Hot stocks: 5 sizzling performers in May

NEW YORK (CNNMoney)

While there were many winners this month (sorry Whole Foods (WFM, Fortune 500) -- you definitely didn't make the cut), check out the rankings of the five hottest companies in the S&P 500 in May.

1. Netflix: Binge watching is the new black

Netflix (NFLX) was hammered by the risk aversion on Wall Street in recent months. The streaming movie rental service saw its shares slump 26% in March and April.

But investors quickly realized that lovers of "Breaking Bad" and "House of Cards" aren't abandoning Netflix any time soon. Shares spiked 30% in May, making it easily the best performer in both the S&P 500 and Nasdaq 100.

Netflix also announced a price increase for new members and plans to expand services to six more European countries: France, Germany, Austria, Switzerland, Belgium and Luxembourg.

Related: CNNMoney's Tech 30 Index

2. Electronic Arts: The World Cup effect?

The second hottest S&P 500 stock this month can trace its sparkling performance to a single day: May 6.

That was the day Electronic Arts (EA) blew Wall Street's socks off with earnings that crushed expectations. Buoyed by sales of games for PlayStation 4 and Xbox One, the video game maker also sounded a very positive tone for the rest of the year and unleashed a $750 million stock buyback.

The company, known as EA, also highlighted how strong its sports titles are, especially the blockbuster FIFA game ahead of this summer's World Cup. EA is one of the few non-apparel companies to serve as a major sponsor of top soccer stars.

Other video game makers have also enjoyed success this year, including France's Ubisoft (UBSFF), Activision Blizzard (ATVI) and Take-Two Interactive (TTWO).

After EA's 23% surge in May, the company has spiked 52% so far this year, good for No. 3 in the S&P 500 in 2014.

Related: Three tech stocks worth buying

3. Green Mountain juiced by Coke (again)

It's been a wild ride this year for investors of the company formerly known as Green Mountain Coffee Roasters.

Keurig Green Mountain (GMCR) spiked 36% in February after Coca-Cola (KO, Fortune 500) acquired a 10% stake in the company for $1.25 billion. But the coffee maker slumped 11% in April and continued to face skepticism from short sellers like hedge fund giant David Einhorn.

Coke came to the rescue once again, announcing plans on May 13 to boost its stake to 16%, adding more than $1 billion more. Green Mountain also impressed Wall Street wtih a 22% jump in profits.

The final result for Green Mountain is a heavily caffeinated 21% return for the month.

4. TripAdvisor charts an upward course

The online travel site finished April a hefty 26% below its all-time high, which was just the month before. But TripAdviso (TRIP)didn't stay home and pout.

The company unveiled a flurry of acquisitions during the month, including European restaurant service Lafourchette, travel guide site Tripbod and Vacation Home Rentals.

TripAdvisor also pleased investors by posting bullish results on May 6 that revealed a 22% jump in revenue and a 44% boost to traffic.

The stock is up 20% in May.

5. SanDisk by a nose

SanDisk (SNDK, Fortune 500), which makes flash memory, benefited from an overall rebound in tech stocks this month.

The company ended May with a 13.7% rally, narrowly besting Tiffany (TIF) for the No. 5 spot amongst S&P 500 stocks.

SanDisk pleased investors by hiking its quarterly dividend by 33% on May 7 after posting a 62% jump in earnings in April.

Related: The wealthy are spending again, baby. Luxury stocks are back

Honorable mention: Tiffany soared 13.6% during May and was easily the month's best performing retailer in the S&P 500. The company has sparkle, but not quite enough for the top 5.

Correction: An earlier version of this article incorrectly reported that investor Carl Icahn increased his stake in Netflix during the month.

First Published: May 30, 2014: 3:05 PM ET

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How Ballmer's $2 billion Clippers deal could pay off

NEW YORK (CNNMoney)

But it's not quite as crazy as it seems, even if it's a purchase driven in no small part by the glamor of being a team owner.

That's because Ballmer's timing to spend that kind of money for the team couldn't be better.

The team is poised to see a huge jump in television dollars in just a few years. And those sports rights deals are likely to further lift team valuations in coming years, as advertisers scramble to find programing that viewers won't watch days after it originally airs.

Related: Steve Ballmer will ruin the 'Clippies'

"Every buy, in any business, to a certain extent is a vanity buy," said Sal Galatioto, an investment banker who handles the sale of sports teams, but was not involved in this one. He thinks the deal will be work out well for Ballmer.

"The asset appreciation in the sports world has been excellent," Galtioto said. "Media content value is continuing to go up. And it's something he'll have fun with."

Ballmer, worth an estimated $20 billion, doesn't have to worry about covering debt service on his purchase. And he has a chance of making a better return than the $55 million in dividend payments that he would be getting on $2 billion worth of Microsoft (MSFT, Fortune 500) stock.

Related: Ballmer now Microsoft's largest shareholder

The team's current local television rights deal that runs through the 2015-16 season pays about $20 million a year. It was negotiated in the midst of a recession in 2009, when the team was still a joke on the court and playing before empty seats many nights.

But the Clippers' on-court performance has improved, led by superstars Blake Griffin and Chris Paul. The team has sold out every game since early 2011 and its ratings are significantly higher.

Related: Ballmer buys Clippers for $2 billion

Perhaps more importantly, Los Angeles now has several competing regional sports networks, owned by Fox (FOX), Time Warner Cable (TWC, Fortune 500) and the Los Angeles Dodgers. And because all of them are scrambling to lock up games to broadcast, experts estimate the next deal's rights could jump to $75 million to $80 million a year.

"The timing is terrific for a new owner to come in," said Lee Berke, CEO of LHB Sports Entertainment and Media, a consulting firm. "You're entering into a seller's market. and you have a chance to profit on that momentum."

The NBA's national TV deal, which pays each team about $30 million a year, also ends after the 2015-16 season, and the annual payout could double as well, said Berke.

But even if the team's annual profit quadruples to $60 million because of all the new TV money, it'll take more than three decades for Ballmer to make back the purchase price. So the real payout will come whenever he, or his heirs, decide to sell the team at some point that's likely well in the future.

"My guess is that he would be able to make a higher rate of return if he invested it elsewhere," said a Patrick Rishe, a professor of sports business at Webster University. "But this is not about dollars and cents. He's doing this because he wants to be part of this exclusive club. Why not invest in something he's passionate about?"

First Published: May 30, 2014: 12:34 PM ET

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India's economy still underwhelms

Economic growth in India is much weaker than China.

HONG KONG AND LONDON (CNNMoney)

The disappointing number, released Friday, underscores the challenge facing India's newly-installed Prime Minister Narendra Modi as he takes over Asia's third biggest economy.

Meanwhile, investors have been optimistic that Modi will be able to pull India through its malaise.

The Indian rupee has strengthened almost 5% so far this year. The benchmark Mumbai Sensex index has increased by nearly 15% over the same period.

Related: Can Modi make India the new China?

India's growth potential was once mentioned in the same breath as that of China. But the world's biggest democracy has failed to deliver, and its economy is just a fifth the size of its Asian rival. China's economy grew by 7.7% in the first quarter of 2014.

In India, structural reforms have fallen foul of political gridlock. Analysts say India needs to simplify its tax code, encourage foreign investment and streamline agricultural production. Modi will have to move fast.

Modi likes to emphasize his management credentials. He campaigned on a record of low unemployment and high foreign investment in Gujarat, the state he led since 2001.

He has promised to end policy paralysis, reduce inflation and tackle corruption. He also pledged to establish manufacturing hubs and industrial corridors, improve the tax code and reform the banking sector.

The campaign was so successful that voters gave his Bharatiya Janata Party a majority in the lower house of parliament, sparing Modi the hassle of a coalition. Still, the BJP will face opposition from the Congress Party and other rivals in the upper house.

First Published: May 30, 2014: 9:33 AM ET

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Score! MSG stock up after Clippers buy, Rangers win

NEW YORK (CNNMoney)

Shares of MSG (MSG) -- the owner of the New York Knicks and Rangers -- popped as much as 4% on Friday in the wake of Ballmer's bid to buy the Los Angeles Clippers and the Rangers' first appearance in the Stanley Cup Finals in two decades.

While some in the sports world are scratching their heads at the $2 billion price tag on the once-lowly L.A. Clippers, MSG shareholders are only salivating.

"It's a staggering amount of money," said John Tinker, senior media and Internet analyst at Maxim Group. "Seriously, who could have thought the Clippers would be worth $2 billion?"

But if the Clippers, the former doormats of the NBA and perennial second fiddle to the Lakers, are worth that much, then surely that means good things for the Knicks. The New York franchise is believed to be the most valuable in the entire NBA, despite its on-the-court struggles.

