cnbc_topnews

Why America's super rich have embraced the appeal of British soccer teams

📰 source: cnbc_topnews · 💼 business

american billionaires now own 11 of 20 english premier league clubs, a trend that started with the glazer family's 2005 manchester united takeover. fenway sports group bought liverpool for £300 million in 2010 and is now selling a minority stake valuing the club at $6 billion. investors are drawn by operational inefficiencies: clubs are traditionally run for fans, not profit, with most losing money. in the 2024-25 season, premier league clubs posted combined pre-tax losses of £948 million, according to deloitte. tv revenues, which topped £3.3 billion last season, are split among clubs. scarcity also drives value — there are only a few dozen elite clubs, many dating to the 1800s. as one analyst put it, live sport can't be replicated by ai. but returns aren't guaranteed: manchester united shares are up just 30% over five years, while juventus shares are down 70%.

why it matters: american investors are betting on undervalued uk football clubs as global media rights and brand scarcity drive returns.

source: cnbc_topnews
sentiment: +0.10 · impact: 0.30

Surprise fall in US jobs last month as slow summer continues

📰 source: bbc_business · 💼 business us jobs fell by 23,000 last month, against forecasts for an 80,000 gain, with the bureau of labor statistics also revising down may and june payrolls by a combined 103,000. the unemployment rate still dipped to 4.1% from 4.2%, as labor

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

📰 source: cnbc_topnews · 💼 business homes sold for less than their asking price in 38 of the 50 largest u.s. housing markets in june, per redfin. the biggest discounts hit florida and texas: miami and west palm beach averaged nearly 5% below asking, while houston, austin, tampa, dallas, san antonio,

China is gaining ground in AI. But the U.S. still has a major advantage

📰 source: cnbc_topnews · 💼 business hugging face ceo clément delangue told cnbc china is clearly dominating on open models and could start dominating at the frontier by end of this year or next. chinese models are closing the gap with u.s. frontier systems despite limited access to cutting-edge compute. beijing-based

US strikes $1.2bn deal to pay German firm to halt offshore wind projects

📰 source: bbc_business · 💼 business rwe will abandon its offshore wind projects in the us after accepting a $1.2bn payout from the department of the interior. the german energy firm said it will reinvest the money into gas projects, including $900m for an lng export terminal in louisiana. rwe will

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Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects