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☆ 7 marketing agencies and firms dedicated to creating sponsorship opportunities for women in sports with brands like Microsoft and Ferrari
▼ + stars: | 2023-08-21 | by ( Margaret Fleming | Ashley Rodriguez | ) www.businessinsider.com time to read: +2 min

Data suggests women athletes, who generally earn less on-field than men, rely more on sponsorships for their income. Some sports-marketing firms have emerged to fill the gap, connecting women athletes with brands. And, at the college level, brands are finding young women athletes like Olivia Dunne are among the best-performing partners on social media. A crop of sports-marketing companies has emerged to bridge this gap with a focus on helping women athletes partner with brands. Insider is highlighting seven sports-marketing companies focused on partnerships between women athletes and brands in 2023, based on our reporting and nominations from industry experts.

Persons: Elena Delle Donne, Sabrina Ionescu, Sue Bird, Naomi Osaka, Olivia Dunne, Wasserman, Brew Organizations: WNBA, Nike, Star, The, Forbes, Wasserman

☆ 7 sports-marketing agencies and firms helping women athletes score sponsorship deals and capitalize on surging popularity
▼ + stars: | 2023-08-15 | by ( Margaret Fleming | Ashley Rodriguez | ) www.businessinsider.com time to read: +2 min

Data suggests women athletes, who generally earn less on-field than men, rely more on sponsorships for their income. Some sports-marketing firms have emerged to fill the gap, connecting women athletes with brands. Below are seven agencies and firms focused on helping athletes in women's sports score brand deals. A crop of sports-marketing companies has emerged to bridge this gap with a focus on helping women athletes partner with brands. Insider is highlighting seven sports-marketing companies focused on partnerships between women athletes and brands in 2023, based on our reporting and nominations from industry experts.

Persons: Elena Delle Donne, Sabrina Ionescu, Sue Bird, Naomi Osaka, Olivia Dunne, Wasserman, Brew Organizations: WNBA, Nike, Star, The, Forbes, Wasserman

☆ Trucking firm Yellow extends bankruptcy loan talks until next week
▼ + stars: | 2023-08-11 | by ( Dietrich Knauth | ) www.reuters.com time to read: +3 min

Yellow filed for bankruptcy on Sunday with a loan offer for that amount from private equity firm Apollo, a senior lender to the company before its bankruptcy. The trucking company said earlier this week it was seeking alternative financing from MFN Partners, an investment firm that owns 41% of Yellow's stock, and Estes Express Lines, a rival in freight trucking. Yellow intends to use its bankruptcy to sell all of its assets, including 12,000 trucks and over 300 shipping service centers. The union, which represents about 22,000 laid-off Yellow employees, said the Nashville, Tennessee-based company "mismanaged" its way to bankruptcy. Yellow owes the U.S. Treasury over $700 million on a pandemic bailout loan approved by former President Donald Trump's administration in 2020.

Persons: Mike Blake, Pat Nash, Craig Goldblatt, Nash, Dennis Dunne, Donald Trump's, Dietrich Knauth, Mark Porter, Andrea Ricci, Alexia Garamfalvi, Richard Chang Organizations: U.S, Yellow Corp, MFN Partners, Estes Express, Apollo, U.S . Treasury Department, International Brotherhood of Teamsters, U.S . Treasury, Thomson Locations: Mexico, San Diego , California, U.S, Wilmington , Delaware, Nashville , Tennessee

In this article TSLA Follow your favorite stocks CREATE FREE ACCOUNTThe Tesla Motors Inc. Model X sport utility vehicle (SUV). The car or its computer was suddenly online in a Southern region of war-torn Ukraine, he found by opening up his Tesla app and using a geolocation feature. CNBC found that after the car was totaled, online auction site Copart listed it for sale, according to website listings. "Virtually all of the vehicles that are totaled will end up at a salvage auction," he said. One online auction website that specializes in such sales estimated the winning bid for the vehicle would be between $27,400 and $29,400.

