Sports

Leading English Premier League football (soccer) stars are demanding to be paid in euros because of the weak value of the Pound, according to Manchester United, the wealthiest club in world football.

As The FT reports, speaking at the KPMG Football Benchmark event in London on Wednesday. Cliff Baty, the English Premier League side’s chief financial officer said that last summer’s Brexit vote, which led to a sharp drop in the pound against the euro, had complicated the transfers of big-name players.

Authored by William Anderson via The Mises Institute,

When the cable TV sports giant ESPN announced 100 layoffs recently, including letting go a number of high-profile broadcasters, a lot of people took notice, and well they should: things no longer are business as usual in sports broadcasting, and we are not even at the beginning of the end, and maybe not even the end of the beginning.

In the early days of the Trump administration, when the world was still worried - unnecessarily - that Trump would single out Europe, and especially Germany, as an unfair trading partner, slamming the Euro as too weak, Germany's fallback response was to say the currency is where it is due to the ECB's monetary policy, oh and that the Euro wasn't weak, but merely reflecting fundamentals.

WTI Crude is back to a $45 handle after the overnight exuberance of a Macron win ("victory for the world") and desperate Saudi Jawboning about OPEC production cut extensions was stymied by dismal China trade data...

After initial kneejerks higher in the euro and equity futures, it appears Macron's victory is now a "sell the news" event as EURUSD has dropped 60 pips from post-election highs...

S&P Futures are fading...

And gold has bounced back to Friday's highs...