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☆ U.K. Billionaire Bidding for Manchester United Plots a U.S. Expansion
▼ + stars: | 2023-03-18 | by ( Jenny Strasburg | ) www.wsj.com time to read: 1 min

Ineos founder and chairman Jim Ratcliffe, in Monte Carlo last summer. K. billionaire Jim Ratcliffe has built one of the world’s most unconventional conglomerates, a sprawling collection of assets that includes a global chemicals business and baubles like a centuries-old London pub and a luxury British fashion brand. Now the 70-year-old tycoon, who was knighted in his home country but isn’t as well known outside of Europe, is making a deeper push into the U.S. market.

☆ Insiders were stepping up and buying this week at these regional banks and niche financials
▼ + stars: | 2023-03-17 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

The banking crisis drove regional bank stocks sharply lower this week, but many insiders took advantage of the turmoil to scoop up shares of their own institutions in what may prove a vote of confidence. Shares of regional banks slumped as the collapse of Silicon Valley Bank left investors worried that other regional banks might face similar balance sheet issues, a possible mismatch between long-dated assets and short-dated liabilities. Regional banks had regained some ground Thursday in anticipation of a group of 11 banks stepping in to First Republic by depositing $30 billion for at least 120 days . Charles Schwab Notably, Charles Schwab CEO Walt Bettinger bought 50,000 shares Tuesday, worth nearly $3 million, for his personal account. Valley National Bancorp Ira Robbins (CEO) bought 5,000 shares Wednesday Jennifer Steans (Director) bought 150,000 shares Tuesday Eric Edelstein (Director) bought 20,000 shares Tuesday Melissa Schultz (Director) bought 15,000 shares Tuesday Jeffrey Wilks (Director) bought 8,000 shares Tuesday Marc Lenner (Director) bought 5,000 shares Tuesday Suresh Sani (Director) bought 5,000 shares Tuesday Valley National Bancorp saw a rush of insider buying this week, including purchases by its CEO and several directors.

☆ Instagram and Facebook will pause their Reels Play bonus programs that paid creators in the US
▼ + stars: | 2023-03-09 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +3 min

Meta will pause its Reels Play bonus programs on Instagram and Facebook in the US. The Reels Play bonus was one of many tools Meta had rolled out to pay creators. Meta will be pausing its US Reels Play bonus, a program that paid creators a monthly sum for accumulating views on their Reels. "We will stop extending new and renewed Reels Play deals for creators on Facebook and for US creators on Instagram at this time." The Reels Play bonus had been one of the main ways creators could monetize their short-form video content on Instagram.

☆ A flight attendant’s secrets to surviving long-haul flights
▼ + stars: | 2023-03-01 | by ( Francesca Street | ) edition.cnn.com time to read: +19 min

CNN —Any air travel can be stressful, but facing down a long-haul flight can be especially intimidating. Flight attendants on long-haul flights are provided with spaces to rest. Flight attendants need to be alert throughout the journey, so they will take it in turns to refuel via mid-flight power naps. Flight attendants will greet a returning colleague with a cup of tea or coffee. For flight attendants, Major says, that will involve working over periods in excess of 24 hours.

Persons: Kris, He’s, he’s, Major, they’re, they’ve, ”, isn’t, Kris Major, Chris Ratcliffe, you’re, there’s, “, ” Major, it’s, don’t, you’ve, can’t, reckons, Nick Morrish, ’, I’ve, It’s, he’ll, “ I’ll, ’ I’ll, Patrick T, ” Major’s, Major’s, “ You’re, ” It’s, “ We’ve Organizations: CNN, CNN Travel, European Transport Workers, Business, Bloomberg, Getty, Boeing, Boeing Crew, ” Airlines, British Airways, Fallon, Gatwick, Singapore Airlines ’, Qantas Locations: British, New York, London, “, Here's, Cairns, Brisbane, Sydney, Abu Dhabi, Vienna, Frankfurt, York, Singapore, Australia

☆ MSC, world's biggest shipping company and U.S.-China trade bellwether, isn't talking like a recession is coming for economy
▼ + stars: | 2023-03-01 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

"The return post-Chinese New Year has been positive," Toft said. SONAR FreightWaves data shows the slow pick up in global freight orders post-Chinese New Year. Ocean freight rates, which were the largest inflationary pressure on products, have dropped sharply back to pre-pandemic levels. Rejections for ocean freight have increased, which means containers filled with product for the current or upcoming season are delayed. At a time when ocean carriers are increasingly canceling sailings because of the decrease in ocean freight orders, MSC has responded by increasing the size of its fleet.

