FIA have confirmed that the winning bid for the sole engine supplier title, goes to Cosworth.

The need to cut down the costs of F1 racing is urgent, and especially after Honda's withdrawal announcement, Max Mosley's idea seems to give a solution to that.

Finally the world economic crisis seems to have reached the "magical" world of F1 racing.

Due to the financial problems that many car companies have, the need to cut down the costs is necessary. The first (is it going to be the only one?) team to announce its withdrawal from the sport is Honda.

Renault team, will stay in Formula one for many years, despite their bad appearances in 2007 and 2008 seasons, according to car manufacturer's chief executive Carlos Ghosn. Last year Renault finished third in the constructors championship, and this season is struggling in the 7th place with only 9 points, 60 points behind constructors' leader, Ferrari. All that despite of the fact that the world champion Fernando Alonso is back in the team.

Lewis Hamilton continues giving impresive performances in Monaco, as he made the fastest lap in Thursday's free practice. He admits Monaco is his favourite circuit, and the McLaren team is also goingt well there every year. The team seems promising and in a good situation, and Lewis Hamilton seems able to fight for the pole position and the victory in Sundays race. He made an impressive lap of 1:15.140 seconds, and finished first in the practice. Heikki Kovalainen was fifth after the practice, and satisfied with his running.

Ferrari's Kimi Raikkonen knows that the competition between the three leading teams, Ferrari, BMW and McLAren will be hard in Monaco. Raikkonen who finished a disapointing 8th last year in Monaco, is hoping for a clear race this year.