Finance Notes: Rangers Announce Operating Loss, Seek $12.5M Investment

Scottish Championship side Rangers will seek a "fresh share issue after announcing an operating loss" of £8.3M for the 12-month period to June 30, with "fresh funding needed" as soon as January. The club recently secured a £3M ($4.7M) loan from shareholder Mike Ashley. However, the "preliminary results report warned they would need" an extra £8M ($12.5M) investment in the next 12 months. Club directors said that they have been "approached by several parties offering funds on a secured basis" (BBC, 11/27). ... Swiss voters on Sunday rejected an initiative that would have "ended tax breaks for wealthy foreigners and drained revenue from many small towns that cater to them." Roughly 60% of voters opposed the initiative, known as "Stop Tax Privileges for Multi-Millionaires." Another 40% supported the measure (WALL STREET JOURNAL, 11/30).