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North America
CNBC Finance

Group including Jeff Bezos buys minority stake in Liverpool FC, with option to become controlling owner

A group that includes Jeff Bezos has struck a deal with Fenway Sports Group to become minority owners in Liverpool Football Club, FSG said Friday. The deal is the Amazon founder's first investment in a sports property. The consortium will buy roughly one-third of the Premier League club, and the minority transaction is valued at about $7.1 billion, according to people familiar with the matter who were not authorized to speak publicly. As a condition of the deal, the investment group has an option to become the majority shareholder of Liverpool at a valuation around $8 billion in the next 12 months, according to a person familiar with the matter. The largest contribution to the $7.1 billion minority investment — more than $1 billion — comes from the firm K5 Global. Bezos is the lead investor in the K5 fund. The consortium behind the deal, 1892 Holdings, is managed by businessman Amit Bhatia, who is the primary partner in the deal and a former co-owner of the Queens Parks Rangers soccer club. The group also includes K5 Sports and EE Capital, the family office of Elaine and Eduardo Saverin. Eduardo is a co-founder of Facebook. Bhatia will serve as Liverpool's new vice chairman, and will also join the club's expanded board, according to a person familiar with the matter. Bezos will not have a seat on the board, but Bryan Baum from K5 Sports and Elaine Saverin both will, according to one of the people familiar with the matter. The new minority owners will support Liverpool FC's long-term ambitions by bringing together experts from global business, technology and investment, the club said. "Liverpool has always been built by thinking beyond one season and making decisions with the club's long-term interests in mind. That approach continues to attract interest from respected investors and business leaders around the world. As we considered this opportunity, it became clear that Amit and the consortium shared our long-term philosophy and appreciation for what makes Liverpool special," FSG President Mike Gordon said in a press release. Bezos, who made his fortune as the founder of Amazon, has a net worth of $272 billion, according to Forbes. He has previously explored ownership in the NFL's Washington Commanders and Seattle Seahawks. CNBC's 2026 Official Global Soccer Team Valuations listed Liverpool FC as the fourth-most valuable soccer club in the world, valued at $6 billion. Liverpool FC competes in the Premier League in England. The club has won 20 league titles, with its most recent championship in 2025. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Group including Jeff Bezos buys minority stake in Liverpool FC, with option to become controlling owner
Asia
The Economic Times

India bond yields hit two-month high as rate hike fears intensify

India’s benchmark bond yield surged as traders priced in potential rate hikes, while hawkish MPC minutes, geopolitical tensions and fading FCNR liquidity optimism weighed. Indian government bonds encountered significant challenges this week, marking the worst week of the financial year. The Reserve Bank of India's hawkish policy minutes triggered a selloff, compounded by the early closure of a diaspora-deposit hedging facility. Additionally, soaring crude oil prices heightened inflation concerns and rate hike fears in India, culminating in a notable increase in bond yields. Bigger or Better: BEL’s biggest shareholder is also its biggest customer – and its rule-maker. Final part

India bond yields hit two-month high as rate hike fears intensify
North America
CNBC Finance

Disney CEO Josh D'Amaro tells CNBC parks were 'big surprise' in last quarter, company has 'clarity' and 'stability'

Disney CEO Josh D'Amaro told CNBC's Julia Boorstin on Friday that the company's parks division was a "big surprise" last quarter and that he feels confident about the company's trajectory during his first few months at the top of the media giant. "We're delivering on everything that we said we're going to deliver on," D'Amaro said. "I think there's clarity inside of the organization in terms of where we need to to go next. A lot of stability with the the team. So you know, almost six months in, I'm feeling pretty good about where we are." D'Amaro stepped into the role of Disney CEO in March, succeeding Bob Iger after a closely watched succession race and following a turnaround period at the media giant. The longtime Disney executive had most recently served as chairman of Disney Experiences, the unit that includes the theme parks, cruise lines and consumer products, and which drives profitability for the company. His immediate tasks since assuming the top job have been sustaining momentum in Disney's core growth areas, namely its theme parks and streaming divisions. These areas have been a focus for investors, and in recent quarters, Disney has received a mixed reception from Wall Street. "I'm not happy with where the stock stands right now," D'Amaro said Friday. "Our investors aren't happy with that, but I do believe that we're sitting in a very great space relative to the entertainment industry." Last week Disney reported quarterly results that once again showcased the strength of parks and streaming, and Wall Street appeared pleased with growth in Disney's theme park segment despite mounting macroeconomic uncertainty for consumers. On Friday, D'Amaro said that while Disney isn't "immune" to some of the headwinds hitting theme parks, the company is positioned to respond if needed. Still, he fell short of disclosing whether further theme park price increases were coming, and instead said to expect further investments in its destinations. The CEO has previously said that his focus in leading Disney is on investing in intellectual property. "This next chapter is about, No. 1, telling great stories. We'll never forget that. We want to move with more speed and urgency than we have before," D'Amaro said. "Embrace technology even more aggressively than we have in the past, and importantly, bring this company together to act like 'One Disney,' which you've heard me say before." "We have tremendous scale, growing scale internationally. So as it is today, I feel very good about where Disney+ is," D'Amaro said. "But there are opportunities, obviously, to keep growing it." D'Amaro said last week the company is considering a free, ad-supported streaming product as a way to beckon more viewers to Disney+. On Friday, he called the option a potential "front porch" to get viewers in for free who could later become subscribers.

