NBA in Talks With European Football Owners to Back New Basketball League
The National Basketball Association is in talks with owners of some of Europe's largest football clubs about backing teams in a new basketball league on the continent, as part of what could be the biggest-ever international expansion push by a US sports league.
The NBA has held early-stage discussions with owners of clubs including Paris Saint Germain and Manchester City, as well as prospective backers of a London-based team, regarding potential investment and venues for the new teams, according to people familiar with the matter.
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"After that second year, no more excuses" - Shaquille O'Neal has an advice for Cooper Flagg if he ends up getting drafted by the Mavericks
"After that second year, no more excuses" - Shaquille O'Neal has an advice for Cooper Flagg if he ends up getting drafted by the Mavericks originally appeared on Basketball Network. The 2025 NBA Draft is just around the corner, taking place this Thursday at the Barclays Center, and all attention is on Duke forward Cooper Flagg. Widely regarded as the best prospect in his class, Flagg is the favorite among fans and analysts to be the Dallas Mavericks' number-one pick. Advertisement Shaquille O'Neal, the legendary NBA big man who knows what it is like to play in Texas, having played his high school basketball in San Antonio, remarked how playing in Dallas would benefit Flagg. He said he'll have a long leash at first before fans expect more out of him after his second season in the league. Shaq thinks patience will serve Flagg well Unlike most top picks, Cooper will not be expected to come in and immediately turn the Mavericks into a title contender. Instead, he'll have the luxury of developing under the guidance of established veterans like Anthony Davis, Kyrie Irving, Klay Thompson, and P.J. Washington. This will allow him to learn the NBA game at his own pace and develop his skills without the pressure of trying to do it all to elevate the Mavs. Shaq says Cooper has a luxury most top picks never had: time. Advertisement "Just take your time," Diesel said when asked what advice he would give to the highly touted player from Newport, Maine. "You know, good thing about NBA and our culture and Texas culture, they going to give you room to breathe. First year, we wanna see what you do. Now if you show us you can do some, that second year, we're gonna be expecting some. After that second year, no more excuses," Shaq established. The Mavs organization and its fans have endured a challenging period over the last few months following the trade of Luka Doncic to the Los Angeles Lakers. The arrival of Flagg, though, has brought much-needed excitement and hope for the future. However, as patient as the fan base will be with the prized rookie, Dallas is hoping he can contribute in their bid to return to elite status in the West. "We going need you to step it up, but he comes from a great family background. He's a fine player. The Mavs have always been an excellent first-class organization," O'Neal said. "They're gonna treat him well. They're gonna teach them the things you need to know. I look forward to watching them play." Helpful lessons for the rook Shaq joined the NBA in 1992 and hit the ground running, winning Rookie of the Year honors and blazing a path across the league for the next two decades. Now retired and enjoying life as a popular broadcaster and a successful businessman, he shared some pearls of wisdom for Flagg to hopefully take to heart. Advertisement One of Shaq's main pieces of advice was the importance of listening to the right people, which means people with Cooper's best interests at heart. "You have to listen to the important people," Shaq conveyed. "First of all, listen to your parents, to the GM, listen to the trainer, and listen to the coach. And then, whoever you pick as your friend on the team or vet, listen to him." "You start going off doing your own thing because you made it and you got your money now, things can go like they're not supposed to go. So if you just listen, think my greatest attribute as a rookie was always listened," he continued. Flagg will wear a Mavericks cap on Thursday if everything goes as expected. And with the ideal situation he'll be going to, he is likely to flourish under the guidance of a strong and supportive team. Advertisement Related: Cooper Flagg says he doesn't model his game after anyone but would love to have Curry's shotmaking This story was originally reported by Basketball Network on Jun 23, 2025, where it first appeared.
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Burberry shares rise as brokers forecast resilient results
LONDON (Reuters) -Burberry shares rose on Wednesday as brokerages turned relatively upbeat on the British luxury brand before its first quarter trading statement on July 18. Jefferies and HSBC both raised their target prices for the company's shares before the results. "Q1 sales should confirm the brand's newfound (relative) resilience," Jefferies equity analyst James Grzinic said in a note. Barclays said it expects retail comp sales to be down 4% in the first quarter of the 2026 financial year, improving slightly versus the fourth quarter of 2025, driven by "easier comps and gradual brand heat improvement." By 1030 GMT, Burberry shares were up 5.7% at 10.71 pounds. Shares are up 9.6% this year, compared to a 5.5% fall for the STOXX Europe Luxury 10.
