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In a landmark decision, a Manhattan federal jury determined that Live Nation and its Ticketmaster subsidiary wield a monopolistic grip on major concert venues across the United States. The four‑day deliberation ended Wednesday with a finding that the ticket‑selling platform had overcharged buyers by $1.72 per ticket, a figure that will now be used by a judge to calculate total damages. The case, originally spearheaded by the federal government and later joined by dozens of states, accused Live Nation of leveraging its extensive venue network to stifle competition. Plaintiffs argued that the company barred venues from using alternative ticket sellers and retaliated against those that attempted to do so. Attorney Jeffrey Kessler, representing the states, called Live Nation a “monopolistic bully” that inflates prices for concertgoers. He cited the company’s control of 86% of the concert‑ticket market and 73% of the combined concert‑and‑sports market, underscoring the breadth of its influence. Live Nation, which reported over $22 billion in annual revenue, rejected the monopoly label, insisting that pricing decisions rest with artists, sports teams, and venue owners. Company counsel argued that the firm’s size reflects “excellence and effort,” not antitrust violations. The jury’s finding arrives amid a broader regulatory push. In 2024, the Federal Trade Commission required Ticketmaster to disclose ticket fees up front, prompting the company to eliminate a post‑checkout processing charge. However, a recent Guardian investigation revealed that Ticketmaster introduced alternative fees to offset lost revenue, raising questions about compliance with FTC rules. Earlier, the Department of Justice settled with Live Nation under the Trump administration, creating a $280 million settlement fund for participating states. The agreement also imposed caps on service fees at select amphitheaters and opened the door—though not the obligation—for venues to work with Ticketmaster rivals such as SeatGeek and AXS. More than 30 states declined the settlement and pursued the trial, arguing that the federal government’s concessions were insufficient. During the proceedings, Live Nation CEO Michael Rapino testified, including about the 2022 Taylor Swift ticket fiasco, which he attributed to a cyber‑attack. Internal communications from Live Nation executive Benjamin Baker surfaced, in which he described certain pricing practices as “outrageous” and disparaged customers as “so stupid,” later apologizing for the “very immature and unacceptable” remarks. Live Nation has announced its intention to appeal the verdict, stating confidence that the ultimate outcome will align with the original DOJ settlement framework. The case continues to spotlight the tension between dominant market players and antitrust enforcement in the live‑entertainment industry.

"The failure is big," Liverpool midfielder Ryan Gravenberch declared after the Champions League loss to Paris Saint-Germain. The defeat not only eliminates Liverpool from Europe but also seals a season that will finish trophyless. Manager Arne Slot has repeatedly insisted that the future looks very bright for Anfield, yet the club’s reality is starkly different. A business model built on lucrative broadcasting and commercial revenues now faces a potential top‑five miss, a scenario that would be financially and reputationally humiliating for a side that spent nearly £450 million on its squad last summer. Slot’s request for three seasons to steer Liverpool’s transition is under intense scrutiny. In the past 16 days Liverpool have played five matches: three defeats, two aggregate exits totalling 8‑0, and a solitary league win sparked by 17‑year‑old Rio Ngumoha. The pattern underscores a season riddled with setbacks. Sporting director Richard Hughes observed that despite a respectable xG of 1.94 against PSG, Liverpool’s performance fell short, a symptom of deeper issues. The situation worsened when forward Hugo Ekitiké collapsed with a suspected Achilles injury in the 27th minute, likely ruling him out for the remainder of the campaign. His absence further hampers the newly assembled £320 million front line of Alexander Isak, Hugo Ekitiké and Florian Wirtz, who have barely featured together. Slot’s tactical gamble of starting Isak after a four‑month hiatus and deploying a back five at the Parc des Princes backfired. Isak managed only five touches before being substituted at halftime, illustrating that a Champions League quarter‑final is not the venue for experimentation. After the second leg, Slot attempted to inject optimism, stating, "The good thing is Alex is back" and reiterating that the club can compete with Europe’s champions on home soil. Critics argue this positivity is misplaced, especially as Liverpool scrambles through the run‑in with key players missing. With six league games remaining, a fit Isak could be the difference between securing Champions League qualification and enduring further humiliation. Both Isak and Wirtz must begin to justify their hefty transfer fees, despite recent injury concerns and underwhelming output. In a candid interview with Ziggo Sport, Gravenberch summed up the mood: "No, actually not. It’s disappointing. We have to pick ourselves up as Sunday is waiting. We still have six matches in the league and we just want to play in the Champions League next year as well." He added that the season feels plagued by setbacks—late goals conceded and missed chances—making this a tough, failure‑laden campaign from which the squad must learn.

