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Trainline shares accelerate on rosier earnings outlook

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Trainline shares accelerate on rosier earnings outlook



Trainline has seen shares surge higher after it boosted its earnings outlook despite a hit from the Government’s move to expand “tap-in and tap-out” contactless payment across more UK stations.

The online ticketing platform notched up an 8% rise in UK net consumer ticket sales to £2.1 billion in the six months to the end of August, thanks to a bounce back in demand for leisure travel and commuting, and as year-earlier trading was impacted by strike action.

But it said it took a hit from the first phase of the Department for Transport’s rollout of the contactless payment network to more stations, allowing passengers to tap-in and tap-out with bank cards and pay the guaranteed best fare available at that time of day.

Consumer revenues were flat at £107 million, it added.

In spite of this, London-listed Trainline – which also has operations across Europe – said it now expects full-year underlying earnings at the top end of its previous guidance, for between growth of 6% and 9%.

Shares in the FTSE 250 firm soared as much as 13% on Thursday morning trading, as it also cheered investors with plans to bolster returns with up to another £150 million in share buybacks.

Jody Ford, chief executive of Trainline, said: “Trainline has delivered a robust performance in the first half and today announces improved guidance for the full-year alongside an enhanced £150 million share buyback programme.”

He added: “Rail liberalisation in Europe continues to demonstrate the value Trainline brings as the pre-eminent domestic aggregator, most recently in south-east France where increased carrier competition between Paris, Lyon and Marseille has driven second quarter sales growth of 34%.”

In the update ahead of interim results in November, Trainline said overall group revenues lifted 2% to £235 million in the first half, as net ticket sales rose 8%.

The firm said it was keeping guidance unchanged for full-year group-wide growth of 0% to 3% for revenues and 6% to 9% for net ticket sales.

Russ Mould, investment director at AJ Bell, said: “The shares had been weak this year amid concerns about new competitive threats in the UK, but the trading update is a reminder that Trainline is a bigger beast.

“France is acting like a rocket for the company’s sales growth and that is helping to offset pockets of weakness elsewhere.

“The overall tone is upbeat and that’s exactly what the market needed to hear to get the share price moving higher again.”



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UPS stock soars on third-quarter earnings beat, turnaround plan

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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.



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PayPal signs deal with OpenAI to become the first payments wallet in ChatGPT

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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.



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Car headlights to be reviewed after drivers complain of being ‘blinded’ at night

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Car headlights to be reviewed after drivers complain of being ‘blinded’ at night


Katy Austin,Transport correspondent and

Lucy Hooker,Business Reporter

EPA A truck, with two cars behind it have bright headlights in the early morning lightEPA

Criticism 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.

Two middle-aged women in jumpers, leaning their heads towards each other for the photo, both smiling broadly.

Ruth Goldsworthy (L) and Sally Burt (R) both say they are put off night-driving by the glare from brighter headlamps

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 Images Close-up of an LED headlight shining in the dark with a blue-white glowGetty Images

LED lamps give off a blue-white light

One 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 Pictures The driver's view out of the front of a car on a dark, rainy night. Inside the car dials on the dashboard are lit up and the rear-view mirror is visible. Through the windscreen you can see blurred oncoming headlights in the distance.Getty Images/Stephen Robinson Pictures

Three quarters of drivers surveyed by the RAC said bright lights were making night driving harder.

However, 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.”



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