Lotus CEO Matthew Carter claims the Formula 1 team has "financially turned a corner" just over a year on from being forced to implement crisis cost cuts.For 2013 the team made a staggering loss of $97 million, casting severe doubt on its future in the sport. Upon Carter's arrival in...

Related StoriesFormula 1's smaller outfits are pushing to be allowed to share more car parts in the future in a bid to help lower costs.Despite complaints last year from Force India, Sauber and Lotus that spiraling budgets threatened their survival, F1's chiefs have done very little to help the situation....

Sauber team principal Monisha Kaltenborn says Formula 1 cost cuts agreed this week have not gone far enough.F1 teams this week ratified a number of changes, including reduced testing and a cut back in windtunnel running, aimed at reducing expenditure. But with smaller outfits having pushed the FIA to bring...

The FIA has warned Formula 1 teams that it is ready to get tough on much-needed cost cuts.With F1's budgets set for an increase next year because of new regulations, and several outfits facing financial struggles, there have been concerns that the sport is heading for trouble unless spending is...