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Premier League raises less from TV rights auction

Premier League raises less from TV rights auction

Business
The Premier League has seen a decline in the money raised from the sale of rights to broadcast matches in the UK.In total BT and Sky bid £4.4bn to screen the lion's share of 200 games for each season between 2019-2022.That amount falls short of the £5.1bn the Premier League netted in 2015.Two packages to show 20 midweek matches are still to be sold, but experts say it is unlikely they will raise enough to top the previous rights deal."I don't think that those two packages by themselves are going to bridge the gap between what the domestic rights were sold for last time and what they're going for this time," said Dan Jones, head of the sports business group at the accountancy firm Deloitte.In 2012, BT and Sky paid £3bn for the rights to show matches between 2013 and 2015, up from £1.77bn in
Sky and BT agree new £4.46bn Premier League deal

Sky and BT agree new £4.46bn Premier League deal

Business
Sky Sports and BT have agreed to pay £4.464bn to show 160 Premier League games a season from 2019/20 until 2021/22.The broadcasters are splashing out less than last time, when they paid a total of £5.136bn for 168 games.Sky, the owner of Sky News, will pay £3.6bn to show 128 matches per season, two more than under the last deal, while BT will screen 32 games, down from 42 in the previous arrangement - paying £885m.Under the latest expanded deal, which in total offers 200 games for broadcast, there are still two packages of 20 fixtures a season each on the table - and "interest from multiple bidders", according to the Premier League.On average, the price per game under the newly agreed deal is about £9.3m - less than the average £10.2m last time, though each of the seven "packages" of right
Firms on Caribbean island chain own 23,000 UK properties

Firms on Caribbean island chain own 23,000 UK properties

Business
A quarter of property in England and Wales owned by overseas firms is held by entities registered in the British Virgin Islands, BBC analysis has found.The Caribbean archipelago is the official home of companies that own 23,000 properties - more than any other country.They are owned by 11,700 firms registered in the overseas territory.The finding emerged from BBC analysis conducted of Land Registry data on overseas property ownership.The research found there are around 97,000 properties in England and Wales held by overseas firms, as of January 2018. It adds to concerns that companies registered in British-controlled tax havens have been used to avoid tax. Sorry, your browser cannot display this map Map built by Carto. If you can't see the map, please click here to op...
Wall Street on front foot after volatile week

Wall Street on front foot after volatile week

Business
Wall Street made strong gains on Monday as technology and financial shares helped it recover from its worst week in two years.New York's Dow Jones Industrial Average closed more than 400 points, or 1.7%, higher - also helped by details of Donald Trump's budget. The gain built on a 1.4% upturn in the previous session.The FTSE 100 started the week on the front foot too, adding more than 1% after falling by a similar amount on Friday.Markets have been enduring a volatile spell since 2 February, when strong US jobs and wage growth figures raised the spectre of rising inflation and accelerating interest rate hikes.The fear that the era of cheap money could be coming to an end proved the catalyst for a major sell-off for stock indices both in the US and across the globe - widely seen as a "corre...
Barclays Bank charged over Qatar loans

Barclays Bank charged over Qatar loans

Business
The Serious Fraud Office (SFO) has charged Barclays Bank PLC with "unlawful financial assistance" related to billions of pounds raised from Qatar in 2008.The same charges were bought against Barclays PLC in June last year.The move to charge Barclays Bank as well is significant because it holds the banking licence that allows it to operate in different countries.So, if Barclays was found guilty, it could lose that crucial licence.In 2008, to avoid a government bailout, Barclays took a £12bn loan from Qatar Holdings, which is owned by the state of Qatar.Under that deal Barclays loaned £2.3bn back to Qatar Holdings.The SFO alleges that loan was used either directly, or indirectly, to buy shares in Barclays, which the SFO says is "unlawful financial assistance".In response, Barclays said: "Bar