F1 racer Lewis Hamilton has been stirring rumors of buying a Sunseeker 90 Yacht which is being finished in Portland, Dorset.

They said he was painting the 90-foot yacht black and silver silver to match his McLaren racer. The Sun even has a picture of the sleek black ship.

But Hamilton, on the contrary, seems to be denying all reports of having bought the Super Yacht worth £5million ($7million).

While all eyes and focus were on another historical feat as British F1 driver Lewis Hamilton won the 2008 F1 Drivers Championship, becoming the first black and youngest ever winner of the sport, Ferrari quietly celebrated their 16th Constructors title with the announcing of their Ferrari F430 16M.

By Ferrari’s accounts this will be the fastest open-top car ever from the Italian sports car giant, gaining a number of weight advantages over the regular F430.

The entrants for the 2008 Design Los Angeles Challenge have been officially released, with the Mercedes-Benz Advanced Design Center of North America unveiling the Formula Zero.

Built around the theme of motor sports racing in the year 2025, the Formula Zero concept aims to combine “the thrill of Formula One, the track dynamics of the bobsled or luge, and the grace and efficiency of yacht racing.”

Reminiscent of the Mercedes Benz racing heritage of the 1930′s, the Mercedes Formula Zero Racer concept is loaded with technology designed to extract the maximum thrust from the electric hub motors, aero-efficient solar skin and high-tech rigid sail.

TrekStor, a leading manufacturer of high quality audio players, external hard disks and USB sticks, received in 2007 an order from Russian-Canadian billionaire and owner of the Midland Formula 1 team, Alex Shnaider, to develop the world’s most expensive MP3 player so he could then auction it off to raise money for Cancer Research.

This luxurious piece of jewelry, features 18-karat gold casing and 63 diamonds that together make up 1-karat, which leaves us with one hefty price tag of $20,000. The player is also embellished with a small chain that includes aquamarine gems.

Jewelers Wenthe in Mannheim/Germany put over 100 hours of pains-taking handiwork into the exquisite gadget. It features 1GB of storage, and has dual headphone jacks.