Legendary boxer Floyd Mayweather Jr. is the target of a lawsuit filed by a promotions company that alleges it paid millions in advance fees for exclusive rights to two high-profile exhibition bouts, only for the undefeated former champion to pursue other opportunities. The legal action highlights the complex financial arrangements common in professional boxing’s exhibition circuit.

CSI Entertainment filed the complaint Thursday in New York, seeking damages and injunctive relief after claiming it transferred $4.65 million to secure rights for Mayweather fights against Mike Tyson and Manny Pacquiao. According to the filing, the payments went to Mayweather’s management company, Frist Apex Ventures, with the boxer personally approving the agreements.

The first proposed bout involved an exhibition against Tyson, the former heavyweight champion known for his power and cultural impact. The second was described as a potential rematch with Pacquiao, which would have seen Mayweather risk his perfect 50-0 professional record. Both fights represented significant commercial prospects given the star power involved.

CSI Entertainment asserts it invested substantial resources in promoting the events, including marketing and logistical planning. The company claims that shortly after receiving a separate $150,000 advance, Mayweather announced a different fight against Greek kickboxer Mike Zambidis with another promoter. Additionally, the lawsuit alleges Mayweather secretly agreed to a streaming deal for the Pacquiao bout on Netflix from Las Vegas’ Sphere venue.

The promoters argue these actions violated their exclusive rights and caused financial harm. They are requesting the court block the Zambidis fight scheduled for next week and prevent the Netflix event from proceeding under terms that conflict with their agreement. The suit also seeks recovery of the advanced funds or compensatory damages.

Mayweather, 49, has maintained an active presence in exhibition boxing since retiring from traditional professional competition. His bouts often draw large audiences due to his technical skill and history of pay-per-view success. The Tyson and Pacquiao matchups would have capitalized on nostalgia for iconic rivalries from earlier eras of the sport.

This is not the only legal matter involving Mayweather’s management. The boxer is reportedly pursuing his own $175 million lawsuit against Frist Apex Ventures and a former manager, alleging fraud. Such disputes underscore the intricate and sometimes contentious business dealings in combat sports.

Boxing promoters frequently invest heavily in securing talent for major events, with advances serving as commitments from fighters. When deals collapse, the financial repercussions can be significant, particularly for smaller entities competing against larger players in the industry. CSI Entertainment’s complaint details the resources expended in anticipation of the fights proceeding.

Mayweather’s legal team has not issued a public response to the latest filing. The undefeated champion, whose career earnings exceed hundreds of millions of dollars, has a history of navigating high-stakes negotiations and disputes. His exhibitions continue to generate interest despite questions about competitive integrity compared to his prime professional years.

The proposed Tyson fight carried particular intrigue given both fighters’ larger-than-life personas. Tyson, now in his 50s, has participated in several exhibition bouts in recent years, including a high-profile encounter with Roy Jones Jr. A matchup with Mayweather would have blended different eras and styles, appealing to longtime fans.

Pacquiao, a former multi-division champion and Philippine senator, has also stayed active in select bouts. A rematch with Mayweather, who defeated him by unanimous decision in 2015, would have revisited one of boxing’s biggest pay-per-view events. The 2015 fight generated record revenue but left many observers wanting more action.

The lawsuit alleges that CSI Entertainment’s promotional efforts were undermined by Mayweather’s subsequent agreements. This includes claims of secret negotiations that bypassed their exclusive rights. Such allegations, if proven, could have implications for how future exhibition deals are structured and enforced.

Combat sports industry observers note that exhibition bouts often involve complex contracts with multiple stakeholders. Advances help secure commitments but carry risks if fighters pursue alternative opportunities. The Mayweather case may serve as a cautionary example for promoters navigating this landscape.

Mayweather’s business acumen has been widely discussed throughout his career. He built a substantial fortune through savvy pay-per-view deals and diversified investments. His post-retirement activities, including exhibitions and brand partnerships, reflect continued engagement with the sport he dominated for years.

Tyson and Pacquiao represent different chapters in boxing history. Tyson’s explosive power defined the heavyweight division in the late 1980s and early 1990s, while Pacquiao’s speed and ferocity made him a superstar across weight classes. Pairing either with Mayweather’s defensive mastery would have created compelling narratives.

