Top Stories; Carlyle to partner with Red Bull F1 team as private markets look to build brand awareness
Top Stories — Tuesday, September 9, 2025
What is trending in the USA today? Here is Breaking News:
- Carlyle to partner with Red Bull F1 team as private markets look to build brand awareness — CNBC
- Starbucks CEO says coffee chain is 'ahead of schedule' in major turnaround effort after one year — Fox Business
- Trump's agenda, DOGE cuts loom large in Virginia special election to fill vacant House seat — Fox News
Carlyle to partner with Red Bull F1 team as private markets look to build brand awareness
Source: CNBC • Published: 9/9/2025, 4:00:01 PM
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.
Starbucks CEO says coffee chain is 'ahead of schedule' in major turnaround effort after one year
Source: Fox Business • Published: 9/9/2025, 3:31:05 PM
Starbucks CEO Brian Niccol, a year into the job, says the coffee chain is "ahead of schedule" in its turnaround. But the work is far from over — he's betting on an "aggressive" redesign, enhanced rewards program and an array of new food and beverage items to drive momentum and reverse the decline in traffic.
"I think we're really close on the fundamentals. Then what you can do is, once you have the fundamentals in place, you can innovate from a place of strength. And you're going to see us innovate in the menu. You're going to [see] us innovate in our rewards program. You're going to see us innovate digitally. And I'm excited about what all these things provide as far as another layer of growth," Niccol told FOX Business during an interview Monday, adding that the company's new store design will also make it possible for the company to open more locations.
Monday marked exactly one year since the industry titan took on the challenging task of turning around the world-renowned coffee giant. While it's not Niccol's first turnaround, as he helped Taco Bell and Chipotle weather their own storms, he became Starbucks' third CEO in two years, inheriting a company that faced pressure from unionization campaigns across the nation and back-to-back disappointing fiscal quarters as traffic declined a year ago.
Starbucks stores in the U.S. have continued to see a decline in store visits during a time when broader environmental factors have caused consumers to be more mindful of where they spend money. But Niccol emphasized his confidence in the company's trajectory, noting that several initiatives have been rolled out faster than he initially expected, including a new protein menu coming at the end of September and the Green Apron Service model. That service model leverages tools such as its Smart Queue to sequence orders across mobile pickup, drive-thru and café so they don't compete with each other, effectively decreasing wait times for customers.
A remodeled Starbucks in Southhampton, New york. (The Starbucks Coffee Company)
Since introducing the new store model a few weeks ago, Niccol said 80% of Starbucks drinks are now ready in under four minutes, which he noted is a "substantial improvement" from the roughly 60% before the rollout. Mobile orders are now surpassing 95% within that four-minute benchmark, a goal Niccol set soon after taking the helm.
Niccol didn't say whether the company might lower or adjust prices in the near future. Instead, he said that Starbucks is focused on boosting its value proposition for customers. The company's value, he argued, lies in its high-quality coffee with a distinctive coffeehouse experience.
A remodeled Starbucks in New York City. (The Starbucks Coffee Company)
"I think the thing that's really important is we give people the drinks and the experience that they want and in the environment that I think distinguishes Starbucks, right? And that's the coffeehouse environment," he said.
He pointed to the company's access to top beans, its unique Clover Vertica brewing system that delivers freshly ground and brewed coffee and the personal connection customers receive from baristas.
The inside of a redesigned Starbucks with people gathering in a group. (The Starbucks Coffee Company)
Niccol said the company is getting "a lot more aggressive on redoing our coffee houses." That redesign will allow the company to open more locations.
He projected that thousands of locations across the country would be redesigned throughout 2026. There are more than 17,000 locations in the U.S. In 2027, "we'll see if we can go even faster than that… and then the goal is never get behind on this again," Niccol said.
A remodeled Starbucks in New York City. (The Starbucks Coffee Company)
The goal isn't to impose time limits or rush customers in and out. Instead, Niccol is encouraging them to stay a while.
"If we've got a space that you want to stay, then we're doing our job. Because that means our partners are connecting. That means the seat is a good seat," he said. "That means, the vibe is right. And you feel good about Starbucks. You feel good about being a part of the brand. Whatever time you ultimately decide to get up and go, that's on your time."