Related: Steve Ballmer will ruin the 'Clippies'

MSG investors are also smiling about the other tenant of Madison Square Garden: the Rangers.

The team's 1-0 shutout of the Montreal Canadians on Thursday night means the Rangers will compete for their first championship since 1994 and host as many as three additional playoff games.

Financially, that translates to extra cash flow from higher ticket revenue and merchandise sales.

More importantly, a championship could do wonders for the hockey club's brand and drive revenue and valuations for years to come.

The timing couldn't be better for MSG, which just finished a $1 billion transformation of the iconic Madison Square Garden that features giant new video screens and bridges built over the playing surface.

Related: Salesforce is the L.A. Clippers of software

Of course, even when accounting for MSG's rally on Friday, the stock is off about 5% in 2014 and 7% over the past year.

That's because investors remain frustrated over the sports and media company's unwillingness to buy back stock. MSG, which carries no debt and was spun off from Cablevision (CVC, Fortune 500) in 2010, is controlled by the notoriously difficult Dolan family.

Tinker, who recently downgraded the stock to "neutral," said investors traditionally slap a "Dolan discount" on MSG and Cablevision shares.

"Why aren't they leveraging up and buying back some stock?" asks Tinker.

Maybe Ballmer's latest buy will clip that reluctance.

First Published: May 30, 2014: 12:47 PM ET

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Europe, Ukraine avoid gas disaster (for now)

Russia will keep pumping gas to Ukraine, for the time being, under terms of a new deal.

LONDON (CNNMoney)

Ukrainian authorities have agreed to pay $786 million to settle some debts for Russian gas imports. The deal ensures Russia's state-owned Gazprom (OGZPY) will continue delivering critical natural gas supplies to Ukraine and, in turn, Europe.

Ukraine and Russia were tied in a massive gas dispute. Russia accused Ukraine of owing billions in unpaid bills and threatened to cut off supplies starting in June. Europe was caught in the mess because roughly 15% of Europe's gas demand is supplied by Russia via Ukrainian pipelines.

After a week of intense talks between the three sides, they reached a partial agreement, with Ukraine's $786 million payment covering two months worth of gas supplies, showing Russia the country was serious about settling its debts.

Russia's energy minister Alexander Novak said that once the payment arrives Monday, talks will resume to settle the dispute over Ukraine's gas bills for an additional four months. They are also working to agree on the price of future gas deliveries.

The talks were held in an attempt to avoid a repeat of gas cuts caused by previous disputes between Russia and Ukraine in 2006 and 2009.

The gas dispute between Moscow and Kiev comes as violence flares in parts of eastern Ukraine between government forces and pro-Russian militants. Russia has been accused of stoking separatist tensions in Ukraine.

According to U.S. intelligence, 10,000 Russian troops are still standing at the border between the two countries, but in the last several days about 30,000 Russian troops moved back to their home bases.

Related: Russia fallout pushed Europe to develop shale gas

Ukraine had been running out of money to pay its gas bills and was facing bankruptcy early this year. The key reason it is now able to repay its debts is through assistance from the International Monetary Fund, the World Bank, the European Union and the U.S. government.

--CNN's Barbara Starr contributed to this report.

First Published: May 30, 2014: 2:23 PM ET

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Steve Ballmer will ruin the 'Clippies'

If Steve Ballmer runs the Clippers like he ran Microsoft, could this be far off?

NEW YORK (CNNMoney)

Dear Clippers fans and Los Angeles basketball fans who can't afford Lakers tickets (sorry if that's redundant):

Congratulations on Steve Ballmer taking over your team! You should consider this really great news, particularly if you think the Clippers need someone to do the Monkey Boy dance to take them to the next level during crunch time. Cue Gloria Estefan: Get on your feet!

Do you think the reason the Clippers were ousted from the playoffs had anything to do with coach Doc Rivers' inability to deliver a great locker room speech? Never mind that now! Substitute competitors for developers and Ballmer's got it covered.

"Be competitors! Competitors, competitors, competitors, competitors, competitors, competitors, competitors, competitors, competitors.... [heavy breath] YES!"

At Microsoft (MSFT, Fortune 500), Steve Ballmer had a penchant for renaming things that just weren't working. Windows Mobile became Windows Phone. Hotmail became Outlook. Ballmer's renaming expertise could pay off really well for the Clippers.

Related: Steve Ballmer to buy Clippers for $2 billion

How about the LA Softies? The LA Vistas? Or, wait, we've got it: The Los Angeles "Clippies!"

Imagine being greeted at the Staples Center by an amiable paper-clip-shaped personal assistant: "It looks like you're trying to find the concession stands. Are you looking to buy a personal hot dog or a business hot dog?"

See, you're feeling better already, aren't you?

The team will undoubtedly improve under Ballmer's tenure as owner too. Like Microsoft's famous "stack ranking" system, Ballmer will gather the players up by position and have them compete against one another in a series of skill drills.

If Hedo Turkoglu beats Blake Griffin at a three-point contest? Griffin would clearly have to be labeled an "underperformer" and get his bags packed. See ya, Blake! Good luck on the Lakers!

If nothing else, the Clippies will probably win the NBA title every year ... on the Xbox. (Don't even think about bringing a PlayStation to the locker room!)

And Ballmer's Clippies will surely be the most innovative team in the NBA. Microsoft under Ballmer was adept at spending billions of dollars to develop technology well ahead of its competition.

Microsoft built an e-reader way before Amazon (AMZN, Fortune 500), a tablet years before Apple (AAPL, Fortune 500) built the iPad and a touchscreen before the iPhone. But, like any good innovator, Microsoft let the competition try the technology out for years and years to work all the bugs out before it came to market.

So you can expect the Clippies to gather a group of the most experienced big data crunching basketball gurus in the world. And in 2025 or thereabouts, they'll put their technology to the test.

Related: Why the Clippers deal could pay off for Ballmer

Meanwhile, Ballmer will have Chris Paul do press conferences where he says the Miami Heat are doing some "interesting" things on the court with their championships and all, but no one can deliver complete end-to-end experiences for both consumers and business fans as the Clippies can. (Wait. That sounds like a Chris Paul State Farm commercial.)

Ballmer will also market the Clippies better than anyone in the business. If the 2015 Clippers make a trade, Ballmer will announce that they're now the 2015 Clippies Update 1. If they make a big trade, They'll be the 2015 Clippies Service Pack 1. And if they roll out roughly the same team in 2016, they can just be the 2015 Clippies R2. Brilliant!

Think of how much better things will be for the Clippies next year: The players will listen to Zunes during warmups and concession stands personnel will be replaced by Cortana.

And, like Microsoft, the team will go through a major restructuring every few years where Ballmer will remain on top, but the general manager and coach will be fired. Oh, wait, that's actually par for the course in the NBA. See? Ballmer's a natural!

Although maybe new Microsoft CEO Satya Nadella will need to buy the team in 2028 ... and move it to Seattle.

First Published: May 30, 2014: 11:48 AM ET

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Apple stock: How high can it go?

Click here for more information about Apple's stock.

NEW YORK (CNNMoney)

Apple (AAPL, Fortune 500) stock traded as high as $644 a share on Friday, the top price in more than a year and half. And if Goldman Sachs (GS, Fortune 500) is correct, this is just the beginning of the rally.

The investment bank raised its price target for Apple to $720 on Friday, well above its prior prediction of $635. UBS, among others, also upgraded the stock this week.

Anything above $700 is significant. Apple's stock closed at a record high of $702 in September 2012, and plenty of people have questioned whether the company would ever be anywhere near that again.

There's a lot of momentum driving this "golden Apple" resurgence. The company is fresh off its blockbuster Beats acquisition and will host its Worldwide Developers Conference next week, where it has traditionally unveiled fresh products such as a new iOS platform or device.

Related: Apple buying Beats for $3 billion

Goldman is betting that Apple will reveal new software soon. In an era when everyone has a smartphone or a tablet, cool software is what differentiates a company from its competition. While iPhone sales are still robust, the iPad hasn't had the same spark.

Rumors of what's coming next week from Apple range from a health tracker to more ways to for people to connect their home devices to their phones and apps, the next evolution in the so-called "Internet of things".

"We expect upcoming hardware refreshes to act as powerful near-term drivers of earnings momentum and stock performance, but platform enhancements such as mobile payments, connected home solutions, and personal health monitors should be far more important," the report said.

The company also announced a 7-for-1 stock split at the end of April. It's mostly a practical and psychological move. It doesn't create new value for the company, although it will make buying a share of the tech giant a lot less expensive for normal people.

