When the World Cup knockout round began Sunday, Kalshi joined the likes of Coca-Cola, Visa and Adidas with sideline advertising in the stadiums — an unusual addition, given that the event is halfway over, and also that FIFA already signed up an “official prediction markets partner” in ADI Predictstreet, a startup with ties to the Abu Dhabi royal family.

The last time the World Cup came to the US was 1994. Before then, the World Cup was an enormously popular event with surprisingly limited commercial significance. The 1990 tournament in Italy, for instance, lost money for broadcasters. But that all changed in 1994, when American companies sought to make their mark in the form of advertisements and sponsorships: firms like McDonalds, Mastercard, and General Motors saw the potential to reach a global audience through one of the world's most watched sports events. On this episode, we speak with Joey D'Urso, a freelance sports journalist and author of the recent book, More Than A Shirt: How Football Shirts Explain Global Politics, Money and Power. We talk about the changes from the 1994 World Cup and this year's competition, which is being held jointly, by the US, Canada, and Mexico. We also talk about other surprising stories of corporate and geopolitical influence in football. (Source: Bloomberg)

Carlsberg A/S is preparing a major shift in its soft drinks strategy, replacing Coke with Pepsi across much of Northern Europe in a move set to reshape the region’s beverage market.

After almost a century of operating in South Africa, Coca-Cola Co. is deepening its investment in the market with a fresh 17.6 billion-rand ($1 billion) commitment to expand capacity and distribution through 2030.

In 2020, a US Tax Court largely upheld the IRS's transfer pricing adjustments against Coca-Cola. That left the company facing about $2.7 billion in additional taxes after the court found the company had under-reported income from transactions between its overseas affiliates. With interest, the total swelled to roughly $6 billion. Coke is appealing the decision. Cross-border transfer pricing is how multinational companies price transactions between related entities. Governments use these rules to prevent improper profit shifting. This video explains how it works — and how it can trigger billion-dollar tax bills. (Source: Bloomberg)

Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec. (Source: Bloomberg)

As McKinsey & Co. partners gathered in the consulting giant’s birthplace in late October, Bob Sternfels delivered a rallying cry. “We will kick some ass as we start our second century,” the firm’s top executive told the thousands of attendees.

Coca-Cola Co. is holding last-ditch talks with TDR Capital this weekend as its proposed sale of Costa Coffee faces the risk of collapse, the Financial Times reported, citing people with knowledge of the matter.