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Designer Paul Smith launches exhibition

DESIGN GURU Sir Paul Smith has given a glimpse into his world with a re-creation of his office forming part of a new exhibition dedicated to his work. The fashion star takes centre-stage at the Design Museum in London for the next four months with items from his vast archive on display. Sir Paul was at the launch today, posing alongside colourful life-size cardboard cut-outs and showing off sketches, designs and other paraphernalia from his lengthy career as one of Britain's best-known creative forces.

Ferrari posts huge profits - by building fewer cars

AP Ferrari today announced an 8% jump in trading profits to €363.5 million in 2013 - despite selling 5% fewer cars. It's all part of the supercar maker's planned reduction in supply to keep values and demand for Ferraris rock-solid, Maranello reported. Turnover and profit all surpassed previous records, despite the reduction in the number of cars built.

The fall and rise of the budget car

Twenty years ago, the classic bargain brands like Lada seemed to be going the same way as the Soviet empire that spawned them. Woefully dated and badly made, only a weirdo would have bought a new Lada rather than a second-hand model from Ford, Vauxhall or VW. However, one of the big trends in the car industry today is the re-emergence of bargain cars.