Business
Carlyle to partner with Red Bull F1 team as private markets look to build brand awareness
Max Verstappen of Red Bull Racing competes during the British Grand Prix, the 12th round of the Formula 1 World Championship, at Silverstone Circuit in Northampton, United Kingdom, on July 06, 2025.
Rasid Necati Aslim | Anadolu | Getty Images
Carlyle is set to announce a new partnership with Formula 1 team Oracle Red Bull Racing as private markets firms aim to ramp up their exposure to the high-net worth and retail investor cohorts, CNBC has learned.
The agreement will plaster Carlyle’s branding on Red Bull’s RB21 challenger, drivers’ team kits, the pit wall and the garage, the two companies said Tuesday. Financial terms of the deal were not disclosed.
“Our industry is undergoing an extraordinary transformation, fueled by greater access to private markets and growing interest from a new generation of investors,” Carlyle CEO Harvey Schwartz said in a statement. “We’re excited to partner with one of the most illustrious brands in global sport to engage new audiences and create long-term value together.”
F1 teams have been raking in sponsorship dollars as the league soars in popularity. Last year, the teams generated a combined $2 billion in sponsorship revenue, according to a recent report by SponsorUnited. That surpassed every league except for the NFL, according to the report. And F1 generated the highest average sponsorship deal size at $6 million last year, which was about eight times the average for the NFL.
The private markets industry has been inking partnerships — particularly with certain sport franchises — in order to bring more brand awareness to firms as the industry evolves toward funding from individual retail investors. Other firms, such as Apollo and Blue Owl, have pursued sponsorship deals within professional golf and tennis.
Wealth has been one of the fastest-growing areas within Carlyle, raising more than $60 billion since inception and nearly doubling the segment assets under management in two years. In the release, Carlyle said it’s Red Bull’s exclusive partner in the investment management industry and that their alliance is the first between an F1 team and a “major global private markets firm.”
“As an iconic firm in global finance, Carlyle brings a long-term perspective with an expansive network, and we look forward to building a powerful partnership on and off the track,” Laurent Mekies, Oracle Red Bull racing CEO and team principal, said in the release
The SponsorUnited report said the technology sector drove the most F1 team sponsorship revenue, contributing $543 million. Financial services came in second, with $379 million, the report showed. AIX Investment Group recently sponsored driver Pierre Gasly for the 2025 season, featuring its logo on the side panel of his helmet.
Business
UPS stock soars on third-quarter earnings beat, turnaround plan
A UPS worker pushes a cart in New York, US, on Monday, Oct. 27, 2025.
Michael Nagle | Bloomberg | Getty Images
United Parcel Service on Tuesday reported earnings that topped Wall Street’s estimates ahead of its busy holiday season.
Shares of the package delivery giant surged 10% in premarket trading.
Here’s how the company performed in its third quarter, compared with what Wall Street was expecting based on a survey of analysts by LSEG:
- Earnings per share: $1.74 adjusted vs. $1.30 expected
- Revenue: $21.4 billion vs. $20.83 billion expected
For the period ended Sept. 30, the company reported net income of $1.31 billion, or $1.55 per share, compared with $1.99 billion, or $1.80 per share, the year prior. Adjusting for one-time items, including costs of its transformation strategy, the company reported profit of $1.48 billion or $1.74 per share.
UPS estimates its fourth quarter revenue to be $24 billion with an operating margin of 11% to 11.5%.
The company also on Tuesday laid out details of its previously announced turnaround plan and said it cut its workforce by 34,000 jobs, greater than its previous estimate of 20,000, as part of its plan to trim down its work with Amazon, previously its largest customer.
UPS also initiated a sale-leaseback transaction in the third quarter for five properties as part of its broader strategy, which resulted in a $330 million pre-tax gain on sale in its supply chain solutions division. It said Tuesday that it has now closed daily operations at 93 leased and owned buildings through September as part of the initiative.
UPS said its turnaround plan has resulted in $2.2 billion in savings through the end of the third quarter, with an estimate of achieving $3.5 billion total year-over-year cost savings in 2025.