The Netflix streaming angle adds another layer to the dispute. Major platforms have increasingly entered combat sports, offering global reach and alternative revenue models. A Sphere event would have combined cutting-edge venue technology with high-profile talent, potentially setting new standards for live broadcasts.

CSI Entertainment seeks to halt proceedings that allegedly infringe on their rights. The request for injunctive relief underscores the time-sensitive nature of fight promotions, where dates and logistics are critical. Courts will need to balance contractual claims against the practicalities of event scheduling.

Boxing fans have reacted to news of the lawsuit with a mix of disappointment and curiosity. Many hoped for the proposed matchups, which promised entertainment value regardless of competitive outcomes. The dispute may delay or derail those possibilities, shifting focus to legal proceedings.

Mayweather’s undefeated record remains a significant part of his legacy. Any bout risking that status would generate substantial interest, particularly against a legend like Pacquiao. The Tyson exhibition carried different appeal, focusing more on spectacle than traditional scoring.

As the case progresses, additional details may emerge about the agreements and communications between parties. Both sides are likely to present evidence supporting their positions regarding the validity and scope of the deals.

The combat sports world continues evolving, with exhibitions filling gaps between major professional events. High-profile names like Mayweather drive much of the attention and revenue in this space. How this lawsuit resolves could influence future negotiations and promoter-fighter relationships.

For now, the focus remains on the claims and requested remedies. Promoters argue they acted in good faith with significant investments at stake. Mayweather’s team will presumably defend against the allegations as the matter advances through the courts.

The boxing community will monitor developments closely, given the potential impact on upcoming events and industry practices. Exhibition bouts have become an important revenue stream for veterans, but they require careful contractual management to avoid disputes like this one.

The National Stock Exchange of India (NSE) has signed a Memorandum of Understanding (MoU) with Bharat Metal Exchange Ltd. (BME), formerly known as Bombay Metal Exchange Ltd., to promote the development, awareness and adoption of non-ferrous metal derivatives in India.

BME, which has a history spanning more than nine decades, has built an extensive network across the non-ferrous metals trade and industry ecosystem. Through the partnership, NSE’s derivatives market infrastructure will be combined with BME’s industry expertise and engagement with participants in the physical non-ferrous metals market.

The collaboration is aimed at increasing market participation, strengthening price risk management practices and supporting the development of hedging tools for stakeholders across the non-ferrous metals value chain.

India is among the world’s largest consumers of industrial metals such as copper, aluminium, zinc, lead and nickel. With domestic manufacturing activity, infrastructure development, renewable energy investments and electric mobility continuing to expand, demand for mechanisms to manage commodity price volatility has also increased.

As part of the agreement, NSE and BME will work together on developing products in the non-ferrous metals segment and undertake initiatives to create awareness around price risk management through exchange-traded non-ferrous metal derivatives.

The two organisations will also engage with a broad set of stakeholders, including producers, consumers, processors, traders, importers, exporters, industry associations and financial market participants,to encourageg wider adoption of exchange-based risk management solutions.
Commenting on the development, Sriram Krishnan, Chief Business Development Officer (CBDO) at NSE, said India’s expanding industrial economy requires efficient and transparent tools to help businesses manage commodity price fluctuations. He said the collaboration with BME is intended to deepen awareness and participation in non-ferrous metal derivatives and help market participants manage price risks more effectively.Sushil R. Kothari, President of BME, said the partnership is aimed at strengthening India’s non-ferrous metals ecosystem by increasing awareness of risk management tools and encouraging broader participation from producers, consumers, traders and processors. He added that the collaboration would help bridge the gap between physical and derivatives markets by leveraging BME’s industry knowledge and NSE’s market infrastructure.

