Good morning and welcome to our Markets Live blog, bringing you the latest news that affects your investments.
Buffett’s Berkshire bounces back
After trailing the wider US stock market for the past two years, Warren Buffett’s Berkshire Hathaway vehicle has finally returned to form. But the ‘Sage of Omaha’ was in circumspect mood over the weekend, warning investors that the US economy was in danger of running ‘red hot’ and that inflation is likely to be a major factor in the months to come.
He also railed against SPACs and the effect they have had on the equity markets as Berkshire sits on a war chest of $145bn which it is struggling to find a home for given valuations. Berkshire’s profit rebounded to $11.7bn in the year to March, compared to a loss of $49.7bn a year earlier.
Man Utd’s ESG test
Pitch raiders or corporate raiders?
Manchester United (US:MANU) fans stormed into the football club’s stadium on Sunday, in protest against the team’s billionaire owners and their thwarted plan to form a breakaway European Super League.
Supporters set off flares and invaded the field at Old Trafford, eventually causing the postponement of their team’s match against Liverpool, another club that had attempted to join the aborted Super League.
A lot of business leaders have talked the talk about balancing the drive for profits with the demands of other stakeholders. English football is now providing a rare example of those stakeholders actually gaining significant influence over an organisation, albeit against the will of their clubs’ owners.
A government-backed review is now weighing up the possibility of fans acquiring ownership of their teams. Could football provide one of the first real case studies of ESG corporate management in action?
- The beautiful game’s ugly side
- Is esports now a better investment than real sports?
- Not your normal finance show: Football without fans
- Without football, can BT’s share price regain its highs?
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