Disney CEO Josh D'Amaro tells CNBC parks were 'big surprise' in last quarter, company has 'clarity' and 'stability'
Asia
The Hindu BusinessLine

Global Sea Surface Temperature breaks record as El Nino gains strength

The daily global average Sea surface temperature (SST) has surged to a record, with a temperature of 21.1°C on August 22, exceeding the previous record of 21.09°C set in March 2024, according to a report by the Copernicus Climate Change Service (C3S), implemented by the European Centre for Medium-Range Weather Forecasts (ECMWF). It is an unusually late reading for this time of year, with the long-term warming of the ocean compounded by a strengthening El Nino event. The timing of the record is noteworthy. Normally, the warmest global ocean temperatures occur in March and April, after the austral summer. But this has occurred in August. It also beats the previous highest August value, reached in 2023 at 20.98°C. This new daily record comes on the heels of a series of monthly sea surface temperature records and near-records observed across the extra-polar ocean (60°S to 60°N) throughout 2026, highlighting the persistent warmth observed across much of the global ocean. The tropical Pacific is now rapidly warming, and a powerful drought-bearing El Nino is taking shape, adding to the already long-term warming of the ocean due to climate change. The World Meteorological Organization (WMO) has said El Nino is likely to strengthen in the coming months, with the C3S seasonal forecasting system indicating the event could reach levels not seen for several decades. Samantha Burgess, Strategic Lead for Climate at ECMWF, commented: “This record is another clear signal of an ocean under growing stress. El Niño is adding heat to the system, but it is doing so on top of decades of human-driven warming. As ocean temperatures continue to rise, the risks to marine ecosystems and coastal communities also increase. The consequences are already visible: the number of marine heatwave days globally has more than tripled since the early 1990s, putting increasing pressure on marine ecosystems and the communities that depend on them.” Ocean warming is steadily increasing, and this trend has major implications for communities and ecosystems. Warmer oceans are causing sea levels to rise through thermal expansion, which threatens coastal communities and low-lying island nations, the report said. Higher temperatures also increase the likelihood and intensity of marine heatwaves, which can devastate key ecosystems like coral reefs and seagrass meadows, disrupting marine food webs and industries like fisheries and aquaculture. Higher ocean temperatures also increase the potential for extreme weather. As the ocean warms, it takes in more heat and moisture, which could result in heavier rains and some storm systems. A warmer ocean also loses some of its ability to suck carbon dioxide from the atmosphere, potentially undercutting one of the world’s most important natural buffers against climate change, the report said. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Global Sea Surface Temperature breaks record as El Nino gains strength
Asia
The Economic Times