At current price levels, a share of Apple would cost under $100 after the split.

Related: What does 7 Apples a day mean?

Investors have responded positively to the move, sending the stock up nearly 17% since the announcement at the end of April.

First Published: May 30, 2014: 2:15 PM ET

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Stocks hit another record, have a great May

Click the chart for more markets data.

NEW YORK (CNNMoney)

Here's what you should know:

1. Stocks eke out gains Friday on top of a strong month: The Dow and S&P 500 notched out record closes Friday, while the Nasdaq fell modestly.

This month, the S&P 500 surged over 2%, ending at 1,923.5. The Nasdaq experienced an even more dramatic rebound after two months in the red, adding 3.1% in May. The Dow hit a new high of 16,717.

In another telling sign of a rebound, the CNNMoney Fear & Greed index is in neutral territory. It had been languishing in fear for weeks.

Related: Fear & Greed Index back to neutral

2. Market movers: Allergen, Salesforce, Big Lots, Ann Taylor -- Shares of Allergan (AGN, Fortune 500) spiked almost 6% after hedge fund manager Bill Ackman and Valeant Pharmaceuticals (VRX) boosted their takeover bid for the Botox maker.

Big Lots (BIG, Fortune 500) soared 13% after the retailer topped analysts' earnings expectations and raised its outlook for the rest of the year.

Salesforce (CRM) shares fell after initially getting a bump from the company's announcement of a partnership with Microsoft.

Speaking of Microsoft, the news that the company's former CEO Steve Ballmer will buy the L.A. Clippers for $2 billion is having an effect on the stock of Madison Square Garden. Shares of MSG (MSG), owners of the Knicks and the Rangers, rose more than 3% today as investors bet that the size of the Clippers deal will translate into a high valuation for New York teams, which play in the biggest market in the country.

Shares of Ann Taylor (ANN)popped 4% after the women's apparel retailer beat earnings estimates, boosted by sales increases in its more casual LOFT brand.

3. Golden Apple? Apple shares traded as high as $644 Friday, but dipped back down to $633 by the closing bell. Still, the stock is up 7% in the last month, and is only about 11% away from its September 2012 all time high.

Apple has benefited recently from its $3 billion acquisition of Beats, as well as anticipation ahead of a developer's conference Monday. There's also excitement about Apple's seven-to-one stock split in early June.

Related: Apple stock: How high can it go?

But one StockTwits trader wasn't buying into the Apple hype just yet.

"$AAPL I'm taking a breather. Next week may just not be as good as everyone expects. Will get in again if something really good happens," said kjbusa.

StockTwits user PaulCloutier thought the Apple excitement was warranted.

"$AAPL Some people were not convinced about apple and now they change their mind, thats all. Bullish," he said.

Related: CNNMoney's Tech30

4. International action: European markets finished mostly lower, with shares of BNP Paribas (BNPQF) off by more than 2%. The Wall Street Journal reported that U.S. authorities were pushing the bank to pay more than $10 billion to settle a criminal probe of alleged sanctions violations.

Asian markets ended with mixed results.

First Published: May 30, 2014: 9:49 AM ET

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Sonic & Chili's: Leave guns at home

Chili's told guests Friday to "refrain from openly carrying firearms into our restaurants."

NEW YORK (CNNMoney)

Chili's, which is owned by Brinker International (EAT), said Friday, "We kindly ask that guests refrain from openly carrying firearms into our restaurants and we will continue to follow state and local laws on this issue."

Sonic (SONC) said, "We're asking that customers refrain from bringing guns onto our patios or into our indoor dining areas."

Related: Chipotle: Guns not welcome here

In recent months, gun enthusiasts have held rallies and openly carried firearms, including large automatic weapons, into restaurants. It's alarmed customers and led to campaigns against guns in restaurants from advocacy groups like "Moms Demand Action for Gun Sense in America."

Earlier this month, Chipotle (CMG)said it did not want customers to bring guns into its restaurants "unless they are authorized law enforcement personnel."

Last year, Starbucks (SBUX, Fortune 500) also told customers they shouldn't bring guns into its stores. The company said the debate about whether people should openly carry guns had become increasingly uncivil and that the chain did not want its stores to be used as a political stage.

First Published: May 30, 2014: 5:52 PM ET

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Want Beyoncé tickets? Wait till the last minute

Beyoncé and Jay-Z will be kicking off their tour at Sun Life Stadium in Miami in June. Last year, she played smaller arenas.

NEW YORK (CNNMoney)

The reason: Unlike last year, some of the hottest concerts -- Beyoncé, Rihanna, and One Direction -- are all playing at big stadiums.

Larger venues mean more tickets.

"As we get closer to the shows, ticket brokers who hold big blocks of seats will start to release their inventory, and there will be plenty of inventory this year," said Chris Matcovich, who runs data and communications for ticket search engine TiqIQ.

Matcovich says chances are, people will be able to get tickets the day before and even on the day of the event, especially if they don't care where they sit. However, he advises discerning concert goers who want choice seats not to wait till the day before. To be on the safe side, they should buy tickets a week or two before the performance.

Related: Apple buying Beats for $3 billion

Usually, when concert tickets are first released, only a few lucky fans are able to snag seats through Ticketmaster or parent Live Nation (LYV, Fortune 500). The rest are left to find tickets that are resold via StubHub, TicketNetwork, SeatGeek, or even eBay.

That's because ticket brokers, credit card companies, venue owners, and even fan clubs tend to snatch up large blocks of tickets as soon as they are sold. While brokers hope to sell at higher prices, companies use them as a special currency for VIP's.

But this year, they might end up holding on to more seats than they can fill until it's too late.

And that usually leads to last-minute discounts.

Consider this: The British boy band One Direction, a rage among American tweens and teenagers, will be playing this summer at 70,000- to 80,000-seat football fields. Last year, they played at 20,000-seat arenas.

The same holds true for Beyoncé and Jay-Z, who'll be kicking off their tour at Sun Life Stadium in Miami in June. Last year, the Queen B played smaller arenas.

Tickets are already selling at lower prices this year, according to TiqIQ.

In 2013, the average price of a One Direction ticket was selling for $433. This year, it's selling for $236, according to TiqIQ.

Similarly, tickets for Beyoncé's show last year cost $399. This year they're selling around $274.

And if Matcovich is right, chances are they could go even lower.

First Published: May 30, 2014: 3:03 PM ET

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INDY: Pagenaud ends Friday on top

By Mark Glendenning

Friday, May 30th 2014, 20:31 GMT

Simon Pagenaud topped the times in the second of Friday's practice sessions for this weekend's IndyCar races on Belle Isle in Detroit

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USC: Westbrook grabs USC pole in Detroit

By Mark Glendenning

Friday, May 30th 2014, 22:33 GMT

Richard Westbrook used his final flying lap to give Corvette a hometown pole position for Saturday's United SportsCar race on the Belle Isle street circuit in Detroit

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NASCAR: Keselowski claims Dover pole

Friday, May 30th 2014, 21:00 GMT

Brad Keselowski took a dominant NASCAR Sprint Cup pole as records were broken in qualifying for Sunday's Dover International Speedway round

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FE: Montagny joins Andretti in Formula E

Thursday, May 29th 2014, 13:51 GMT

Franck Montagny will race in the inaugural Formula E series with the Andretti Autosport team, the American squad announced on Thursday

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F1: 'Rookie syndrome' affecting Magnussen

By Ben Anderson

Thursday, May 29th 2014, 14:38 GMT

Kevin Magnussen is struggling to deal with the fact McLaren's Formula 1 car is not capable of winning races, suffering from what Eric Boullier calls "rookie syndrome".

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WRC: Peugeot not interested in WRC return

By David Evans

Thursday, May 29th 2014, 16:24 GMT

Peugeot Sport director Bruno Famin has ruled out a return to the World Rally Championship any time soon, saying World Rallycross offers better value.

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F1: Boullier agrees with Prost comments

By Ben Anderson

Wednesday, May 28th 2014, 14:53 GMT

Eric Boullier agrees that McLaren needs to "rethink" its approach to become successful again in Formula 1, following recent criticism of the Woking team by its former driver Alain Prost

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F3: Carlin's Jones ruled out by injury

Wednesday, May 28th 2014, 14:40 GMT

Ed Jones will miss the next three rounds of the Formula 3 European Championship as he continues to recovery from an injury he sustained during the Pau Grand Prix earlier this month

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FR3.5: Back injury sidelines Vaxiviere

By Glenn Freeman

Wednesday, May 28th 2014, 16:51 GMT

French racer Matthieu Vaxiviere will miss the next two Formula Renault 3.5 rounds and the Le Mans 24 Hours as a result of a back injury sustained in Monaco.