“We are executing the most significant strategic shift in our company’s history, and the changes we are implementing are designed to deliver long-term value for all stakeholders,” CEO Carol Tomé said. “With the holiday shipping season nearly upon us, we are positioned to run the most efficient peak in our history while providing industry-leading service to our customers for the eighth consecutive year.”
The courier’s strong results come as the parcel industry faces a volatile tariff environment and sluggish demand, in addition to impacts from the end of the de minimis loophole. Rival FedEx said last month that it incurred $150 million in headwinds from the global trade environment.
Business
PayPal signs deal with OpenAI to become the first payments wallet in ChatGPT
Alex Chriss, CEO of PayPal Inc.
Courtesy: PayPal
PayPal has signed a deal with OpenAI to have its digital wallet embedded into ChatGPT so users can pay for items found through the leading consumer AI tool, the company told CNBC exclusively.
The agreement, sealed over the weekend, means that starting next year, both sides of PayPal’s ecosystem can plug into ChatGPT: PayPal users can purchase items through the AI platform, and its merchants can sell on it, with their inventory listed there, according to PayPal CEO Alex Chriss.
“We’ve got hundreds of millions of loyal PayPal wallet holders who now will be able to click the ‘Buy with PayPal button’ on ChatGPT and have a safe and secure checkout experience,” Chriss said in an interview.
The move makes PayPal an early part of OpenAI’s efforts to broaden ChatGPT’s use for e-commerce. The thinking is that its 700 million-plus weekly users can lean on artificial intelligence to help them find items, similar to a human personal shopper. Last month, OpenAI said its users could buy from Shopify and Etsy merchants, and two weeks ago it announced an e-commerce deal with Walmart.
“It’s a whole new paradigm for shopping,” Chriss said. “It’s hard to imagine that agentic commerce isn’t going to be a big part of the future.”
PayPal is attempting to position itself as a payments backbone for the coming era of agentic AI shopping, announcing recent deals with Google and artificial intelligence firm Perplexity. The fintech firm issued a release on its OpenAI deal Tuesday.
The company will also manage merchant routing, payment validation and other behind-the-scenes aspects of payment processing for PayPal sellers on ChatGPT, so individual merchants don’t have to sign up with OpenAI, the firm said.
Chriss touted the fact that both consumers and merchants have been verified by the fintech firm, reducing the risk of fraud for either group. Users can pull funds from linked bank accounts or credit cards, or stored balances, to pay for purchases, and they’ll get protections, package tracking and dispute resolution.
“It’s not just that a transaction can happen,” Chriss said. “It’s that this is a trusted set of merchants, the largest merchant network in the world from PayPal, that are verified, with the largest set of verified consumers in a consumer wallet.”
PayPal also said it is expanding the use of OpenAI’s enterprise AI products for its employees to speed up product cycles.
Business
Car headlights to be reviewed after drivers complain of being ‘blinded’ at night
Katy Austin,Transport correspondent and
Lucy Hooker,Business Reporter
EPACriticism from drivers over the dazzle from oncoming headlights has prompted the government to take a closer look at the design of cars and headlamps on UK roads.
Drivers say LED headlamps, which are increasingly common in new vehicles, are causing them problems and making it harder to drive at night
Research into the issue on behalf of the Department for Transport (DfT) has still not been published, but the BBC has learned that the government now plans to launch a new assessment of the causes and remedies.
New measures will be included in the government’s upcoming Road Safety Strategy, reflecting what is becoming an increasingly fraught issue for road users.
Both Ruth Goldsworthy and Sally Burt say bright headlights make it harder for them to get to their weekly SO Sound choir meetings in Totton, in Hampshire.
“Some of the lights are so bright you are blinded by them, for seconds,” says Ruth.
The beam from LED headlights is whiter, more focused and brighter than the more diffuse light from halogen lamps fitted in older cars.
“I’m not sure where to look, I look into the gutter,” says Sally. They are both relieved if someone else offers to drive.
Evening driving becomes a bigger problem as the winter evenings draw in, and especially after the clocks change, which means more people are driving in the dark.