The new look will feature a mix of oversized chairs, couches, high-tops and regular tables that are designed to offer "a seat for every occasion," according to Niccol.
Niccol said the company is also re-evaluating the size of its stores to lower the company's overhead.
"We're working on getting the building cost to be more cost-effective," he said. "So I think some of that got away from us. We were making the buildings too big. We're putting in unnecessary equipment. When, in fact, what we really needed to do was have a great coffee house with some great seats, staff with the right number of partners, and then set them up with the rate number of labor hours so that they can be in the right position at the right time for those customers."
The inside of a redesigned Starbucks with two people at a high top drinking coffee. (The Starbucks Coffee Company)
If all of those metrics are met, Niccol said Starbucks can build stores that are cheaper to open and more efficient to operate.
Niccol said the company is using technology that sequences orders across mobile pickup, drive-thru and café. In other words, it tells partners which drinks to make when, improving on-time accuracy for mobile orders, especially during peak hours.
Aside from innovating the company's drink menu, Niccol said there is a "real opportunity" for the company to enhance its food offerings, too. While the company is still figuring out what food it will add, Niccol hinted that there will be a "variety when it comes to breakfast sandwiches, afternoon snacks and real biteable" food.
"Obviously on trend right now is more snackable, protein-forward, some gluten-free products," he said. "So I am really excited about what we can do on the food front as well."
At the beginning of the new year, the company is also planning to enhance its rewards program. It is still in the development phase, although Niccol expects it to roll out in early 2026.
"I stand by the fact that we're ahead of schedule, and I'm excited about finishing out this fiscal year really strong and heading into 2026 from a position of strength," Niccol said.
Read the full story at Fox Business.
Trump's agenda, DOGE cuts loom large in Virginia special election to fill vacant House seat
Source: Fox News • Published: 9/9/2025, 3:30:18 PM
FAIRFAX, VA – He's not on the ballot, but President Donald Trump is smack in the middle of Tuesday's special congressional election in the northern Virginia suburbs of Washington, D.C.
The federal jobs cuts implemented by Trump's Department of Government Efficiency (DOGE), crime and immigration, transgender policies, and even the push to release the Justice Department's files on the late convicted sex-offender Jeffrey Epstein are also in the spotlight as voters cast ballots in the Fairfax County anchored district.
James Walkinshaw, the Democratic Party nominee, told Fox News Digital the sweeping and controversial agenda Trump pushed during his first eight months back in the White House will have a "real impact" on the special election in Virginia's left-leaning 11th Congressional District.
Republican nominee Stewart Whitson also says Trump's in the campaign spotlight because of a "lot of the great policies that he's been championing."
The winner will succeed the late longtime Democratic Rep. Gerry Connolly, who died in June after a battle with cancer.
The Republicans currently control the House 219-212, with three seats controlled by Democrats vacant, as well as one held by the GOP. And if Walkinshaw tops Whitson in a district Republicans haven't won in nearly two decades, it will further narrow the GOP's fragile House majority.
In a district that's home to tens of thousands of federal workers and contractors, many voters have been affected by the DOGE implemented job cuts and layoffs.
"Folks in Northern Virginia and Fairfax are feeling the impact of the Trump policies. And I like to say we're kind of on the leading edge of the Trump economy here. Everybody in Fairfax knows someone, probably someone on their street, maybe the parent of their kid's soccer team, who has lost their job because of DOGE or the Trump policies," Walkinshaw said on Election Day eve.
Walkinshaw, a Fairfax County Board of Supervisors member who previously served as Connolly's chief of staff, argued that "if the Trump policies continue, tariffs, the so-called big, beautiful bill, that's going to be the case all around the country. So I think we're on the leading edge of that. And I think voters tomorrow are going to send a statement about that."
Campaign signs for Republican Stewart Whitson and Democrat James Walkinshaw, are seen on Sept. 8, 2025, in Fairfax County, Virginia, on the eve of a special election in Virginia's 11th Congressional District. (Paul Steinhauser - Fox News )
Whitson, an Army veteran and former FBI special agent who oversees federal affairs for a conservative think tank, told Fox News digital that "the people in our district who have lost their job or who are worried about losing their job, they don't need empathy. They need solutions."
He said Walkinshaw is "claiming he's going to fight President Trump and fight the administration. And my pitch to voters in our district is: is that going to help? Is that going to help improve the situation? The answer is no."