Persons: David Paul Morris, Jay Yarow, Yarow, Ken Tindell, —, Tindell, Copart, Mike Dunne, Steven Lang, Lang Organizations: Tesla Motors Inc, Bloomberg, Getty, CNBC, Drake, Twitter, Canis Labs, Overseas, General Motors Locations: U.S, Southern, Ukraine, New Jersey, Norway

☆ UK councils call for ban on disposable vapes by 2024
▼ + stars: | 2023-07-15 | by ( ) www.reuters.com time to read: +1 min

LONDON, July 15 (Reuters) - Councils in England and Wales have called on the UK government to ban the sale of single use vapes by 2024 on both environmental and health grounds. The LGA said 1.3 million disposable vapes were thrown away every week. The LGA said councils were also concerned about the impact vaping was having upon children and young people. "Disposable vapes are fundamentally flawed in their design and inherently unsustainable products, meaning an outright ban will prove more effective than attempts to recycle more vapes," David Fothergill, Chairman of the LGA's Community Wellbeing Board, said. The UK Vaping Industry Association defended disposable vapes.

Persons: vaping, David Fothergill, John Dunne, James Davey, David Evans Organizations: Local Government Association, European Union, LGA, Vaping Industry, BBC, Thomson Locations: England, Wales, France

☆ Rory McIlroy says he’d rather retire ‘if LIV Golf was the last place on Earth to play golf’
▼ + stars: | 2023-07-13 | by ( Ben Morse | ) edition.cnn.com time to read: +4 min

CNN —Rory McIlroy said on Thursday that he would rather retire than compete on the Saudi-backed LIV Golf tour even if it “was the last place on Earth to play golf.”Four-time major winner McIlroy has been a vocal opponent of the breakaway golf tour ever since it came into existence a few years ago, threatening the very foundations of the sport. “If LIV Golf was the last place to play golf on Earth, I would retire. “I’d play the majors, but I’d be pretty comfortable.”CNN has reached out to LIV Golf and the PGA Tour to offer them the right of reply. Earlier this week, witnesses – including PGA Tour Chief Operating Officer Ron Price and Jimmy Dunne, a company board member who helped broker the deal – faced scrutiny from committee members over the deal. “As long as I get to play golf, I’m happy.

Persons: Rory McIlroy, LIV, “, McIlroy, LIV Golf, ”, Tiger Woods, –, Ron Price, Jimmy Dunne, Richard Blumenthal, Price, Dunne, Sen, ” Dunne, ” McIlroy, Gregory Shamus, Randall Stephenson, ” Stephenson, Jamal Khashoggi, Mohammed bin Salman, Khashoggi, Salman, ’ ’ McIlroy, I’ve, there’s Organizations: CNN, LIV, PGA, Scottish, Saudi Public Investment Fund, LIV Golf, US, Homeland Security, Governmental Affairs, Connecticut Democrat, RBC Canadian Locations: Saudi, American, Connecticut, Saudi Arabia

SummaryLaw Firms FTX founder allegedly misappropriated customer funds for European acquisitionFTX failed to find a buyer for the company in bankruptcy saleNEW YORK, July 13 (Reuters) - Bankrupt crypto exchange FTX sued insiders at FTX Europe AG late Wednesday, seeking to recover $323 million that FTX had invested in an ill-fated expansion into European crypto markets. After FTX filed for bankruptcy in November, it sought to sell FTX Europe, only to conclude that no buyer would offer meaningful value for the company, according to FTX. FTX acquired Digital Assets for nearly $400 million in three transactions in 2020 and 2021, hoping to obtain regulatory approvals and expand into European markets. FTX filed for bankruptcy protection in November, saying it was unable to completely repay customers who had deposited funds on its exchange. Prosecutors have charged Bankman-Fried, 31, with stealing billions of dollars in FTX customer funds to cover losses at its affiliated hedge fund Alameda Research.

