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Archive for the ‘Business news’ Category

Renault didn’t pay much for the Lotus F1 team, but now the investment really has to begin if its to regain its F1 World Championship-winning ways, says Charles Bradley.

So how much does a Formula 1 racing team cost to buy? The answer we got this week is: one English sterling pound, i.e. roughly $1.50.  That is exactly how much  …  More

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After three seasons together that produced five World Cup wins and an overall title, Aaron Gwin and Specialized are parting ways. The reason? A differing of opinion when it came to how much Aaron believes he’s worth.

Whispers of the separation, of which both parties say is happening on good terms, had been making the rounds over the last few months. Even so, it’s still somewhat surprising that the quickest downhiller in the sport, who also happens to be an American, is parting ways with one of the largest American cycling brands   …  More

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STEPHEN Hill, 52, and his brothers Peter, 50, and Matt, 45, never set out to make a business out of skating.

“We only knew one thing, which was skating. So our motivation for making money out of skating was to skate, not to make money,” Peter said.

They were basically “unemployable”, determined to buck the system and be forever young  …  More

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SurfStitch, the online surf clothing store, is taking over the world. Or, our world at least. The surf world.

The company, which came into existence in a Northern Beaches backyard seven years ago, was worth $214 million last December, when the founders Justin Cameron and Lex Pederson finally bought out of their parent company (Billabong held a 51 per cent stake).

Today, SurfStitch is worth   …  More

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