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☆ Inside the Goldman Sachs marketing push that has some execs perplexed
▼ + stars: | 2024-11-14 | by ( Reed Alexander | ) www.businessinsider.com time to read: +14 min

AdvertisementTop Goldman officials denied any plans to cut Carter's department and said she had upgraded Goldman's marketing capabilities. "It sounds like a few people have a quaint understanding of marketing at Goldman Sachs," a Goldman spokesman, Tony Fratto, said. They turned to the consulting giant McKinsey, which recommended Goldman increase its marketing budget and hire a chief marketing officer, these people said. Related storiesAs AT&T's chief brand officer, Carter handled sports sponsorships, advertising, and diversity messaging in a division headed by the telecom giant's global marketing officer, Lori Lee. PATRICK T. FALLON/AFP via Getty ImagesIn recent weeks, Goldman's marketing team has suffered more departures.

Persons: Goldman Sachs, Goldman, Fiona Carter, Carter, David Solomon's, Solomon, Tony Fratto, It's, Goldman dealmaker, —, John Waldron, Lori Lee, Robert De Niro, Katie Holmes, John Rogers, Waldron, Rogers, Fratto, Sean Zanni, Jake Siewert, Maria dal, speechwriting, Dal Pan, Goldman Sachs SAUL LOEB, Matt Gibson, David Solomon, PATRICK T, FALLON, Jason Hill, snagging, There's, Russell Horwitz, Goldman's, Horwitz, " Horwitz, Emmalyse Brownstein, Reed Alexander Organizations: Goldman, Business, Forbes, McKinsey, T's, Hollywood, Tribeca Film, Goldman's New, BI, AFP, Formula One United, Prix, Getty, White Locations: Sachs, Goldman's, Goldman's New York City, Formula One United States, Austin , Texas, York City

☆ The multi-billion dollar battle to host an F1 race is heating up
▼ + stars: | 2024-11-11 | by ( Chris Hawes | ) www.cnbc.com time to read: +3 min

Who will win a 2026 Grand Prix? "We are receiving calls from prime ministers, from governments that really want to host the Grand Prix," F1 CEO Stefano Domenicali told CNBC's "Inside Track." The Belgian Grand Prix adds an estimated $248 million to the national economy each year. Abu Dhabi, which held its first Grand Prix in 2009, spent $40 billion constructing an artificial island to do it. "It didn't have anything before the plans for the Abu Dhabi Grand Prix."

Persons: Stefano Domenicali, CNBC's, Domenicali, Abu, Saif Rashid Al Noaimi, YouGov, Robin Fenwick, Guy Antognelli, McLaren, Zak Brown, You've, Lewis Hamilton Organizations: CNBC, Abu, Grand Prix, Monaco, Monaco Government Tourist, Convention Authority, Cannes Film, Cote d'Azur, Bloomberg Locations: Thailand, South Korea, India, Rwanda, Belgian, Europe, America, Belgium, Abu Dhabi, Yas, Grand, Saudi Arabia, U.S, Monte Carlo, Monaco, Cote

☆ Local impact: The multimillion-dollar payoff to hosting an F1 Grand Prix
▼ + stars: | 2024-11-10 | by ( ) www.cnbc.com time to read: +1 min

The most financially successful event to date was the first-ever Grand Prix in Las Vegas, which generated close to $1.5 billion in economic value, according to local officials. But communities had been feeling F1's local impact even before it broke into the United States. The Australian Grand Prix's economic impact came in around 266 million Australian dollars ($180 million) in 2023, according to EY. "We think it provides enormous economic impact to the state of Victoria and to Melburnians," he added. From Melbourne and Monaco to Abu Dhabi and Silverstone, learn more about F1's local impact by watching the video above.