Persons: FTX, Sam Bankman, Patrick Gruhn, Robin Matzke, Brandon Williams, Cosima Capital, Williams, Fried, Gruhn, Steven Holley, Stephen Ehrenberg, Brian Glueckstein, Christopher Dunne of Sullivan, Cromwell, Read, Clinton, Dietrich Knauth Organizations: FTX, AG, DA AG, Assets, Matzke, Gruhn, Prosecutors, Alameda Research, Trading, Bankruptcy, District of, Cromwell LLP, Thomson Locations: Zurich, Switzerland, Europe, Delaware, Matzke, Oregon, Alameda, U.S, District of Delaware

☆ The global golf megamerger looks even more confounding after a 3-hour grilling in front of Congress
▼ + stars: | 2023-07-12 | by ( Cork Gaines | ) www.businessinsider.com time to read: +5 min

Big questions remain, especially as to why the PGA Tour took the Saudi money without looking elsewhere. The PGA Tour's deal with LIV Golf and Saudi Arabia's Public Investment Fund (PIF) is just an agreement to seek an agreement. This all started when LIV Golf, with golf legend Greg Norman at the lead, started offering PGA Tour players vast sums of money to jump to the new Saudi-backed golf league. The PGA Tour, a non-profit, just did not have the resources to compete with the deep pockets of the Saudis. PGA Tour Commissioner Jay Monahan has yet to testify before Congress.

Persons: LIV Golf, Greg Norman, Sergio Garcia, LIV, Chris Trotman, Sen, Richard Blumenthal, Conn, Tom Williams, Jodi Balsam, Balsam, Jay Monahan, Rob Carr, Jimmy Dunne, Eamon Lynch, Golfweek, Lynch, It's Organizations: Service, LIV, Tour, PGA Tour, Saudi Arabia's Public Investment Fund, PGA, Royal Greens, & Country Club, King Abdullah Economic, Inc, Getty, Brooklyn Law School, NBA Locations: Wall, Silicon, Saudi, Jeddah, King Abdullah, King Abdullah Economic City, Saudi Arabia, PIF

☆ The wildest demand Saudi Arabia made as part of its potential investment (takeover?) in the PGA Tour: get LIV Golf's Saudi boss a Masters green jacket
▼ + stars: | 2023-07-12 | by ( Cork Gaines | ) www.businessinsider.com time to read: +5 min

Congress grilled the PGA about its bid to merge with LIV Golf and accept Saudi Arabian investment. As PGA Tour board member Jimmy Dunne put it, "There is simply an agreement to try to get to an agreement." LIV Golf would only play in the fall and not overlap with the heart of the PGA Tour season. What makes the demand even stranger is that the PGA Tour almost certainly does not have the power to grant this. After all, despite the initial fight between the PGA Tour and LIV Golf, none of the defecting players were being withheld from competing in the majors.

Persons: LIV Golf, LIV, LIV Golfand, Jimmy Dunne, Woods, Rory McIlroy, Yasir Al, PIF, Donald Trump, Greg Norman, Chris Trotman, St Andrews, Andrews, Stephanie Asymkos, Augusta Organizations: Augusta National, PGA, Service, PGA Tour, LIV Golf, Investigations, Saudi Arabian Public Investment Fund, LIV, Aramco, Congress, Augusta National Golf, Getty, Augusta National Golf Cub, Golf, St, — Augusta National, Augusta, Uber, Microsoft, Boeing, Disney, English Premier League soccer, Newcastle United, Al, Wall Street Locations: Saudi, Wall, Silicon, Saudi Arabia, St

☆ Fine wine is souring as investment prices sink
▼ + stars: | 2023-07-12 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Fine wine prices have been rising consistently for years, attracting investors looking to hedge against inflation, economic turmoil and stocks. The company currently manages $375 million worth of fine wine assets (that’s a 45% increase year on year). Fine wine has had a compound annual growth rate of 10% over the last 30 years, according to the Liv-Ex investables index, which tracks the going rates for fine wines. Leading the way in losses is Bordeaux, which experienced the largest drop of all fine wine categories in June. That’s a bit worrisome, said Tiwari, as Bordeaux is the most established region in the fine wine investment market and typically maintains its price stability.

