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London, June 19 : The Formula One drivers' championship is in crisis after eight of its 10 teams confirmed they are to form a breakaway series.

The decision will cause the greatest upheaval in the sport's 60-year history.

Following a meeting late in the evening, the eight teams that currently form the Formula One Team's Association, have all declined to enter the F1 for 2010, after a row over budget caps, The Sun reports.

Washington, June 19 : The US military is tracking a flagged North Korean ship suspected of proliferating weapons material, in violation of a UN Security Council resolution passed last Friday.

A ship named Kang Nam left a port in North Korea on Wednesday, and could be carrying missile parts or nuclear materials.

The benchmark indices ended lower for the second consecutive day led by metals, and reality stocks. The weak Asian and European cues also dampened investor sentiments. It was a very volatile session as the Sensex ended lower 257 points at 14,265 after trading in the range of 14630-14118.

Stock market analyst Ashwani Gujral has maintained ‘Buy’ rating on GVK Power & Infrastructure to achieve an intraday target of Rs 50.

According to Mr. Gujral, interested traders can buy the stock with a strict stop loss of Rs 36.

Shares of the company, on Thursday (June 18), closed at Rs 39.60 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 0.15 and 271 respectively. The share price has seen a 52-week high of Rs 50.50 and a low of Rs 10.30 on BSE.

Nottingham, June 19 : Exuberant over rolling over South Africa in the semi-finals of the ICC Twenty20 World Championship at Trent Bridge here, Pakistan captain Younus Khan has expressed hope that his team would be lucky second time around and win the tournament.

Khan said he wanted to win the trophy for the people back home, who have been facing plenty of problems in recent times.

"We want to make people back home happy. Winning the title will mean a lot to them and that will inspire us in the final. One more game and the World Cup will be ours,"The News quoted Khan, as saying.

Lahore, June 19 : Pakistan Defence Minister Ahmad Mukhtar has said that the military offensive in the Swat Valley against the Taliban and other extremists is nearing its end, as the security forces have accomplished their mission.

Mukhtar said the government has achieved its target by sanitizing the militants, and ensuring that they do not return to the valley once again.

He said people, who were forced to flee the region due to the conflict would be able to return to their homes by June 20.