Australians will no longer be able to order from Amazon’s American site
Steel industry braces for USA tariffs on European exports
Service dog delivers puppies inside Tampa Airport (Cute photos!)
US, China Putting Trade War on Hold
Lyft joins Uber to end forced arbitration for sexual assault victims
Spotify Goes Public With An Estimated $30 Billion Market Value
05 April 2018, 12:43 | Maryann Sutton
Spotify Share Price Makes History with Stock Market Debut
Spotify is pursuing an unusual direct listing to reach the public markets in place of an initial public offering, and shares are expected to start trading on Tuesday.
Spotify shares opened at $165.90, giving the Stockholm-based company a market value of nearly $30 billion. Switzerland's flag is red and features a white cross in its center.
Spotify'sstock market listing was unusually low key for a 10-year-old company that has 157 million active users including 71 million subscribers, but is still loss-making due to the huge royalties it pays music companies.
Mediavision research finds that over 60 per cent of Swedish households subscribe to at least one service for music or TV streaming.
Mueller Releases Secret Memo Underpinning Manafort Probe
He argued that his guilty plea has been punishment enough because it will prohibit him from practicing law in the U.K. The Department of Justice is now working with the Russian government to extradite the 13 Russian nationals.
After several hours of anticipation Tuesday morning, Spotify's shares traded as high as $169 in their stock market debut before falling back slightly. Spotify's stock opened at $165.90 per share at 12:43 p.m. ET before closing at $149.01. Trading under the symbol SPOT, the Swedish company's losses grew to 1.235 billion euros ($1.507 billion) past year, its largest ever.
It's especially hard to tell, though, how much money some investors made as Spotify rose, because Spotify has had such an extensive history of private stock sales between shareholders. Before you invest, you should read the prospectus in that registration statement and other documents Spotify has filed with the SEC for more complete information about Spotify and its ordinary shares.
Spotify, on the other hand, has faced a heavy backlash from the music industry for revenue practices and is increasingly looking for alternatives to move its bottom line out of the red. Analysts are anxious that will be more hard for Spotify to do because it is primarily negotiating for the same music streaming rights as Apple, Google and Amazon - companies that can afford to pay even more, if they want.
With its heavy investment in building the platform, Spotify has yet to turn a profit. Previous year they posted an operating loss of $461 million, as reported by Recode. "The constant is that we believe we are still early in our journey and we have room to learn and grow", commented Daniel Ek, CEO of Spotify.
Severe weather moves in by evening commute
The Storm Prediction Center has put southeastern MI under a "marginal risk" area for severe storms Tuesday evening . The greater threat for severe weather will stay to the south, but tonight's storms will feature gusty winds.
Russian Federation test-fires 'invincible' ICBM 'Satan 2'
Putin has made much of developing such "invincible" systems as a counter to costly United States missile defense programs. "The test was carried out at the Plesetsk Cosmodrome, [a] spaceport in the west of Russian Federation ".
Strong debut for Chinese oil futures
At 9:24 a.m. (0224 GMT) prices were up 3.29 per cent at 430 yuan, with 19,122 lots, equal to 19.1 million barrels of oil, traded. Brent for May settlement rose to $70.97 a barrel on the London-based ICE Futures Europe exchange.
Sinclair's 'hostage videos' a reminder of need for a free press
The message calls out supposed bias and false messages in news stories spread on social media and in various unnamed news outlets. Deadspin received a hat tip from HBO's John Oliver , whose " Last Week Tonight " did a lengthy story on Sinclair last season.
Van Dijk relishing City test
Klopp said: "There will be fire and if I had the choice to watch a Champions League game, it would be this one". Benteke has now missed a league-high 20 big chances in this season, reported the BBC.
Former Catalan Leader Will Stay in German Jail
Protesters wave Spanish and Catalan Senyera flags during a pro-unity demonstration in Barcelona on October 29, 2017. About 90 people were slightly injured during the protests, including 22 police officers, emergency services said.