While Formula 1 may be struggling to invigorate the spectacle of racing amid another anticipated year of Red Bull dominance, one area it is not struggling in is the off-track coffers. With more races than ever before, and the bumper profits that go with it, an inevitable side-effect is wandering eyes from afar. The sport’s governing body, the FIA, has thus opened an “expressions of interest” process in January for new potential teams to join the current 10-team grid, perhaps as soon as 2025. Enter Calvin Lo: a Hong Kong-based billionaire. CEO of R.E. Lee International, the world’s largest life insurance broker, the 45-year-old has been “hooked” on the sport since glimpsing Michael Schumacher’s Ferrari on TV in the early 2000s. A trip to Shanghai for the first Chinese Grand Prix in 2004 underlined that adoration. But now, spectating from the paddock isn’t enough. “I’m having serious discussions about getting involved right now,” he tells The Independent, from an office in Singapore, with all the paperwork lying in front of him. “There’s actually quite a few proposals in front of me right now to see how I can participate. “F1 needs more teams. There’s too many talents in motorsport to not have more teams. But when I go through it, it is highly aspirational and absolutely, very ambitious. Still, I’d loved to be involved financially.” But not at the cost of his reputation. Financial prudence and sustainability are at the forefront of his thinking, with the extended FIA deadline for applications closing on Sunday. The entrance fee for any new team is $200m, shared by all the current teams. Mercedes boss Toto Wolff has previously remarked that $1bn is realistically required to fight at the front, a figure Lo agrees is “fair” given the basic costs of recruitment and car development. “I won’t get myself into that vicious cycle where I can’t hit those financial markers,” he says, adamantly. “Putting money into the team is not the difficult part. It’s making sure it’s sustainable; otherwise it’s embarrassing for everyone. It’s very intricate, even with an established group of people, with all the sponsorship and the detail. “But there’s so much potential in this part of the world – it’d be so advantageous to the Asian community and to the F1 ecosystem.” Audi have already confirmed their entry in 2026, taking over from Alfa Romeo (Sauber), while American giant Ford has partnered with Red Bull for the world champions’ new powertrains division. While Lo was tight-lipped about naming potential partnerships, he did emphasise his eagerness to join forces with a new team via the current FIA process. Confirmed bids from Andretti Cadillac, as well as a mooted submission from junior formula outfit Hitech GP, were ruled out. An association with Panthera Team Asia, therefore, seems most probable at this point. Lo also has a financial link with Williams’ F1 team, who were bought by private investment firm Dorilton Capital nearly three years ago, but non-disclosure agreements preclude him from elaborating further. He was insistent, however, that any new team would not present a conflict of interest. Instead, his new venture, likely based out of Asia, would be his primary focus. The continent is a “huge untapped market” for the sport, in Lo’s view, amid the Americanisation of the sport witnessed at the weekend in Miami. An academy for drivers and academics alike is also a target. “To truly make F1 global, we cannot forget this part of the world,” he says. “There are races, but the penetration is not high and it’s wasted. “I would love to have an Asian team with a base in the Pearl River Delta [the wealthiest region in south China]. The initial few seasons would be tough but it’s important for the sport to have more exposure and commitment here. “It’d be great to have an academy here. Recruiting talents not just for F1, but aeronautics and legal avenues. For young people to be exposed to this kind of world, it could change someone’s life. “With [F1’s new regulations in] 2026 and the net-zero target of 2030, now is the perfect time to be involved behind the scenes.” Working in the shadows is just how Lo operates. Widely publicised as the “secretive” or “under-the-radar” billionaire – who has a net worth of $1.7bn (£1.3bn) according to Forbes – he covets privacy, despite a lucrative lifestyle which includes owning a suite of supercars and a collection of tip-top champagne, with a single batch costing $230m. “If I go into F1, you won’t see me,” he reveals. “It’s not my style. It’s also partly to do with my main business and working with clients. “In my view, the wealthier you are… you don’t go out and flaunt it. Well some do, most don’t!” McLaren CEO Zak Brown believes there will be at least four prospective teams interested in joining the sport, while F1’s regulations cater for only two more spots. Lo has been included in an initial application to play a financial role – even if he won’t be the face of said new team – and the FIA intends on making a decision about which teams will be granted a shot at the big time by the end of June. “By 2026, it will be a different world we live in and it’d be pretty amazing to be part of that change,” he concludes. “It’s now about looking at all the plans and making a decision truly from a financial point of view. “The skeleton is already there. It’s now just getting everyone to commit themselves.” Read More FIA formally opens applications for new teams to join F1 grid Andretti joins forces with General Motors to target Formula 1 entry FIA boss ‘surprised’ at ‘adverse reaction’ to Andretti’s F1 bid with Cadillac Aussie billionaire David Dicker enters race for new team to join F1 grid Ford to rejoin Formula 1 as engine partner for Red Bull from 2026

