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Man City make transfer bid for Tottenham striker

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Harry Kane of England scores a penalty in a shootout at the end of extra time during the 2018 FIFA World Cup Russia Round of 16 match between Colombia and England at Spartak Stadium on July 3, 2018 in Moscow, Russia. 

Robbie Jay Barratt – AMA/Getty Images

Manchester City have made a £100m bid for Tottenham striker Harry Kane.

City are open to including players in addition to the cash offer, but Tottenham are expected to reject the bid.

Sky Sports News exclusively reported last month that Kane had told Spurs he wanted to leave this summer with Man City, Manchester United and Chelsea interested.

Kane is valued at upwards of £120m and Tottenham keen to keep him despite the 27-year-old believing he has a gentleman’s agreement with Daniel Levy.

The England captain is said to be fully focused on the Euros, with a decision on his club future not expected before the conclusion of the tournament.

Man City chairman Khaldoon Al Mubarak said after last month’s Champions League final that the club will be “competitive and aggressive” this summer, and are aiming to strengthen by bringing “quality to the squad in a couple of key positions”.

The Premier League champions’ priority is to replace Sergio Aguero, with Kane being considered along with Erling Haaland, Romelu Lukaku and Lautaro Martinez.

Man City begin their Premier League title defense by travelling to Tottenham on August 15, live on Sky Sports.

Kane insists that neither a lack of fitness nor speculation over his future at Tottenham have been the reasons for his disappointing start to Euro 2020.

Kane was substituted in England’s opening win over Croatia and their underwhelming 0-0 draw with Scotland following below-par performances in both games.

His displays have come as a surprise given he enjoyed an impressive season with Spurs, topping the Premier League charts for goals and assists, despite his club’s struggles.

And while he did sustain a couple of ankle injuries during the campaign, he returned from the most recent of those nearly two months ago, and was a regular for Spurs until the end of the season.

Kane won the Golden Boot at the 2018 World Cup – a factor that has only added to expectations on him at Euro 2020 – and although he admits he became fatigued in Russia three years ago, he says that is not the problem this time around.

“Gareth [Southgate] is within his rights to make the changes he thinks are best for the team,” Kane told The Guardian when asked for his reaction to being replaced in both of England’s games so far.

“What we’ve learned over past tournaments is about trying to peak at the right time. The best time to be peaking is in the knockout stages and hopefully kick on from there.

“Maybe in Russia there were times, towards the quarter and semi-final, when I wasn’t as sharp as I wanted to be. In the end we didn’t get to where we wanted to go, maybe partly for that reason.

“It’s about managing the squad, making sure everyone is feeling as fit and sharp as possible. In my case, it was a tough couple of games and it’s about making sure I’m right for the rest of them.

“I didn’t have any issues. I didn’t feel physically I wasn’t up to it. I felt going into those games as good as I’ve felt all season, if I’m honest.”

Although Kane was one of the standout players in the Premier League during the 2020/21 season, Spurs endured a difficult campaign, finishing seventh in the table, without a trophy or a manager, having sacked Jose Mourinho in April.

The club was also rocked by the news that Kane had told them he wanted to leave this summer due to their failure to regularly compete for – and win – trophies.

Manchester City, Manchester United and Chelsea are all understood to be keen on signing the striker but, despite his future promising to be one of the main plotlines of this summer’s transfer window, Kane says it is not affecting his international performances.

“Absolutely not,” he insisted. “All my focus is on how I can help this team and how we can be successful in this tournament.

“I understand from a media point of view there is speculation, but I am fully focused on the job here.”

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Air conditioning and climate change: Start-ups trying to help

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This June was the hottest in American history. The 116-degree heat melted power cables in Portland, Oregon, and smashed previous temperature records. Seattle recorded an all-time high of 108 degrees, as did the Canadian province of British Columbia, at a whopping 121 degrees.

As the world warms, more people are installing air conditioning. Global energy demand for cooling has more than tripled since 1990 and could more than double between now and 2040 without stricter efficiency standards.

But air conditioning itself is a major contributor to global warming. Altogether, building operations that include heating, cooling and lighting account for 28% of the world’s total greenhouse gas emissions. That’s more than the entire global transportation sector.

