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CT Takes More Action Against Prediction Markets Alleged To Offer Sports Betting
The American Gaming Association estimates $40 billion will be wagered on the NFL using prediction markets this year. On the first day of the 2026 college football season last week, one prediction market reported nearly $250 million in trading volume on college football alone, according to Lamont’s office.
Youth sports become big business, putting stress on families
American youth sports have become a 40 billion dollar business. But youth travel sports also come with increasing costs and challenges and parents are bearing the costs..
Youth sports become big business, putting stress on families
American youth sports have become a 40 billion dollar business. But youth travel sports also come with increasing costs and challenges and parents are bearing the costs..
Nvidia’s Hidden $40 Billion Business Beyond Big Tech Is Growing Twice as Fast
Nvidia's data center customer list is changing fast, and the new buyers look nothing like the hyperscalers who built the company's dominance. Whether that signals genuine strength or a subtler kind of risk depends on who is actually paying the bills.
Single Powerball ticket sold in Illinois wins $1.04 billion jackpot, eighth-largest in US history
Wednesday's Powerball drawing produced a single Illinois winner who matched all six numbers to claim the $1.040 billion jackpot, eighth-largest ever.
California Democratic Party endorses Prop. 40 billionaire tax
The California Democratic Party backed Prop. 40, a 5% billionaire tax for healthcare, despite heavy pushback from Newsom and labor leaders.
Senate committee looks to stop AI-enabled fraud against older adults
AI-enabled fraud is projected to reach $40 billion in the United States next year
Private investment in youth sports draws state, federal scrutiny
U.S. Rep. Chris DeLuzio co-sponsored a bill to limit private investment in the $40 billion youth sports industry.
Sports without politics is a fantasy and the World Cup proves it
From ancient Greece to Nazi Germany, sport and politics have long been intertwined. Nevertheless, we still imagine that international sport can be kept above the fray and serve as a neutral arena where nations compete on merit alone. In this article, diplomacy scholar Geoffrey Allen Pigman argues the 2026 FIFA World Cup shows this is a dangerous illusion. When international sport is left entirely to revenue-maximizing private bodies like FIFA, it doesn't escape politics, but rather surrenders to its worst expressions. With the 2028 Los Angeles Olympics fast approaching, the IOC must decide whether to learn that lesson or repeat the same mistakes. The largest and most lucrative FIFA World Cup ever draws toward its climactic conclusion amidst a swirl of controversy. Team members, staff, fans, and spectators have been denied their right to enter the United States to participate, and US President Donald Trump intervened with FIFA boss Gianni Infantino to overturn a referee’s call that Trump believed disadvantaged the US national team. It is a moment to step back and reflect on what the purposes of international sport mega-events like the World Cup, and international sport more broadly, are, and what they should be. Does international sport serve public purposes? Is there a public interest? Or is it primarily a private endeavor organized by commercial enterprises to entertain the global public (and generate profit in the process), which is occasionally used by governments and leaders for raisons d’etat? Central to the idea of sport is the principle of fair play, which in the international context demands that games be free from political interference. However, it is impossible to separate sport from politics, all claims to the contrary notwithstanding. The most positive political use of international sport through the millennia has been to facilitate diplomacy. The use of international sport for diplomatic objectives has existed since at least the time of the ancient Olympic Games, around which was instituted the custom of the Ekecheiria, or Olympic Truce, between participating states to facilitate fair competition and diplomatic achievements by ensuring that participants could travel safely to the Olympiad. In his seminal work On Diplomacy (1987), diplomacy scholar James Der Derian characterized the objectives of diplomacy as overcoming alienation and mediating estrangement between governments and between peoples. One increasingly important diplomatic tool in the technology-infused media environment over the past century has been public diplomacy, under which governments and non-state diplomatic actors (e.g. transnational corporations) communicate to global publics about their international policy objectives and to shape their global brand image. Political scientist Michał Kobierecki, in his important book Sports Diplomacy (2020), views sports diplomacy as falling broadly within the ambit of public diplomacy, as international sport intimately involves the participation of global publics as spectators and consumers of global media. Diplomacy scholar Stuart Murray and this author, in a 2013 article, distinguish between international sport used for diplomatic purposes and international sport-as-diplomacy, which encompasses the range of diplomacy that occurs as teams and