HP slams brakes on Formula 1 sponsorship

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In the midst of further financial difficulties, HP announced today that it is ending its sponsorship of the BMW Williams F1 team at the end of the 2005 racing season.

The technology firm gave no reason for the decision to pull out, stating only that now is the "natural moment for HP to conclude our relationship".

HP will continue as principal sponsor of the team until the completion of this year's season.

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