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F1: Leimer aims for F1 after Pirelli test

Tuesday, May 27th 2014, 16:15 GMT

Reigning GP2 champion Fabio Leimer says he is still aiming to race in Formula 1 after completing his test at the wheel of the Pirelli test car on Tuesday

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F1: Fernandes: Caterham is not for sale

Tuesday, May 27th 2014, 19:10 GMT

Caterham Formula 1 boss Tony Fernandes has insisted the team's parent company is not for sale

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OTHER: Wehrlein, Rosberg in promo accident

Tuesday, May 27th 2014, 19:28 GMT

Mercedes DTM racer Pascal Wehrlein has been involved in an incident while with Formula 1 driver Nico Rosberg at a promotional event that left two people injured

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INDY: Andretti open to more Busch outings

By Mark Glendenning

Monday, May 26th 2014, 15:12 GMT

Michael Andretti says that he is open to working with Kurt Busch again in the future following the NASCAR star's outstanding performance in the Indianapolis 500.

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F1: Raikkonen still not comfortable with car

By Ben Anderson

Monday, May 26th 2014, 15:40 GMT

Kimi Raikkonen says he is still not fully comfortable with Ferrari's current Formula 1 car, after his troubled start to the season continued at the Monaco Grand Prix.

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WEC: Alonso to give Le Mans 24 Hours start

By Gary Watkins

Monday, May 26th 2014, 15:50 GMT

Two-time Formula 1 world champion Fernando Alonso will give the start at next month's Le Mans 24 Hours.

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F1: Bianchi says Marussia points not luck

By Edd Straw and Jonathan Noble

Sunday, May 25th 2014, 19:13 GMT

Jules Bianchi believes Marussia's first Formula 1 points finish in the Monaco Grand Prix was not just down to luck, as he feels the team has made genuine progress

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F1: Turbo failure halted Vettel

By Jonathan Noble

Sunday, May 25th 2014, 18:54 GMT

Sebastian Vettel's chances of a podium finish in the Monaco Grand Prix were wrecked by a turbo failure on his Red Bull-Renault

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INDY: Hunter-Reay earns first Indy 500 win

By Mark Glendenning

Sunday, May 25th 2014, 19:51 GMT

Ryan Hunter-Reay triumphed in a thrilling late-race duel with Helio Castroneves to win the Indianapolis 500

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F1: Wolff explains Rosberg's wild steering

By Jonathan Noble

Saturday, May 24th 2014, 17:50 GMT

Mercedes motorsport boss Toto Wolff insists there was nothing suspicious about Nico Rosberg's wild steering movements on the entry to Mirabeau during the controversial end to Monaco Grand Prix qualifying

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F1: Kvyat 'lucky' to continue after shunt

By Ben Anderson

Saturday, May 24th 2014, 18:05 GMT

Toro Rosso's Formula 1 rookie Daniil Kvyat says he was "lucky" to continue qualifying for the Monaco Grand Prix, after striking the barrier in Q1

You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.

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The guy who tried to rig gold prices and cost his bank $44 million

London has been a gold trading center for hundreds of years, and the system for "fixing" benchmark prices dates back to 1919.

LONDON (CNNMoney)

Nearly two years ago, a Barclays trader took advantage of weak internal controls in a bid to rig the price of gold and profit at a customer's expense.

On Friday, Barclays (BCS) was fined £26 million, or nearly $44 million, by British regulators. Public documents lay out how the trader was able to slip through the bank's oversight.

Related: Barclays to shed 19,000 jobs

The story begins on June 27, 2012. It was already a lousy day in the history of Barclays. The U.K. banking icon had been exposed for trying to manipulate global interest rates and fined $453 million.

Separately, gold trader Daniel Plunkett stood to lose heavily on a single trade.

A client of his had staked about $43 million on a two-year bet that the price of gold would rise.

Plunkett was on the other side of that bet: If gold prices rose, he would lose money.

The contract for the trade was based on the London Gold Fixing -- a benchmark price set by a group of banks, including Barclays, in a process that dates back to 1919.

If gold was "fixed" above $1,558.96 an ounce on June 28, the bank would have to pay $3.9 million and Plunkett's trading book would take a hit.

On June 27, gold was fixed at $1,573.50. And worse, future prices were trading higher that evening.

So Plunkett emailed the metals trading desk at Barclays to tell them he was hoping for a "mini puke" -- or fall -- in the price the following day.

"Hopefully we fix 1,558, or 1,558.75 ideal," he repeated to a colleague early on June 28, regulators said.

At the time, Barclays' systems were unable to spot such attempts to manipulate benchmark prices. It couldn't properly manage the conflict of interest between being part of the price-setting club and selling products dependent on those prices.

It was a weakness Plunkett was able to exploit.

The Gold Fixing began as usual at 3 pm. Deutsche Bank (DB), HSBC (HBCYF), Scotiabank and Societe Generale (SCGLF) joined Barclays on a conference call.

After a few minutes weighing up buying and selling interest, the group came up with a proposed "fix" of $1,558.50.

But the balance swung in favor of buyers, so Plunkett jumped in with a sell order for 60,000 ounces (worth about $90 million) in the hope of preventing a price rise.

At 3:10 pm the "fix" was done at $1,558.50, letting Barclays off the hook and boosting Plunkett's trading book by $1.75 million.

Related: Goldman Sachs under scrutiny for high speed trading

Plunkett's victory was short-lived. The customer demanded an explanation almost immediately, and after an investigation, Barclays made good on the trade.

"We very much regret the situation that led to this settlement," said Barclays CEO Antony Jenkins. The bank has worked hard to improve systems and controls, and was committed to the "highest standards," he added.

Plunkett was fined £96,500 and banned from trading.

First Published: May 23, 2014: 10:57 AM ET

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The 3 brands that GM hasn't recalled - yet

NEW YORK (CNNMoney)

The truth is there are three GM brands that haven't been recalled in 2014: Hummer, Saab and Oldsmobile.

The bad news for GM? It doesn't manufacture those vehicles anymore.

GM started phasing out Oldsmobile more than 13 years ago, and the last one rolled off an assembly line almost exactly 10 years ago. Some of the 13.8 million U.S. cars and trucks that GM has recalled this year do date back to 2003 and 2004 model years, when Oldsmobiles were still in showrooms. But most of this year's recalled cars were newer models.

So the fact that Oldsmobiles have been out of circulation for so long explains why it hasn't been hit by recalls.

Related: GM cars sold - 12.1 million. Recalled - 13.8 million

Saab and Hummer are another matter. They were both shut down during the company's 2009 bankruptcy reorganization.

Saturn and Pontiac were also discontinued in 2009, but they've figured prominently in this year's recalls, including GM's controversial flawed ignition switch recall that's been linked to at least 13 deaths.

The difference: Unlike Saab and Hummer, Saturn and Pontiac were mass market brands. As a result, they shared many design elements, and parts, with GM's other brands, such as Chevrolet and Buick. So a problem with a Chevrolet Cobalt is likely to turn up in a Saturn Ion or a Pontiac G5.

Related: GM's recalled Cobalt a failure from the start

The higher-end Saab and Hummer brands had fewer shared parts with GM's mass market brands, so they weren't as susceptible to the recall contagion that hits when one part is used in many different cars.

And the fact that they weren't mass-market cars meant that GM wasn't cutting quite as many corners to build them. The part at the center of the ignition switch recall cost just 57 cents.

Of course the fact that Saab and Hummer weren't mass market cars also means there are relatively few drivers on the road today to enjoy the fact that their cars haven't been recalled.

In fact, sales of all three brands were fairly meager, which is of course why GM doesn't make them anymore.

First Published: May 23, 2014: 10:30 AM ET

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Friday Links

NEW YORK (CNNMoney)

A weekly collection of design, data and interactive links.

Photo/Video
Stopcycle | Series of 25 small scale sculptures in a loop
The Last Memory | 3D animated short about the Baltic Harbour Porpoise
Supercell Thunderstorm | Thunderstorm footage
Climage change | Before and after imagery

Design/Data viz
Quaddel | Simple controllable process for growing structures
SynthCube | Google's Rubik's cube sound toy
NY Train Project | Visual study of NYC's subway signage
Device 6 | Elegant title sequence

See last week's links

Have a nice weekend!
@dubly and @talyellin

First Published: May 23, 2014: 3:34 PM ET

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Cut your cooling costs by 30% or more

Having a technician service your central-air system every year or two could help you save up to 10% on your electric bills.

(Money Magazine)

Below, a few simple steps to trim your bill 30% or more.