☆ Manchester United stock sinks 13.5% on a report that it's probably worth billions less than what its owners want to sell it for
▼ + stars: | 2023-02-27 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Manchester United stock fell as mush as 13.5% after a report suggested that it's worth billions less than the club's owners are seeking. A Financial Times analysis indicated that United's value is likely to be around $1.6 billion. The club's owners, the Glazer family, reportedly want at least $6 billion, per The Athletic. But an analysis by the Financial Times suggested the team's value is much lower — likely around $1.6 billion. The $1.6 billion valuation may ignore the intrinsic value of owning one of the sport's most notable franchises and brands as well.

☆ INEOS Quattro to raise 750 mln euros from loans, pay dividend
▼ + stars: | 2023-02-24 | by ( Chiara Elisei | ) www.reuters.com time to read: +1 min

LONDON, Feb 24 (Reuters) - Chemicals company INEOS Quattro is planning to raise 750 million euros ($794 million) from the sale of two loans, according to a lead manager memo seen by Reuters on Friday. The seven-year financing - which comprises a euro loan and a minimum $400 million loan - will fund a dividend payment and the rest will be used for general corporate purposes, the memo said. INEOS Quattro is owned by global chemical company INEOS, which is among the bidders for Manchester United. INEOS wants to fund an offer without external financing, but could consider bringing in a minority equity partner, Reuters reported earlier this week, citing a source. JP Morgan and Deutsche Bank are leading the new loan sale for INEOS Quattro, according to the memo.

LONDON, Feb 22 (Reuters) - Buyout financier Ares Management Corp (ARES.N) has been offering funds to support a takeover of Manchester United (MANU.N), three sources familiar with the matter told Reuters. It is the latest U.S. asset manager to seek a financing role in the battle for the English soccer club. It was unclear whether Ares has been looking to finance bids for Manchester United through that fund, which has already invested in Spain's Atletico de Madrid soccer club and Inter Miami CF, or another vehicle. Last Friday, Manchester United received indicative offers from bidders including chemicals firm INEOS, led by long-time fan Jim Ratcliffe, and Qatari Sheikh Jassim Bin Hamad Al Thani. INEOS wants to fund an offer without external financing, but could consider bringing in a minority equity partner, one source said.

☆ Chemical maker INEOS makes U.S. shale bet with $1.4 bln Chesapeake deal
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +2 min

[1/2] A Chesapeake Energy Corp worker walks past stacks of drill pipe needed to tap oil and gas trapped deeply in rock like shale at a Chesapeake oil drilling site on the Eagle Ford shale near Crystal City, Texas, June 6, 2011. REUTERS/Anna Driver/File PhotoFeb 21 (Reuters) - Chemical maker INEOS is entering into U.S. oil and gas production for the first time, agreeing to purchase assets in South Texas from Chesapeake Energy Corp (CHK.O) for $1.4 billion, the companies said on Tuesday. "Over the last two decades, U.S. onshore oil and gas production has provided security of supply for the global market and competitive advantage for U.S. industry," Brian Gilvary, chairman of INEOS Energy, said in a statement. The transaction, involving an area of around 172,000 net acres with average net daily production of about 36,000 barrels of oil equivalent, will also grant Chesapeake Energy a complete exit from the Eagle Ford shale basin. Proceeds from the deal will be used to repay debt and fund its share repurchase program.

