A 170-year-old rivalry is flaring up as Kansas lawmakers try to snatch the Super Bowl champion Kansas City Chiefs away from Missouri even though economists long ago concluded subsidizing pro sports isn't worth the cost. The Kansas Legislature's top leaders endorsed helping the Chiefs and professional baseball's Kansas City Royals finance new stadiums in Kansas ahead of a special session set to convene Tuesday. The plan would authorize state bonds for stadium construction and pay them off with revenues from sports betting, the Kansas Lottery and new tax dollars generated in and around the new venues.
STORY: From a slew of central bank meetings, to the Euro Cup descending upon Germany, these are the stories to watch in business and finance in the coming week.:: Look Ahead:: Will Britain, Switzerland and Norway see rate cuts?Britain, Switzerland and Norway hold central bank meetings on Thursday.The Bank of England will likely dash any hopes the ruling Conservative party had of a pre-July 4 election rate cut.Markets now expect easing later rather than sooner.There’s a 50-50 chance the Swiss National Bank will cut again.Norway on the other hand, is in no rush.:: U.S. sales reportU.S. monthly retail sales numbers are out Tuesday.They're expected to have risen 0.3% in May, according to a Reuters poll, after they were unexpectedly flat in April.Investors will be watching consumer spending to gauge the impact of higher interest rates on the economy, now that rate cuts aren't expected before September.:: China’s troubled property sectorData on China’s home prices is due on Monday.It’s the first such release since Beijing announced (quote) “historic” steps to stabilize the property market - though to limited effect so far.May industrial output, urban unemployment rate and retail sales data are due too.:: Euro 2024 kicks offFans have descended upon Munich for the European Football Championship.German beer halls and companies hope they will drink more and buy big TVs.Berlin wants the tournament to give its lumbering economy the same kind of lift the sizzling 2006 World Cup did.
Borrowing costs imposed on the French government jumped to the same level as that of Portugal on Friday amid fears that political turmoil in Paris could spark a financial crisis.