Under the arrangement, NSE and BME will jointly conduct industry outreach programmes focused on the role of non-ferrous metal derivatives in managing price risks. The partnership reflects the efforts of both organisations to support the development of India’s commodity markets and expand access to transparent and efficient risk management solutions.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Olivia Rodrigo achieves her third No. 1 album on the Billboard 200 chart as her third studio release, “You Seem Pretty Sad for a Girl So in Love,” launches atop the list dated June 27. The set bows with 485,000 equivalent album units earned in the United States in the week ending June 18, according to Luminate — marking Rodrigo’s biggest week ever by units, and the largest week of 2026 for any album by a soloist.

A Consistent Track Record at No. 1

Rodrigo also topped the Billboard 200 with her two previous studio albums, GUTS in 2023 and SOUR in 2021, extending her perfect record of debuting every studio album at the top of the chart.

Hit Singles That Set the Stage

The new album was preceded by a pair of top-five-charted singles on the Billboard Hot 100: its lead-off track “drop dead,” which reached No. 1 in May, and “the cure,” which peaked at No. 5 in June.

A Breakdown of the Units

Of the album’s 485,000 equivalent album units earned in the latest tracking week, album sales comprised 273,000 — Rodrigo’s best sales week and the largest sales week for a woman in 2026, allowing the album to debut at No. 1 on Top Album Sales. Streaming equivalent album units comprised 211,000, equaling 218.41 million on-demand official streams of the set’s tracks, the largest streaming week of 2026 by a woman, debuting the album at No. 1 on Top Streaming Albums. Track equivalent album units comprised 1,000.

Vinyl Sales Played a Major Role

The album’s first-week sales were bolstered by its availability across more than 15 physical variants, including two signed editions. Of the album’s opening-week sales, vinyl purchases comprised 164,000 — Rodrigo’s biggest week on vinyl and the largest week of 2026 by a woman.

How the Billboard 200 Is Calculated

The Billboard 200 chart ranks the most popular albums of the week in the U.S. based on multi-metric consumption as measured in equivalent album units, compiled by Luminate. Units comprise album sales, track equivalent albums and streaming equivalent albums. Each unit equals one album sale, or 10 individual tracks sold from an album, or 2,500 ad-supported or 1,000 paid or subscription on-demand official audio and video streams generated by songs from an album. The new June 27, 2026-dated chart will be posted in full on Billboard’s website on June 23.

A Tour to Follow the Release

Rodrigo will embark on The Unraveled Tour beginning on September 25 in Hartford, Connecticut, and continuing through at least May 10, 2027, in London, giving fans an extended opportunity to see the new material performed live across North America and Europe.

The Only New Entry in the Top 10

Rodrigo’s new album is the only debut in the top 10 of the latest Billboard 200, reflecting the strength of her launch relative to a chart otherwise populated entirely by previously established releases.

Drake’s ICEMAN Drops After a Four-Week Reign

Drake’s ICEMAN cedes the No. 1 slot after spending its first four weeks atop the Billboard 200, as the set dips from No. 1 to No. 2 in its fifth week on the list, earning 105,000 equivalent album units, down 21% from the prior week.

The Rest of the Top 10

Four former No. 1s follow ICEMAN on the chart. Ella Langley’s “Dandelion” falls from No. 2 to No. 3 with 84,000 units, down 4%. Morgan Wallen’s “I’m the Problem” slips from No. 3 to No. 4 with 78,000 units, down 2%. Noah Kahan’s “The Great Divide” moves up from No. 4 to No. 5 with 71,000 units, up 5%. Michael Jackson’s “Thriller” holds steady at No. 6 with 53,000 units, down 4%.

Rounding out the top 10, Jackson’s “Number Ones” rises a spot to No. 7 with 49,000 equivalent album units, down 4%. Wallen’s former chart leader “One Thing at a Time” climbs from No. 9 to No. 8 with 39,000 units, down 4%. Olivia Dean’s “The Art of Loving” moves up a spot to No. 9 with 35,000 units, down 1%. And BTS’ chart-topping “ARIRANG” ascends from No. 11 to No. 10 with 34,000 units, down less than 1%.

How the Chart Data Is Verified

Luminate, the independent data provider to the Billboard charts, completes a thorough review of all data submissions used in compiling the weekly chart rankings. Luminate reviews and authenticates data. In partnership with Billboard, data deemed suspicious or unverifiable is removed, using established criteria, before final chart calculations are made and published.

