Manchester United is the most famous soccer team in the United Kingdom, and one of the world's most popular sports teams. Now its owners are hoping the team's popularity will translate into big bucks. They're planning to sell Manchester United stock on the New York Stock Exchange. Roger Blitz, of the Financial Times, talks to Renee Montagne about the team's IPO.
A woman pushes a pram though the Plaza de Murillo on July 3 in Madrid. Spain's custom for multiple families to live under the same roof has tied them closer together as well as their wallets. The country has the highest unemployment rate in the Eurozone, and government benefits help aid those out of work.
What used to be a Spanish tradition is now becoming more of an economic necessity.
In Spain, the social safety net that helps people survive the economic crisis has two parts: government benefits and close family ties. The country has the highest rate in Europe of multi-generational families all living together.
With a quarter of Spaniards out of work, more parents pick up their kids from school themselves, in the middle of what would have been a workday.
A "For Sale" sign hangs outside mostly empty apartment blocks in the Madrid satellite town of Sesena in February. Banks are trying to sell billions of euros worth of property left by bankrupt developers. This is attracting bargain-hunting investors from abroad.
Back in the day, Madrid's Palace Hotel was Ernest Hemingway's old haunt, or at least the bar was. Now, rooms at the posh hotel just down from the famed Prado Museum go for up to $6,000 a night. And gathering in its lobby these days? An altogether different type of foreigner: the kind in expensive suits.
"Probably they are institutional investors, hedge funds, sovereign wealth funds," says Federico Steinberg, an economist at Madrid's Elcano Institute.
There's a lot of cash around the world, he says, and a lot of people looking for bargains.
This is ALL THINGS CONSIDERED from NPR News. I'm Melissa Block.
ROBERT SIEGEL, HOST:
And I'm Robert Siegel. Executives of the company that makes BlackBerries faced their shareholders today in Ottawa, Canada, and it was not a happy meeting. [POST-BROADCAST CORRECTION: The meeting was held in Waterloo, Ontario, not in Ottawa.]
This is TALK OF THE NATION. I'm Neal Conan in Washington. Heat in the summertime is usually not news, but this year is more than a little out of the ordinary. The first six months of 2012 is already on the books as the warmest half-year on record according to the National Oceanic and Atmospheric Administration.