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Manchester United Soccer team files for IPO in the US
England’s 19 time champion soccer team has filed a registration statement in the US to go public, according to the Associated Press. The club hopes to raise $100 million. It is currently owned by the Glazer family who also owns the Tampa Bay Bucaneers. The club hopes to pay off significant debt and to be able to attract top players. The team has been valued at $2.24 billion by Forbes magazine and is England’s top money maker in soccer. They were on there way to a 20th win when their primary rival, owned by a Sheikh from the United Arab Emirates, beat them.
French will impose $8.7 billion tax hike
The French government will levy a one off tax on those with net worth of 1.3 million euros. The overall tax hike will ultimately raise $8.7 billion after its collection from the wealthy and businesses, according to CNBC. It will also impose an additional tax on the oil companies. European markets are down on Wednesday while Asian markets were mixed. US markets are closed for the Fourth of July holiday.
Oil falls below $87 per barrel as Iran simmers
Oil fell to $87 a barrel on Wednesday in Asia. The price had risen on Tuesday when, according to the Associated Press, Iran test fired several ballistic missiles in a war games exercise. A ban on Iranian oil went into effect on July 1 for the European Union which is expected to dramatically cut Iran’s ability to export oil. While tension with Iran could increase prices, overall demand has been low. The American Petroleum Institute said on Tuesday that crude inventories fell 3 million barrels last week but that demand was increasing. The US has sent additional minesweepers to the region to prevent Iran from trying to block the Strait of Hormuth, where a fifth of the world’s oil supply passes.
Scientists celebrate possible discovery of “God” particle
The European Center for Nuclear Research, CERN, believes it has discovered a subatomic particle which may be called a Higgs boson particle. According to the Associated Press, the Higgs boson particle has been a theoretical subatomic particle which is believed to be the key to understanding why matter has mass and combines with gravity to give an object weight. The theory of this atom was first put forth by a Scottish physicist in the 1960’s name Peter Higgs. Higgs was part of the audience when the discovery was announced. CERN’s atom smasher, the $10 billion Large Hadron Collider, has been creating collisions of particles to allow scientists to gain a greater understanding of the creation of the universe. Two independent teams at CERN have observed this particle. While the scientists want to continue testing, it was acknowledged that in layman’s terms, it would be safe to say that they believe they have found the “God” particle.
Catherine S. McBreen is President of Millionaire Corner. McBreen plans and develops content for Millionaire Corner. Catherine Balances editorial content to meet the informational needs of both new and seasoned investors. She designs special monthly surveys on topical issues affecting the economic environment.