☆ Morning Bid: Up, up and away
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +3 min

In Europe, money markets show that investors are already betting on a peak European Central Bank rate around 3.75% by late summer, up from levels around 3.4% earlier this month. Investors are unwinding earlier bets after a string of hawkish comments from policymakers, forcing European shares to retreat further from one-year highs. ECB officials have highlighted their fears about stubborn underlying inflation. Meanwhile, in a week when India hosts the year's first G20 finance and central bank chiefs meeting, from Feb. 22-25, tough global discussions over debt forgiveness for poor nations are going to get even trickier. Key developments that could influence markets on Monday:Economic data: Euro zone Feb consumer confidenceU.S. markets closedReporting by Anshuman Daga; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

☆ Liverpool owner Henry rules out sale of the club
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +1 min

Feb 20 (Reuters) - Liverpool's American owner John Henry has said there are no plans to sell the Premier League club after the Merseyside outfit's owners said in November they were exploring a sale. After FSG's initial statement, Liverpool chairman Tom Werner said there was no urgency to complete any potential deal. Are talking with investors about Liverpool? I believe so, but it won't be a sale. Reporting by Aadi Nair in Bengaluru; Editing by Ken FerrisOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. Hedge Fund Elliott to offer financing for Manchester United takeover bid
▼ + stars: | 2023-02-18 | by ( Peter Hall | ) www.reuters.com time to read: +1 min

Feb 18 (Reuters) - U.S.-based hedge fund giant Elliott Investment Management is planning to offer financing for a bid to take over Manchester United Plc (MANU.N), sources close to the matter told Reuters. The fund has ruled itself out of a full takeover of the Premier League soccer club, the source added on Saturday. It is unclear at this stage which bid Elliott, who owned Serie A champions AC Milan until last year, will be involved in. Elliott and United both declined to comment when approached by Reuters. British billionaire Jim Ratcliffe, a life-long United fan, and his company INEOS lodged an offer for a "majority ownership" of the club on Saturday.

☆ Ratcliffe's INEOS confirm bid for Manchester United
▼ + stars: | 2023-02-18 | by ( ) www.reuters.com time to read: +3 min

Feb 18 (Reuters) - Manchester United have received a bid from Jim Ratcliffe's company INEOS for "majority ownership" of the Premier League club, the chemical firm confirmed on Saturday, adding that it would look implement a fan-centred approach. British billionaire Ratcliffe, a life-long United fan and founder of INEOS, has previously openly expressed his interest in buying the Old Trafford club. "We would see our role as the long-term custodians of Manchester United on behalf of the fans and the wider community," INEOS said in a statement. "We are ambitious and highly competitive and would want to invest in Manchester United to make them the number one club in the world once again." "We want a Manchester United anchored in its proud history and roots in the North-West of England, putting the Manchester back into Manchester United and clearly focusing on winning the Champions League," the statement said.

☆ Soccer’s new M&A binge will mostly benefit players
▼ + stars: | 2023-02-17 | by ( Streisand Neto | ) www.reuters.com time to read: +3 min

A Qatari consortium is set to make a $6 billion offer for Man Utd, home to stars including Marcus Rashford, Bloomberg reported on Thursday. The Financial Times reported that Iranian-American billionaire Jahm Najafi is preparing a $3.8 billion swoop on Harry Kane’s Tottenham Hotspur. The Qataris’ reported Man Utd offer of $6 billion would value the New York-listed club at 8.6 times trailing revenue. Man Utd, whose financial advisers are U.S. investment bank Raine Group, has set an initial Feb. 17 deadline for bids. The Financial Times on Feb. 15 reported that Iranian-American billionaire Jahm Najafi was preparing a $3.8 billion offer for Tottenham Hotspur.