competitors, spectators and fans, and government officials all converge for international sporting events like the Olympic Games and FIFA World Cup. Diplomacy scholar H.E. Chehabi, in a 2001 article on US-Iran sports diplomacy, describes the interaction between spectators and fans at international sporting events as “people-to-people diplomacy,” in which relationships develop independently of governments and their objectives. Diplomacy by the aforementioned definitions is often unsuccessful. Moreover, all too often the tools of diplomacy may be employed by governments and other actors to thwart or oppose the objectives of diplomacy as characterized by Der Derian. Governments routinely use the tools of public diplomacy to disseminate propaganda, spreading misinformation in the attempt to deceive global publics about their objectives and to create misleading impressions about their brand identity. Within sports diplomacy, the term “sportswashing” has been coined recently to describe how governments invest in and promote international sport to create positive global public impressions of their nations and, in doing so, to distract the global public from their deficient records in areas such as human rights and democratic governance. Murray, in his 2018 book Sports Diplomacy: Origins, Theory and Practice, introduces the concept of sports anti-diplomacy, wherein governments intentionally use international sport to advance aggressive and nationalistic objectives. Obvious historical examples include Hitler’s use of the 1936 Berlin Olympics to glorify his Third Reich and the 1969 El Salvador-Honduras football “war.” SUGGESTED READING The beautiful game made ugly By Emily Ryall FIFA argues that it is and seeks to be apolitical in its stewardship of international Association Football (soccer). FIFA policies governing bids to host the World Cup require uninhibited and non-discriminatory access for players, team staff, and spectators of all participating countries to host nations and venues. It became clear soon after Trump returned to power in the United States in January 2025 that Trump’s political intentions and objectives to limit non-US citizens from living and working in the United States and, in numerous cases, even visiting the country, would collide with FIFA’s host nation policies. Beginning soon after the start of the second Trump administration, US federal authorities imposed restrictions on entry to the United States of citizens of between 20 and 40 countries for any purpose, with only limited exceptions. Federal Immigration and Customs Enforcement (ICE) began arresting non-US citizens in the United States, including persons with and without legal status, holding them in jails, concentration camps, and other detention facilities until they were deported to their home or third countries, where they faced substantive risks to their personal safety. FIFA boss Gianni Infantino, in an effort to ensure the most successful and lucrative World Cup in history, engaged diplomatically with President Trump in an attempt to facilitate entry to the US for World Cup participants. Infantino did all in his power to ingratiate himself with Trump, to the extent of creating a FIFA “Peace Prize,” which he awarded to Trump in December 2025 at a ceremony in the then Trump-controlled John F. Kennedy Center for the Performing Arts in Washington, DC, on the occasion of the World Cup draw. The prize was an ersatz consolation for someone who aspired in vain to win the rather more prestigious and well-known Nobel Peace Prize. And in the run-up to the World Cup, conditions became worse. In February 2026, Trump and Israeli Prime Minister Benjamin Netanyahu launched a war of aggression against Iran, illegal under international law, under the false pretence that Iran’s government was preparing to attack the United States and Israel. During the US aerial bombardment of Iran, US planes bombed Azadi Stadium, the facility where Iran’s national football team trained. As the 2026 FIFA World Cup began, it was clear that Infantino’s efforts had been for naught: the Trump administration would not adhere to FIFA policies governing access to World Cup host nations. World Cup referee Omar Artan, a citizen of Somalia, was denied a US visa to enter the United States to participate in the World Cup. Trump’s government only granted US visas to Iran’s football team ten days before they were scheduled to arrive for the tournament. Numerous members of the support staff for Iran’s team were denied US visas. Iran’s team, which had been scheduled to train in Arizona, was directed to shift its training site to Tijuana, Mexico, notwithstanding that all three of their group stage matches took place at US venues. The US Department of Homeland Security only permitted the Iranian team to enter the US on the day before each scheduled match and then to return to Mexico immediately after playing. Members of Iraq’s and Switzerland’s football teams were delayed for hours by US officials at the US border, and an Iraqi team photographer was refused entry. Spectators and fans from Haïti and Iran were denied entry to the United States altogether. A large number of fans from a range of countries had their applications for US visas rejected. There were multiple off-ramps through which participants could have avoided the negative consequences of Trump’s decisions for the 2026 