The future of the LIV Golf series hangs in the balance after Saudi Arabia’s Public Investment Fund (PIF) signaled a possible withdrawal of its multi‑billion‑dollar support. Executives were summoned to a high‑stakes meeting in New York this week, a development that follows growing speculation that the rebel tour could be shut down. While the fifth season’s sixth event in Mexico City is set to proceed on Thursday, the tournament is being eclipsed by reports that PIF intends to cut the tour’s funding. The tour has already faced challenges securing a merger with the PGA Tour despite a three‑year “framework agreement,” and the funding pull would exacerbate its financial strain. According to the PIF’s newly released five‑year economic strategy, the fund is prioritising sustainable domestic investments and has omitted sport from its seven key focus areas. This shift signals a move away from the “free‑spending, disruptive internationalism” that characterised the launch of LIV Golf in 2021. Since its inception, PIF has poured over $5 bn into the tour, but this year prize money and bonus payouts have already been slashed. High‑profile players such as Phil Mickelson, Dustin Johnson, Jon Rahm, Sergio García and Bryson DeChambeau initially defected from the PGA and DP World Tours, yet recent defections back to the PGA—including Brooks Koepka and Patrick Reed—highlight the tour’s precarious position. DeChambeau has yet to sign a new contract. A source familiar with the Saudi Ministry of Sports confirmed that the fund is redirecting its sports budget toward football and esports, with golf no longer a priority. The same source noted that PIF is ending its partnership with the Women’s Tennis Association, and the three‑year WTA Finals deal in Riyadh will not be renewed after its November expiry. The rumours ignited on Tuesday after journalist Ryan French posted on X that multiple sources warned of a “bombshell announcement” on LIV’s future, later suggesting the tour might be shutting down. LIV officials and players have not received any formal update. In Mexico, Sergio García told reporters they have only heard the same message from PIF chief Yasir al‑Rumayyan at the start of the year: that the project is a long‑term commitment, and that rumours are inevitable. Technical glitches, including an alleged power failure at the venue, forced the cancellation of pre‑tournament press conferences on Tuesday. Nevertheless, the pro‑am competition resumed on Wednesday at 8:30 a.m. local time, indicating that day‑to‑day operations continue despite the uncertainty. The outcome of the New York meeting could determine whether LIV Golf survives as a viable alternative to traditional tours or becomes another casualty of shifting Saudi investment priorities.