Persons: Jay, David Beckham, Stephen Curry, Liv, ”, Atul Tiwari, That’s, Tiwari, SVB, Rob McMillan, “, we’re, LIV Golf, Chris Isidore, Richard Blumenthal, Ron Price, Jimmy Dunne, Sen, ” Dunne, LIV, Clare Duffy, Clare Organizations: CNN Business, Bell, New York CNN, Cult Wines, SEC, First Citizens Bank, “, PGA Tour, Saudi, PGA, Connecticut Democrat, University of Pennsylvania Locations: New York, Bordeaux, London, Silicon, Napa, California, “ California, Saudi, American, Connecticut, Clare

☆ Olivia Dunne made $500,000 from a single NIL deal. Here's how she became the highest-paid female college athlete.
▼ + stars: | 2023-07-11 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +3 min

The gymnast started a collective at LSU to create more NIL opportunities for female athletes. Read more about why college athletes are the 'best performing subset of influencers' for brandsDunne is an outlier with her multi-million dollar income, however. She also founded in July the Livvy Fund at LSU to bring more NIL opportunities to the school's female athletes. Collectives, which are donor-funded groups that help college athletes build their brands, make up 80% of all NIL deals. "Most of the collectives, the NIL collectives, they go to the men's sports, so I'm creating my own collective for the women's sports," Dunne told "Full Send."

Persons: Olivia Dunne, On3, Dunne, " Dunne, Captiv8, she's, Read, haven't Organizations: NCAA, LSU, Morning, Louisiana State University, ESPN, BodyArmor, Sports Illustrated, Motorola, Twitter, Fund Locations: Instagram, Canada

☆ PGA official pledges golfers will be able to criticize Saudi Arabia if the tour merges with the Saudi-backed LIV Golf
▼ + stars: | 2023-07-11 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +5 min

A top PGA official said golfers would still be able to criticize Saudi Arabia if the tour merges with LIV Golf. Blumenthal also accused the PGA of selling out to the controversial Saudi league. Blumenthal pointed to the fact that initial agreement between the PGA and LIV Golf has a broad non-disparagement clause. Blumenthal cited this record in calling out the PGA for selling out for the LIV merger. He and PGA Tour member Jimmy Dunne, who helped broker an initial agreement with LIV Golf, also repeatedly stressed that the PGA felt it had little choice but to try to find as peace with LIV.

Persons: LIV Golf, Democratic Sen, Richard Blumenthal, Blumenthal, Ron Price, Price, Sen, LIV, Prince Mohammed bin Salman, Jamal Khashoggi, Khashoggi, Jimmy Dunne, Ron Johnson, Johnson Organizations: Democratic, Saudi, Service, PGA, Connecticut Democrat, Public Investment Fund, FIFA, Amnesty, MBS, Washington, Wilson, Republican Locations: Saudi Arabia, Wall, Silicon, of Saudi Arabia, Saudi, Qatar

☆ Saudi adviser proposed giving Tiger Woods and Rory McIlroy ownership of LIV Golf teams, documents show
▼ + stars: | 2023-07-11 | by ( Wayne Sterling | ) edition.cnn.com time to read: +2 min

CNN —Prior to a truce between the PGA Tour and LIV Golf last month, an adviser to the Saudi Public Investment Fund proposed that Tiger Woods and Rory McIlroy could own LIV Golf teams and play in the Saudi-backed tour, according to a 276-page report released by the US Senate Permanent Subcommittee on Investigations on Tuesday. In an April 26 meeting, PCP Capital Partners, a Saudi PIF adviser, presented a slideshow to PGA Tour board member Jimmy Dunne and PGA Tour Policy Board Chairman Edward Herlihy entitled “The Best of Both Worlds.”The slideshow proposed that McIlroy and Woods would own LIV Golf teams and participate in at least 10 LIV Golf events, documents showed. A May 24 email also revealed PGA Tour officials intended to fire LIV Golf CEO Greg Norman after the merger. Norman has been an advocate for the rival Saudi tour and a fierce public critic of the PGA Tour. The framework agreement between the Saudis and the PGA Tour needs to be approved by the PGA Tour’s 10-member policy board.