☆ Son of former Qatari PM bids for Manchester United
▼ + stars: | 2023-02-17 | by ( Anirban Sen | ) www.reuters.com time to read: +3 min

[1/2] Soccer Football - Premier League - Manchester United v West Ham United - Old Trafford, Manchester, Britain - July 22, 2020 General view of the corner flag inside the stadium before the match, as play resumes behind closed doors following the outbreak of the coronavirus disease (COVID-19) Martin Rickett/Pool via REUTERS. Feb 17 (Reuters) - Sheikh Jassim Bin Hamad Al Thani, a son of Qatar’s former prime minister, on Friday launched a bid to buy Premier League soccer club Manchester United, whose American owners launched a formal sale process late last year. A deal for United is expected to shatter records for the sale of a sports business. Sheikh Jassim is the son of Sheikh Hamad bin Jassim bin Jaber Al Thani, who is one of the richest men in the Gulf state. However, Qatari state investors, who own a stake in French champions Paris Saint-Germain, could face challenges structuring a takeover of Manchester United, as rules forbid two clubs with the same owner taking part in the lucrative Champions League.

☆ Investors recognising clubs' value ahead of Man Utd bids, says finance expert
▼ + stars: | 2023-02-17 | by ( Sophie Penney | ) www.reuters.com time to read: +3 min

United (MANU.N) are set to receive multiple offers ahead of the initial deadline for bids expiring later on Friday, kicking off potentially the largest sports deal ever. "Football is big, big business from an investment standpoint," said Joyce, CEO & co-founder of CLV Group. "The bar's been set in terms of the value of sports teams and football teams in particular as brands." FINANCIAL INCENTIVEThe Glazers bought United for 790 million pounds ($947 million) in 2005, and Joyce said there was plenty of financial incentive for them to sell the club. "We've looked at India and Indonesia as well where there's at least 100 million pounds plus.

Manchester United, INEOS, Tesla and Musk did not reply to requests for comment. "For potential buyers, football clubs like Manchester United are considered trophy assets driven by the perception of exclusivity. The size of that bid has fuelled speculation Manchester United will attract significantly more. Manchester United is the fourth richest soccer club in the world, according to analysis by Deloitte. A small portion of Manchester United shares is listed on the New York Stock Exchange.

☆ Saudi Arabia enters race for Manchester United - Telegraph
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +1 min

[1/2] Soccer Football - Premier League - Manchester United v West Ham United - Old Trafford, Manchester, Britain - January 22, 2022 General view of the corner flag inside the stadium before the match REUTERS/Phil NobleFeb 16 (Reuters) - Saudi Arabia has submitted a bid for British soccer club Manchester United PLC (MANU.N) ahead of Friday's deadline, the Telegraph reported on Thursday. A deal for the record 13-times English Premier League winners will likely exceed the biggest sports deal so far, the $5.2 billion - including debt and investments - paid for Chelsea, the sources added. Manchester United is the fourth richest soccer club in the world, according to analysis by Deloitte. A small portion of Manchester United shares is listed in the United States with a market capitalization of more than $4 billion, as of Wednesday's close. Reporting by Akash Sriram in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Biden aides briefed former Trump officials on the Chinese spy balloon intrusions the ex-president has claimed never happened
▼ + stars: | 2023-02-16 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +3 min

The Biden administration has briefed key former Trump administration officials on China's spy balloons. "It never happened with us under the Trump administration and if it did, we would have shot it down immediately," he said on Sunday. He referenced "recent balloon/"object" incidents," but nothing from the Trump administration. During a February 6 briefing, Kirby told reporters that the Chinese surveillance balloons transited US airspace "for brief periods of time" during the Trump administration. Biden officials reached out to key officials from the Trump administration to offer briefings on the forensics they did.

☆ Billionaire Najafi set to launch $3.75bn takeover bid for Spurs - source
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +1 min

Feb 15 (Reuters) - Iranian-American billionaire Jahm Najafi, chair of MSP Sports Capital, is set to launch a $3.75 billion takeover bid for Premier League soccer club Tottenham Hotspur, a source familiar with the matter told Reuters on Wednesday. Najafi is also a minority shareholder in the National Basketball Association team Phoenix Suns. Tottenham, currently managed by Antonio Conte, have 39 points after 23 games in the league this season and sit two points outside the top four. Other Premier League clubs such as Manchester United and Liverpool are also seeking investment, with Qatari investors preparing to make a bid to buy United while Jim Ratcliffe's company INEOS formally entered the bidding process last month. Reporting by Emma-Victoria Farr and Manasi Pathak; Editing by Alison Williams and Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.