World Cup. Once it was clear that the Trump government intended to violate the established expectations for World Cup hosts, FIFA could have shifted the matches scheduled to take place in the United States to Mexico and Canada. The three nations were already designated as co-hosts, and host cities and venues had been selected. Once it was clear that FIFA, governed by FIFA boss Gianni Infantino’s dependent and dysfunctional relationship with Trump, would never consider this option on its own, it fell to the national football federations to act. The national federations, particularly some combination of federations of the leading contenders (France, Spain, Brazil, Argentina, Morocco, England, Germany, etc.), could have refused to participate under the US-imposed conditions or, at the least, demanded an ironclad agreement with the Trump government that FIFA policies on access would be respected. ___ International sport is inextricably entangled with diplomacy of different sorts, for good or ill, it cannot be considered to be in the purely private realm and left to revenue-maximizing private actors. ___ Why did neither FIFA nor the national football federations act to protect the interests of players, team staff, referees, fans, and spectators? In essence, the relentless engines of capitalism prevailed over norm observance, ethics, and fair play. The revenue interests of FIFA, sponsors, global media, and host cities won out. FIFA’s managers viewed hosting another World Cup principally in the United States as a veritable pot of gold for FIFA and its collaborators. FIFA has estimated its own revenue over the 2023-26 budget cycle, which includes the 2026 World Cup, at $13 billion, revised up from an initial projection of $11 billion, and 72% higher than the previous revenue cycle. Of that total, FIFA is estimated to have generated $8.9 billion from the Cup itself in revenue from TV rights ($3.92 billion), sponsorships ($2.69 billion), ticket sales ($3.1 billion), licensing rights, and other sources. A joint study by FIFA and the World Trade Organization estimates that the World Cup will contribute over $40 billion to global GDP, including nearly $14 billion in direct visitor spending in the three host countries (but principally in the United States, which hosted the lion’s share of the matches). The FIFA World Cup is now reportedly “the single most lucrative recurring commercial property in global sport.” And yet, notwithstanding the Trump government’s uses of the World Cup for sports anti-diplomacy, and the climate of anxiety that this created for participants and spectators, diplomacy that did not depend upon governments was able to thrive at the World Cup. Examples of successful people-to-people diplomacy were legion, as citizens of towns and cities across the States, as well as in Mexico and Canada, welcomed team members, their families and supporters, to training sites across North America. Fans of different teams joined together in person in stadiums for matches, at watch parties and bars, and at welcome events sponsored by host cities. The joy and camaraderie shared between the citizenry of Boston and Scotland’s “Tartan Army” of fans is but one example of how the “Beautiful Game” brings people together. Friendships forged across continents are likely to endure well beyond the Cup final. Even those achievements cannot be seen as unalloyed, however. As South African football fan Byron Pillay commented to Al Jazeera, “Football is called the Beautiful Game for a reason, for its ability to unite people. But it’s hard to believe in that magic with the politics and war rhetoric off the field of play, especially when one of the tournament hosts is central to that.” Ultimately, the experience of the 2026 FIFA World Cup illustrates that, as international sport is inextricably entangled with diplomacy of different sorts, for good or ill, it cannot be considered to be in the purely private realm and left to revenue-maximizing private actors. As long as there is the possibility of diplomatic progress in mediating estrangement between governments or between peoples, there is a broad and overarching public interest in international sport. Likewise, as it would be difficult to put on an international sport mega-event without international sporting organizations like FIFA and the International Olympic Committee (IOC), global media firms, and companies purchasing sponsorships, public and private interests in international sport must coexist, most likely somewhere on a shifting spectrum between partnership and rivalry or cross purposes. As the World Cup wraps up, the IOC needs to consider its lessons before the scheduled 2028 Los Angeles Olympics if they want to avoid a media-hyped Trump version of the 1936 Berlin Olympiad. The IOC and the National Olympic Committees need to set conditions on and make demands of Trump’s government with clearly articulated consequences for non-compliance, up to and including cancellation of the Games. Time is running out for the IOC, as unlike with the FIFA World Cup, there is no at-the-ready alternate venue for Los Angeles.
Shein Targets Over $40 Billion Valuation After China Nod for IPO
The fast-fashion retailer has received China’s nod for its long-awaited Hong Kong initial public offering, after its efforts to go public in the U.S. and London faced geopolitical and regulatory hurdles.
