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Federal deficit triples to $3.1T, Treasury data shows
Those same experts argue that more fiscal stimulus is desperately needed, but the prospects of passing another aid package before Election Day are bleak. Congressional leaders and the White House have been at total loggerheads for months, with little progress made on some of the most contentious issues, like funding for state and local governments. House Democrats are pushing for at least another $2.2 trillion in the next stimulus package, while the White House is standing firm at $1.8 trillion. Senate Republicans plan to vote next week on a narrow $500 billion bill, with almost zero appetite for a higher price tag in the weeks before the election. The measure is unlikely to garner Democratic support. Meanwhile, several jobless aid programs are set to expire on Dec. 31, severing a critical...
How Camilo Became TikTok’s Most-Followed Latin Artist
“Whenever he has an idea or before he posts something, he asks for my opinion,” she says. “Everything posted on TikTok is a team effort.” She says that they usually plan a dance challenge long before a single release, dedicating a day to think of the choreography with help from their friend Paula Macher, who has over 1 million TikTok followers herself. “[She] knows all the latest trends and popular dance moves,” says Evaluna. “In the end, it helps push the song we’re promoting.” Noel Nuez, TikTok’s director of operations for Spanish South America, believes that kind of collaboration has helped Camilo rake in new followers so quickly: “He’s surrounded by family and colleagues who are also well-integrated on TikTok themselves, which enables him to viralize across other top profiles and ...
Fannie, Freddie take a close look at mortgage risks as climate events multiply
“In general there has been increasing concern on increasing flood and storm risk on mortgage markets,” said Carolyn Kousky, executive director of the University of Pennsylvania’s Wharton Risk Management and Decision Processes Center. She co-wrote the Fannie Mae working paper on post-Harvey mortgage defaults and presented the findings to the two government-sponsored entities and its regulator, the Federal Housing Finance Agency, at a virtual conference last month. Kousky and other experts said interest has been growing among federal housing officials over what rising flood risks mean for their portfolio. Those threats were the focus on the Sept. 29 virtual summit, which took place amid a backdrop of record western wildfires and Atlantic storms. The summit, which was closed to me...
Meet the Voices of Latin Protest Music
One of Brazil’s best-known singers and political activists, Veloso purposely wrote this upbeat tune about freedom in a rock’n’roll style, hoping to provoke Brazilian youth as a military dictatorship engulfed the country. Though Veloso’s use of electric guitars drew boos from a festival crowd, the song still became one of the most revered of the tropicália movement, and Veloso’s most popular in his five-decade career, with its urgent refrain about wanting “to keep living”: “Why not? Why not?” Víctor Jara, “Manifiesto” (1974) The Chilean singer-songwriter and Communist activist wrote this hauntingly wistful folk song — a testament to his reason for becoming a revolutionary artist — just weeks before he was tortured and shot to death by soldiers of Augusto Pinochet in the dictator’s September...
BTS Label Big Hit Entertainment Doubles Shares in Smash Stock Market Debut
A strong debut was expected by industry analysts given BTS’ enormous fanbase, officially termed the BTS ARMY, who are quick to pounce on virtual and physical concert tickets, album collectibles and other extensive merchandise lines. BTS accounted for more than 80% of the company’s revenue during the first half of 2020, according to a report by investment management company Samsung Securities. The group — consisting of members J-Hope, RM, Suga, Jungkook, V, Jin and Jiminwhich — launched in 2013 and has since performed sold-out shows across the world, breaking numerous Billboard chart records in the process. BTS became the first K-pop act to top the Billboard Hot 100 last month with “Dynamite,” their first all-English song, and this week occupies the top two slo...
COVID-19, Bushfires Impact APRA AMCOS’ Financial Year
With restrictions in place on live music and events across the country, royalties are “expected to take a more substantial hit in 2020-21,” APRA AMCOS warns. In a painful sign of the times, royalties payable to songwriters, publishers, affiliated societies and rights holders during the year-long period were down 0.9%, to A$407.3 million ($289 million). Predictably, the hardest hit revenue category was public performance income, which generated A$73 million ($51 million) of income, almost A$20 million ($14 million) less than the corresponding figure from last year. The results are published in the APRA AMCOS’s Year In Review. “Individual and collective resilience has been tested and we’ve had to adapt quickly,” comments APRA AMCOS CEO Dean Ormston, on publication of the annual report....
Hipgnosis Buys L.A. Reid’s Music Catalog
“It’s a great pleasure to welcome L.A. Reid and his incredible set of songs to the Hipgnosis family.” Financial terms of the deal were not disclosed. “I can’t imagine a better home for my lifetime of music and songs than Hipgnosis,” notes Reid. “Merck and his dream team truly value artists and their creative vision, and I couldn’t be more thrilled to partner with them for this exciting new chapter.” A giant of the U.S. record industry, Reid’s songwriting and production successes include Boyz II Men’s two-time Grammy winning smash “End of the Road,” plus hits with Whitney Houston, Bobby Brown and many more. Reid’s songwriting and producing credits include The Whispers’ “Rock Steady,” Sheena Easton’s “The Lover In Me,” