MoneyWeek

Media rights for the Indian Premier League cricket competition have sold for $6.2bn for five years, says Variety. Disney paid $3.01bn for TV rights, billionaire Mukesh Ambani paid $3.05bn for streaming rights, and rights outside India sold for $135m.

Chinese internet firm NetEase saw its shares drop 8% on Monday after one of its social-media accounts made a mocking reference to Chinese president Xi Jinping, says the Financial Times. A post on the Weibo account for the Diablo Immortal game read “W

US mortgage rates have surged to their highest level since November 2008, says The Wall Street Journal. While US interest rates have risen by 1.5 percentage points so far this year, the average rate on a 30-year fixed mortgage is up even more, rising

“The average stock in the Nasdaq… is down 40%-50% from peak levels, with many down much more than that. The fever dreams of many investors have already been completely decimated… Despite these stock price declines, I do not believe that equity market

A mooted £1.6bn private equity bid for Euromoney is “more proof there’s value in Britain’s stockmarkets”, says Alistair Osborne in The Times. The business media, data and events group had previously rejected four offers from Astorg and Epiris at betw

“Wall Street can only apply so much cover-up and blush to a broken capital structure”, says Lex in the Financial Times. American cosmetics group Revlon is now past that point. The firm has entered Chapter 11 bankruptcy after a prolonged period of und

The Swiss National Bank (SNB) has raised interest rates for the first time since 2007. The 0.5% increase – which took rates from -0.75% to -0.25% – surprised traders last week, sending the currency up 3% against the dollar, its biggest one-day gain i

Adidas trades at a discount to its main rival Nike, despite growing its annual net income faster for most of the past decade. Its strong brand identity could position it well in a recession. Prolonged lockdowns in China are hurting demand in Asia, bu

“Fast fashion is a throwaway business. But aren’t the shares meant to be more durable than the clothes? Asos seems hell-bent on testing that theory. Its market value is unravelling even faster than its togs,” says Alistair Obsorne in The Times. Share

A world powered by electricity rather than fossil fuels needs a large and resilient power grid, says Avi Salzman in Barron’s. Building this will require hundreds of billions of dollars in investment – and that’s a great opportunity for Eaton, which m

The value of initial public offerings (IPOs) in the US and Europe is down 90% from last year, says the Financial Times. A total of 628 companies raised $192bn in the first five months of 2021, while only 157 firms have raised $17.9bn in the same peri

The World Trade Organisation “looks to be back in business” after agreeing a package of deals last week, including a partial waiver on Covid vaccine patents and cuts to fishing subsidies, say Markus Wagner and Welhuan Zhou in The Conversation. It was

Boris Johnson’s ethics adviser Christopher Geidt quit last week over concerns that the prime minister intended to deliberately breach the ministerial code, says Jim Pickard in the Financial Times. Geidt’s “surprise” exit came after only 14 months on

Deadly tug-of-war, murderous marbles and an innocent game of grandmother’s footsteps turned into a bloodbath by a gun-toting robot – these are the horrors of Netflix’s hit dystopian drama Squid Game, where poor contestants compete for a huge wad of c

The British economy looks in dire trouble right now. We have already seen two consecutive months of falling output, and there is no reason to expect that trend to be reversed any time soon. Inflation is running at 9%, pushing down real wages at the f

Not so grrreat: “Kellogg is joining the corporate vogue for splitting itself in three,” says Dasha Afanasieva on Breakingviews. The US food company plans to spin off its North American cereals business and its plant-based foods arm as two separate co

EasyJet wants to depict its problems with last-minute cancellations and delays as an industry-wide issue, but the firm “has handled things especially badly”, says Cat Rutter Pooley in the Financial Times: last week, it cancelled 146 UK departures. “Y

“Marking to market” simply means updating the value of an asset or a portfolio of assets to reflect the latest available prices for said assets. This is easy to do when assets are publicly listed, highly liquid (easily bought and sold) and fungible (

Private equity has grown ever more popular in recent years. But its touted benefits are set to be tested John Stepek Executive editor Private equity – put simply, investing in companies that aren’t publicly listed – has grown in popularity as an a

“The liquidity-led stock market boom... peaked over a year ago in February 2021, with the start in the fall of ‘meme’ stocks… Central bankers are now, belatedly, attempting to remove the punch bowl by raising interest rates from record low levels,” n