A Strong Showing Internationally as Well

Beyond the U.S. chart performance, Rodrigo’s new album has also delivered a career milestone overseas, achieving a career-best opening week as the set claimed the top spot on the U.K. albums chart. The album’s first-day streaming performance similarly broke records, underscoring the global scale of the demand surrounding the release in the days immediately following its launch.

With the album already setting multiple career and yearly benchmarks in its debut week, attention now turns to whether Rodrigo can sustain that momentum in subsequent chart weeks as she heads toward the September launch of The Unraveled Tour. Given the album’s dominant performance across sales, streaming, and vinyl purchases alike, “You Seem Pretty Sad for a Girl So in Love” appears positioned to remain a fixture near the top of the Billboard 200 in the weeks ahead, even as it now faces competition from previously established hits like Drake’s ICEMAN and a deep field of country and pop releases that have continued performing strongly throughout 2026.

Yoga enthusiasts gathered in different parts of the world on Sunday to mark the International Day of Yoga. This year, the annual tribute to yoga coincided with the summer solstice, the longest day of the year.

A 12th Year of Global Observance

International Yoga Day 2026 was celebrated across the world on June 21 with the theme “Yoga for Healthy Ageing.” The annual observance highlighted the importance of yoga in promoting physical fitness, mental well-being, emotional resilience, and active ageing. Millions of people from different countries participated in yoga sessions, wellness programs, and community events to mark the occasion.

This Year’s Theme

The theme emphasizes the role of yoga in enhancing both lifespan and healthspan. It encourages people of all ages to adopt yoga as a regular practice for maintaining physical strength, flexibility, mental clarity, and emotional balance. The focus on healthy ageing comes at a time when countries worldwide are addressing challenges associated with ageing populations, lifestyle diseases, and mental health concerns.

Modi Leads Celebrations in Kolkata

Prime Minister Narendra Modi led the national observance of the 12th International Day of Yoga at Red Road in Kolkata. Modi performed yoga asanas alongside thousands of people, asserting that yoga has the power to unite the entire world.

Speaking during the nationwide celebrations, Modi noted that June 21 holds special significance because it is the longest day of the year for many parts of the world. “June 21, which marks the longest day on Earth, has now become the largest community celebration day because of yoga. Yoga brings people together. I congratulate the people of the world on this occasion,” Modi said.

Modi also emphasized that yoga should not be confined to a single annual occasion. The prime minister said people should not restrict yoga to only particular occasions, and it must be made part of people’s lives. Emphasizing the importance of healthy ageing, Modi said efforts must be made to ensure that advancing age does not reduce human potential.

The Astronomical and Spiritual Significance of the Date

The timing of International Yoga Day carries both scientific and traditional significance, tied directly to the Earth’s position relative to the sun. The summer solstice, which happens around June 21 each year, is an astronomical event that marks the longest day and shortest night of the year in the Northern Hemisphere. It happens when the Earth’s North Pole is tilted closest to the Sun, resulting in the maximum amount of daylight.

The summer solstice occurs when the Earth’s axial tilt is most inclined toward the Sun, positioning the Sun directly over the Tropic of Cancer. This results in the longest period of daylight in the Northern Hemisphere. In 2026, the summer solstice falls on June 21, with countries including India, the United States, and much of Europe experiencing the highest number of sunlight hours of the year.

Beyond the astronomical timing, the date also carries deep roots within yogic tradition itself. According to tradition, it was after the summer solstice that Adiyogi, regarded as the first yogi, began imparting yogic knowledge to his disciples, known as the Saptarishis. Because of both the symbolic and the spiritual importance of June 21, it is celebrated as International Yoga Day, standing for the harmony between humanity and all of nature, as well as representing yoga’s contribution to the improvement of physical, mental, and spiritual health.

The Origins of the Global Observance

International Yoga Day was first observed in 2015 after the United Nations adopted India’s proposal to dedicate June 21 to yoga. Prime Minister Narendra Modi proposed International Yoga Day during his address to the UN General Assembly in 2014. The resolution received support from 177 countries, making it one of the most widely supported resolutions in UN history.