Just a decade ago, cord‑cutters imagined a utopia where any game could be streamed on any device for a single, affordable price. Today, that vision has morphed into a bewildering web of platforms, blackouts and fees that strain even the most devoted fans. Major League Baseball illustrates the chaos. The Yankees’ local market now requires fans to juggle seven different providers, from traditional broadcasters to Apple TV and niche apps. A season‑long Gotham Sports App pass costs $119.99, while Amazon’s Prime Video charges $14.99 per month (or $139 annually) for exclusive rights to 21 Wednesday games. Netflix, at $19.99 per month, aired the opening‑night matchup between the Yankees and Giants. Adding these together, a die‑hard fan could face a bill of roughly $800 to watch every Yankees game this year, according to a calculation by The Athletic. Even Apple’s own streaming chief, Eddy Cue, admitted the market has regressed: “You used to buy one subscription, your cable subscription, and you got pretty much everything they had. Now, there’s so many different subscriptions, so I think that needs to be fixed.” MLB commissioner Rob Manfred proposes centralising local rights by 2028, hoping to curb the splintered landscape. Yet legacy broadcasters and tech giants continue to chase lucrative deals. The NBA’s recent 11‑year, $76 billion media contract with Disney/ESPN, Amazon and NBC underscores how high the stakes have become. Rights fees are increasingly volatile. ESPN reportedly paid $550 million annually for Sunday Night Baseball, only to see MLB strike a $10 million per‑year deal with Roku for the same slot. Netflix is said to spend $50 million per season for three years to air marquee events such as Opening Night and the Home Run Derby. The NFL, the most valuable league, embraces fragmentation as a revenue strategy, distributing games across CBS, Fox, NBC, ESPN/ABC, Prime Video, the NFL Network, YouTube and Netflix. By packaging boutique game bundles for streamers, the league extracts “significantly more money” beyond its core media rights. Beyond cost, the viewer experience is eroding. In‑game advertising now blankets pitches and ice rinks, while “hydration breaks” at the World Cup will feature mandatory ad slots. Streamers counter with ad‑free premium tiers, but those come at a premium comparable to airline baggage fees. Financial pressures are evident. Peacock added 44 million paying subscribers in Q4 2025, yet reported a staggering $552 million loss, largely due to expensive NBA and NFL rights. Dazn, another global sports streamer, has accumulated billions in operating losses since launch. Industry analysts warn that over‑commercialisation could alienate casual viewers, especially younger audiences with shrinking attention spans who prefer short‑form clips on platforms like TikTok. As Anthony Palomba of the University of Virginia notes, “The prospect of watching a three‑hour game versus getting bite‑sized highlights on TikTok is difficult.” Data‑driven, AI‑powered programmatic ads promise higher monetisation, turning moments—like Steph Curry’s game‑winning three‑pointer—into instant shopping opportunities. Amazon, for example, leverages its ecosystem to track the full consumer journey from view to purchase. One potential remedy is a consolidated “one‑stop‑shop” that bundles multiple sports feeds, aiming to reverse the so‑called “enshittification” of streaming services—a term coined by Cory Doctorow to describe platforms that sacrifice quality for profit. While nostalgia for the era of a single cable package persists, experts caution against romanticising the past. As former NBA commentator Jon Lewis observes, “The old days were complicated in their own ways; today’s challenge is to balance revenue with a sustainable, fan‑friendly experience.”

Negotiations between Washington and Tehran are expected to resume in Islamabad within days, placing President Donald Trump under intense pressure to deliver an Iran accord that can be credibly billed as superior to the 2015 Joint Comprehensive Plan of Action (JCPOA) brokered by former President Barack Obama. Two tests dominate the diplomatic calculus: the deal must demonstrably exceed the Obama agreement, and it must ensure that Iran derives no lasting strategic advantage, particularly over the vital Strait of Hormuz. While direct comparisons with the 159‑page JCPOA are imperfect—given the evolution of Iran’s nuclear program and the emergence of non‑nuclear concerns—the Trump team is framing its objectives around four pivotal issues. 1. Enrichment suspension: In Geneva on 26 February, the U.S. demanded a 10‑year freeze on all domestic uranium enrichment, a figure Iran’s foreign minister deemed unrealistic beyond three years. In Islamabad, the U.S. escalated the ask to a 20‑year suspension, yet Trump publicly dismissed even that, insisting on a permanent ban. The practical timeline for Iran to restart enrichment after the damage to its facilities remains uncertain. 