Persons: Stuart Pringle, Pringle, CNBC's, Travis Auld Organizations: Silverstone Circuit, Formula, Grand Prix Corporation, Silverstone Locations: Las Vegas, United States, Britain, British, Melbourne, Australia, Victoria, Monaco, Abu Dhabi

☆ Max Verstappen mounts incredible comeback at Sao Paulo GP to all but clinch F1 championship
▼ + stars: | 2024-11-04 | by ( Jamie Barton | ) edition.cnn.com time to read: +3 min

CNN —Max Verstappen produced one of the all-time wet weather drives at the Sao Paulo Grand Prix on Sunday, climbing from 17th to first to all but seal his fourth consecutive F1 drivers’ championship title. In doing so, he extended his lead in the title race over challenger Lando Norris, who started in pole but finished sixth. Verstappen looks on during the Sao Paulo Grand Prix. Verstappen made a rapid start, moving up to 11th after just one lap, and to sixth by lap 11. Rain kicks up off the back of Verstappen's car as he competes during the Sao Paulo Grand Prix.

Persons: Max Verstappen, Red Bull, Lando Norris, Verstappen, Alessio Morgese, “, ” Norris, ”, It’s, it’s, Norris, Lance, Clive Mason, George Russell, Franco Colapinto, Esteban Ocon, Pierre Gasly Organizations: CNN, Sao Paulo, Sao Paulo Grand Prix, McLaren, AP, Mercedes, Red Bull Locations: Sao Paulo Grand, Brazil, Las Vegas, Ocon

☆ One week out from the election, Jared Kushner and Ivanka Trump still say they're set on moving on from Trumpworld
▼ + stars: | 2024-10-30 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Jared Kushner and Ivanka Trump were advisors to Donald Trump when he was in office. Her husband, Jared Kushner, says they're "rooting for" Trump but will not return to politics if he wins. Kushner told The Times that if Trump is elected, he does not expect "a major shift in terms of what we prioritize." I do not plan to be involved in politics," Ivanka told Fox News Digital after she skipped Trump's 2024 campaign launch. I think you have to either be all in or all out," Ivanka told the podcaster Lex Fridman in an episode that aired in July.

Persons: Jared Kushner, Ivanka Trump, Donald Trump, Ivanka, Trump, —, Kushner, Ambani, Arabella Rose Kushner, Carbone, Lex Fridman, it's Organizations: Service, The New York Times, The Times, Times, Fox News Digital, Business Insider, Republican National Convention, Miami Grand Prix, Affinity Partners Locations: Washington, India, Saudi Arabia

☆ F1 championships are increasingly being decided by how teams use new technology
▼ + stars: | 2024-10-28 | by ( Chris Hawes | ) www.cnbc.com time to read: +4 min

Bryn Lennon - Formula 1 | Formula 1 | Getty ImagesDoing this with a digital twin allows teams to develop strategies for different circuits. With 24 races on the schedule and only a handful of days in between, forecasting track performance is critical to ensuring engineers are ready to make any necessary changes. While teams are allowed up to 60 operational staff at the track on race days, each is communicating with analysts back at headquarters. "Everyone there will be looking at their computer and providing feedback to the racetrack engineers with recommendations that can be actioned onto the race car." With the cost-cap limiting budgets to $135 million per year, automating repetitive tasks is crucial to ensuring teams are using their resources efficiently.

Persons: Williams, James Vowles, CNBC's, Dan Keyworth, Red Bull, Max Verstappen, Lewis Hamilton of, Bryn Lennon, Britain's, Ben Waterhouse, Red, there's, Alessio Morgese Organizations: McLaren, CNBC, Mercedes, Oracle Red Bull Racing, of Great Britain, Silverstone Circuit, Engineers, Miami, Getty, Nurphoto Locations: Lewis Hamilton of Great Britain, Netherlands, parc ferme, Northampton, England, Monaco, Miami, USA

☆ Robert Downey Jr. says he wishes Elon Musk 'would control his behavior a little more'
▼ + stars: | 2024-10-22 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +3 min

Robert Downey Jr. discussed SpaceX founder Elon Musk on the Kara Swisher podcast. The "Iron Man" star said he wishes the businessman "would control his behavior a little more." Musk had a cameo in "Iron Man 2" because he has been compared to Downey Jr.'s character, Tony Stark. AdvertisementRobert Downey Jr. said Elon Musk should "control his behavior a little more," jabbing the billionaire CEO who has often prompted comparisons with Tony Stark. Gwyneth Paltrow as Pepper Potts, Robert Downey Jr. as Tony Stark, and Elon Musk in "Iron Man 2."