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Morning Bid: Fed rate bets surge as oil calms
By Mike Dolan LONDON (Reuters) - What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets As the geopolitical center of gravity shifts from the Middle East to the NATO summit, Wall Street turns its attention back to the domestic economy and rising speculation about a U.S. interest rate cut as soon as September. I'll discuss all the market news below. Make sure to check out today's column, where I zero in on the U.S. economic metric that has just surged to its highest point since 2006. Today's Market Minute * NATO leaders were set to sign up on Wednesday to a big increase in defence spending at a short summit tailor-made for U.S. President Donald Trump, who struck a reassuring tone on his commitment to protecting fellow members of the alliance. * The ceasefire brokered by President Trump between Iran and Israel appeared to be holding on Wednesday, a day after both countries signalled their air war had ended, at least for now. * The contained move in oil prices during the Israel-Iran war highlights the increasing efficiency of energy markets and fundamental changes to global crude supply. ROI columnist Ron Bousso explains why Middle East politics may no longer be such a dominant force in oil markets. * The Reserve Bank of India's jumbo rate cuts in early June took economists by surprise, as many indicators point to an economy chugging along nicely. Manishi Raychaudhuri, CEO of Emmer Capital Partners, asks why the RBI needed to frontload monetary stimulus? Fed rate bets surge as oil calms Global stocks captured by MSCI's all-country index, up more than 7% for the year-to-date, surged to record highs early on Wednesday. The ceasefire between Iran and Israel appears to be holding into Wednesday, as debate swirls about just how much damage was done to Tehran's nuclear program. President Donald Trump joins other NATO leaders in The Hague for an annual gathering of the alliance that will underscore a big boost to defense spending. But perhaps the market's big takeaway from the last two weeks of Middle East tensions is that the region is no longer the game changer it once was in global energy markets. Over the course of the near two-week conflict, global crude oil prices never hit the sort of danger zone that would shift the dial on inflation rates. And U.S. crude prices, back down at $65 per barrel on Wednesday, are now more than 20% lower than they were this time last year. That matters for central banks and the Federal Reserve trying to balance the outlook between rising import tariffs, a slowing economy, an ebbing workforce and - now falling oil prices. Even though Fed boss Jerome Powell remained non-committal on the timing of the next Fed rate cut at the first of his two-day congressional testimony on Tuesday, markets have latched on to more dovish soundings from other Fed policymakers. Fed futures now fully price a quarter-point rate cut by the September policy meeting, with previously hawkish Fed board governor Michelle Bowman indicating this week she may vote for a cut as soon as July. Futures pricing now sees some 60 basis points of cuts by year-end and the so-called "terminal rate" in the Fed's easing cycle has fallen close to 3.0% for February 2027 - almost 40bp lower than it was just a month ago and more than 130bp below current rates. While the oil price relapse has helped, emerging splits among Fed policymakers have intensified speculation about what happens when Powell ends his term as Chair in May next year. Incoming economic news is also fueling the rate chatter, with consumer confidence readings for June unexpectedly plunging and housing markets starting to wobble too. The Federal Housing Finance Agency showed single-family house prices fell 0.4% in April, the first decline since August 2022. That lowered the annual increase to 3.0% in April, the smallest rise since May 2023. And with pressure mounting on the Senate to pass Trump's fiscal bill as soon as this week, U.S. Treasuries have lapped up both the oil retreat and Fed talk - even as they negotiate more than $200 billion of new debt sales this week. Adding to the mix, Treasury Secretary Scott Bessent said the date for the nation to reach its debt ceiling could change if courts interfere with Trump's tariff policies. Two and 10-year Treasury yields fell to six-week lows on Wednesday regardless. And the dollar is bearing the brunt of the easier rate horizon. The euro hit new three-year highs on Tuesday and held above $1.16 today as Germany outlines details of the big spending, borrowing and defense push this week. Wall Street stocks caught the tailwinds of easier energy, rates and the dollar - rallying more than 1% on Tuesday and futures held those gains overnight. The gains in Asian and European stocks over the past two days have been just as impressive, leading the global index to new all-time highs. The twin impact of easier oil and the dollar is a major relief for crude importers. And with NATO aiming to lift defense spending targets to some 5% of GDP, European defence stocks that already up almost 50% this year added another 1% on Wednesday. In company news, FedEx shares dropped nearly 6% in pre-market trading after the logistics giant sounded caution for the full year and forecast current-quarter earnings below expectations as it battles pressures from U.S. tariffs. Tesla's new car sales in Europe fell 27.9% in May from a year earlier even as fully-electric vehicle sales in the region jumped 27.2%. And Worldline fell over 20% after an investigation by 21 European media outlets alleged the French digital payments company covered up client fraud to protect revenue. Chart of the day: NATO leaders were set to sign up to a big increase in defense spending at a short summit tailor-made for U.S. President Donald Trump, who struck a reassuring tone with his commitment to protect fellow members of the alliance. The summit is expected to endorse a higher defense spending goal of 5% of GDP, reflecting demands by Trump and Europeans' fears that Russia poses a growing threat to their security following the 2022 invasion of Ukraine. Defense spending across virtually all NATO members has risen over the past 10 years to an average of about 2.5% of collective GDP. Only the United States - the fourth biggest spender as a share of national output – has seen its defense bill fall as a percentage of GDP since 2014. Today's events to watch * U.S. May new home sales (10:00 AM EDT) * Fed Chair Jerome Powell reprises semi-annual monetary policy testimony before Senate Banking, Housing and Urban Affairs Committee (10:00 AM EDT) * Kansas City Fed President Jeff Schmid speaks; Bank of England chief economist Huw Pill and BoE policymaker Clare Lombardelli speak * U.S. Treasury sells $70 billion 5-year notes, and $28 billion of 2-year floating rate notes * U.S. corporate earnings: Micron Technology, General Mills, Paychex Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. (by Mike Dolan; editing by Anna Szymanski and Alex Richardson) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