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The latest fashion trend to go viral online doesn’t involve a hot new denim style or designer handbag – it’s about overhauling your entire wardrobe with the help of colour analysis. Professional stylists and amateur enthusiasts alike have been sharing videos of fashionistas swathed in swatches of fabric as they endeavour to discover the palette of colours that suits them best. Also known as ‘finding your colours’, the topic is exploding on social media, with millions of video views on TikTok and 100k posts under #colouranalysis on Instagram. “TikTok users love educational content and transformation stories,” says Cliff Bashforth, managing director of Colour Me Beautiful, which provides personal colour consultations. “Colour analysis provides a captivating narrative, and the system can be proven by displaying ‘before and after’ makeovers, good and bad colours on an individual and colour combinations.” While trends like this year’s ubiquitous Barbie pink will keep popping up from time to time, consumers are increasingly rejecting the idea of ‘must-have’ pieces and adopting a more personalised approach. “With the general conscience turning away from fast fashion, colour analysis is a good way to ensure you’re buying something that will suit you perfectly and last a lifetime,” says Megan Watkins, head stylist at SilkFred. What are the benefits of colour analysis? “For many people, finding their most flattering shades of clothing (and make-up) is a life-changing experience,” says Bashforth. “Wearing your best shades of clothing enhances your natural colouring, brings out your individuality, boosts confidence, and ensures you always look your best, effortlessly expressing your personal style.” As well as guiding how you buy and style clothes, colour analysis can suggest flattering make-up and hair shades. Watkins says: “Finding the right colour palette for you will elevate your entire aesthetic and can even help with making your skin look brighter and minimise dark circles.” What happens at a colour analysis appointment? “It is a common misconception that ‘finding your colours’ is down to your hair colour or eye colour – it’s all about your skin,” says Watkins. “Your skin undertone stays the same no matter your age or how long you’ve been in or out of the sun, so assuming the colour analysis is done correctly, your colour palette will stay the same for the rest of your life.” At a professional colour analysis session, which can last up to two hours, a stylist will look at how different groups of shades look against your face. “Larger coloured swatches – known as ‘drapes’ in the trade – are used to test for the undertone, depth and clarity of the individual’s colouring,” Bashforth explains. “Some companies also use the seasonal method and categorise people into spring, summer, autumn, or winter. “At Colour Me Beautiful we start by explaining our 24-palette system so the client fully understands why he or she falls into a certain colouring type.” The stylist will talk through colour combinations, outfit ideas and make-up suggestions, and you’ll be given a fabric swatch to use as a guide for shopping. “No longer is an individual told ‘what colours to wear’,” Bashforth adds. “Instead a flexible approach has been adopted which means a client is shown ‘how to wear colour’ – it’s more about the shades of a hue, rather than the hue itself.” Can you do it yourself? While a thorough consultation with a specialist is the best way to find your perfect palette, there are some principles you can borrow to try some DIY colour analysis. “Gather up a variety of tops, knitwear etc. in warmer and cooler hues,” says Bashforth, starting with no make-up and wearing a top in a basic neutral shade. “In daylight, stand in front of a mirror and hold each garment up to your face, observing whether your complexion is enhanced and looks fresher, or your skin appears dull or pale.” You could also use the ‘vein test’ to see where you fall on the warm/cool divide. “All you need to do is check your wrist and see if your veins appear as a more green shade or if they appear to be a blue/purple hue,” says Watkins. “If you’re on the green side, this is classed as a warm tone, if you’re veering towards blue or purple then you’re on the cooler side of things.” She adds: “If you’re looking for a colour that suits just about everyone, primary red is a good bet as it partners well with every other colour on the colour wheel.” Leem Ruffled-Hem Woven Maxi Dress in Olive, £145, Selfridges Roman Blue Sleeveless Abstract Print Maxi Dress, £60 River Island Pink Ruched Sleeve Blazer, £65; Pink Wide Leg Pleat Trousers, £40 Oliver Bonas Gold & Yellow Striped Midi Dress, £79.50 Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live Dementia diagnosis could be sped up thanks to AI Reading for pleasure in childhood boosts brain health in teenage years – study Stan Wawrinka on setbacks, preparing for Wimbledon and friendship with Roger Federer

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The LVMH group has announced a significant partnership with the 2024 Olympic and Paralympic Games in Paris. The luxury goods conglomerate – which owns brands including Louis Vuitton, Fendi, Tiffany & Co, Moët & Chandon, Hennessy and Dom Perignon – unveiled the news one year ahead of the XXXIII Summer Olympics, set to begin on July 26, 2024. The partnership will include providing products for Olympic events, crafting medals and sponsoring athletes. “It was only natural that LVMH and its maisons be part of this exceptional international event,” said Bernard Arnault, chairman and CEO of LVMH. “Sport is a tremendous source of inspiration for our maisons, which will unite creative excellence and athletic performance by contributing their savoir-faire and bold innovation to this extraordinary celebration.” The first athlete to receive LVMH sponsorship is swimmer Léon Marchand. A strong medal contender for France, the 21-year-old has won three world champion titles and is the world record-holder of the 400-metre individual medley. Make-up brand Sephora will be a partner for the Olympic Torch Relay, while Moët Hennessy wines and the LVMH spirit brands will provide beverages for the Games’ hospitality program. Parisian jeweller Chaumet will design the Olympic and Paralympic medals, and luxury fashion labels Louis Vuitton, Dior and Berluti will lend their expertise in the run-up to the event. LVMH has also committed to expanding its charitable efforts, starting with an initiative with longstanding non-profit partner Secours Populaire Francais. The scheme will facilitate access to sports for 1,000 children and young people aged four to 25 who live in vulnerable situations via funding for sports association memberships, training programs and beginner classes. “LVMH already supported us during our bid for the Summer Olympics and we are thrilled to have the Group with us 100% for this exciting adventure,” said Tony Estanguet, president of the Paris 2024 Olympic Committee. “With its exceptional know-how, the LVMH Group will bring its immensely creative talent to this project and enable us to benefit from its extensive experience.” LVMH jewellers and leather goods brands have a long history of creating trophies and travel cases for major sporting competitions. The Super Bowl and US Open trophies are created by Tiffany & Co, while the leather trunks that house the World Cup, NBA Championship and Monaco Grand Prix trophies are all made by Louis Vuitton. Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live Bisexual people ‘experience worse health than other adults’ What’s the coolest bedding to survive summer heat and night sweats? How to bring a touch of the Mediterranean to your garden

By Neil Jerome Morales and Enrico Dela Cruz MANILA Philippine inflation proved stubborn after it unexpectedly quickened for