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Business Could Start Early Because Of World Cup

The 2022 FIFA World Cup is already throwing domestic football calendars out of sync and altering players’ workloads, but its impact on club football could extend even further.

The World Cup usually takes place in June and July when most leagues around the world are in their offseason, but this edition is being played in the northern hemisphere’s autumn months for the first time ever in order to avoid the sweltering summer months of the host nation , Qatar.

As well as affecting the timing of club seasons, this unusual scheduling could also have an effect on one of the most high-profile and potentially lucrative aspects of global football—the transfer market.

Even when scheduled at its usual time, the World Cup can affect the movement of players.

In the buildup to these tournaments, players can naturally tend to put their international careers before their club careers, prioritizing the chance to be fit for, or even just be chosen for, their national teams ahead of the big tournament.

This can see players put opportunities for bigger contracts on hold if they think they might not play as much at their new club, and choose to remain at a one where they are already considered successful and

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Businesses demand mandatory biodiversity risk disclosures ahead of COP15 in Montreal

With little to no progress made in halting and reversing catastrophic biodiversity loss in the past few years, hundreds of companies have stepped up demands for regulations to increase transparency and accountability.

Businesses must be compelled to “assess and disclose their impacts and dependencies on biodiversity by 2030,” more than 330 firms and financial institutions from 56 countries said in an open letter published today (Oct. 26), organized by the Business for Nature coalition and addressed to world leaders. The signatories include Sweden’s furniture giants IKEA, India’s Tata Steel, and French international banking group BNP Paribas, among others.

As some large businesses demand regulations, other big companies have been linked to lobbying attempts to resist such laws. Currently, any biodiversity reportage is mostly voluntary and scattered. The statement is urging governments “to transform the rules of the economic game and require business to act now” before COP15 in Montreal in December, where the new Global Biodiversity Framework will be formed.

Quotable

“Biodiversity loss could have significant macroeconomic implications. Failure to account for, mitigate, and adapt to these implications is a source of risks relevant for financial stability.”—Network for Greening the Financial System (NGFS)

By the digits

$1.5 trillion: the combined revenue of all signatories of the letter

$41.7 trillion: more than half of global GDP is dependent on the healthy functioning of the natural world, according to insurance group Swiss Re

$1.8 trillion: how much the world spends on subsidizing industries that harm the environment and wildlife each

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‘Davos in the Desert’ lures American business leaders despite political concerns : NPR

Attendees watch David Solomon, chief executive officer of Goldman Sachs & Co., on a screen as he speaks during a panel session at the Future Investment Initiative (FII) conference in Riyadh, Saudi Arabia, on Tuesday, Oct. 25, 2022.

Tasneem Alsultan/Bloomberg via Getty Images


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Tasneem Alsultan/Bloomberg via Getty Images


Attendees watch David Solomon, chief executive officer of Goldman Sachs & Co., on a screen as he speaks during a panel session at the Future Investment Initiative (FII) conference in Riyadh, Saudi Arabia, on Tuesday, Oct. 25, 2022.

Tasneem Alsultan/Bloomberg via Getty Images

The relationship between the United States and Saudi Arabia is at its lowest point in decades. But that hasn’t stopped Wall Street executives and some of the world’s wealthiest investors from gathering in Riyadh for a conference that’s nicknamed “Davos in the Desert.”

On Tuesday, Jamie Dimon and David Solomon, the CEOs of JP Morgan Chase and Goldman Sachs, respectively, shared a stage with billionaires Stephen Schwarzman, of The Blackstone Group, and Ray Dalio, who founded the world’s largest hedge fund.

Former President Trump’s son-in-law, Jared Kushner, also appeared at the Future Investment Initiative (FII) conference, and former Treasury Secretary Steven Mnuchin is scheduled to speak on Wednesday. Both Kushner and Mnuchin now run private equity funds backed by Saudi Arabia.

But no cabinet officials or senior staff from the Biden administration are there, because the White House is currently reevaluating its partnership with Saudi Arabia.

Former President Trump’s son-in-law, Jared Kushner, at the Future

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