2. Highly enriched uranium (HEU) stockpile: The original JCPOA capped uranium enrichment at 3.65% and limited the stockpile to 300 kg. Iran now holds 440.9 kg of 60%‑enriched uranium—a material that can be rapidly converted to weapons‑grade (90%)—mostly stored as UF₆ gas in scuba‑tank‑sized canisters. Tehran offered to down‑blend this stockpile to 3.67% in an irreversible process, mirroring the 2015 deal’s provisions. The U.S., however, is pressing for the entire stockpile to be removed from Iran under American supervision, a stance that raises questions about the relative merits of in‑country down‑blending versus export. 3. Sanctions relief: The JCPOA promised the release of roughly $100 billion in frozen Iranian assets and the lifting of oil trade restrictions, while retaining sanctions on terrorism, human rights, and missile proliferation. In the Geneva framework, over 80% of sanctions would be lifted, leaving only human‑rights‑related measures. Trump’s administration, wary of political backlash, seeks to attach conditions on how Iran can spend the relief, a demand Tehran rejects, insisting on a permanent, irreversible lifting of sanctions. 4. Non‑nuclear issues: Trump has repeatedly criticized the JCPOA for isolating Iran’s nuclear program from its broader regional behavior. The current negotiations must grapple with Iran’s ballistic‑missile program, support for proxy forces, and the strategic future of the Strait of Hormuz. Iranian officials are divided: one camp favors leveraging the strait for immediate revenue and national pride, while another views it as a diplomatic lever to secure a lasting ceasefire and security guarantees. The confluence of these challenges creates a “marshmallow test” for both sides—whether they can forgo short‑term temptations in favor of a durable, long‑term settlement. As the Trump presidency approaches its final year, the ability to craft a deal that convincingly outperforms the Obama era while addressing the expanded nuclear and geopolitical landscape will determine the legacy of U.S. policy on Iran and its impact on regional stability.

In the first three months of 2026, the United States’ six biggest banks collectively generated $47.4 bn in net profit, edging close to the $50 bn mark. The earnings surge reflects a sharp rise in trading activity as market participants scrambled for safety after the US‑Israeli offensive against Iran sparked a wave of volatility. Bank of America and Morgan Stanley led the pack with profit jumps of 17% and 30% respectively, while Goldman Sachs posted a 19% increase. JPMorgan Chase reported a 13% rise to $16.5 bn, Citi posted a striking 42% jump to $5.8 bn, and Wells Fargo added a modest 7% gain to reach $5.3 bn. Chief Executive David Solomon of Goldman Sachs described the results as a “very strong performance … even as market conditions became more volatile,” noting that the shift in client behavior toward cash‑preserving strategies boosted fee‑based trading revenue. Meanwhile, Bank of America’s CEO Brian Moynihan cautioned that the board remains “watchful of evolving risks,” acknowledging the broader uncertainty surrounding the Middle‑East conflict. The conflict has disrupted tanker traffic through the Strait of Hormuz, pushing energy prices higher and feeding inflationary pressures. The International Monetary Fund responded by trimming its 2026 US growth forecast by 0.1 percentage points to 2.3%, warning that a deeper escalation could trigger a global recession, especially for net energy importers and developing economies. Higher borrowing costs and inflation expectations have dampened demand for loans and mortgages, potentially curbing future investment‑banking fees tied to mergers and acquisitions. Yet, the immediate impact on trading desks has been lucrative, prompting banks to return cash to shareholders. JPMorgan set a quarterly record with a $8.3 bn share‑buyback, Bank of America followed with $7.2 bn, Citi spent $6.3 bn—its biggest buyback in two decades—while Goldman, Wells Fargo and Morgan Stanley allocated $5 bn, $4 bn and $1.8 bn respectively. Analysts view the earnings surge as a short‑term windfall that may not be sustainable if the geopolitical tension persists. Prolonged conflict could suppress corporate earnings, reduce merger activity, and ultimately erode the trading‑driven profit model that has underpinned this quarter’s success.

A Parisian software engineer, Ari Hodara, has won a €1m Picasso painting in a charity raffle. The painting, 'Head of a Woman', was created by Pablo Picasso in 1941 and is part of the artist's collection.Hodara purchased a €100 ticket for the '1 Picasso for €100' lottery, which aimed to raise funds for Alzheimer's research. He was informed of his win via a video call from Christie's auction house in Paris and initially questioned whether it was a hoax.The raffle, organized by French television producer Péri Cochin, sold 120,000 tickets, generating €12m in revenue. Of this amount, €1m will be donated to the Opera Gallery, which owned the painting.The painting, 'Head of a Woman', is a portrait of Picasso's longtime muse and partner, Dora Maar. It was painted in the same studio where Picasso created his 1937 masterpiece, Guernica.This is the third iteration of the Picasso raffle, which has raised over €10m for cultural and humanitarian causes in previous years.