A Movement That Has Grown Dramatically

Since its first observance, participation has expanded dramatically, with mass yoga sessions being organized in cities, towns, schools, community centres, and public spaces around the world. What began as a single coordinated day of practice has since evolved into one of the most widely observed annual wellness events globally, drawing participants across vastly different cultures, age groups, and levels of yoga experience.

Celebrity and Athletic Voices Join the Movement

Beyond the political and institutional observances, the day also drew participation from prominent figures in entertainment and sport. Notable personalities, including actress Shilpa Shetty and Olympic javelin medalist Neeraj Chopra, joined celebrations promoting yoga and fitness awareness, helping extend the day’s visibility beyond traditional wellness and political circles.

A Day That Continues to Resonate

International Yoga Day 2026 reaffirmed yoga’s position as a global movement for health, harmony, and well-being. With the theme “Yoga for Healthy Ageing,” this year’s celebrations highlighted yoga’s role in improving quality of life across generations. As millions participated worldwide, yoga continued to serve as a bridge connecting people, cultures, and nations while showcasing India’s rich civilizational heritage to the world.

With this year’s observance once again drawing record levels of participation across continents, the annual celebration appears poised to continue its trajectory as one of the most widely embraced global wellness initiatives tied to a single calendar date. Given the United Nations’ continued institutional backing and the consistent involvement of national leaders, celebrities, and athletes each year, International Yoga Day’s twin observance alongside the summer solstice is likely to remain a fixture of the global calendar, with organizers and participants alike continuing to draw on both the astronomical and spiritual significance of June 21 as the foundation for the day’s worldwide celebrations.

Shares of Cochin Shipyard dropped around 3% on Monday after a report said that the government is likely to launch an offer for sale (OFS) in the PSU company at a discount of 6-8% to the current market price.

The company’s shares plunged to Rs 1,418 apiece on NSE in the afternoon trading hours of Monday as buzz around stake sale by the company’s largest promoter may have dampened investor sentiment.

The government is likely to launch the OFS soon as part of its move to mop up resources through such offers in PSU companies, CNBC-TV18 reported citing people familiar with the matter. The report added that the government has so far raised more than Rs 16,000 crore via OFS in PSU companies this year.

The Economic Times could not independently verify the report.

This comes as the government recently ramped up its disinvestment efforts. Recently, the government offloaded some of its stake in Coal India, NHPC, NLC India, General Insurance Corporation of India (GIC) and other PSU companies.

Cochin Shipyard shareholding pattern

The central government owned nearly 68% stake in Cochin Shipyard as on March 31, 2026, according to data on NSE on the company’s shareholding pattern. Around 24 mutual funds owned a little over 2% stake, while Life Insurance Corporation of India (LIC) held over 3% stake.

Nearly 9.62 lakh shareholders meanwhile collectively held around 20% stake in Cochin Shipyard, data showed.

Cochin Shipyard share price

Cochin Shipyard shares have gained nearly 2% in one week, but fell over 6% in one month and 12% in 2026 so far. The stock has tumbled 34% in one year.
In the longer term, the shares of the company have delivered 391% returns over three years and 601% over five years. The company has a market capitalisation of Rs 37,699 crore.Also Read | NHPC OFS fully subscribed; govt garners about ₹4,300 crore

Cochin Shipyard earnings snapshot

Cochin Shipyard in May reported a net profit of Rs 276.50 crore for Q4 FY26, marking 3.7% decline from Rs 287 crore reported in the same quarter last year. Revenue from operations fell 15.6% year-on-year to Rs 1,484.3 crore from Rs 1,757.7 crore in the corresponding period a year ago.

Despite weaker revenue, the company delivered a strong operating performance during the quarter. EBITDA rose 16.5% to Rs 310 crore from Rs 266 crore in Q4FY25, while EBITDA margin expanded significantly to 20.9% from 15.1% a year earlier. The improvement in margins reflected tighter cost controls and improved operational efficiency, which helped support overall profitability despite the decline in topline growth.

Also Read | Cochin Shipyard Q4 net profit, revenue decline YoY

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)