From Breakingviews - Spotify hums along
And yet, Spotify is cheap by comparison. Even with Wednesday morning’s 12% jump in shares, with an enterprise value of $21 billion, Spotify is worth 1.
5 times next year’s revenue, according to Refinitiv estimates. Netflix meanwhile has a multiple twice as high, and Twitter more than triple. For investors, that seems off note.
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Breakingviews - Breakingviews: Credit Suisse revamp risks being bad copy of UBSCredit Suisse is finally facing up the full extent of its problems. The $14 billion Zurich-based bank replaced Chief Executive Thomas Gottstein and on Wednesday announced that new broom Ulrich Koerner will scale back trading to focus on wealth management. The final plan, due later this year, may look like UBS’s from 2012 - but much slower.
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Spotify's Car Thing player is no longer a thing | AutoblogSpotify ends its foray into automotive hardware.
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Age-old secrets revealed from the world's first metropolisesThe hidden wonders of long-vanished cities that once housed kings and hummed with everyday life are being rediscovered thanks to modern-day archaeology.
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Breakingviews - Rio’s dividend is not yet a cause for concernRio Tinto’s , downsized dividend is less alarming than it looks. The $95 billion miner said on Wednesday it would be handing investors $2.67 a share as a mid-year payout , compared to $5.61 a year ago. Yet last year the price of iron ore, which accounts for the bulk of Rio’s earnings, shot to a record $225 a tonne, as economies bounced back from Covid-19. That boom is well and truly over, but despite slowdown fears it doesn’t mean 2022 is a bust.
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Breakingviews - Aussie climate ambition pulls timidly aheadAustralia’s new Labor government on Wednesday unveiled a bill to enshrine in law its pledge to reduce the country’s greenhouse-gas emissions by 43% by 2030 from 2005 levels.
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