Britain's The Independent reports that Mercedes increased its Formula 1 budget by 17 percent last year to a record £324.6 million [$517m].The report cites company documents for Mercedes' F1 engine manufacturing division as showing that in 2013 it spent £133.9m [$213m] to develop its new 1.6-liter turbo engines. That is...

Related StoriesFormula 1 should embrace its new sound rather than artificially change to appease disgruntled fans, according to Force India deputy team principal Bob Fernley.F1 has faced criticism for the quieter sound produced by the new 1.6-liter turbo engines this season, compared to the normally aspirated V8s used until the...

Outgoing Mercedes boss Ross Brawn believes the squad is well placed to make a strong start with Formula 1's new regulations in 2014.Mercedes finished second in the 2013 constructors' championship, its best performance since returning as a constructor, and Brawn thinks Mercedes is making good progress for next season."If I...