Persons: Robert Downey Jr, Elon Musk, Kara Swisher, Musk, Downey, Tony Stark, —, Downey Jr, Stark, Gwyneth Paltrow, Pepper Potts, — Swisher, that's, Mark Fergus, Donald Trump, Steve Jobs, Fergus, Trump, Tesla, Machete Organizations: SpaceX, Service, Marvel, Monaco, Prix, Paramount, Marvel Studios, Disney, New York Magazine, Apple

☆ US Grand Prix: Lando Norris penalty sees Max Verstappen extend drivers’ championship lead, as Charles Leclerc wins
▼ + stars: | 2024-10-21 | by ( Jamie Barton | ) edition.cnn.com time to read: +3 min

CNN —A controversial five-second penalty for McLaren’s Lando Norris saw the English driver lose ground in his pursuit of Max Verstappen’s drivers’ championship title, on a day when Charles Leclerc eased to victory in the United States Grand Prix. Having relinquished pole position immediately at the start of the race, Norris overtook Verstappen to take third in lap 52, but was adjudged to have gained an advantage by leaving the track. The resulting penalty saw Verstappen promoted back to a podium finish, and Norris relegated down to fourth. But the one guy I need to beat is Max and that’s the guy I didn’t beat today.”Norris (left) and Verstappen race through a turn during the US Grand Prix. A one-two for the team, we couldn’t have dreamed for better.”Team members stand along the fence celebrating as Leclerc wins the US Grand Prix.

Persons: McLaren’s Lando Norris, Max Verstappen’s, Charles Leclerc, Norris, Verstappen, ”, “, ” Norris, Eric Gay, Ferrari, Leclerc, Carlos Sainz, Red Bull Organizations: CNN, United States, Reuters, McLaren, Sunday, Sprint, ” Team, Ferrari Locations: Singapore, Austin , Texas, Austin, Mexico, Brazil

☆ How Liberty Media became one of the world's most valuable sports empires
▼ + stars: | 2024-10-21 | by ( Chris Hawes | ) www.cnbc.com time to read: +4 min

Charles Leclerc of Monaco driving the (16) Ferrari SF-23 on track during practice ahead of the F1 Grand Prix of Las Vegas at Las Vegas Strip Circuit on November 17, 2023 in Las Vegas, Nevada. Mark Thompson | Getty Images Sport | Getty ImagesWhen Liberty Media Chairman John Malone finalized the $4.4 billion acquisition of Formula One in 2017, he knew he was onto something. Mark Thompson | Getty Images Sport | Getty ImagesEvening out the field created more exciting story lines, which Netflix seized on. But to crack America, F1 needed a spectacle, and the 2023 Las Vegas Grand Prix would provide it. Mark Thompson | Getty Images Sport | Getty Images

Persons: Charles Leclerc of Monaco, Ferrari, Mark Thompson, John Malone, Fred Vasseur, — Ferrari, Red Bull, Mercedes AMG, Zak Brown, CNBC's, Max Verstappen, Stuart Pringle, Malone, Brown, Stefano Domenicali, Alexander Albon, Williams FW45 Mercedes, Kevin Magnussen, Haas, Autodromo Jose Carlos Pace Organizations: Las Vegas, Circuit, Getty, Liberty Media, Formula, Liberty, Ferrari HP, Constructors, Honda, McLaren Racing, Oracle Red Bull, Prix, Qatar, Lusail, Netflix, Silverstone, CNBC, Dells, Miami, Austin, Vegas, Autodromo Jose Locations: Las Vegas , Nevada, Netherlands, parc ferme, Lusail City, Qatar, U.S, Vegas, Thailand, Denmark, Brazil, Sao Paulo

☆ Charles Leclerc wins F1 U.S. Grand Prix, Lando Norris loses podium to late penalty
▼ + stars: | 2024-10-20 | by ( Madeline Coleman | ) www.nytimes.com time to read: +3 min

Lando Norris used his tire delta to navigate to third place late past Max Verstappen, who complained about his tires multiple times during the race. The stewards are investigating 👀#F1 #USGP pic.twitter.com/oDmpRvOYDM — Formula 1 (@F1) October 20, 2024Leclerc, Sainz, and Verstappen rounded out the podium, widening Verstappen’s lead in the drivers’ championship. Lando Norris started on pole but didn’t hold the lead after passing the massive American flag at Turn 1. Norris’ penalty was costly in the bigger picture of the drivers’ championship fight. Ferrari is now just eight points back of Red Bull for second place, while McLaren leads the championship by 40 points.