☆ Qatari investors preparing imminent bid for Manchester United - Bloomberg
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +1 min

LONDON, Feb 13 (Reuters) - Qatari investors are preparing to make a bid to buy Premier League club Manchester United "in the coming days", Bloomberg reported on Monday, citing sources familiar with the deal. The report added that the consortium will submit an initial bid for the club by the end of the week, and that officials from the Qatar Investment Authority are helping with preparations for the bid. Reuters has contacted Manchester United for comment. read more read moreEarlier this month, the Daily Mail newspaper reported that Qatari investors are planning to make a huge bid to buy Premier League club Manchester United. (This story has been corrected to say Qatar Investment Authority, not Qatar Sports Investments, in paragraph 2)Reporting by Aadi Nair; Editing by Jan Harvey and Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.

[1/2] The suspected Chinese spy balloon drifts to the ocean after being shot down off the coast in Surfside Beach, South Carolina, U.S. February 4, 2023. REUTERS/Randall HillWASHINGTON, Feb 5 (Reuters) - The U.S. military said on Sunday it is searching for remnants of the suspected Chinese surveillance balloon it shot down the previous day, in a dramatic spy saga that has further strained American-Chinese relations. A successful recovery could potentially give the United States insight into China's spying capabilities, though U.S. officials have downplayed the balloon's impact on national security. Democrats said Biden's decision to wait to shoot down the balloon until it had passed over the United States protected civilians from debris crashing to Earth. The Pentagon will brief senators on the balloon and Chinese surveillance on Feb. 15, Schumer said.

☆ Republicans criticize Biden for waiting to shoot down Chinese balloon
▼ + stars: | 2023-02-05 | by ( David Lawder | ) www.reuters.com time to read: +5 min

[1/3] The suspected Chinese spy balloon drifts to the ocean after being shot down off the coast in Surfside Beach, South Carolina, U.S. February 4, 2023. Schumer said downing the balloon into the ocean likely enables U.S. intelligence officials to examine its remnants. The Pentagon will brief senators on the balloon and Chinese surveillance on Feb. 15, Schumer said. Trump on Sunday disputed Austin's statement that Chinese government surveillance balloons had transited the continental United States briefly three times during his presidency. Speaking on Fox News Channel's "Sunday Morning Futures" show, Trump's former director of national intelligence John Ratcliffe also denied such balloon incidents.

☆ Companies Rush to Trace Sprawling Supply Chains as Sustainability Rules Loom
▼ + stars: | 2023-01-24 | by ( Dieter Holger | ) www.wsj.com time to read: +5 min

The rules come as businesses, especially small and midsize companies, have a limited view of their supply chains and are struggling to broaden their oversight, sustainability analysts say. Imagine that in the landscape of supply chain,” said Tim Constable, partner at law firm Dentons advising companies on supply chains. There are a host of other regulatory developments threatening to affect companies’ supply chains. Photo: Chris Ratcliffe/Bloomberg NewsUnilever has a sprawling global supply chain, with around 54,000 suppliers in 150 countries. It doesn’t matter how sophisticated the program is.”Internet-of-things startups can go beyond aggregating data and instead track actual items.

United and Liverpool are the two most successful teams in English football but have won only one league title each in the past decade. "You get a lot of money from the Premier League, from broadcasting and sponsorship, but you also have to put a lot of money in to keep your team." "The failure of the proposal and the failure of Premier League clubs to gain greater power in the running of the league are likely influencing factors," said Spencer Harris, Associate Professor of Sport Management at the University of Colorado. "The current owners (of Liverpool and United) don't have the finances to compete and invest on the level of these other clubs." "(There is a) general realisation that English Premier League teams, the two biggest ones per se, are relatively uncapitalized versus NFL franchises, which have been a barometer for a longer period of time."

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