"We need someone to represent the people in our district who can work with any administration, whether it's Republican or Democrat," Whitson emphasized.
Pointing to federal workers and contractors who lost their jobs, he said, "I want to find a way to get them back in. I also want to find other economic opportunities for them as well."
While Trump isn't very popular in the district — the president won just 31% of the vote in his White House re-election last year – Whitson said that Trump's polices "center on… common sense."
President Donald Trump, seen in the Oval Office of the White House in Washington, D.C., on Thursday, Aug. 14, 2025, isn't on the ballot in Tuesday's special congressional election in Virginia, but his agenda is dominating discussions on the campaign trail. (Will Oliver/EPA/Bloomberg via Getty Images)
And taking aim at Democrats, he argued, "People in our district are realizing that the radical left has just pushed so far away from common sense… the radical policies they're pushing on our kids behind closed doors, the reckless soft on crime policies that are making us less safe. These are issues that are important to our voters."
Whitson, pointing to the ongoing battle over allowing transgender children to use public school bathrooms in some Fairfax County schools, targeted Walkinshaw.
"My opponent believes it is a civil right for men who identify as girls or women to go into our girls' locker rooms and watch them change. I think this is all backwards," Whitson charged. "I think it is a civil right for girls and women when they see a female sign on a bathroom that they know they can go in there and be safe. And again, this just comes back to common sense. I'm a father with five kids. Three of those kids are daughters."
Walkinshaw charged that Whitson has "been really obsessed with how maybe 1% of the kids in our schools use the bathrooms, and what I hear from folks in our community, and what I'm focused on is how 100% of our kids can succeed in the classrooms. So the threats to pull federal funding, the dismantling of the Department of Education, threatens the performance of our kids in the classrooms, and that's what I'm focused on."
Whitson has also been trying to link Walkinshaw to Zohran Mamdani, the socialist candidate who rocked the political world in June by winning the Democratic Party mayoral nomination in New York City.
Listing Walkinshaw's record and his proposals, Whitson charged, "This is someone who has a history of supporting a lot of the exact same type of policies that Mamdani is supporting. And so I'll let voters… draw the comparison."
Asked about the comparison, Walkinshaw said during his four months on the campaign trail this summer, "not a single voter has asked me about the New York mayor's election. I don't care what happens in the New York mayor's election. I care what happens to folks right here in the 11th District."
Republican congressional candidate Stewart Whitson is linking Democrat James Walkinshaw, his opponent in Tuesday's special election, to Democratic Party mayoral nominee Zohran Mamdani of New York City (pictured). (Lev Radin/Pacific Press/LightRocket via Getty Images)
But what Walkinshaw says he has heard about on the campaign trail is the push by both Democrats and Republicans for the Justice Department to release files related to the federal investigation of Epstein, who died in prison six years ago while awaiting federal charges related to sex trafficking.
"One of these things that I hear from Democrats, independents and a lot of Republicans and conservatives who believed Donald Trump when he said there was a cover-up of the files during the Biden administration. They took him at his word, and now they're wondering if he was lying. So yeah, it comes up, and it comes up across the political spectrum," Walkinshaw said.
And if he wins Tuesday's election, Walkinshaw said he will immediately sign a discharge petition by Democratic Rep. Ro Khanna of California and Republican Rep. Thomas Massie of Kentucky. The petition, which is currently just a few votes shy of passing, calls on the House to vote to urge the Justice Department to release the files.
"I absolutely will sign it," he said. "I think the American people deserve to know. I want to know what the Trump administration, if anything, is covering up. And right now, the discharge petition is the vehicle to do that."
Whitson argued that "my opponent's really late to the game on this," and that "months ago I called for a complete disclosure of all the records from Epstein files."
Whitson pointed to his years as a federal law enforcement officer in declassifying documents, and charged that Walkinshaw was using the issue as a political weapon.
"How long has this case been going on, and now he finally wants to reach on those records. And so what does that mean? It means he doesn't care about these victims at all. He's using the pain and the suffering that they experience to try to get political gain," he argued.
Fox News' Kiera McDonald contributed to this report.
Paul Steinhauser is a politics reporter based in the swing state of New Hampshire. He covers the campaign trail from coast to coast."
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