Persons: Charles Leclerc, Carlos Sainz, Lando Norris, Max Verstappen, Norris, Verstappen, Red Bull, McLaren, he's, hasn't, 👀#, egan, ando, ince, rix, ravel, hough Organizations: Tire, Lone Star State, United States, Prix, McLaren, “, ust, eads Locations: AUSTIN , Texas

☆ F1 meets Georgia-Texas: Austin readies for one of its biggest sports weekends
▼ + stars: | 2024-10-19 | by ( Madeline Coleman | ) www.nytimes.com time to read: +8 min

AUSTIN, Texas — Just outside Circuit of the Americas stands a large, multicolored billboard. 5 Bulldogs, is one of the biggest college football matchups this year, with two Southeastern Conference powerhouses set to clash. Legendary football coach Nick Saban did a hot lap on Friday, and Jess Sims tested several drivers’ knowledge of American college football, including Lando Norris. Iconic American college football and Formula One racing,” said Drew Martin, Texas’ Executive Senior Associate Athletics Director for External Affairs. “I know the Europeans are particularly fond of college football, in particular the halftime show.

Persons: COTA, GameDay, Elle Duncan Show, Nick Saban, Jess Sims, Lando Norris, It’s, ”, Drew Martin, Martin, “, ” Martin, “ It’s, ” Jess Sims, It’ll, ” COTA, Bobby Epstein, Epstein, Austin ”, Martin reckons, Darrell, Oscar Piastri, ’ Epstein, Eminem, ” Epstein, ’, Alex Albon, Jared C, Tilton Organizations: Tire, Sting, Texas Longhorns, Georgia Bulldogs, United, Texas, Oklahoma State, Kansas State, Southeastern Conference, Iconic American, Formula, Affairs, ” College football gamedays, SEC, University of Texas, Longhorn, ESPN, Dallas Grand Prix, Texas -, Darrell K Royal, Longhorns, McLaren, ” University of Texas Athletics, Circuit, Americas, Austin, Getty Locations: AUSTIN , Texas, Americas, Austin, United States, COTA, Texas, Europe, Texas - Georgia, Georgia, Austin , Texas

☆ Red Bull's Max Verstappen wins U.S. Grand Prix sprint race
▼ + stars: | 2024-10-19 | by ( ) www.cnbc.com time to read: +2 min

Red Bull Racing's Dutch driver Max Verstappen celebrates winning the United States Formula One Sprint at the Circuit of the Americas in Austin, Texas, on October 19, 2024. He now trails Verstappen by 54 points with six grand prix and two sprint races left in the season. Verstappen has won the U.S. Grand Prix the last three years but has not started the race from pole position since 2021. The sprint victory should renew Red Bull's confidence it has improved a car that Verstappen has alternately called "undrivable" and "a monster" at time this season. The once-dominant Verstappen had not scored a victory of any kind since the Austrian Grand Prix sprint race back in June, and his last victory in a grand prix came a week earlier in Spain.

Persons: Bull, Max Verstappen, ANGELA WEISS, McLaren's Lando Norris, Norris, Ferrari's Carlos Sainz, Verstappen, Red, Ferraris Organizations: United States Formula, Circuit, Getty, United States, Sunday's, U.S, Formula, McLaren, Red Bull Locations: Americas, Austin , Texas, Austrian, Spain

☆ The 7 biggest storylines of this Formula 1 season — and their impact on the sport's future
▼ + stars: | 2024-10-18 | by ( Gregory Leporati | ) www.businessinsider.com time to read: +7 min

Red Bull is no longer dominantMax Verstappen and Red Bull Racing haven't been as dominant this season. Dan Istitene/Getty ImagesIn a surprising midseason driver swap, Daniel Ricciardo was cut from RB F1, Red Bull Racing's sister team. Audi / Getty ImagesLast week, Toyota announced it would return to Formula 1, joining forces with the Haas F1 team. Audi is poised to join Formula 1 in 2026, taking over the Stake F1 Team Kick Sauber. The American manufacturer Ford also plans to partner with Red Bull in 2026 to provide the team with power units.