Persons: LIV, Woods, Rory McIlroy, Jimmy Dunne, Edward Herlihy, McIlroy, Yasir Al, Greg Norman, Norman, Jay Monahan’s, PIF, Roger Devlin, Dunne, Delvin, Rumayyan, ” Devlin, Devlin, “, McIlroy “ Organizations: CNN, PGA, Saudi Public Investment Fund, LIV Golf, US, Capital Partners, Tour, Augusta National, International Golf Federation, Saudi, PGA Tour, LIV, Fund, Al Locations: Saudi, Saudi Arabia, Dubai, Rumayyan

☆ PGA officials say they had no choice but to reach deal with the Saudis
▼ + stars: | 2023-07-11 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN —Two top officials of the PGA Tour said the sport’s governing body had no choice but to reach a truce in its yearlong battle with LIV Golf and try to reach a merger with the Saudi-funded tour. But Ron Price, the chief operating officer of the PGA Tour, and Jimmy Dunne, a board member of the tour’s governing body, both said that the framework of the planned merger was the best chance to allow the PGA Tour to keep some measure of control over the sport. He pointed out that the Saudi Public Investment Fund, which is funding LIV Golf, has 500 times the financial resources as the PGA Tour. “It would be grossly unfair to expect the PGA Tour to bear the full burden of holding Saudi Arabia accountable. The committee released a 276 page report with details of the legal battle and the negotiations between LIV and the PGA Tour.

Persons: LIV Golf, “, ”, Richard Blumenthal, Ron Price, Jimmy Dunne, Sen, ” Dunne, LIV, Price, Ron Johnson of, it’s, ” Johnson, Blumenthal, Roger Devlin, Dunne, ” Blumenthal, “ It’s, … Organizations: New, New York CNN, PGA Tour, Saudi, PGA, Connecticut Democrat, Republican, Saudi Public Investment Fund, Saudi Public Investment, ” Locations: New York, Saudi, American, Connecticut, Ron Johnson of Wisconsin, Saudi Arabia, British, “

The PGA Tour on Tuesday defended its controversial deal with the Saudi-backed LIV Golf league before senators, as scrutiny of the agreement intensifies. Representatives from LIV Tour and Saudi Arabia's Public Investment Fund wasn't present at the hearing because CEO Greg Norman is out of the country, according to a spokesperson. PGA Tour operating chief Ron Price and policy board independent director Jimmy Dunne testified before the Senate Homeland Security Committee's subcomittee on investigations. Dunne and Price said they believed the PGA Tour would benefit the most from the proposed deal. The PGA Tour would manage competitions, and has said it is leading the negotiations to reach a finalized deal.

Persons: LIV, Greg Norman, Ron Price, Jimmy Dunne, Dunne, Price, Yasir Al, Rumayyan, Sen, Richard Blumenthal, Conn, It's, Blumenthal, Norman, Ron Johnson, Johnson, CNBC's Organizations: LIV Golf, LIV Tour, Saudi Arabia's Public Investment Fund, PGA Tour, Senate Homeland Security, Comcast, Paramount Global, Disney, Warner Bros, Capitol, PIF Locations: Saudi, American, Yemen

☆ PGA Tour defends LIV Golf deal ahead of Senate hearing
▼ + stars: | 2023-07-10 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +6 min

Streeter Lecka | Getty ImagesThe PGA Tour has begun its public defense of its deal with Saudi-backed LIV Golf ahead of a key Senate hearing slated for this week. "Given the well-chronicled legal disputes that have existed between the PGA Tour and PIF, we understand the fair and valid questions raised by PGA Tour members, Tour partners, media, fans and now Congress," Price said in the op-ed. Stephenson stepped down as lawmakers appeared likely to start a broad probe into the merger between the PGA Tour and LIV, beginning with Tuesday's Senate hearing. Defending the dealLast month, the PGA Tour and PIF's LIV Golf, as well as Europe's DP World Tour, agreed to merge. The majority of the board that leads the PGA Tour Enterprises will be appointed by the tour and run by Monahan.

