Spotify to Hire Hundreds to Boost Ad Sales in Europe, Australia & Canada
Music giant Spotify plans to hire hundreds of staff in efforts towards driving advertising sales in Europe, Australia and Canada, as it aims to pump up its revenue from customers not subscribed to its monthly service package, which make up the majority of its user base. The company witnessed a growth in its advertising business this year after being hit by the COVID-19 crisis, and such efforts are dedicated towards capitalizing and boosting this growth.
MACROECONOMIC DATA ANALYSIS
British Prime Minister Boris Johnson announces a nearly $14 billion private investment into green projects, in efforts to mobilize green projects and markets. These targets technologies focused on green hydrogen, long-term energy storage, sustainable aviation fuels among others.
The International Monetary Fund (IMF) cuts down the growth forecasts of 2021 for Asian countries, down to 6.5% from 7.6%, warning the continent and the rest of the world of a fresh wave of COVID-19 infections, supply chain issues and inflationary pressures.
The U.S. dollar drops down to three-week lows, battered by a proliferation in rate-hike bets, driven down even further with stronger gold futures alongside other commodities. The dollar index, compared to basket of major currencies such as the Japanese yen, declines 0.32% to 93.648.
Gold prices surge higher amid a weakening U.S. dollar greenback and increased caution from investors, conflicting forces and inflationary concerns amid expectations of tighter monetary policy. The safe haven jumped 0.86% higher to price at $1,779 an ounce.
Crude oil prices edge slightly lower amid a continuing supply crunch in electricity, coal and natural gas across the globe, driven by falling temperatures in China and its potential inability to meet domestic demand for heating. Brent oil futures declined 0.20% to $84.15 a barrel, and the WTI benchmark also dropped 0.20% to $81.53 per barrel.
USA: S&P500 +0.49%, Dow Jones Industrial Average +0.34%, Nasdaq Composite +0.39%
Europe: FTSE 100 -0.01%, DAX +0.22%, CAC 40 -0.18%
Asia: Nikkei 225 +0.65%, Hang Seng +1.49%, CSI 300 +0.98%, Nifty 50 -0.32%
A letter seen by Reuters unveiled that salesmen from India have threatened to disrupt & derange supplies to stores which are partnered with the renowned Reliance giant. As per the Reuters report, Indian salesmen from companies such as Reckitt Benckiser, Uniliever and Colgate-Palmolive stated that their sales declined 20-25% in the last year as small, family-owned and independent businesses were increasingly in partnership with Reliance to provide lower prices, dominating the market.
According to people familiar with the matter, Apple has informed to its suppliers that the demand for the iPhone 13 has slowed down. The company has already cut iPhone 13 production by 10 million units due to global semiconductor chip shortages, as well as coronavirus-related manufacturing issues in Asia. The news of weaker iPhone 13 demand has pushed the Apple stock downwards by 2.92% in early trading sessions.