Persons: It's, Lewis Hamilton, Bryn Lennon, Mercedes, —, Red Bull, Max Verstappen, haven't, Mark Thompson, McLaren's Lando Norris, Verstappen, Verstappen hasn't, Red, Christian Horner, Adrian Newey, McLaren, Andrea Stella, Lando Norris, Song, Oscar Piastri, Bull, Aston Martin, Adrian Newey Adrian Newey, Bradley Collyer, he'd, Lawrence, Fernando Alonso, Daniel Ricciardo, Daniel Ricciardo's, Dan Istitene, Ricciardo, Yuki Tsunoda, Andrea Kimi Antonelli, Oliver Bearman, Joe Portlock, Liam Lawson, Ferrari's Carlos Sainz, Jack Doohan, they're, Ford Organizations: Ferrari, Mercedes, Red, Miami Grand Prix, Miami Grand, McLaren, Aston, Red Bull, RB F1, Netflix, NASCAR, Alpine, Audi, Getty, Toyota, Haas F1, Haas, Formula, Stake Locations: British, Hamilton, Red, New Zealand

On July 6, thousands of anti-tourism protesters marched through the streets of Barcelona, shouting: "Tourists go home!" Tourists caught in the crossfire of Barcelona's July protest — some of whom endured water guns and confrontations caught on tape — may not be inclined to return. And the top three most popular destinations were the very spots where protesters staged marches this year. A spokesperson for Barcelona's City Council told CNBC Travel that managing the city's tourism is one its main priorities since it is "reaching a limit with 17 million visitors per year." 'Winning the struggle'Despite claims that an influx of summer tourists humiliated protesters, Rivacoba said they are enthusiastic.

Persons: —, Skift, Booking.com, Daniel Pardo Rivacoba, Josep Lago, Rivacoba, Clara Margais, touristification, Marc Asensio, overtourism, Paco Freire Organizations: Spain's National Statistics Institute, Mallorca —, Catalonia —, CNBC, Mallorca, Neighbourhoods, Tourism Degrowth, Afp, Getty, CNBC Travel, Management, Barcelona's City Council, America's, Nurphoto Locations: Barcelona, Spain, Catalonia, Andalusia, Mallorca, Barcelona's, Spanish

☆ The Contests, Clubs and Big Promises of Trump’s Fund-Raising Emails
▼ + stars: | 2024-10-10 | by ( Karen Yourish | Lazaro Gamio | ) www.nytimes.com time to read: +26 min

It has offered adherents myriad “exclusive” opportunities to join clubs to give counsel to Mr. Trump, and it has repeatedly claimed that Mr. Trump is personally reviewing lists of small donors. The New York Times looked at some 7,400 emails sent by the Trump campaign since Mr. Trump entered the presidential race. Ms. Harris, and before her Mr. Biden, have far outpaced Mr. Trump in fund-raising this cycle, including from small-dollar donors. But both in sheer number (about 75 emails per week, on average, throughout this campaign cycle) and in syntax, the former president’s campaign emails stand out. Similar questions have arisen about contests Mr. Trump’s campaign and political action committee have run in years past.