Persons: Streeter Lecka, LIV Golf, Ron Price, Price, Randall Stephenson, Stephenson, LIV, Sen, Richard Blumenthal, Ron Johnson, Jay Monahan, Jimmy Dunne, Monahan, Richard Heathcote, Rory McIlroy — Organizations: THE, Sawgrass, Saudi, Athletic, Monday, PGA, PGA Tour, AT, Senate, Senate Homeland Security, Investigations, Saudi Public Investment Fund, Getty, Saudi Arabia Public Investment, PIF Locations: Ponte Vedra Beach , Florida, Saudi, United States, Monday's

Price and Dunne may also be asked about the weekend resignation of Randall Stephenson from the tour’s board after more than a decade. The sport’s leaders have often handled their business in Washington behind closed doors, relying on a fount of good will and gentility. The tour faced a significant threat in the 1990s, when the Federal Trade Commission examined antitrust issues in golf before its inquiry fizzled amid a pressure campaign from Capitol Hill. But baseball has drawn much of the attention from Congress, like when senators called a 1958 hearing on antitrust exemptions. (“Stengelese Is Baffling to Senators,” read a subsequent headline in The New York Times, which reported that Yankees Manager Casey Stengel had lawmakers “confused but laughing.”)

Persons: Price, Dunne, Randall Stephenson, Stephenson, Jamal Khashoggi, ”, Travis Tygart, Arnold Palmer, Dwight D, Eisenhower, Jack Nicklaus, Biden, Casey Stengel, “ Organizations: AT, Saudi, Washington Post, U.S, Doping Agency, Federal Trade Commission, Capitol, Lawmakers, football’s, ”, New York Times, Yankees Locations: Washington, Capitol Hill

☆ Two PGA tour officials to testify to US Senate panel about merger with Saudi-backed LIV
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +2 min

[1/2] May 25, 2023; Washington, DC, USA; Patrick Reed hits his tee shot on the ninth hole during the Pro-Am tournament as part of the LIV Golf Washington D.C. 2023 event at Trump National Golf Club outside Washington DC. Mandatory Credit: Geoff Burke-USA TODAY Sports/File PhotoWASHINGTON, July 3 (Reuters) - Two PGA Tour officials have agreed to testify before a U.S. Senate panel next week about the tour's merger with Saudi-backed LIV Golf, but LIV officials declined to appear, lawmakers said on Monday. The PGA Tour, DP World Tour and rival Saudi-backed LIV circuit, which had been involved in a bitter fight that split the sport, announced an agreement in early June to merge and form a unified commercial entity. The LIV Golf series is bankrolled by the Saudi Arabia Public Investment Fund (PIV). Blumenthal and Johnson said they had asked Greg Norman, CEO of LIV Golf, and Yasir al-Rumayyan, governor of the Saudi Public Investment Fund which backs LIV, to testify, but they had declined because of scheduling conflicts.

Persons: Patrick Reed, Geoff Burke, LIV Golf, LIV, Ron Price, Jimmy Dunne, Richard Blumenthal, Ron Johnson, Critics, Blumenthal, Johnson, Greg Norman, Yasir al, Norman, Diane Bartz, Jonathan Oatis, Leslie Adler Organizations: LIV Golf, Trump National Golf Club, Washington DC, USA, WASHINGTON, Senate, Saudi, PGA Tour, Investigations, Saudi Arabia Public Investment Fund, PGA, Saudi Public Investment Fund, Public Investment Fund, Thomson Locations: Washington, DC, USA, LIV Golf Washington, Saudi

☆ 2 top PGA officials will testify before Congress about the golf league's controversial merger with the Saudi-backed LIV tour
▼ + stars: | 2023-07-03 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

Two top PGA officials will testify before Congress about the association's controversial merger. Tour COO Rob Price is among the officials that will testify before a Senate subcommittee on July 11. "We look forward to appearing before the Senate Subcommittee to answer their questions about the framework agreement that keeps the PGA TOUR as the leader of professional golf's future and benefits our players, our fans, and our sport," PGA Tour spokesperson Joel Schuchmann said in a statement to Insider. Norman played an integral role in LIV golf, enduring public criticism for taking on the PGA and partnering with Al-Rumayyan. "In fact, prior to this agreement, PGA Tour was one of the loudest critics of LIV Golf's affiliation with Saudi Arabi."