20 IPOs on investors' radar next week. GMPs indicate up to 90% returns

10 issues will open for subscription next week, while others have already opened and are set to list. Mainboard names such as Symbiotec Pharmalab, Lumino Industries, Skyways Air and Tempsens Instruments are drawing the strongest attention among all the IPOs. Here's what GMPs indicate the kind of returns investors will get in the next week. The Rs 1,757 crore mainboard IPO opens on August 24 and closes on August 27. Its GMP stands at Rs 410, indicating a possible 41.5% listing gain over the issue price of Rs 988. The Rs 650 crore mainboard IPO has a GMP of Rs 321 against an issue price of Rs 300. The implied listing gain is 107%, the highest among the IPOs on investors’ radar. The Rs 700 crore mainboard IPO opens on August 27 and closes on August 31. Its GMP stands at Rs 52, suggesting a possible 63.4% premium over the issue price of Rs 82. The BSE SME IPO opens on August 27 and closes on August 31. With a GMP of Rs 51 on an issue price of Rs 90, the stock is indicating a possible 56.7% listing gain. The Rs 135.73 crore mainboard IPO opens on August 24 and closes on August 27. Its GMP of Rs 27 points to a possible 50.9% premium over the issue price of Rs 53. The Rs 825 crore mainboard IPO opened on August 21 and closes on August 25. Its GMP stands at Rs 395, suggesting a possible 50.1% listing gain over the issue price of Rs 788. The Rs 1,700 crore IPO has already closed and is scheduled to list on August 24. Its GMP of Rs 77 implies a possible 38.3% premium over the issue price of Rs 201. The Rs 582.80 crore mainboard IPO opens on August 24 and closes on August 27. Its GMP of Rs 37 suggests a possible 26.8% premium over the issue price of Rs 138. Shimla, Aug 22 (ANI): A tourist couple hold an umbrella as they enjoy the sunshine after a spell of light rain, in Shimla on Saturday. (ANI Photo) The Rs 550 crore IPO has already closed and is scheduled to list on August 26. Its GMP stands at Rs 17, indicating a possible 10.6% premium over the issue price of Rs 160. The Rs 2,600.04 crore IPO has already closed and is scheduled to list on August 24. Its GMP of Rs 3 suggests a possible 5% listing gain over the issue price of Rs 60.

20 IPOs on investors' radar next week. GMPs indicate up to 90% returns
Asia
The Hindu BusinessLine

TN seeks ‘proportionate’ Cauvery water, SC advises State to take it up with CWMA

The court sought an updated report, and posted the case for further hearing on August 31. The Supreme Court advised the Tamil Nadu government on Monday to take up its contention that it has yet to be given the “proportionate” quantity of Cauvery water due from Karnataka. Appearing before a Bench headed by Justice Vikram Nath, senior advocate CS Vaidyanathan, for Tamil Nadu, submitted that the “Cauvery Water Management Authority (CWMA) is not giving directions to make up the proportionate quantity I (Tamil Nadu) must receive”. Justice Nath said then Tamil Nadu must raise the issue with the CWMA itself, adding that “here the issue was about Karnataka not giving you water at all”. “As of morning, we have got some water. It was in deficit yesterday,” Vaidyanathan said.Senior advocate G Umapathy, for Tamil Nadu, said the shortfall of water as per the pro rata formula was 17.414 TMC as of August 23. Vaidyanathan said “today they have about 78 TMC in the reservoirs”. The court noted Vaidyanathan’s submission that the CWMA was meeting on August 25, and the State would raise the issue before the Authority. The court sought an updated report, and posted the case for further hearing on August 31. An affidavit filed by Karnataka in the apex court recently had submitted that it was able to overcome the challenges of a distress year and worsening El Nino conditions to ensure the supply of water from its Kabini reservoir due to large inflows owing to good rainfall in the Wayanad area above the Kabini catchment which lies in Kerala. “The releases from the KRS and Kabini reservoirs have already been reflected at the inter-State border at Biligundlu,” Karnataka had maintained in the affidavit. However, Tamil Nadu had filed an additional affidavit in the Supreme Court recently, arguing that Karnataka’s release of water was “never voluntary compliance”. Previously, on August 3, Tamil Nadu had urged the court to direct the CWMA to issue an appropriate directions to Karnataka to make good, on a pro-rata basis, the shortfall at the inter-State point of Billigundulu for the period from June 1 to August 12, and in this regard release, at the time, a little over 26 TMC of water. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

TN seeks ‘proportionate’ Cauvery water, SC advises State to take it up with CWMA
Europe
BBC Business

Virgin takes step towards running Channel Tunnel rail services

Virgin's plans to run rail services between London and Paris, Brussels and Amsterdam have moved closer after it was granted track access by the UK regulator. The company has been given approval to run up to 20 daily return services through the Channel Tunnel by the Office of Rail and Road (ORR), with the agreement running from 1 October 2030 to 31 December 2040. The ORR said, external it was "a significant step forward" in introducing competition on the route, where Eurostar has held a monopoly on passenger services since the tunnel opened in 1994. However, the regulator said Virgin still had to secure rolling stock for the services and get safety approval from UK and EU authorities. The approval from the ORR only covers the track from London St Pancras to the Channel Tunnel at Dover and the regulator said Virgin still needed to secure access to rail networks in mainland Europe. The ORR's deputy director of access and international, Martin Jones, said: "This is an important next step in bringing competition and growth to the market for international rail services. "While there is still more work to do, we are supporting Virgin and the wider industry to grow international services." The ORR said increasing competition on the route would provide "significant benefits" for passengers. As well as Virgin, Italy's FS Italiane Group is also planning to run services through the Channel Tunnel from 2029 using its subsidiary Trenitalia France. Last week, Trenitalia France signed an agreement for 19 new high-speed trains from Hitachi Rail, which it plans to use on the service. Virgin is planning to buy 12 high-speed trains from Alstom to operate on the route. A Virgin Group spokesperson said: "Our plans for a new London-Europe rail service from 2030 are moving at pace.