Persons: Donald J, Trump, Trump Tour “, MAGA, Vance, Melania, Blue, ”, Santa, ” MAGA, Red Trump, MAGA ”, Brandon, “ Trump, “, Biden, Joe, Patrick’s, White, Pink, Red MAGA, Black MAGA, Trump “ I’m, Gray, Kamala Harris, Harris, Mr, Biden’s, ’, Trump’s, missive, BIDEN, you’ll, President Trump, Email, William McGuffin, McGuffin, ” Kyle, Beth Hilfer, ” Email, ” “, Trump “, Trump ”, Harris’s, Biden ”, Joe ”, Let’s, Brandon ”, Brian Hughes, YOU Organizations: New York Times, Trump, Trump Tour, Trump Tour “ Trump Force, Bedminster, Florida, Trump International, Republican National Convention, Miami Grand Prix, Houston Meet Trump, Trump Jr, Trump Meet Trump, Trump Force, Trump American, Trump Patriot, Trump Georgia, Trump Campaign, Trump Defense Task Force, Trump Free, Trump Official Trump, President’s, Melania Trump, Board, Trump Life, Trump Gold Club, Trump Diamond Club, Club, Trump VIP, Trump VP, Blue Trump, Trump Trump, MAGA, Trump MAGA, Santa Trump, Red Trump MAGA, White Trump MAGA, MAGA ” Trump, Beijing Biden, TRUMP, TNN, ” Trump, Black, “ Trump, Trump “, Trump “ Trump, Democratic, Mr, Biden, Data & Society, CLUB, WIN, The Times, Times, Formula One’s Miami, Prix, Federal, Patriots, “ Trump Force, American Express, “, TOP, Stockings Locations: Nashville Trip, Lexington, Ky, Beverly Hills, Costa Mesa, Calif, Dallas, Houston, Hallandale Beach, Fla, Trip, Vegas, London, New Orleans, N.J, Trump, Park City, Utah, Red, Delaware, Las Vegas, New York, America

☆ The power of passions: Tapping into consumers' emotional bonds
▼ + stars: | 2024-10-08 | by ( Raja Rajamannar | ) www.businessinsider.com time to read: +6 min

Tapping into people's passions can inspire emotional connections with consumers. In fact, our survey data identifies eight key roles that brands can play to either accelerate consumers' passions or alleviate their frustrations — one of which is fostering shared connections around their passions. A prime example of this is how Nike taps into peoples' passion for wellness, which is ranked the second highest among those we surveyed, while strengthening community bonds. Neuromarketing can derive an abundance of data-driven insights from study participants, allowing us to discern consumers' emotional associations with logos, messages, storylines, colors, and more. Inspiring an emotional response is an incredibly challenging task for marketers at a time when consumers feel bombarded by messages.

Persons: Raja Rajamannar, Rajamannar, —, Johnnie Walker, Costa Organizations: Mastercard, Service, Harvard Business School, Carnegie Hall, Cannes Lions, Prix, Consumers, Nike, Nike Run

☆ Keanu Reeves makes professional auto racing debut at Indianapolis Motor Speedway
▼ + stars: | 2024-10-06 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +1 min

CNN —Keanu Reeves is putting his foot on the pedal of his professional auto racing career. This weekend, the “Matrix” actor competed in the Toyota GR Cup, an amateur-focused racing series for car enthusiasts and aspiring racers, at the legendary Indianapolis Motor Speedway. In a field of 33 racers, Reeves finished in 25th place in Saturday’s Race 1 and placed 24th in Sunday’s Race 2. 92 BRZRKR car during the Toyota GR Cup Series at the Indianapolis Motor Speedway. 92 BRZRKR car, a reference to his graphic novel “The Book of Elsewhere” that he co- co-wrote with China Miéville.

Persons: Keanu Reeves, Reeves, Darron Cummings, Reeves ’, Cody Jones, Sandra Bullock, Bullock Organizations: CNN, Toyota, Indianapolis Motor, Sunday’s, Long Beach Toyota Locations: China, Los Angeles

☆ Former Singapore minister is jailed for a year for receiving gifts in landmark case
▼ + stars: | 2024-10-04 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +3 min

SINGAPORE — A Singapore court on Thursday sentenced a former minister to 12 months in prison for obstructing justice and receiving more than $300,000 worth of gifts, in the first jailing of a former cabinet member in a city-state famous for its clean governance. In a statement posted on the prime minister’s office website, Prime Minister Lawrence Wong said he was disappointed and saddened by the case. The case has shocked Singapore, which prides itself on its well-paid and efficient bureaucracy as well as strong and squeaky-clean governance. According to the prosecution, the value of the gifts Iswaran received totaled more than 400,000 Singapore dollars ($308,500). The former minister faced a total of 35 charges, two of which were corruption-related but were later amended to charges of receiving gifts while a public servant.

