Agag Says Honda’s F1 Exit Is Bad News for All Motorsport | Technology News

LONDON (Reuters) – Honda’s exit from Formula One at the end of next year is bad news for all motorsport, the founder of the electric Formula E series Alejandro Agag said on Friday.

The Japanese carmaker, which quit as an F1 constructor in 2008 but returned as an engine manufacturer in 2015, said it wanted to focus on zero-emission technology such as fuel cells and batteries.

The decision leaves Red Bull Racing and sister team AlphaTauri seeking engines for 2022 with only three manufacturers — Mercedes, Renault and Ferrari — remaining in Formula One.

Agag, whose city-based series has attracted strong manufacturer interest and enjoys full FIA world championship status, played down a suggestion that Honda’s move strengthened Formula E.

“I see it as bad news for motorsport in general. I don’t see this as good news for Formula E and bad news for Formula One,” the Spaniard, who is

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A Wall Street strategist says it’s time to exit tech stocks, and recommends 3 sectors that are cheaper and steadily improving


 

  • Steven DeSanctis of Jefferies told CNBC on Tuesday that many large technology stocks are getting “pricey” and investors should look for alternatives in other sectors. 
  • “At nine times revenue, 10 times revenue, it gets a little pricey, and with that any bad news will actually be a huge detriment to these stocks,” the equity strategist said, referring to technology stocks. 
  • He recommends investors buy stocks in industrials, consumer discretionary, and materials sectors as alternatives to technology.

Steven DeSanctis, Jefferies equity strategist, told CNBC on Tuesday that many large technology stocks are getting “pricey” and there are cheaper alternatives that investors can buy now.

“At some point you have to say what is too high,” DeSanctis said, referring to tech stock valuations. “At nine times revenue, 10 times revenue, it gets a little pricey, and with that any bad news will actually be a huge detriment to

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