SAVE UP TO 10%

Clear the condenser: Prune back shrubs and ground covers at least a foot away from your outdoor air-conditioning equipment, says Charles Cormany of Beanstalk Energy, a Sonoma, Calif., residential energy efficiency contractor. Then use a blower to remove leaves and debris from in and around the case for maximum airflow.

Get a checkup: Have a technician service your central-air system every year or two.

For $100 or $200, he'll charge the refrigerant, adjust the settings to maximize efficiency, and check the insulation on the coolant pipes, says David Kyle, owner of an AC service and installation company in Lorton, Va.

SAVE UP TO 20%

Replace filters: Install new filters at least twice a year, says Cormany. "Forget fancy, antimicrobial filters," he says. "Go for the cheapest."

They should cost less than $10 each. For window units, hand-wash and dry filters monthly.

Plant a tree: You'll pay $200 to $500 to have a landscaper or nursery plant a 10-foot tree on the south or west side of your home (going leafless in winter lets you benefit from solar heat).

Tighten ducts: Hire an energy efficiency contractor to seal and insulate attic ducts, says Max Sherman of the Lawrence Berkeley National Laboratory. You'll spend $500 to $2,000.

SAVE UP TO 30%

Install ceiling fans: Not surprisingly, a breeze makes your home feel cooler. For about $200 to $600 each (including installation) you can hang ceiling fans in the rooms where you spend the most time, allowing you to turn down the AC by two degrees without any loss of comfort.

Upgrade: If your AC is more than 10 years old and you're in a hot climate, replacement will pay for itself quickly. Expect to spend $2,000 to $10,000 for a new central-air system, says Kyle. Upgrading window units typically costs $100 to $300.

Beware: A high-BTU unit can jack up operating costs, with less effective results. Stick with about 20 BTUs per square foot.

First Published: May 23, 2014: 12:55 PM ET

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Just 2% of GM cars have ignition switch fix

A mechanic at a GM dealership in Michigan replaces an ignition switch on a recalled car.

NEW YORK (CNNMoney)

GM (GM, Fortune 500) began repairing the 2.6 million recalled vehicles six weeks ago. The automaker says that dealers have made such a small number of repairs in that time because it's having difficulty getting enough of the replacement parts it needs from Delphi Automotive (DLPH).

Delphi was the sole supplier of the part when the recalled cars were in production, and is the only manufacturer readily equipped to ramp production back up. It's already added extra shifts at the Mexican factory where the ignition switches are being made, and Delphi announced last week that it is adding an extra production line.

"With the second line coming online, we expect a much greater availability of parts," said GM spokesman Greg Martin. "By mid-July we expect supplies of parts to meet demand."

Related: GM recall's $1.7 billion windfall

GM says that Delphi will have made all of the parts required to repair all of the cars recalled for faulty ignition switches by October.

People who own cars that get recalled typically don't rush to bring cars in for repairs -- even in high profile cases like this one. And roughly a third of recalled cars are never brought in for repairs.

GM says its records show that 80% of its recalled cars and trucks are repaired within a year, and 85% are repaired within two years. The automaker says that's the highest repair rate in the industry, and that it's committed to repairing every car with the faulty ignition switch.

Related: GM cars sold - 12.1 million. Recalled - 13.8 million

The ignition switch is at risk of turning off the car while it is being driven if the key is jostled. The loss of power can disable the airbag, the power steering and anti-lock brakes.

GM insists that tests it has conducted show the cars are safe to drive, as long as drivers don't have other keys or key fobs on their key ring. And it says that any car owner who doesn't feel comfortable driving their car can get a free loaner from a GM dealership. About 35,000 loaners are now out in the field.

So far this year GM has recalled 13.8 million U.S. cars and trucks, more than the nation's largest automaker has ever recalled in a single year.

First Published: May 23, 2014: 2:50 PM ET

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Seinfeld's 'Comedians in Cars' adding 24 new episodes

Seinfeld's 'Comedians in Cars Getting Coffee' premiers June 19 and now has a sponsor for the next four seasons. Click the image for a gallery of some of the cars, and stars, that have appeared on the show so far.

NEW YORK (CNNMoney)

This will be season four for the web series, which is now set to continue for another five seasons.

Crackle.com, a unit of Sony (SNE) Pictures TV, says luxury automaker Acura has extended its exclusive deal to sponsor 24 new episodes of the car & comedy mashup.

"Comedians in Cars Getting Coffee" is an online series appearing on Crackle.com that revolves around Seinfeld driving fellow comedians around in rare and expensive cars - then going for coffee. David Letterman, Don Rickles, Seth Meyers, and Chris Rock have all appeared with Seinfeld.

Related: The 'world's craziest, beautiful cars'

This season the show will feature Aziz Ansari, Robert Klein, Sarah Jessica Parker, Jon Stewart, and George Wallace.

The series has been an underground success. Crackle.com's website says that since its debut in 2012, "Comedians in Cars Getting Coffee" has delivered more than 40 million streams.

Series sponsor Acura is owned by Japan's Honda Motor (HMC).

First Published: May 23, 2014: 2:51 PM ET

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Federal workers owe IRS the $3.3 billion

When it comes to unpaid taxes, Treasury Department employees have the lowest tax delinquency rate among all federal departments.

NEW YORK (CNNMoney)

The IRS released data this week showing that roughly 3.3% of federal employees and retirees owed $3.3 billion in unpaid taxes as of Sept. 30.

That means they either couldn't pay the full amount owed when they filed a return, or they got snagged by an IRS audit and were told they owed more than they already paid.

The data, released after USA Today requested it under the Freedom of Information Act, broke down delinquency rates by departments and independent agencies.

At the low end of the scale was the Treasury Department, which had a 1.2% non-compliance rate.

A big part of Treasury is the IRS itself, which had a delinquency rate of 0.9%, according to an agency spokesman.

The rate among the population at large is at least 8.7%, the IRS estimates.

A few weeks ago the IRS found itself in hot water with Congress for having paid $1 million in bonuses to 1,100 IRS employees who were late in paying their taxes or had willfully understated their tax liability or income.

But it turns out the delinquency rate among Congressional staffers is higher -- 4.87% in the House and 3.24% in the Senate -- than those of IRS workers.

The government departments with the highest non-compliance rates were the Department of Housing and Urban Development (5.29%), the Department of Veterans Affairs (4.38%) and the Army (4.28%).

Among large independent federal agencies, which have at least 1,000 employees, the biggest offender was the Court Services and Offender Supervision Agency (8.05%), followed by the Government Printing Office (7.99%), the Smithsonian Institution (6.7%) and the Federal Reserve's board of governors (6.51%).

On the low end of the scale was the National Credit Union Administration (1.75%), the U.S. Nuclear Regulatory Commission (1.97%) and the Executive Office of the President (2.05%).

First Published: May 23, 2014: 3:56 PM ET

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Apple removes weed dealing game from app store

NEW YORK (CNNMoney)

The makers of a game called Weed Firm says Apple removed the app from the iTunes App Store this week after hitting No. 1 on the store's download charts.

In Weed Firm, players walk in the shoes of pot dealer Ted Growing through his "vicious and lawless career," growing marijuana plants and selling pot while dodging "crooked cops" and "dangerous gangsters." You may even be tasked with paying a stripper to give a lap dance.

Apple (AAPL, Fortune 500) did not respond to a request for comment about why the game was removed.

Related: Apple drops top Bitcoin app from marketplace

Developer Manitoba Games said it was also left in the dark about the game's removal.

"We guess the problem was that the game was just too good and got to number one in all categories," the company said in a statement.

Apple hasn't yanked other weed-related apps from its store. Weed Maps allows you to find medical marijuana dispensaries near you. And a game called Weed Tycoon lets players set up virtual pot shops, set prices for different strains, and buy farms to grow your weed.

"There are certainly a great number of weed based apps still available, as well as games promoting other so-called 'illegal activities' such as shooting people, crashing cars and throwing birds at buildings," Manitoba Games said.

While Weed Firm's character is leading a "lawless" career, it's perfectly legal to buy and sell pot in the state of Colorado, though sellers must be licensed by the state and adhere to strict guidelines that Ted Growing may not be used to. The company says in the opening credits that the game is a work of fiction and is not a manual on how to grow or deal weed.

Still, the legality of marijuana remains murky. As of June 1, Colorado and Washington are the only states where you can legally buy recreational marijuana and it remains illegal under federal law.

Manitoba Games said it is planning to get Weed Firm back in the Apple store after making some changes. It was also taken down from the Google (GOOGL) Play store, but the company said that was due to a problem with the game's publisher and not with Google. It is expected to return after finding a new publisher.