Persons: Iswaran, Lawrence Wong, ”, Wong, Ong Beng Seng, Ong, Vincent Hoong Organizations: English Premier League soccer, Singapore Locations: SINGAPORE, Singapore

☆ Billionaire who brought F1 to Singapore charged as part of landmark corruption probe
▼ + stars: | 2024-10-04 | by ( Story Reuters | ) edition.cnn.com time to read: +2 min

Singapore Reuters —A Singapore court charged a property billionaire on Friday with obstructing justice and abetting offenses by a disgraced ex-transport minister jailed a day earlier in the city-state’s high-profile government graft case. Iswaran was imprisoned for 12 months for obstructing justice and improperly receiving gifts as a public servant, with Ong a central part of the prosecution’s case. Ong’s firm, Singapore-listed Hotel Properties, requested a trading halt early on Friday following Thursday’s announcement that he would be charged. Ong was charged with one count of abetting Iswaran’s receiving of valuables and one count of obstruction of justice, according to the charge sheet. Channel NewsAsia said Ong’s court hearing was adjourned until pre-trial proceedings on November 15.

Persons: Ong Beng Seng, Iswaran, Ong, NewsAsia, Ong’s, Iswaran’s, Justice Vincent Hoong Organizations: Singapore Reuters —, Hotel Properties Ltd, Singapore, English Premier League soccer, Doha Locations: Singapore, Doha

Miami Dolphins are in advanced talks to sell minority stake in team to Ares Management, billionaire Joe TsaiThe Miami Dolphins are in advanced talks to sell a minority stake in the team to private equity firm Ares Management and billionaire Joe Tsai, CNBC has learned, highlighting the growing trend of owners looking to build their sports portfolios to include multiple teams and operate their own stadiums to maximize revenue. CNBC has valued the Miami Dolphins as the league's eighth most valuable team at $7.1 billion, which does not include the stadium. The Miami Dolphins and the NFL declined to comment, and Tsai's BSE Global did not immediately respond to a request for comment. Businessman Stephen Ross purchased the Miami Dolphins in 2009 for $1.1 billion. This allows him to bring in revenue from events held at the stadium such as the Miami Grand Prix and Miami Open tennis tournament.

Persons: Joe Tsai, Ares, Tsai, Stephen Ross, Ross Organizations: Miami Dolphins, Ares Management, CNBC, Hard, Miami Grand Prix, Miami, NFL, Brooklyn Nets, Bloomberg, BSE Global, Miami Open, Dolphins, Formula, Prix

☆ LVMH and Formula One announce 10-year partnership
▼ + stars: | 2024-10-02 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +1 min

The Race winner trophy is seen in a Louis Vuitton trunk on the grid prior to the F1 Grand Prix of Monaco at Circuit de Monaco on May 26, 2024 in Monte-Carlo, Monaco. Liberty Media -owned Formula One and luxury giant LVMH are entering into a 10-year partnership, according to a joint press release from the companies Wednesday afternoon. The partnership will officially launch at the start of next F1 season and will include "hospitality, bespoke activations, limited editions and outstanding content." The official arrangement will not be the first time that LVMH and F1 have worked together. F1 worked with one of LVMH's brands during last year's Las Vegas Grand Prix and the team-up was a success, according to Liberty Media president and CEO Greg Maffei.

Persons: Greg Maffei, Maffei, Bernard, Frédéric Organizations: of Monaco, Circuit de Monaco, Carlo, Liberty Media, Las Vegas, Prix Locations: Louis, Monte, Monaco

☆ Singapore’s ex-minister S. Iswaran sentenced to jail in rare corruption case for squeaky clean country
▼ + stars: | 2024-10-02 | by ( ) edition.cnn.com time to read: +2 min

S. Iswaran, who was a cabinet member for 13 years and has held the trade, communications and transport portfolios, had pleaded guilty to four counts of improperly receiving gifts and one of obstructing justice. The court said Iswaran, 62, would be allowed to remain on bail for the next few days and begin his jail term on Monday. The case has shocked Singapore, which prides itself on having a well-paid and efficient bureaucracy as well as strong and squeaky clean governance. Iswaran resigned as transport minister after less than three years in the job when he was first charged in January. The prosecution had initially charged him with 35 offenses but proceeded with only five.

