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Fiat Chrysler denies rumors that Ferrari SpA is moving to London

It seems that reports of Ferrari's relocation to London have been somewhat exaggerated. The past few days have seen more than a few stories on the legendary Italian brand's decision to move its tax base out of Italy, and now Fiat Chrysler is speaking out against the scuttlebutt. "These rumors have no grounds," FCA said in a statement obtained by Reuters. "There is no intention to move the tax residence of Ferrari SpA outside Italy, nor is there any project to delocalize its Italian operations, which will continue to be subject to Italian tax jurisdiction." Ferrari's move to London was based on two beliefs. First, that the company would benefit from being located nearer the investor community, should it be listed on a European exchange. FCA, though, said a European listing was only a "possibility," according to Reuters. Instead, the company will be listed on an American market. Aside from the move to benefit investors, it was believed Ferrari was looking to relocate to escape Italy's more oppressive corporate tax rate, which sits around at 31.4 percent, compared to the UK's 20 percent, Bloomberg reports. This denial by Fiat Chrysler, though, should be enough to close the book on Ferrari leaving Italy, no matter how much sense it might make. Related Video:

Ferrari 458 Speciale Spider will make Paris debut

The news out of Ferrari is coming nearly as fast as its wonderful sports cars, as of late, with CEO Luca di Montezemolo stepping down and a special model for America upcoming. Now, it's looking increasingly likely that the 458 Speciale Spider is making its world debut at the 2014 Paris Motor Show in early October, confirming earlier rumors.
Di Montezemolo had already confirmed that the Prancing Horse would unveil a new car in Paris, but exactly which model it would be had been a mystery. However, an unnamed Ferrari insider has recently confirmed to 4WheelNews that it would be the droptop Speciale.
As the name suggests, the special model takes the sonorous 4.5-liter V8 engine from the 458 Speciale with 597 horsepower and 398 pound-feet of torque and drops it into the convertible hardtop from the Spider. According to the source, the special Ferrari is also getting new wheels, stripes and seats, but the folding top might mean losing the coupe's transparent engine cover.

Watch how fans honored Michael Schumacher on his 45th birthday outside his hospital

Michael Schumacher remains in a medically induced coma six days after a skiing accident in the French Alps. While the racing legend spent his 45th birthday in the hospital, listed in stable but critical condition, racing fans from all over Europe descended upon the clinic in which he lies in Grenoble, France, to pay their respects.
The event was arranged by Ferrari, the manufacturer with which Schumacher is most often associated after winning 72 individual races for the Italian marque between 1996 and 2006. In total, Schumacher won 91 races, stood on the podium 155 times and won seven F1 Driver's Championships over the course of his illustrious 19-year career.
Schumacher's family was deeply touched by the outpouring of support and has issued a short statement thanking Ferrari fans for their "incredible sympathies." We've gathered a few videos together showing scenes of support from outside the hospital, and you can see them, along with the family's official statement, below.