Sony Music and Spotify have finally reached a licensing agreement. As first reported by Billboard and confirmed to The Verge by a source close to the situation, the deal will go into effect immediately. Sony Music, one of the biggest record companies in the world, owns RCA and Columbia and represents artists from Journey to […]
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Amazon stock was lower on Prime Day and some of the retailers it has been crushing were moving higher Tuesday, but the longer term trend shows its competitors hitting rock bottom. Amazon’s own stock was down about 0.7 percent Tuesday, as the company offered shoppers hundreds of deals on the shopping holiday it concocted to […]
Read moreLater today, Allen & Company’s famous tech and media conclave will begin in Sun Valley, Idaho. It is perennially the spot to see the biggest tech and media moguls congregate to socialize and spark endless rumors about future possible M&A deals. Three years ago, Yahoo’s Marissa Mayer and AOL’s Tim Armstrong were spotted having late-night […]
Read moreUnless you’ve been under a rock, you’ve likely read a lot about ICOs (initial coin offerings) in the last few weeks. These are offerings by companies starting their own variant of blockchain-based digital currencies. This year has not only seen the explosion in the price of bitcoin itself but also the second and third most […]
Read moreCurrency, United States Finance
Trump's planned state visit to UK delayed until next year: US official
President DonaldTrump‘s state visit to the United Kingdom, initially planned for this year, will be delayed until next year, a senior U.S. administration official said on Tuesday. Britisn Prime Minister Theresa May had invited Trump to London when she visited the White House soon after Trump took office on Jan. 20. But the two sides […]
Read moreThe Trump administration took its first step Monday toward potentially unraveling a government program that would have paved the way for more foreign startup founders to come to the United States. Its target is the International Entrepreneur Rule, an effort implemented by former President Barack Obama to allow foreigners who seek to build new companies […]
Read moreWith consumers feeling better about the economy, the amount of money borrowed has reached its highest level since the Great Recession. Total consumer borrowing rose by $18.4 billion in May, the strongest gain since November’s $25.1 billion increase, according to a recent report by the U.S. Federal Reserve. While household income has grown over the […]
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Active managers, rejoice. Analysts at Citi put together a chart that illustrates how the correlation among stock returns in markets like the United States is at its lowest level since 2000. Here’s the chart: “This should bode well for active management performance and indeed year-to-date, global active management performance for the median manager is positive,” […]
Read moreElon Musk was a successful internet entrepreneur long before the first Tesla Model X rolled off the assembly line and SpaceX fired its first rocket into orbit. Now, Musk has reclaimed a bit of that internet history for himself by purchasing the defunct domain name X.com from his former employer PayPal, which confirmed the purchase […]
Read moreCurrency, United States Finance
EU project 'alive and kicking'; Brexit has inspired non-members to join, says IMF's Lagarde
Britain’s exit from the European Union has not only revitalized current members but it has also inspired countries outside of the bloc to apply for membership, the International Monetary Fund’s managing director, Christine Lagarde told CNBC Tuesday. “It’s quite fascinating to see this sort of parallel track of those existing members of the EU suddenly […]
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