Persons: Iswaran Organizations: Singapore Reuters —, English Premier League soccer Locations: Singapore

Formula 1 driver Daniel Ricciardo was dismissed Thursday by the Red Bull Racing junior team effectively immediately, ending his second stint in the sport with an unusual mid-season departure. The move comes as the once-dominant Red Bull faces fresh struggles in the 2024 championship, and difficult questions about its future. The RB team is known for auditioning potential candidates to promote to the senior Red Bull team. Ricciardo began driving for the Red Bull junior team in 2011 before getting promoted to the senior team in 2014. Mekies welcomed Lawson, who has impressed leaders of the Red Bull team while occasionally subbing in for one of its drivers.

Persons: Daniel Ricciardo, “ I’ve, ” Ricciardo, “, It’ll, Liam Lawson, Autodromo Enzo e Dino, Rudy Carezzevoli, Laurent Mekies, ”, ” Mekies, “ Daniel, Bull, Max Verstappen, McLaren’s Lando Norris, Ricciardo, Red Bull, Circuit Gilles Villeneuve, Darren Heath, Carlo, Mark Thompson, hasn’t, McLaren, Mekies, Lawson, “ I’d, Liam Organizations: Red Bull Racing, Red Bull, Emilia, Romagna, Autodromo Enzo, Circuit, Team, Bull, NBC News, McLaren, Canadian, Monaco, Circuit de Monaco, Red, Verstappen Locations: U.S, Austin , Texas, Las Vegas, Australia, Imola, Italy, ”, Montreal, Monte, Singapore

☆ Eight-time F1 race winner Daniel Ricciardo leaves RB, replaced by Liam Lawson
▼ + stars: | 2024-09-26 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +4 min

CNN —Visa Cash App RB Formula One Team (RB) have announced that Daniel Ricciardo has left the team with immediate effect. He will be replaced by Red Bull junior driver Liam Lawson in a move that brings weeks of speculation to an end. So getting signed up by the Red Bull program when I was 18 … having that responsibility, that pressure, all of that, it forced me to grow up.”Ricciardo celebrates winning the 2018 Chinese Grand Prix with Red Bull. The team has served as a development ground for future Red Bull drivers in the past, but no driver has received the call-up since Alex Albon in 2019. He stepped in for Ricciardo for five races in 2023 when Ricciardo suffered a wrist injury and has served as the reserve driver for both Red Bull and RB.

Persons: Daniel Ricciardo, Liam Lawson, Ricciardo, Nyck De Vries, Red Bull, Red Bull –, “ I’ve, ” Ricciardo, “, It’ll, Laurent Mekies, ”, “ Daniel, Bull, Toro Rosso, –, Charles Coates, don’t, you’re, I’ve, Alex Albon, Lawson Organizations: CNN, One, Red Bull, McLaren, RB, Alpha, “, Team, Singapore, Prix, Red Bull Academy, Spanish, HRT, Red, CNN Sport, Renault, British, Formula Locations: Austrian, Europe, Ricciardo, New Zealand, Austin , Texas

☆ Ex-minister Iswaran pleads guilty in graft case that has gripped Singapore
▼ + stars: | 2024-09-24 | by ( ) www.cnbc.com time to read: +2 min

Singapore's former transport minister S. Iswaran arrives at the Supreme Court in Singapore September 24, 2024. The case has gripped the wealthy city-state which prides itself on having a well-paid and efficient bureaucracy as well as strong governance. Iswaran, who joined the cabinet in 2006, is the first Singaporean minister to be tried in court. Singapore's former Transport Minister S. Iswaran has pleaded guilty to receiving gifts while in office, local media reported, as proceedings began on Tuesday in a rare graft trial involving a state official in this Asian financial hub. The last corruption case involving a Singaporean minister was in 1986, when the national development minister was investigated for allegedly accepting bribes.

Persons: Iswaran, Ong Beng Seng, Ong, NewsAsia Organizations: Prosecutors, CNA, English Premier League soccer, Singapore Locations: Singapore

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