Persons: Rob Price, Democratic Sen, Richard Blumenthal, —, LIV, Sen, Ron Johnson, Jimmy Dunne, Joel Schuchmann, Blumenthal, Johnson, bin Othman Al, Greg Norman, Norman, Chris Murphy, Jay Monahan, LIV Golf's, Tiger Woods, Woods Organizations: Democratic, Service, Capitol, Republican, PGA, Al, LIV, Saudi, Connecticut Democrat, Twitter Locations: Saudi, LIV, American, Connecticut, Saudi Arabi

☆ The Fed is secretly stress testing the US economy against nightmare scenarios
▼ + stars: | 2023-06-29 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

When asked how the Fed plans for the worst case scenarios on the geopolitical front, he first responded in Fedspeak. At every Fed policy meeting, he said, “our staff works up six or seven or eight alternative simulations,” he said. The market impact: The policy scenarios considered by the Fed are quite sensitive. That’s likely why when Powell was asked about the scenarios the Fed had most recently considered, he stayed mum. They’re posting elaborate TikToks where they pretend that the McDonald’s Grimace shake has killed them, of course.

Persons: Jerome Powell, Powell didn’t, ”, they’re, Joe Brusuelas, Stacey Tevlin, Ben Bernanke, Philippa Dunne, “, Danielle DiMartino Booth, That’s, Powell, “ I’m, Joe Biden, Biden, “ Bidenomics, Elisabeth Buchwald, Bryan Mena, Read, McDonald’s, Scottie Andrew, Grimace’s, Ronald McDonald, Andrews, it’s, Matthew Prince, “ It’s Organizations: New, New York CNN — Federal, European Central Bank, Federal, RSM, “, Fed, Bloomberg, TLR, QI Research, Federal Reserve, Chapman University, CNN Locations: New York, Portugal, Fedspeak, China, Chicago, America, California, ”

Editor’s Note: A version of this story appears in CNN’s Meanwhile in the Middle East newsletter, a three-times-a-week look inside the region’s biggest stories. The findings show that support for China has gradually risen over the years as Beijing expands its footprint in the region. Of those polled, 61% said they support US disengagement from the Middle East, with most support for this being recorded in North Africa and the Levant. It also ranks third among those countries Arabs consider an enemy this year, replacing the US which held that position last year, but now ranks fifth. Russia’s involvement in conflicts across the Middle East may be responsible for the drop in its popularity, said Jacobs.

Persons: UAE CNN —, ASDA’A, ”, Anna Jacobs, ” Young, Charles Dunne, “, ” “, Jacobs, Mahmoud Abbas, Abbas, Biden, Benjamin Netanyahu, “ Biden, Dunne, – Organizations: UAE CNN, Group, Israel, CNN, EU, Palestinian, White House Locations: Abu Dhabi, UAE, China, United States, Dubai, Beijing, Russia, Turkey, North Africa, Levant, Ukraine, multipolarity, Gulf, Saudi Arabia, East, Iran, Israel

☆ PGA merger with LIV a delicate balancing act, says board member Dunne
▼ + stars: | 2023-06-09 | by ( ) www.reuters.com time to read: +2 min

June 9 (Reuters) - The PGA Tour faces a delicate balancing act in welcoming back LIV Golf players while also ensuring those who stayed loyal to the U.S.-based circuit "feel good" about their decision, PGA Tour board member Jimmy Dunne said. "We have to make sure that whatever it is that we finalise, that they feel good about their decisions (to remain on the PGA Tour)... I don't think it's going to be easy and I don't think we're all going to agree, but I think we can get there." Dunne, who helped broker the merger, also said the PGA Tour was ready to "walk away" if they felt there was anything that would have hurt the game. He added the Saudi Public Investment Fund (PIF) would not control the professional game, especially with PGA Tour Commissioner Jay Monahan installed as CEO of the new entity.