First Published: May 23, 2014: 2:48 PM ET

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Suzuki recalls cars built by GM

NEW YORK (CNNMoney)

Suzuki, the Japanese automaker, is recalling 184,000 cars that were built for it in South Korea by GM and sold in the United States.

What's not clear, given that Suzuki stopped selling cars in the U.S. last year, is who will make the repairs when a fix becomes available.

GM (GM, Fortune 500), which so far this year has recalled a record 13.8 million cars and trucks it sold in the U.S., says it has no information about where Suzuki owners should have their cars fixed. Suzuki did not immediately respond to questions about the recall.

The recall was revealed by the National Highway Traffic Safety Administration (NHTSA), the federal safety regulator.

Related: GM cars sold - 12.1 million. Recalled - 13.8 million

"Suzuki will notify owners but the manufacturer has not yet provided a notification schedule," said NHTSA's notice. "The remedy for this recall campaign is still under development."

The problem is an overheating headlamp switch and module that poses a risk of fires.

Related: The three brands GM hasn't recalled - yet

The recall covers the 2004 to 2008 Suzuki Forenza and the 2005 to 2008 Suzuki Reno. Earlier this week, GM recalled 218,000 similar cars, the Chevrolet Aveo and Optra.

GM spokesman Alan Adler said the company had been notified of the problem by Suzuki, and that is the reason it recalled its own cars.

The automaker said it is aware of an unspecified number of fires but no injuries or deaths caused by the problem in its versions of the cars. The NHTSA notice did not mention anything about incidents involving the Suzuki vehicles.

Later on Friday, GM recalled another 500 vehicles for a potentially faulty part controlling the air bags. This recall affects full-size pickups and SUVs from the 2014 and 2015 model years, but Adler said he does not yet know which models.

It could possibly include the Chevy Tahoe and Suburban, GMC Yukon and Yukon XL, GMC Sierra, the Chevy Silverado and the Cadillac Escalade. The company will release more detailed information at a later date, Adler said.

First Published: May 23, 2014: 11:33 AM ET

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I sold my startup to Cisco. Here's why

Dov Yoran, CEO and co-founder of ThreatGRID, talks about why he sold his company to Cisco Systems.

NEW YORK (CNNMoney)

Yoran had grown accustomed to refusing countless tech companies and investors who wanted a piece of his firm's sophisticated threat intelligence platform.

"We've been saying no to people for years. We didn't build a company just to flip it and move on," said Yoran, who co-founded ThreatGRID with Dean De Beer. "We really wanted to experience the whole thing from a startup and having guys sleep on couches and bootstrapping it."

And then Cisco Systems (CSCO, Fortune 500) entered the picture.

Cisco began informal conversations with New York-based ThreatGRID late last year. The talks quickly accelerated this winter and culminated this week with Cisco announcing a deal to acquire ThreatGRID and pair it with its rapidly expanding security platform.

Related: Internet Explorer bug lets hackers control your PC

"They made an incredibly compelling offer -- for not only today but what the vision looks like going forward," said Yoran, who is CEO of ThreatGRID.

Neither Cisco nor ThreatGRID would disclose the value of the deal due to confidentiality agreements.

But Yoran said "it was a fantastic exit for investors, shareholders and employees."

Yoran, who is 38 years old and lives in New York's SoHo neighborhood, said he doesn't plan any major lifestyle changes despite the looming financial windfall.

"It really wasn't about the money. It was about the drive and excitement of what we were building. The money came afterwards, which is pretty cool," said Yoran, who was a pre-med major at Tufts University before changing direction and earning a bachelor's in chemistry. He received his master's at George Washington University.

So why did Yoran decide to sell to Cisco after saying no to many others?

The clincher was the ability of Cisco to help ThreatGRID expand by incorporating the platform with its other products. Cisco plans to marry ThreatGRID with SourceFire, the cyber security company it acquired last year for $2.7 billion. SourceFire and ThreatGRID should be comfortable with each other since they had a previous partnership.

It also helps that the sale won't rock the boat for ThreatGRID's 25 employees, who will be allowed to continue doing what they do now, including working from home.

ThreatGRID crowdsources massive volumes of malware to provide threat intelligence to its clients, which include security subsidiaries of General Dynamics (GD, Fortune 500) and EMC (EMC, Fortune 500).

"We analyze data that are captured by endpoint and network vendors and we make it readable in a way their products can digest and take action," said Yoran.

Related: U.S. wants companies to share security data

Cyber security firms continue to be objects of desire for big tech companies due to the rising threat level.

Consider that the ThreatGRID deal was unveiled during a week headlined by a major hacker crackdown by the FBI, the U.S. accusing Chinese hackers of cyber espionage, eBay (EBAY, Fortune 500) disclosing a cyber attack and Target (TGT, Fortune 500) detailing its struggles to recover from last year's epic breach.

"For cyber attackers, and those who defend against them, the stakes could not be higher than they are right now," said Hilton Romanski, head of business development at Cisco, in a blog post announcing the ThreatGRID acquisition.

ThreatGRID is the first company Yoran co-founded that wound up being acquired, but it's hardly his first rodeo in the merger and acquisitions world.

Over the past two decades, Yoran worked at and invested in companies acquired by Intel's (INTC, Fortune 500) McAfee and Symantec (SYMC, Fortune 500), including a firm co-founded by his two brothers.

He said that experience helped guide him through Cisco's rigorous acquisition process and contemplate other potential options -- such as another round of funding or even an initial public offering.

And he made sure to remember this important lesson.

"You're not selling the company. Someone is buying the company," he said.

First Published: May 24, 2014: 10:58 AM ET

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INDY: Kanaan quickest on Carb Day

By Mark Glendenning

Friday, May 23rd 2014, 16:38 GMT

Tony Kanaan led Scott Dixon to a Chip Ganassi Racing 1-2 on Carb Day at Indianapolis Motor Speedway, the final major practice session before the Indy 500 on Sunday.

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LIGHTS: Chaves takes dramatic Indy win

By Mark Glendenning

Friday, May 23rd 2014, 17:42 GMT

Gabby Chaves only led a few inches of the Indy Lights Freedom 100 at Indianapolis Motor Speedway, but it was enough to secure the win and get the Colombian's title bid back on track.

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LIGHTS: Lights racer Austin fractures wrist

By Mark Glendenning

Friday, May 23rd 2014, 20:32 GMT

Chase Austin suffered a fractured wrist in a crash during the Indy Lights Freedom 100 at Indianapolis Motor Speedway on Friday

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LIGHTS: Razia takes Lights pole at Indy

By Mark Glendenning

Thursday, May 22nd 2014, 22:55 GMT

Just two weeks after his pole-to-flag Indy Lights win on the Indianapolis Motor Speedway road course, Luiz Razia secured pole position for Friday's Freedom 100 on the famed oval

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LIGHTS: Indy Lights unveils new 2015 car

By Mark Glendenning

Thursday, May 22nd 2014, 22:41 GMT

The new Dallara IL-15 Indy Lights chassis was unveiled to the public for the first time at Indianapolis Motor Speedway on Thursday

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NASCAR: Johnson claims his first pole of 2014

Friday, May 23rd 2014, 00:39 GMT

Jimmie Johnson took his first NASCAR Sprint Cup pole position of the year during qualifying for Sunday's Charlotte 600

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09.28 | 0 komentar | Read More

F1: Red Bull forced to change camera slot

By Jonathan Noble

Wednesday, May 21st 2014, 17:29 GMT

Red Bull will have to change the design of the front camera pods on its Formula 1 car from this weekend's Monaco Grand Prix following a clarification from the FIA

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F1: New Monaco surface 'a big issue'

By Jonathan Noble

Wednesday, May 21st 2014, 17:59 GMT

Jenson Button has predicted that major track resurfacing in Monte Carlo is going to make life extra hard for Formula 1 drivers at this weekend's Monaco Grand Prix

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F1: Vettel: Mercedes' dominance greater

By Jonathan Noble

Wednesday, May 21st 2014, 18:45 GMT

Sebastian Vettel thinks Mercedes' current Formula 1 dominance is greater than his Red Bull team has ever had - although he hopes Monaco proves his outfit is closing the gap

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F3: Russian Orudzhev joins Carlin for F3

By Marcus Simmons

Tuesday, May 20th 2014, 16:32 GMT

Formula Renault Eurocup driver Egor Orudzhev will make his Formula 3 debut in this weekend's British round at Silverstone.

You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.

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F1: Renault expects engine penalties

By Jonathan Noble

Tuesday, May 20th 2014, 15:43 GMT

Renault fears that some of its Formula 1 drivers are on course to face grid penalties later this year because of early season reliability niggles.