But SkyCool, Gradient and a number of other companies are working on the problem. They’re trying to apply new technologies to the traditionally inflexible heating and cooling industry, finance the upfront costs, communicate the value to property owners and make sure it’s all done equitably. 

Watch the video to learn more.

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The U.S. is deciding how to respond to China’s digital yuan

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China is beating the U.S. when it comes to innovation in online money, posing challenges to the U.S. dollar’s status as the de facto monetary reserve. Nearly 80 countries — including China and the U.S. — are in the process of developing a CBDC, or Central Bank Digital Currency. It’s a form of money that’s regulated but exists entirely online. China has already launched its digital yuan to more than a million Chinese citizens, while the U.S. is still largely focused on research.

The two groups tasked with this research in the U.S., MIT’s Digital Currency Initiative and the Federal Reserve Bank of Boston, are parsing out what a digital currency might look like for Americans. Privacy is a major concern, so researchers and analysts are observing China’s digital yuan rollout.

“I think that if there is a digital dollar, privacy is going to be a very, very important part of that,” said Neha Narula, director of the Digital Currency Initiative at the MIT Media Lab. “The United States is pretty different than China.”

Another concern is access. According to the Pew Research Center, 7% of Americans say they don’t use the internet. For Black Americans, that rises to 9%, and for Americans over the age of 65, that rises to 25%. Americans with a disability are about three times as likely as those without a disability to say they never go online. That is part of what MIT is researching.

“Most of the work that we’re doing assumes that CBDC will coexist with physical cash and that users will still be able to use physical cash if they want to,” Narula said.

The idea of a CBDC in the U.S. is aimed, in part, at making sure the dollar stays the monetary leader in the world economy.

“The United States should not rest on its current leadership in this area. It should push ahead and develop a clear strategy for how to remain very strong and take advantage of the strength of the dollar,” said Darrell Duffie, professor of finance at Stanford University’s Graduate School of Business.

Others see the digital yuan as insidious.

“The digital yuan is the largest threat to the West that we’ve faced in the last 30, 40 years. It allows China to get their claws into everyone in the West and allows them to export their digital authoritarianism,” said Kyle Bass of Hayman Capital Management.

Watch CNBC’s deep dive video into CDBCs to learn more.

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Warren Buffett’s advice from 1999 on how he’d invest $10,000

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If you want to be as rich as Warren Buffett, don’t wait to get started. That’s the advice that the investing titan shared in 1999 at Berkshire Hathaway’s annual shareholders meeting when asked how to make $30 billion, which was roughly his net worth at the time.

The then-68-year-old Buffett — whose fortune has since grown to more than $100 billion — said that compound interest is an investor’s best friend and compared building wealth through interest to rolling a snowball down a hill.

“Start early,” Buffett said. “I started building this little snowball at the top of a very long hill. The trick to have a very long hill is either starting very young or living to be very old.”

The Oracle of Omaha said that if he were graduating from college in 1999 and had $10,000 to invest, he would be strategic about choosing where to put his money. “I probably would focus on smaller companies because I would be working with smaller sums and there’s more chance that something is overlooked in that arena,” Buffett explained, saying he would start examining companies alphabetically and work his way from there.

Investors, Buffett explained, need to fend for themselves and rely on their own knowledge and intuition when searching for promising businesses to invest in. He added that savvy investors would do best to “learn what you know and what you don’t” and act “very vigorously” when they see something they consider to be a good opportunity.

“You can’t look around for people to agree with you,” Buffett said of putting money into an investment. “You can’t look around for people to even know what you’re talking about.”

That said, Buffett is also a staunch supporter of index funds, which hold every stock in an index, making them automatically diversified. To build wealth, investors should “consistently buy an S&P 500 low-cost index fund,” Buffett said in 2017. “Keep buying it through thick and thin, and especially through thin.”

Still, Buffett said that aspiring to make $30 billion is unnecessary, and recently said that the size of his fortune is “incomprehensible.”

“The money makes very little difference after a moderate level,” he said.

He continued: “If you asked me to trade away a very significant percentage of my net worth either for some extra years on my life or being able to do during those years what I want to do, I’d do it in a second.”

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Don’t miss: Here’s why Warren Buffett isn’t leaving his $100 billion fortune to his kids

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