Virgin takes step towards running Channel Tunnel rail services
Europe
BBC Business

To joke or not to joke?: How to write a good out-of-office message

Image source, Getty ImagesPublished4 hours agoYou're finally about to head off on a well-earned break, but there's one more task to tick off your to-do list: composing an out-of-office reply. Many will be all too familiar with debating how much information to include and how available you will be - and whether to inject some personality into your message, or even risk cracking a joke. Experts say there are clear dos and don'ts when it comes to writing an out-of-office message (OOO) - and getting it wrong can have more serious consequences than you might think. Here are their rules to penning the perfect out-of-office reply. Debretts, an etiquette consultancy, says a good automatic reply should be polite and concise, give a specific return date, and provide another point of contact if appropriate. But you should avoid oversharing, for instance including the specifics of your holiday plans, or boasting about things like second homes or expensive hobbies. "Virtue signalling" about why you are taking time off is another no-no. It could seem "smug" or like you are "trying too hard", says director Rupert Wesson. "Some people will be delighted you are spending 'quality time with your family', but given that they are the ones emailing you and are hard at work, you could risk rubbing their noses in it." That said, a bare message that simply states, "I'm out of office" with no details of a return date or alternative emails to try, can raise more questions than it answers. "People don't know when to expect a reply or who else can help, and that uncertainty is what leads to the 'just-in-case' follow-ups," says Charlotte Davies, a career expert at Linkedin. She believes a good OOO does two things: shares your dates and points people to a backup contact. She also thinks it's worth briefing the person covering you about anything important before you go: "It helps whoever's emailing you, and it protects your break too." While the personal touch may work in OOOs if your team culture is informal, beware that humour doesn't always land well over email.

To joke or not to joke?: How to write a good out-of-office message
Asia
The Hindu BusinessLine

A91 Partners set to cash out ₹445 crore from Atomberg ahead of IPO

Atomberg, founded by Meena and Das, started out making BLDC ceiling fans and has since diversified into kitchen and home appliances, including mixer grinders, water purifiers and cold-pressed juicers. A91 Partners is set to realise a significant portion of its investment in consumer appliances maker Atomberg Technologies as the company prepares to go public, with the investor having sold shares worth nearly ₹445 crore, according to Atomberg’s draft red herring prospectus (DRHP). The fund, which first backed Atomberg in 2019, has put about ₹143 crore into the company across primary and secondary transactions. Of this, ₹118 crore went into the company as primary capital, while ₹25 crore was deployed to acquire shares from existing shareholders. A91’s stake sales have generated substantial liquidity ahead of Atomberg’s proposed initial public offering. Even after the transactions, the investor remains the largest shareholder in the company, with a 21.02 per cent holding, the DRHP showed. A91 entered Atomberg through its Series A round in 2019 and subsequently participated in the company’s Series B financing in 2020. Its investment comes as Atomberg has expanded from its original focus on energy-efficient BLDC fans into a wider consumer appliances portfolio. The company’s public-market filing also offers a glimpse into the extent of investor liquidity generated before the IPO. Existing shareholders have collectively undertaken secondary sales worth about ₹683 crore since 2019. Parampara Early Stage Opportunities Fund has sold shares worth roughly ₹116 crore, making it the second-largest seller after A91. Atomberg’s founders, Manoj Meena and Sibabrata Das, have also monetised portions of their holdings. The secondary transactions have allowed early investors and shareholders to realise returns ahead of the public listing, while bringing in new investors without increasing Atomberg’s share capital. Atomberg, founded by Meena and Das, started out making BLDC ceiling fans and has since diversified into kitchen and home appliances, including mixer grinders, water purifiers and cold-pressed juicers. It also operates a proprietary components business, supplying motors and controllers to appliance companies. The company’s revenue from operations rose 34.8 per cent to ₹1,293.77 crore in FY26 from ₹959.51 crore a year earlier. Despite the growth, Atomberg remained loss-making, reporting a restated loss of ₹148.88 crore for FY26. Atomberg has proposed a ₹450-crore fresh issue as part of its IPO, alongside an offer for sale of 76.54 million shares. It plans to deploy a portion of the fresh capital towards debt repayment, brand building and R&D as it seeks to scale its appliance portfolio and distribution network. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

A91 Partners set to cash out ₹445 crore from Atomberg ahead of IPO