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Wednesday, March 20, 2019
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Streaming accounts for more than half UK record label income 20 Mar 8:01pm Streaming accounts for more than half UK record label income
Revenue from Spotify, Amazon and Apple rises as CD sales continue to fall Music streaming services generated more than half of the income earned by record labels in the UK last year, as CD sales continue to plummet. Subscription streaming platforms operated by Spotify, Amazon Music and Apple Music, made revenues of £468m in the UK last year, 54% of the £865.5m total income for the recorded music industry. It is the first time that subscription streaming revenues, which grew at 35% year-on-year in 2018, have accounted for more than half of total recorded music revenues for labels.
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Gig economy: worker loses Pimlico Plumbers holiday pay claim 20 Mar 3:41pm Gig economy: worker loses Pimlico Plumbers holiday pay claim
Man who won earlier workers’ rights case against firm is not entitled to £74,000, court rules A heating engineer who won a
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Federal Reserve 20 Mar 3:18pm Updated Federal Reserve "kowtows to Trump" and predicts no rate hikes in 2019 - business live
US central bank leaves borrowing costs on hold, cuts growth forecasts, and says rates probably won’t rise this year
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Barclays deal shows women’s game now big-bucks business | Suzanne Wrack 20 Mar 3:14pm Barclays deal shows women’s game now big-bucks business | Suzanne Wrack
Contract shatters idea that sponsoring women’s sport is the cheap option that makes your brand look good Gamechanger can be a little overused, but in the case of Barclays’ eight-figure sponsorship deal over three years of the FA Women’s Super League that is literally what it is.
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The welcome sight of banks rowing back on executive pensions | Nils Pratley 20 Mar 3:04pm The welcome sight of banks rowing back on executive pensions | Nils Pratley
HSBC and Lloyds are showing the way, but it’s still one rule for bosses and another for staff At HSBC and Lloyds in the past week, we’ve been treated to a rare sight: boards deciding not to defend the indefensible on executive pay. The issue has been executive pensions, territory in which large companies have spouted more self-serving nonsense than in almost any other area of boardroom rewards. If the mini-capitulations by the two banks prompt a wider rethink, bring it on. Current pension practice, as it applies to executives, has become an exercise in pulling wool over eyes.
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Federal Reserve leaves rates on hold; Brexit worries hit pound - business live 20 Mar 2:14pm Federal Reserve leaves rates on hold; Brexit worries hit pound - business live
Rising food and alcohol prices have pushed the cost of living in Britain up, as the housing slowdown gathers pace
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Volvo to install cameras in new cars to reduce road deaths 20 Mar 1:38pm Volvo to install cameras in new cars to reduce road deaths
The Swedish carmaker says the cameras will detect early signs of intoxication Volvo will introduce cameras in its new cars to watch out for drink driving ina bid to cut down on deaths on the road. The cameras will be one of multiple sensors which will measure if a driver is showing signs of intoxication, Volvo said on Wednesday.
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Diamond tycoon Nirav Modi arrested in London over fraud claims 20 Mar 1:21pm Diamond tycoon Nirav Modi arrested in London over fraud claims
Indian authorities claim billionaire jeweller was involved in £1.3bn bank fraud The diamond tycoon Nirav Modi, whose jewels once adorned stars from Bollywood to Hollywood, has been remanded in custody in London, more than a year after Indian authorities alleged he was involved in a £1.3bn bank fraud. A judge ordered Modi to be held at the end of a hearing at Westminster magistrates court on Wednesday. District Justice Marie Mallon said there was a risk the billionaire merchant would fail to appear for future hearings because of his access to large sums of money that could help him evade the courts and his “keenness to do so”.
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HS2 gives the game away: the plan for northern towns is managed decline | Lynsey Hanley 20 Mar 10:24am HS2 gives the game away: the plan for northern towns is managed decline | Lynsey Hanley
The high-speed rail network may never be built any further north than Birmingham. It is utterly nonsensicalYesterday, on the day a
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Toyota teams up with Suzuki to build hybrid cars in UK 20 Mar 9:59am Toyota teams up with Suzuki to build hybrid cars in UK
The vehicles will be produced at the car manufacturer’s Burnaston plant in Derbyshire Toyota is to build a new hybrid electric vehicle in the UK for Suzuki,which is good news for an industry weighed down by Brexit fears. The new hybrid will be based on the Corolla model and made at Toyota’s Burnaston plant in Derbyshire, with engines supplied by the company’s Deeside factory in north Wales.
