Why two iconic soccer clubs are up for sale at the same time

Why two iconic soccer clubs are up for sale at the same time

LONDON — Two of the world’s biggest and most profitable soccer teams are on the market at the same time — and that’s no coincidence, according to analysts. In November, the owners of first Liverpool and then Manchester United confirmed they were open to new investment offers, with the potential for full sales of the top flight English clubs. Liverpool’s owner, U.S. sporting conglomerate Fenway Sports Group, is thought to have put a roughly £3.3 billion ($3.97 billion) total value on the club, 12 years after acquiring it for £300 million. Goldman Sachs and Morgan Stanley have prepared a sales...

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Epic Games, Fortnite $245 million refunds to players: Who qualifies

Epic Games, Fortnite $245 million refunds to players: Who qualifies

Epic Games, creator of the massively popular video game Fortnite, was hit with the Federal Trade Commission’s biggest penalty ever for a rule break this week. The developer was ordered to pay $520 million for violating the Children’s Online Privacy Protection Act in part by tricking millions of players into making unintended in-game purchases using a technique called “Dark patterns.” Fortnite is free to play and makes billions of dollars from in-game purchases such as digital skins for players’ characters and seasonal “Battle Passes” that provide useful items as a user spends more time playing. In a release breaking down...

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Turkey hikes minimum wage by 55% as inflation and living cost crisis bite

Turkey hikes minimum wage by 55% as inflation and living cost crisis bite

View over the tourist area of Istanbul, Turkey, on october 27, 2022. Rita Franca | Nurphoto | Getty Images Turkey announced a hike of its minimum wage by 55% Thursday, amid a cost of living crisis that has plunged millions into financial hardship, hammered small businesses and rendered many unable to afford basic goods. The move is aimed at easing the impact of surging living costs, but economists worry it will further increase inflation. The country’s official rate of inflation is currently at a 24-year high of 84.4%. Turkish President Recep Tayyip Erdogan, in a televised speech from Ankara Thursday,...

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Nike (NKE) Q2 earnings 2023

Nike (NKE) Q2 earnings 2023

Nike on Tuesday reported quarterly results that easily topped Wall Street’s expectations while raising its outlook, as the company touted its success in clearing through its hefty inventory pile. Shares of Nike rose more than 10% Wednesday. Here’s how Nike did in its second fiscal quarter compared with what Wall Street was anticipating, based on a survey of analysts by Refinitiv: Earnings per share: 85 cents vs. 64 cents expected Revenue: $13.32 billion vs. $12.57 billion expected The company reported net income for the three-month period ended November 30 was $1.33 billion, or 85 cents per share, compared with $1.34...

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The EU agreed to limit gas prices, but some analysts are skeptical

The EU agreed to limit gas prices, but some analysts are skeptical

Pipes run along a technical facility for compressing natural gas on the site of astora GmbH’s Rehden natural gas storage facility, the largest in Western Europe. Picture Alliance | Picture Alliance | Getty Images The European Union Monday concluded two months of heated talks over how to protect households from rising energy prices — but some analysts argue the bloc’s solution is unsustainable and might not withstand the realities of a 2023 gas supply crunch. EU members compromised by adopting a “dynamic” cap on the price that can be bid for front-month gas contracts on Europe’s benchmark trading facility. The...

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Meta could face $11.8 billion fine as EU charges it with antitrust breach

Meta could face $11.8 billion fine as EU charges it with antitrust breach

The Commission took issue with Meta’s pairing of Facebook Marketplace with its personal social network. Budrul Chukrut | SOPA Images | Lightrocket | Getty Images The European Union on Monday issued Facebook parent company Meta with a list of objections over of its online classifieds business, Facebook Marketplace. The European Commission, the EU’s executive arm, said that it found Meta breached EU antitrust rules by distorting competition in the markets for online classified ads. The Commission took issue with Meta’s pairing of the Facebook Marketplace service, which lets users list items for sale, with its personal social network, Facebook. It...

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