Motor racing

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John Barnard, the Formula One designer, has signed an agreement with Ferrari to take over the design and development company they set up together in 1992. The company, still based in Guildford, will be known as B3 Technologies Ltd.

Lola, the Formula One team who had to withdraw from last month's Brazilian Grand Prix because of their financial position, have until 28 April to find a buyer and avoid liquidation. The main car manufacturing section of the business, Lola Cars Ltd, is not affected.