The ongoing conflict in Iran has led to a significant increase in oil prices, with the world's top 100 oil and gas companies reaping enormous profits. In the first month of the war, these companies banked more than $30m every hour in unearned profit, according to exclusive analysis for the Guardian. This translates to estimated windfall profits of $23bn for the month of March, with Saudi Aramco, Gazprom, and ExxonMobil among the biggest beneficiaries.The surge in oil prices to an average of $100 (£74) a barrel has resulted in a substantial increase in profits for these companies. If the oil price continues to average $100, the companies are expected to make $234bn by the end of the year. The analysis uses data from a leading intelligence provider, Rystad Energy, analysed by Global Witness.The excess profits come from the pockets of ordinary people as they pay high prices to fill up their vehicles and power their homes, as well as from businesses incurring higher energy bills. Dozens of countries have cut fuel taxes to help struggling consumers, but this has resulted in reduced revenue for public services.Pressure is growing for windfall taxes on the war profits of oil and gas companies, with the European Commission considering a request from the finance ministers of Germany, Spain, Italy, Portugal, and Austria. The ministers argue that this would help ease the burden on the general public and finance temporary relief measures.Aramco is expected to make a war profit of $25.5bn in 2026 if the oil price averages $100. This is on top of the huge profits habitually made by the majority state-owned Saudi company – $250m a day between 2016 to 2023. ExxonMobil, which has a long record of denying climate change, will take in $11bn in unearned war profits in 2026 if the $100 price endures.The impact of the Iran war is likely to be long lasting, with the head of the International Energy Agency, Fatih Birol, describing it as the biggest shock ever to the global energy market. The UN's climate chief, Simon Stiell, warned that fossil fuel dependency is ripping away national security and sovereignty, and replacing it with subservience and rising costs.

Cricket Australia (CA) has yet to secure the backing of two pivotal state bodies for its proposal to sell minority stakes in Big Bash League (BBL) franchises, casting doubt on the timeline for a major private‑investment push.Cricket NSW chief executive Lee Germon publicly rejected the plan on Wednesday, confirming that the Sydney Thunder and Sydney Sixers will not participate in any valuation process overseen by CA.CA chief executive Todd Greenberg responded that the consultation with states is ongoing and that the organisation remains “open to discussing any questions or concerns” while emphasizing a “respectful and collaborative” approach.The Australian body aims to emulate the UK’s The Hundred model, where the England and Wales Cricket Board (ECB) auctioned franchises last year for £520 million (≈ $1 billion). CA’s proposal would allow up to 49% of each state‑run BBL team to be sold, with potential valuations of as much as $200 million per club, potentially generating a half‑billion‑dollar windfall.Proceeds would be split between an immediate cash injection to the state associations and ongoing annual payments, while a portion would seed a future development fund for Australian cricket.Germon warned that external investors could introduce goals misaligned with the existing cricket ecosystem, describing the current system as “working very effectively and very well now.” He highlighted risks of “external investors who will not have aligned goals with the states or Cricket Australia.”Meanwhile, Cricket Queensland chief executive Terry Svenson said no final decision has been made, noting the board is awaiting further clarification from CA on several points before reaching a verdict.Facing pushback, Cricket NSW is exploring an alternative financing strategy that sidesteps equity sales. The plan focuses on boosting revenue through ticket yields, attendance, commercial sponsorships, and wagering partnerships, aiming to fund the BBL’s growth without relinquishing club ownership.When asked about the increasing reliance on gambling revenue, Germon acknowledged that wagering is already part of cricket’s commercial mix and that its role will be reassessed as part of the broader funding discussion.CA’s ambition arrives amid rising competition from emerging T20 leagues in South Africa and the United Arab Emirates, which are vying for players and audience attention during Australia’s traditional summer window.