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Reports US

US stock market daily report (June 13, 2014, Friday)

June 16, 2014, Monday, 04:56 GMT | 23:56 EST | 08:26 IST | 10:56 SGT
Contributed by Millennium Traders

The World Cup in Brazil is reportedly the most expensive ever, with an estimated cost of $11.3 billion. The Brazilian government refers to this years World Cup as, the Cup to end all Cups. Brazil, who will also host the 2016 Olympics, continues to see protests and strikes plaguing the country, with millions taking to the streets in dispute of the continued poor public services received in the country.

Thousands of residents from Brazil marched nationwide carrying banners telling FIFA to "go home". Scattered violent protests were a reminder that many Brazilians remain angry over the cost of the tournament and 61% of Brazilians believe hosting the World Cup is bad for the country. Negativity surrounding the World Cup has forced some sponsors to alter their marketing strategy.

A FIFA source said, "The positive to be taken out of Brazil is that we have learnt from it and will do things differently next time." Word from the source said that FIFA should have insisted that Brazil cut the number of host cities from 12, which would have reduced the number of potential problems with unfinished infrastructure and FIFA should have made good on the threat to move games if venues weren’t quite ready for prime time.

Due to extensive delays in completion of the stadium as well as opposition from Brazilian residents, the International Olympic Committee may be forced to accept less ambitious bids to reduce the risk of public backlash. The bidding process means countries with financial means to splurge on state-of-the-art stadiums will attract more support.

FIFA, the world soccer organization, is facing corruption allegations over Qatar winning the right to host the 2022 World Cup. Soccer’s European body UEFA has reduced the burden on any one country for its European Championship, with the 2020 tournament to be played in 13 cities across Europe.

Happy Fathers Day to all Fathers out there!