“When I left school I set out to get a job and earn good money if I could. I’m no different from anyone else. Some people think making all this money is uncool. I don’t. I’m trying to do what I do to the very best of my ability. I’m not embarrassed i

Editorial The Economist Russian missiles and artillery have destroyed Ukrainian towns, smashed stations, ports and telecoms towers, hit more than 1,000 schools and damaged roads and agricultural land, says The Economist. The cost of rebuilding th

glineq.blogspot.com If you measure success by the extent to which stated objectives have been realised, Russia’s war with Ukraine has been a failure, says Branko Milanovic. But what if the stated objectives weren’t the real ones? Countries and thei

bigthink.com Nineteenth-century Russian writers were “obsessed” with the idea of utopia, says Tim Brinkhof. They wrote stories and treatises imagining how their own increasingly dysfunctional society could be replaced by one “devoid of suffering or

unherd.com/thepost Investors are starting to wake up to the reality of slumping stockmarkets, economic recession, rising interest rates and permanently impaired supply chains, says Philip Pilkington. An overlooked consequence is that we are heading

US package delivery firm FedEx’s share price had its biggest one-day gain in around 36 years after the company announced it was increasing its quarterly dividend by 53% as part of a deal with activist investor D.E. Shaw, says MarketWatch. The D.E. Sh

■ Investors in some funds might be losing out on revenues the funds make from lending out securities to short-sellers, says the Financial Times. Securities lending, where an institution temporarily loans stocks, bonds, or exchange-traded funds for a

The Bretton Woods agreement was born out of the need to have a more open and better regulated financial world after the end of World War II, avoiding the economic rivalries and protectionism that resulted from, and worsened, the Great Depression. In

Despite the bearish sentiment in both the lumber industry and the US stockmarket, stocks within the sector have generally held up well. Of course, this could mean that most are due for a pullback. So here are two stock selections to cover both the po

■ Savers looking to generate extra pension income should consider delaying their retirement. New data from insurer Aegon shows a delay of just a single year could offer a boost of over 16%. The figure is based on the example of a 60-year-old man with

• New rules from the Financial Conduct Authority, effective from 1 June, will require both individual pension providers and employer-sponsored schemes to “nudge“ savers to get a free appointment with the Pension Wise service when they access their fu

At Sanford DeLand, we manage our flagship CFP SDL UK Buffettology Fund and its smaller cousin, the CFP SDL Free Spirit Fund, in line with the business-perspective investing philosophy as championed by Warren Buffett, among others. We look for only th

While much of the drop in S4’s shares reflects the delay in publishing the accounts – they dropped by more than a third in March after the second delay – the broader adtech industry has also sold off. Tremor is down 30%. In the US, The Trade Desk is

UK oil and gas production company Capricorn Energy (LSE: CNE) has announced an all-stock merger with Tullow Oil, says Reuters. The merged company, which will have reserves of 343 million barrels, will focus on Africa. Tullow will contribute the great

Shares in online-trading provider CMC Markets (LSE: CMCX) dropped by more than 10% after it announced a sharp fall in profits, says the Financial Times. The company said that pre-tax profits for the financial year to March 2022 had more than halved f

Michel David-Weill, who died last week aged 89, headed investment bank Lazard for nearly three decades from 1977. He was often described as ruthless, says The Telegraph. “Colleagues who won his trust knew him differently,” however – as a man who like

£20.00, vinoteca.co.uk; £19.50, Moreton Wine Merchants, 01608-651800 I have never written up a Bandol on this page, which is surprising given how much I love this historical style of wine. The 2019 Bégude, Bandol Rouge (£42, mustandlees.co.uk) is a

€8m The amount raised so far by Israeli art historian David Landau to restore three 16th-century synagogues in Venice’s old Jewish ghetto. The site once housed up to 5,000 Jewish people, offering relative safety from persecution across Europe through

Editor-in-chief: Merryn Somerset Webb Executiveeditor: John Stepek Editor:Andrew Van Sickle Actingeditor:Cris Sholto Heaton Marketseditor: Alexander Rankine Commenteditor: Stuart Watkins Politicseditor: Emily Hohler Wealtheditor: Chris Carter

A 314-year-old Spanish galleon known as the “mother of all shipwrecks” has become the “mother of all legal battles”, says Joshua Keating on Grid. The San José sank off the coast of what is now Colombia after a battle with a British fleet, carrying tr