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House price growth at six-year low and inflation rises to 1.9% 20 Mar 8:48am House price growth at six-year low and inflation rises to 1.9%
UK could suffer first fall in prices since 2011 towards the end of this year House prices grew at the slowest rate since 2013 in January, according to official figures that signalled the UK was heading later this year for the first fall in property values since the financial crash. Average house prices in the UK increased by 1.7% in the year to January 2019, down
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Google fined €1.49bn by EU for advertising violations 20 Mar 8:44am Google fined €1.49bn by EU for advertising violations
Tech company has been fined total of €8.24bn by EU commission over past two years Google has been fined €1.49bn (£1.28bn) by the European commission for abusing its monopoly in online advertising. The latest fine takes the total the company has been fined by the EU competition commission to €8.24bn over the past two years, for abusing its power in markets, ranging from shopping search to mobile phone operating systems.
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Google Stadia: what developers think of the game-streaming service 20 Mar 8:22am Google Stadia: what developers think of the game-streaming service
Has Google got its head in the cloud, or can its sheer size help it succeed where many have failed in building a hardware-free future for gamers? Google’s
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UK environmentalists launch campaign against Barclays Bank 20 Mar 8:01am UK environmentalists launch campaign against Barclays Bank
Momentum and other groups will protest against bank’s role in fossil fuel industry A UK-wide campaign is being launched to persuade one of the country’s biggest high street banks to stop investing billions of pounds in the fossil fuel industry. Activists from the Labour-supporting Momentum group will team up with the environmental group
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UK inflation rises to 1.9%, as London house prices slide - business live 20 Mar 7:10am Updated UK inflation rises to 1.9%, as London house prices slide - business live
Rising food and alcohol prices have pushed the cost of living in Britain up, as the housing slowdown gathers pace
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UK inflation report due as trade war fears rise - business live 20 Mar 5:07am Updated UK inflation report due as trade war fears rise - business live
Rolling coverage of the latest economic and financial news, including a new report on the cost of living in Britain
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Véronique Laury to step down as CEO of struggling Kingfisher 20 Mar 4:18am Véronique Laury to step down as CEO of struggling Kingfisher
Decision comes as profits fall at the DIY retail group behind B&Q and Screwfix brands Kingfisher, the struggling DIY retail group, said its chief executive, Véronique Laury, is to leave the company after 16 years as it announced a fall in annual profits. The firm behind the B&Q and Screwfix brands in the UK said it would immediately launch a search for a replacement for Laury, whose leaving date has yet to be decided.
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Amyas Morse: ‘I’m angry when ministers waste taxpayers’ billions’ 20 Mar 3:00am Amyas Morse: ‘I’m angry when ministers waste taxpayers’ billions’
The outgoing National Audit Office chief says every wasted £1bn could pay for millions of visits to A&E and ambulance callouts I still get angry – and that is the word for it, angry – 10 years into the role, when I see badly-thought-through programmes and wasted public money,” says outgoing watchdog chief Sir Amyas Morse. “And the reason I’m angry is because the citizen ends up picking up the tab. They are the ones who end up suffering.” For almost a decade, as comptroller and auditor general – the head of the National Audit Office – it’s been Morse’s statutory duty to keep an eagle eye on the spending of central government departments, holding ministers and civil servants to account for cost overruns, project mismanagement and profligacy with taxpayers’ money.
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Why did P&O use a shuttle bus on our cruise to Amsterdam? 20 Mar 2:59am Why did P&O use a shuttle bus on our cruise to Amsterdam?
The company moved the berth of our cruise ship to a port 30km away from the city
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Disney seals $71bn deal for 21st Century Fox as it prepares to take on Netflix 20 Mar 2:32am Disney seals $71bn deal for 21st Century Fox as it prepares to take on Netflix
The acquisition of Rupert Murdoch’s film and TV studio business will boost Disney as it enters the TV streaming market Disney has closed its $71bn (£54bn)
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Chinese fishmeal plants leave fishermen in the Gambia all at sea | Hannah Summers 20 Mar 2:00am Chinese fishmeal plants leave fishermen in the Gambia all at sea | Hannah Summers
Scientists and campaigners warn that factories in coastal villages are wreaking environmental and economic havoc Before the arrival of fishmeal factories in the Gambia, Musa Duboe would catch red snapper and barracuda to be sold at the local market. But his income had begun to dwindle due to depleted stocks. Then in 2016 the Chinese-owned fishmeal plant Golden Lead began operating out of the coastal town of Gunjur, increasing demand for fish to export for overseas aquaculture.
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Online hate threatens us all. Platforms can and must do more to eradicate it | Dan Hett 20 Mar 2:00am Online hate threatens us all. Platforms can and must do more to eradicate it | Dan Hett
As a software engineer, I know extremist content can be curbed. After Christchurch, it’s more urgent than ever Like so many, I was shocked to the core by the recent
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