Music to your ears | The Economist

Which is in good luck is Spotify Technology that beat Wall Street estimates of its second-quarter revenue, as it posted a 20% increase in paid subscribers for its premium service, driven by demand in Europe and North America.

Spotify, a streaming music company, expects revenues of between 2.310 million and 2.510 million euros and between 170 million and 174 million premium subscribers.

Covid-19 continued to weigh on its performance in various markets, but revenue from its advertising business, which was hit by the pandemic last year, grew 110% to € 275 million.

Spotify has been investing in its podcasting business to compete with Apple and in April launched a paid subscription platform for podcasters in the United States.

The company currently has about 2.9 million podcasts on its platform and participation in the service during general consumption hours reached an all-time high in the quarter.

It transpired that With the global semiconductor shortage that has paralyzed major automakers, tech giants will be more flexible in diverting existing supplies to their most profitable products, analysts and executives said.

Apple said the semiconductor shortage had only mainly affected its iPad and Mac products in the last quarter, but that it would begin to impact the iPhone business, its best-selling product and the main driver of earnings, in the current quarter.

Some analysts believe that Apple could prioritize supplying semiconductors for its new phones during the July-September quarter, which is typically the slowest period for iPhone sales, as buyers wait for the next models.

In the current context, in which criminals seek to detonate any vulnerability to carry out their misdeeds, it is important to have shields that allow detecting and reporting any trace of illicit financial flows.

That is why the Mexican Institute of Public Accountants, in the hands of the firm C&D Consultores, is about to start a money laundering prevention seminar for vulnerable activities, that is, those that by their nature are exposed to money laundering.

Let us remember that it is important that. Those professionals dedicated to the prevention of money laundering and terrorist financing, such as auditors or compliance officers, are updated on the subject, because it is a time of different changes and it is better to be prepared for any changes in the regulatory framework. The event will feature various experts who will give their views on this issue, which is a red flag in Mexico.

The application language-learning firm Duolingo earned a valuation of close to $ 6.5 billion on its NASDAQ debut in New York, after its stock opened nearly 39% above its offering price, underscoring a strong appetite for new ones. educational technology companies.

The company’s shares opened at $ 141.4 a share, beating the initial public offering price (IPO) of $ 102, which was above the upper limit of its target range.

Duolingo’s IPO comes against a backdrop of euphoria around e-learning companies that have benefited from restrictions imposed during the pandemic.

Online education platform Coursera, which went public in March, is up 15% from its initial public offering price as of Tuesday’s close.

Duolingo raised nearly $ 521 million by selling about 5.1 million shares. Almost 1.4 million of those securities were sold by shareholders and those proceeds would not go to the company.

In the framework of the CDMX economic reactivation plan, a primary factor will be the relationship between authorities and private initiative, and the level of communication reached by the representatives of both parties.

During the presentation of the economic reactivation plan, the Head of Government Claudia Sheinbaum stressed the importance of interacting with the private initiative to promote investment and development.

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