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INDY: Honda wants Ford to reconsider Indy

By Mark Glendenning

Tuesday, May 20th 2014, 18:25 GMT

Honda's IndyCar project leader is optimistic that Ford will reconsider comments made last week in which the American manufacturer ruled out any IndyCar programme in the foreseeable future

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INDY: Busch blames crash on complacency

By Mark Glendenning

Monday, May 19th 2014, 19:42 GMT

Kurt Busch has admitted that complacency played a role in his crash during practice for the Indianapolis 500 on Monday afternoon

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INDY: Carpenter backs ovals-only focus

By Mark Glendenning

Monday, May 19th 2014, 18:50 GMT

Indianapolis 500 pole-sitter Ed Carpenter is confident that his new part-time driver status will not compromise his chances of a good result in the race next weekend

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OTHER: Johansson enters Nurburgring 24H

By Gary Watkins

Monday, May 19th 2014, 19:59 GMT

Former grand prix driver Stefan Johansson will make his Nurburgring 24 Hours debut 31 years after finishing second on the Nordschleife in a Group C Porsche 956

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OTHER: Jota wins eventful Imola ELMS race

Sunday, May 18th 2014, 16:28 GMT

Jota Sport put its massive Silverstone crash behind it by winning an engrossing European Le Mans Series race at Imola with Simon Dolan, Filipe Albuquerque and Harry Tincknell

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INDY: Carpenter takes pole for Indy 500

By Mark Glendenning

Sunday, May 18th 2014, 19:49 GMT

Ed Carpenter will start from pole position for next weekend's Indianapolis 500 after triumphing in the final day of qualifying on Sunday

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F1: Sir Jack Brabham dies aged 88

Monday, May 19th 2014, 01:27 GMT

Sir Jack Brabham, the three-time Formula 1 world champion, has died at the age of 88.

A statement from the Brabham family said that the Australian passed away peacefully at his home on the Gold Coast on Monday morning.

Brabham was the first man to win an F1 title in a car of his own making, as he established the Brabham team in the early 1960s after winning his first two F1 titles with Cooper.

It was with Cooper that he had made his F1 debut in 1955, having begun his career in midget racing and hillclimbs in Australia at the start of the decade.

After initially focusing on the team's sportscar and Formula 2 efforts around sporadic grand prix outings, he became a full-time F1 driver in 1958.

His maiden victory came in Monaco at the start of the following season, and kicked off two ultra-successful years that brought him both the 1959 and '60 world championship titles.

He created the Brabham team for 1962, initially running a Lotus while the first of his design partner Ron Tauranac's creations was completed.

It would be his initial team-mate Dan Gurney who took the Brabham team's first wins, but in 1966 a run of four mid-season victories set Brabham up for his third and final F1 crown, this time in his own car - a so far unique achievement. The Brabham team also won constructors' titles in both 1966 and '67.

Brabham retired at the end of the 1970 season, which he had begun with a 14th and final GP win at Kyalami, selling the team at the same time.

While his eponymous squad went on to further title successes with Nelson Piquet under Bernie Ecclestone's ownership, Brabham was able to watch his three sons Geoff, Gary and David embark on highly successful motorsport careers in their own right.

Grandsons Matthew and Sam have also commenced single-seater racing careers in recent seasons.

"It's a very sad day for all of us," said David Brabham. "My father passed away peacefully at home at the age of 88 this morning.

"He lived an incredible life, achieving more than anyone would ever dream of and he will continue to live on through the astounding legacy he leaves behind."

A full obituary will follow and further coverage of Sir Jack Brabham's life and career will follow

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GT: WRT Audi's Vanthoor on Brands pole

By Gary Watkins

Saturday, May 17th 2014, 18:07 GMT

WRT Audi driver Laurens Vanthoor snatched pole position for the first of Sunday's two Blancpain Sprint Series races at Brands Hatch

You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.

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DTM: Molina disqualified, Wittmann on pole

By Andrew van Leeuwen

Saturday, May 17th 2014, 20:20 GMT

Miguel Molina has been stripped of his pole position for the second DTM race of the season at Oschersleben

You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.

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INDY: Carpenter tops day one of qualifying

By Mark Glendenning

Sunday, May 18th 2014, 01:46 GMT

Ed Carpenter took a step towards a second consecutive Indianapolis 500 pole after setting the top speed on Saturday's opening day of qualifying

You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.

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Friday Links

NEW YORK (CNNMoney)

A weekly collection of design, data and interactive links.

Design/Data viz
The Day's Color | A daily color digest
Tyler Vigen | Spurious Correlations
Coconoe | Japanese interactive design
Discover.typography | Portfolio of fonts with suitable applications
Hatsuyama Shigeru | 1928--36 Kodomo No Kuni illustrations
Inferno | Sharp animated visuals
Leo's Fortune | A platform adventure game
Tiny PMS Match | Everyday objects matched to Pantone chips

Photo/Video
Godzilla Kaiju | Every Godzilla Kaiju
Early Colors | Photo blog by Valtteri Laihanen
Floating City | Concept by AT Design Office features underwater roads and submarines
Stranded on the Roof | One of the most remote landscapes on Earth
Batman Evolution | The evolution of Batman's costume in film and TV

See last week's links

Have a nice weekend!
@dubly and @talyellin

First Published: May 16, 2014: 3:34 PM ET

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Make your desk impress

(Money Magazine)

Appearance matters -- and in the corporate world, that applies to your desktop as much as your dress attire.

"Your space speaks to your work mentality, creativity, and organizational skills," says Sam Gosling, a psychology professor at the University of Texas at Austin and the author of Snoop: What Your Stuff Says About You.

Related: 5 ways to reduce your financial anxiety

And with 70% of American employees now working in open-plan offices, as the International Facility Management Association reports, desktops are more in the public eye than ever. Ensure that yours sends the right message.

1. Show some of your colors

Research has found that employees tend to be more productive when they can express their personalities, Gosling says. So make your area your own. But be wary of over-personalizing—lining the walls with team pennants or your kid's artwork, for example—as this can tarnish your professional image. Limit yourself to seven personal items, suggests Washington, D.C., career counselor Karen Chopra.

2. Minimize paper ...

A messy desk could make your manager question your attention to detail or efficiency, says Julie Morgenstern, author of Organizing From the Inside Out. Worse yet if your mess keeps you from quickly producing documents upon request.

To help reduce the paper you keep, make a cheat sheet defining "trash" vs. "save" items -- simply writing that list can be instructive -- and post it up as a reminder.

Next, create a system to organize "saves." Not a filer? At least put them in themed piles in labeled bins.

3. ... But leave a little clutter

While untidiness is unbecoming, there's also a downside to being too neat. "People will wonder when you do any work," says Chopra.

Related: How we feel about our finances

Plus, you may impede your creativity: A recent study at the University of Minnesota found that a disorderly environment stimulates innovative thinking.

The right balance? Make sure at least two-thirds of your desk is visible, says Morgenstern.

4. Have a talking piece

Being able to click with your boss determines your ability to leverage the relationship. So display something that could start a nonwork conversation, suggests Alan Hedge, a Cornell professor who studies the effects of office design on workers.

Related: How to get in trouble in your 401(k)

That may be an interactive or interesting object (like your Google Glass) or a photo showing a shared interest (you on the slopes if the boss skis).

5. Hide evidence of lunch

Six in 10 Americans regularly eat at their desks, the American Dietetic Association found. Sound familiar? Keep cleaning spray handy. And trash takeout containers promptly.

When clients visit the office, Hedge says, "your boss wants it to look like a work area, not a cafeteria."

First Published: May 16, 2014: 7:03 PM ET

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Where could you get $25 minimum wage?

LONDON (CNNMoney)

Labor unions have been campaigning for months to win public backing for a minimum hourly wage of 22 Swiss francs, or nearly $25.

The Swiss government and business leaders have warned that the initiative would destroy jobs, hurt lower skilled employees and make it harder for young people and others to enter the workforce.

"The proposed statutory minimum wage would be the highest in the world, by some margin," the Swiss economics ministry said in a statement. "Consequently, those who would suffer most from the initiative are those it is supposed to benefit."

Related: Washington state defies minimum wage logic

Switzerland is a wealthy country, enjoying above average rates of growth and employment and relatively short working hours. The average household has net disposable income of about $30,000, compared with the average of $23,000 in the OECD, a group of 34 of the world's strongest economies.

But OECD figures also show a considerable gap between rich and poor -- the top 20% of the population earn nearly five times as much as the bottom 20% -- and anger at growing inequality has been increasing.