The problem is worse for older people, whose eyes take around nine seconds to recover from glare, compared to one second for a 16-year-old, according to road safety consultant, Rob Heard.
“In severe cases, we might need to stop until our sight can recuperate,” he said.
A survey from the RAC motoring organisation found that more than a third of drivers were nervous about getting behind the wheel as the evenings get darker. Three quarters of respondents said driving was getting more difficult due to brighter lights.

The RAC’s senior policy officer, Rod Dennis, said so far little progress has been made on tackling glare, with regulations governing headlights dating back to 1989.
A Department for Transport spokesperson said: “We know headlight glare is frustrating for many drivers, especially as the evenings get darker.”
What to do in the face of brighter headlamps:
- Ensure your windscreen is clean
- Wear glasses and keep them clean
- Avoid looking straight ahead, instead focus on the edge of the road
- Do not wear night sunglasses sold for night-driving, as they reduce overall light and won’t reduce glare.
Source: College of Optometrists
New research
The results of last winter’s government commissioned research into the “causes and impact of glare” have been delayed since the summer but are now expected in the next few weeks, the DfT said.
They will inform the upcoming Road Safety Strategy, which is also expected to tighten rules on drink-driving and eye-sight tests for older drivers.
The BBC understands the government is commissioning new research into the role of vehicle design in causing glare, and possible solutions, which will feed into international discussion of the issue.
Getty ImagesOne already well-understood source of glare is drivers retrofitting their vehicles, replacing old halogen bulbs with LEDs.
The housing for halogen bulbs is not compatible with LED bulbs, and a retrofitted car will not pass its annual MOT check-up.
As part of the government’s new approach the Driver and Vehicle Standards Agency has “stepped up surveillance” to stop the sale of illegal retrofit headlamp bulbs, the DfT said.
Seeing better
Cars sold with LED lights can improve road safety, Thomas Broberg, senior adviser for safety at Volvo told the BBC.
“Headlights have become brighter over the years to help drivers see better,” he said.
However, avoiding dazzle was “equally important”, he said.
“I would say poor aiming of the headlights and also the road shape are the major factors for glare,” he said.
For larger vehicles, such as SUVs, where lamps are higher off the ground, there is a requirement for the beam to point more sharply downwards, to protect oncoming drivers. But the angle can be affected by how many passengers it is carrying.
Some new cars with “adaptive features” adjust the lamps automatically if there is a change in load, but cars without that will need manual adjusting, Mr Broberg said.
Some new cars also have automatic headlamp dipping, which lowers the lights when an oncoming vehicle is detected.
Getty Images/Stephen Robinson PicturesHowever, Daniel Harriman-McCartney, clinical advisor at the College of Optometrists, said automatic dimming features can be “slow to kick in”.
“If it only works when the car is closer than it needs to be, or doesn’t work for cyclists, that can be a problem,” he said.
He is seeing an increasing number of patients concerned about headlamp glare, he added.
Dazzling headlights are cited as a factor in around 250 accidents a year, but there is no evidence that brighter lights are causing more collisions than previously, the RAC concedes.
Instead, worried drivers may simply be “taking the risk off the road” by not driving at night, with a big social impact, the RAC’s Mr Dennis warned.
He would like to see action that “strikes a balance”.
“We don’t want to go back to worse headlights. It is about what is bright enough.”
-
Fashion1 week agoChinese woman charged over gold theft at Paris Natural History Museum
-
Tech7 days agoThis Smart Warming Mug Is Marked Down by $60
-
Fashion1 week agoeBay UK seller fee removal sends revenue down but profits rise
-
Entertainment7 days agoJohn Grisham unveils his first-ever mystery, “The Widow”
-
Tech1 week agoEaster Island’s Moai Statues May Have Walked to Where They Now Stand
-
Sports1 week agoIs Mount the answer to what Amorim’s trying to do at Man United?
-
Tech1 week agoOpenAI has slipped shopping into ChatGPT users’ chats—here’s why that matters
-
Business1 week agoDhanteras Engine Fires Up Auto Market: Over 1 lakh Cars Delivered In 24 Hours

