Universal music hits pause on TikTok and pulls hit tracks off the platform
Universal Music Group has decided to stop TikTok from using its massive library of songs, leaving creators, teens, and investors feeling a bit lost. The move comes after a year-long tussle over legal and financial terms, affecting a huge chunk of the platform's most popular music. While Universal is after a fair share of revenue, similar to the deal it has with YouTube, TikTok's counteroffers haven't cut it. This tiff could change how music rights and earnings are handled in the digital age, especially with AI making music production more accessible. Plus, TikTok's potential public offering might face delays as it navigates these costly music rights issues, impacting its revenue model heavily reliant on ads.
Tesla powers up China sales with sweet Deals amid EV market slowdown
Tesla is revving up its efforts in China by offering a range of attractive incentives to counter the rising competition from local electric vehicle (EV) makers like BYD Co. They're giving customers who order a Model 3 or Model Y by the end of March a hefty insurance subsidy and other perks, effectively lowering the cars' prices. This move follows a price reduction in January and comes as sales of new-energy vehicles in China have dipped. Despite the challenges, the market for EVs is still expected to grow, just at a slower pace than before. Tesla's latest strategy aims to keep its wheels spinning in the competitive Chinese market.
Stocks soar to new heights on positive US inflation news
Stock markets around the world leapt up after the latest US inflation data didn't bring any nasty surprises, calming worries about future interest rate hikes. The S&P 500 and Nasdaq hit new records, with tech shares leading the charge, while Japan's Nikkei 225 also reached a milestone. The Federal Reserve's main inflation gauge showed a rise, but it was all within expectations, bringing a sigh of relief to investors. Even as some US job data hinted at a slight cooling off, the overall mood is optimistic, with the Fed hinting at rate cuts if needed, though not rushing into them. Amidst this, Bitcoin remains strong, and oil prices are looking up, adding to the positive vibes in the markets.
Join the Investors' Club
Get access to professional investing tools for free and start building your wealth today!
Capital at risk