Unlike many advanced economies, Switzerland does not have a statutory national minimum wage. Pay is set in negotiations between companies and individuals, or with employee representatives -- sometimes across industrial sectors.

Related: 'My boss doesn't rule my destiny'

Based on a World Bank conversion rate, 22 francs per hour would be equivalent to roughly $17.60 in the United States once the difference in cost of living is taken into account. That would put Switzerland comfortably at the top of the international minimum wage league.

Only Germany would come close to paying similar rates. Europe's biggest economy will introduce a national minimum wage next year for the first time, at 8.50 euros an hour. That's worth about $15 in the U.S.

Swiss unions say it's a disgrace that 330,000 mainly young workers and women in one of the world's richest countries don't earn enough to support a decent quality of life.

Related: Global fast food workers protest

Backing the initiative would mean raising the wages of about one in every 10 workers by an average of 15%. That would add 1.6 billion francs, or about 0.3% of GDP, to the country's total wage bill -- a price campaigners say Switzerland can afford. Germany's new minimum wage will mean increases for 16% of workers.

Switzerland's constitution allows popular initiatives to be put to a national vote four times a year, provided the organizers gather 100,000 signatures in support. In order to force a change in the law, the initiative needs to be approved by a majority of the electorate and the country's 26 cantons, or districts.

Recent opinion polls suggest the measure will be defeated. But Swiss voters have the capacity to spring a surprise, as they did in February by approving limits on immigration despite warnings of damage to relations with the European Union and business.

A popular initiative to give shareholders more control of executive pay won clear backing from voters in March 2013, although a more radical attempt to cap top salaries at 12 times the lowest paid employee's was rejected by a big margin in November.

First Published: May 16, 2014: 9:47 AM ET

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Why are bond yields so low?

Bond yields have fallen sharply this year even though many experts thought they would rise due to Fed tapering.

NEW YORK (CNNMoney)

The yield on the benchmark 10-year Treasury tumbled below 2.5% this week for the first time since Halloween. Many experts had been predicting at the start of the year that rates would go up.

Bond yields have been driven down by a confluence of factors, ranging from tame inflation and slow global growth to aggressive central bankers around the world and even Vladimir Putin.

Little inflation = lower rates

The lack of a serious inflation threat may be the biggest reason why long-term rates have been falling.

"Lower inflation leads to lower rates and a stronger stock market. It's good all around," said John Krey, international investment analyst at S&P Investment Advisory Services.

The thinking is that the low bond yields will keep the pressure off the Federal Reserve to hastily withdraw monetary stimulus and hike short-term rates, which have been near zero since the depths of the 2008 financial crisis.

"Inflation is the number one evil of bond investors. But inflation is not a concern in the near term," said Brian Rehling, chief fixed income strategist at Wells Fargo Advisors, which manages about $1.4 trillion in assets.

Related: Don't blink: Stocks race past milestones

The move lower in Treasury yields gathered momentum this week amid reports that Germany's central bank has blessed more aggressive monetary stimulus from the European Central Bank. An ECB rate cut should boost demand for U.S. debt and lower yields even further.

But some experts weren't sure why the bond market shrugged off stronger-than-expected inflation data from businesses as well as upbeat figures on jobless claims and manufacturing growth. A healthier economy usually leads to higher rates.

"It's difficult to reconcile. Either the 10-year Treasury is signaling it's not buying better economic growth or it just doesn't care," said Mark Luschini, chief investment strategist at Janney Capital.

Bond investors have concluded that central bankers are going to follow a "glacial" path to higher rates, Luschini said.

Investors have been caught off guard by the recent move lower in rates and some experts are now revising their targets for where the 10-year yield will finish 2014.

Wells Fargo Advisors recently trimmed its year-end target for the yield on the 10-year Treasury to 3.25% from 3.5%. But that's still a far cry from Friday's yield of 2.51%.

The Putin effect

Few foresaw the role that Putin would have in keeping a lid on rates. Global jitters have frayed investor nerves, especially Russia's annexation of Crimea and ongoing tension with Ukraine. During times of geopolitical uncertainty, U.S. government debt clearly remains the go-to spot for investors.

"There is a good deal of concern that the situation in Ukraine could heat up rather uncontrollably and tear the country apart," said Krey.

Related: Ukraine crisis starts to hit European firms

At the same time, China has been flexing its own muscles in Southeast Asia, picking territorial fights with Japan and Vietnam.

Meanwhile, investors are no longer fearing the collapse of the euro, allowing bond yields in previously-embattled eurozone countries to plunge. For example, the yield on Spain's 10-year debt is now below 3%.

Investors have decided U.S. debt is still relatively attractive, especially given the lower risks and increased liquidity Treasuries provide, said Randy Frederick, managing director of trading and derivatives at Charles Schwab.

Related: Wall Street 'experts' pick loser stocks

So what does this all mean for investors and consumers?

Relatively low Treasury yields should continue to support stock prices because they force investors to search for higher returns elsewhere. Stocks are often an obvious choice, especially companies that pay large dividends.

According to S&P Dow Jones Indices, there are now 148 S&P 500 stocks with dividend yields above 2.5%.

Low yields can also help the economy by reducing borrowing costs for businesses. And the recent pullback in rates can also help consumers, particularly those who are looking to buy a home or already own one.

Mortgage rates should fall if long-term bond yields stay around their current level or dip further. That makes it more affordable for consumers to take out new mortgages and also could lead to an increase in refinancing by homeowners.

First Published: May 16, 2014: 1:09 PM ET

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Red Lobster being sold for $2.1 billion

NEW YORK (CNNMoney)

Golden Gate may be able to inject some new life into Red Lobster, but the deal is likely to rile up Darden (DRI, Fortune 500) investors. The company's shares fell 4%.

Some hedge funds have criticized Darden for how it is handling Red Lobster. Darden originally planned to spin-off the seafood restaurant chain as a separate publicly traded company before deciding to sell Red Lobster to Golden Gate. The sale is not subject to shareholder approval, Darden said.

Starboard, which owns 5.5% of Darden, said the sale to Golden Gate "woefully undervalues Red Lobster and its real estate assets." Starboard CEO Jeffrey Smith said it's "truly unbelievable" that Darden directors have the "audacity" to negotiate a sale in spite of shareholder opposition.

"Our suspicions all along have now unfortunately been confirmed -- this sale is the wrong transaction, at the wrong time, for the wrong reasons," Smith said.

Another hedge fund, Barington Capital, had been pushing to break Darden into two separate companies -- one with the mature Olive Garden and Red Lobster brands and the other with faster-growing chains like LongHorn Steakhouse. Barington also wanted Darden to retain control of Red Lobster's valuable real-estate assets.

Barington CEO James Mitarotonda said it is "unconscionable" for Darden to agree to sell Red Lobster for what amounts to a "fire sale price" in the face of shareholder demands for a say on a transaction.

Darden expects the sale to Golden Gate Capital will generate $1.6 billion after taxes and transaction costs, money the company plans to deploy to pay down debt, buy back stock and continue paying its dividend.

Red Lobster's new private equity overlords will face a tough task as they attempt to revitalize the business. But because Red Lobster won't be publicly traded anymore, Golden Gate can avoid harsh scrutiny from Wall Street. One person familiar with the deal noted that a Red Lobster spin-off would have been a hard sell to investors.

"The reality is this business is declining pretty rapidly. That's a tough story as a public company," the source said.

Related: Fast-food workers go on strike across the country

Red Lobster's same-store sales in the U.S. tumbled 8.8% during the first three months of 2014, worse than the 5.4% drop at Olive Garden.

But Josh Olshansky, managing director at Golden Gate Capital, said in a statement that "Red Lobster is an exceptionally strong brand with an unparalleled market position in seafood casual dining."

Golden Gate did not announce plans to close any of Red Lobster's 700 stores and the private equity firm declined to comment on the matter. However, the person familiar with the matter said store closures are likely, though not at a "dramatic" scale.

Click image for more data

By cutting Red Lobster loose, Darden will now be able to zero in on fixing Olive Garden.

"All of the turnaround focus can be 100% on Olive Garden rather than fighting a war on multiple fronts," said the person familiar with the matter.

To pay for the acquisition of Red Lobster, Golden Gate received an undisclosed amount of financing from Deutsche Bank, Jefferies and GE Capital. It also did a $1.5 billion sale-leaseback deal with American Realty Capital Properties (ARCP) for more than 500 Red Lobster properties.

Darden said it contacted about 70 possible strategic and financial suitors for Red Lobster beginning in December. The company said it also contacted about 25 potential real estate buyers

First Published: May 16, 2014: 9:37 AM ET

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