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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:

Man orders LaFerrari for wife, dies before seeing gift delivered [w/video]

Ferrari has been profiling some of the 499 buyers of the LaFerrari in its official magazine, and the latest issue features Austrian-born Swiss artist Cornelia Hagmann. Her husband and Ferrari collector Walter Hagmann ordered a Rosso Corsa example of the supercar for Cornelia, but Walter passed away slightly more than a year ago, before it could be delivered. There's no reason to doubt that, as Ferrari says, her husband's gift is the car closest to her heart. The video above captures some behind-the-scenes moments during the photo shoot for the magazine, and there's a press release below with a few words about the article. We've also included a video below about another Swiss citizen, Ferrari collector, and LaFerrari buyer, Albert Obrist, whose love affair with the brand began when he went to the Grand Prix of Switzerland in 1951. An encounter with an artist and the car closest to her heart Maranello, 2th January 2015 – Cornelia Hagmann is an Austrian-born painter and sculptor that has made Switzerland her home for many years. Her wonderfully rich paintings are mostly of landscapes sumptuous with greenery and flowers. She does, however, have a second great passion: for Ferrari. This enduring fascination was sparked by her late husband, Walter Hagmann, a Swiss businessman and leading Ferrari collector, who unfortunately passed away a little over a year ago before the delivery of the magnificent Rosso Corsa LaFerrari he had ordered as a gift for his wife. In an interview with The Ferrari Official Magazine, Cornelia talks not just about her art but also her love of speed and the Prancing Horse. Plus, of course, her LaFerrari: "It's a real work of art: I could spend hours just staring at it...." This video features a few moments from the photo shoot that accompanies the interview.

1954 Ferrari 375-Plus sells for record $18 million at Goodwood

Among all the action at the Goodwood Festival of Speed this past weekend, Bonhams held its classic car auction, bringing in a massive $38.4 million in sales. And this was undoubtedly the highlight.
Bearing the chassis number 0384 AM, this 1954 Ferrari 375-Plus has a storied racing history, competing that year in such events as the 24 Hours of Le Mans, the Mille Miglia and the Silverstone endurance race, where the late José Froilán Gonzalez drove it to victory. One of only five made, the 375 Plus packed a 4.9-liter V12 with 330 horsepower under aluminum barchetta bodywork by Pininfarina. It was subsequently owned by Kleenex scion Jim Kimberly, trading hands between owners on both sides of the Atlantic and was the subject of a legal dispute over its ownership four years ago.
With the dispute now resolved and after heated competition between two bidders, the Ferrari finally sold for £10.7 million, equivalent to $18.2 million at today's rates and accounting for nearly half of the day's sales totals. Other highlights included a 1902 De Dietrich 16-HP "Paris-Vienna" Rear-Entrance Tonneau and a a '75 Lamborghini Countach, each of which sold for around $1.7 million - the latter eclipsing the example that Bonhams also recently sold for $1.2 million.