Persons: LIV, Jimmy Dunne, LIV Golf, Rory McIlroy, Dunne, didn't, Jay Monahan, Rohith Nair, Toby Davis Organizations: Tour, LIV Golf, PGA, Golf, Saudi Public Investment Fund, Thomson Locations: U.S, Saudi, Bengaluru

☆ Georgia slot machine company enters bankruptcy to cut $500 million debt
▼ + stars: | 2023-06-09 | by ( Dietrich Knauth | ) www.reuters.com time to read: +3 min

Georgia law places strict limits on slot machines, prohibiting cash winnings, and preventing locations like gas stations and convenience stores from having more than nine slot machines or deriving more than 50% of their revenue from slot machines, according to the company. Headquartered in Norcross, Georgia, Lucky Bucks operates in 345 locations throughout Georgia with approximately 2,300 slot machines. Before filing for bankruptcy, Lucky Bucks had lobbied for a Georgia law that would have protected slot machine operators from “predatory” competition. The proposed bill, which was not passed by Georgia’s legislature, would have prevented a new slot machine from being installed in the nine months following the removal of a different company's slot machine. The case is Lucky Bucks Inc, U.S. Bankruptcy Court for the District of Delaware, No.

Persons: Bucks, Georgia Lucky, Lucky Bucks, James Boyden, Lucky, Dennis Dunne, Tyson Lomazow, Russell Silberglied, Richards, Layton, Dietrich Knauth Organizations: Company, Georgia Lucky Bucks, YORK, Lucky, Bucks, Lucky Bucks, Trive, Seven Aces, Lucky Bucks Inc, Bankruptcy, District of, Milbank LLP, Diebold, Atlantic City, Thomson, & $ Locations: Georgia, Wilmington , Delaware, Norcross , Georgia, Georgia’s, District of Delaware

☆ Joan Didion, RFK’s Assassination and Why “The White Album” Still Feels So Relevant Today. - The New York Times
▼ + stars: | 2023-06-08 | by ( Timothy Denevi | ) www.nytimes.com time to read: +2 min

But many of the specific stories she alludes to in the essay have remained maddeningly opaque. Precisely what prompted her physical breakdown, as well as her terse reference to Kennedy’s funeral, have long been the subject of speculation for Didionologists. “What was she doing at the Royal Hawaiian Hotel during Robert Kennedy’s funeral?” Tracy Daugherty wrote in “The Last Love Song,” his 2015 biography of Ms. Didion. What is the point of teasing us with the hotel if not to deliberately disorient the reader?”Now we finally know the answer. (A transcript, processed in 2019, can also be found in the New York City Public Library’s collection of Ms. Stein’s papers.)

Persons: There’s, Joan Didion’s, Robert Kennedy’s, “, Didion, ”, Didion’s, —, ” Tracy Daugherty, John Gregory Dunne, Jean Stein, Robert Kennedy, John F Organizations: Hawaiian Hotel, Hawaiian, Kennedy Presidential Library and Museum, New York Locations: Honolulu, ”

Golf becomes a geopolitical trophyThe shock news that the PGA Tour plans to join forces with LIV Golf, the upstart circuit that it has spent the past year feuding with, rattled the normally staid world of golf. Saudi Arabia, LIV’s backer, now stands to hold enormous sway over golf, as it invests billions to extend its presence throughout pro sports — and beyond. It’s an additional sign of how the kingdom is seeking to assert its role as a growing geopolitical and global business power. Covert jet-setting talks led to the golf deal. Those on the Saudi side included the banker Michael Klein, a longtime adviser to the kingdom.

Persons: LIV Golf, LIV, Jay Monahan, Ed Herlihy, Wachtell, Jimmy Dunne, Piper Sandler, Michael Klein Organizations: PGA Tour, PGA, Allen & Company Locations: Saudi Arabia, what’s, Saudi

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