Gloria Blog

A group led by Rob Walton, the son of Walmart founder Sam Walton, agreed to buy the National Football League’s Denver Broncos in what would be the largest amount ever paid for a US professional sports team. Mr Walton’s group includes his daughter, Carrie, and her husband, Greg Penner, along with Mellody Hobson, co-chief executive of Ariel Investments, the two sides said in a joint statement. The deal, which needs approval from the NFL’s finance committee and league ownership, was worth $4.65 billion, sources said. Mr Walton, 77, was an early front-runner in a crowded field of contenders vying for the first NFL team to go up for sale in four years. This included billionaires Josh Harris, co-founder of Apollo Global Management, and mortgage tycoon Mat Ishbia. Read More : https://www.thenationalnews.com/business/money/2022/06/13/billionaires-walmart-heir-leads-group-to-buy-denver-broncos-in-465bn-deal/

The yen fell to a 24-year low Monday as Japan’s easy monetary policy increasingly stood at odds with developed peers raising rates. The currency fell more than 0.5 per cent to ¥135.19 to the dollar, the lowest since October 1998, as Treasury yields extended Friday’s inflation-shock driven gains. The yen has tumbled about 15 per cent this year — the worst-performing major currency — as the Bank of Japan keeps rates anchored to boost a sluggish economy while US yields surge on bets for continued Federal Reserve rate increases. Friday’s shock US inflation print, which was higher than expected, has heaped pressure on the Fed to intensify monetary tightening, boosting the dollar. Before it hit, senior Japanese officials delivered a ramped-up warning on the yen’s decline, putting their concern in a written statement for the first time as they seek to keep a floor under the currency. Read More : https://www.thenationalnews.com/business/2022/06/13/yen-falls-to-24-year-high-as-policy-gap-slide...

Sheikh Dr Sultan bin Muhammad Al Qasimi, Ruler of Sharjah, has approved a Dh100m research budget for the American University of Sharjah. Sheikh Dr Sultan, who is also president of the university, agreed on the operating budget for the next academic year when he chaired the meeting of the board of trustees on Sunday. In addition to finalising the Dh100m in financial aid for research, the board also adopted a new policy for spending on scholarships and research. During the meeting, Sheikh Dr Sultan was briefed on a number of the university's achievements and praised the board for helping to accelerate its growth. Members of the board expressed their thanks to Sheikha Naamah bint Majid Al Qasimi and her family for their contribution to the university's scholarship fund. The donations will lead to the establishment of the 'Sheikha Naama bint Majid Al Qasimi Professorial Chair in Interdisciplinary Education' at the university. Sheikh Dr Sultan, who earned a doctorate in hist...