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If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all. The business owners that power this multibillion dollar industry are changing, and a new era of the business of sports is underway. From media and technology to finance and real estate, leagues and teams across the globe have matured into far more than just back page entertainment. And the decisions they make have huge consequences, not just for the bottom line, but for communities, cities, even entire countries.
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Carmakers such as BMW have been doing relatively well there, and the European auto industry has enough problems of its own.
German luxury still sells.
Photographer: Qilai Shen/Bloomberg
China has become the fail-safe excuse for every bad economic indicator in the world. Among industries, autos are playing a similar role.
So it should be little surprise that both have been fingered as fall guys for a slump in Germany manufacturing activity that spurred gloom over global growth and doom in financial markets (including an inverted U.S. yield curve). The purchasing managers’ index fell to the lowest in six-and-a-half years. Economists at Goldman Sachs Group Inc. said it was the biggest reaction to German data that they could recall.