The Purpose Pivot: Activating Business Strategies to Reshape Systems
Our Purpose Pivot series continues with Ravneeta Consul ’06. As chief operating officer of Undue Medical Debt, Consul works on one of the most widespread and least visible financial burdens in the United States. The national nonprofit has abolished more than 40 billion dollars of medical debt for 27 million people across all 50 states, while also working to change how the system itself is understood and addressed.
Silicon Valley’s $140 Billion Tax Break Is Going Mainstream
At business breakfasts and investor lunches across the US, the topic du jour is a strategy pioneered in Silicon Valley to avoid paying taxes on billions of dollars of capital gains.
How the World Cup could boost the growing sports economy
The FIFA World Cup 2026 could create more than $40 billion in global GDP, part of a wider sports economy that is set to reach $8.8 trillion by 2050.
Google To Up Anthropic Investment As Cloud Giants Chase AI Business
Alphabet plans to invest $10 billion more in Anthropic and possibly up to $40 billion more. Google stock edged up amid the news.
EU small businesses reach record €40 billion in sales on Amazon
Cross-border sales hit €13.5 billion as SMEs thrive across the EU.
Medical Tourism Is Becoming A Multi-Billion Dollar Business
The industry is expected to reach a market size of nearly $140 billion by 2032.
Unilever Has $40 Billion in Tasty M&A Options
Options have value. And it’s become clear this week that Fernando Fernandez has more than one when it comes to setting a new course for Unilever Plc’s food business, owner of Hellmann’s mayo and Knorr stock cubes. How the consumer giant’s still relatively new chief executive officer plays his hand will likely define his tenure.
NBAA: Business Aviation’s Leadership in Sustainability Innovation Underscored in ‘CLIMBING. FAST.’ Capitol Hill Fly-In
The CLIMBING. FAST. Capitol Hill Fly-In, organized by NBAA, underscored the industry's essential role in supporting 1.3 million American jobs and nearly $340 billion in economic output, while driving innovation in sustainable technologies and clean fuels.
The $40 Billion Game of Youth Sports Has Only One Winner: Dick’s Sporting Goods
Parents have never spent more time and money on youth sports—or at this sports juggernaut..
SoftBank seeks up to $40 billion loan to finance OpenAI investment, Bloomberg News reports
SoftBank is seeking a loan of up to $40 billion, primarily to finance its investment in ChatGPT-maker OpenAI, a Bloomberg News reporter said in an X post on Friday.
Melco Resorts & Entertainment (MLCO) Is Down 12.9% After Return To Quarterly Profitability And Record Five-Star Awards
In February 2026, Melco Resorts & Entertainment reported fourth-quarter 2025 results showing revenue rising to US$1,293.27 million and a swing from a US$20.27 million net loss to a US$60.64 million net income, supported by stronger gaming performance in Macau and Cyprus. Alongside this financial improvement, Melco secured a record 19 Forbes Travel Guide Five-Star Awards and maintained about US$2.40 billion of liquidity, underscoring both operational strength and brand positioning across its...
Carbon Credit Business Report 2026: Market to Grow by 18% to Reach $4,938.7 Bn - Investment Opportunities by 2035: Astute Analytica
The global carbon credit market is experiencing explosive growth, driven by robust corporate demand, net-zero targets, and tightening regulations. This market saw 161 million credits retired in 2023.Chicago, Feb. 02, 2026 (GLOBE NEWSWIRE) -- According to recent data from Astute Analytica, the global carbon credit market was valued at US$ 1,142.40 billion in 2024 and is projected to hit the market valuation of US$ 4,983.7 billion by 2035 at a CAGR of 18% during the forecast period 2025–2035. The
A $40 Billion Idea to Keep One Glacier From Flooding the Earth
Scientists have long opposed polar geoengineering. Some now believe it will be necessary.
Taiwan’s $40 Billion Military Spending Plan Stalled by Political Impasse
Taiwan’s domestic gridlock is revealing a deep-seated fracture over how the island should defend itself and how much it can depend on the United States.
Amazon’s stock could be supercharged by this growing business
Amazon’s highly profitable ad business could double in revenue to over $140 billion by 2030, according to a recent report from TD Cowen.
Navigating the rising costs of youth sports
The Aspen Institute estimates that the youth sports industry generates $40 billion in annual revenue.