demand in the region for strong sporting brands. A flotation of Formula One (F1), which draws more than half a billion TV viewers for its races, has long been mooted, but the issue is made more urgent by the expiry this year of a confidential commercial agreement between the rights holding company and the teams whose cars compete in the 20-race series.

JLR joins hands with Chery for JV in China

Tata Motors-owned Jaguar Land Rover said it has finalised Chery Automobile Company as partner to form an equal joint venture in China that will produce both JLR and the JV-branded vehicles. The new JV entity will also manufacture engines and set up a research and development centre in China. “The agreement follows extensive talks between JLR and Chery on establishing an equal partnership company,” JLR said.

Obama to visit heavily fortified Korean border

Amid new tension with North Korea over a planned rocket launch, President Barack Obama plans to visit the Demilitarised Zone separating North and South Korea at the start of an international trip next week, the White House has said. Sunday’s trip to the most heavily defended border in the world carries obvious Cold War symbolism as Obama tries to foster new nuclear disarmament talks with North Korea.

Olympus ex-CEO?s first book to hit Japan in April

Michael Woodford, the sacked CEO-turned-whistleblower at Japan’s disgraced Olympus, is to publish his memoir of one of Japan’s most high-profile frauds around the time of a key April shareholder vote to approve new managers at the company. The Japanese edition will be followed in October by an English language account Woodford has likened to a John Grisham thriller. The 300-page blockbuster is likely to keep up pressure on the company that fired Woodford after he revealed a $1.7 billion accounting fraud last October.

HP to merge printer, computer divisions

Hewlett-Packard will merge its personal computer and printing divisions in an effort to cut costs, improve its designs and become more efficient, New York Times reported. The consolidation is the first major strategic move by Meg Whitman since she became chief executive last September. Until now, she had focused on understanding H.P.?s businesses, which are as various as home computers, corporate call centers and computing systems, and on communicating her ideas to employees. Last month, however, she warned of radical changes, possibly including significant layoffs. Besides cost savings, HP wants PCs and printers designed and sold so they work better together, according to the person briefed on the merger

UK budget deficit doubles; taxes fall, spending jumps

Britain?s budget deficit almost doubled in February as taxes fell and spending surged, leaving chancellor of the exchequer George Osborne little room to meet his full-year goal as he prepares to announce the annual budget. Net borrowing excluding support for banks was 15.2 billion pounds ($24.1 billion), the highest for any February on record, compared with 8.9 billion pounds a year earlier, the Office for National Statistics said in London today. The median of 17 forecasts in a Bloomberg News survey was for a shortfall of 8 billion pounds.