News

Newcastle United are now the richest sports club in the world

Published

4 years ago

October 8, 2021

A Saudi Arabian led consortium has completed a £300 million takeover of Newcastle United, 18 months after it was proposed to the Premier League

Saudi Arabia now owns an 80% stake in Newcastle United. David and Simon Reuben, British property developers, and PCP Capital Partners, based in Dubai, each own 10%.

“All parties have agreed the settlement is necessary to end the long uncertainty for fans over the club’s ownership,” a Premier League statement said.

“The Premier League has now received legally binding assurances that the Kingdom of Saudi Arabia will not control Newcastle United Football Club.”

Yasir al-Rumayyan, Governor of the 500 billion USD Saudi Arabian Public Investment Fund (PIF), will be a director, and The Guardian has reported Commerce Minister Majid bin Abdullah al-Qasabi played a key role in securing the takeover.

Amanda Stavely, a British businesswoman and partner in PCP Capital Partners, will also be on the board of directors.

Sacha Deshmukh, Amnesty International UK’s CEO, released a statement saying the takeover must prompt changes to the ownership rules in English football to stop ‘sportswashing’ by foreign governments.

“The closed-door trial of Jamal Khashoggi’s alleged killers was widely perceived to be a part of a wider whitewash by the authorities, and Saudi Arabia is accused of a catalogue of crimes under international humanitarian law during the long-running conflict in Yemen,” Deshmukh said.

“Instead of allowing those implicated in serious human rights violations to walk into English football simply because they have deep pockets, we’ve urged the Premier League to change their owners’ and directors’ test to address human rights issues.”

Hatice Cengiz, the widow of Slain Saudi Arabian journalist Jamal Khashoggi, has called the takeover “horrifying”.

Khashoggi was a fierce critic of the Saudi government and Crown Price Mohammed Bin Salman before his 2018 murder in the Saudi Arabian embassy in Turkey.

Mike Ashley bought Newcastle United for £137 million in 2007 from Freddy Shepherd and Sir John Hall.

News

RBA holds rates as investors shift from property to stocks

RBA holds rates at 3.6%, shifting investor focus from property to potential stock market gains amid persistent inflation pressures.

Published

3 hours ago

November 26, 2025

Harvey Vargas

RBA holds rates at 3.6%, shifting investor focus from property to potential stock market gains amid persistent inflation pressures.

The Reserve Bank of Australia has held interest rates at 3.6 percent, signalling a steady approach as inflation pressures persist and prompting investors to reassess their strategies in an uncertain climate.

The decision has shifted attention away from the property market, with experts suggesting the stock market may offer stronger opportunities, especially for those looking to outpace inflation over the long term.

We speak with Dale Gilham from Wealth Within about what the RBA’s call means for investors, why confidence in housing is changing, and what smarter financial choices look like in 2025.

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#RBA #Interestrates #AustraliaEconomy #StockMarket #InvestingTips #WealthWithin #FinanceNews #TickerTV

News

U.S. retail sales slowdown sparks new fears ahead of Fed decision

U.S. retail sales weaken, raising concerns about consumer spending and economic resilience ahead of the holiday season.

Published

3 hours ago

November 26, 2025

Harvey Vargas

U.S. retail sales weaken, raising concerns about consumer spending and economic resilience ahead of the holiday season.

Retail sales in the U.S. have unexpectedly weakened, raising new questions about consumer strength and the resilience of the economy. As Americans pull back on spending, analysts are watching closely to see whether this signals a broader shift toward caution in the lead-up to the holiday shopping period.

The slowdown has amplified uncertainty around the Federal Reserve’s next move on interest rates, as policymakers weigh mixed economic signals against cooling demand. With some categories falling sharply, economists warn that faltering retail activity could ripple into GDP forecasts and overall market confidence.

Brad Gastwirth from Circular Technologies joins us to break down which categories were hit hardest, why shoppers are becoming more value-conscious, and what this means for the economy heading into 2025.

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#RetailSales #USEconomy #FederalReserve #ConsumerSpending #EconomicOutlook #MarketUpdate #InterestRates #TickerNews

News

xAI’s $15 billion raise, deadline pressure and Grokipedia launch

Elon Musk’s xAI plans $15 billion funding round, reaching $230 billion pre-money, amid fierce AI sector competition.

Published

3 hours ago

November 26, 2025

Harvey Vargas

Elon Musk’s xAI plans $15 billion funding round, reaching $230 billion pre-money, amid fierce AI sector competition.

Elon Musk’s artificial intelligence startup xAI is preparing to close a huge $15 billion funding round next month, valuing the company at $230 billion pre-money. The raise highlights the intense investor appetite for advanced AI platforms as competition heats up across the sector.

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#xai #elonmusk #ai #startupnews #grok #grokipedia #technews #fundinground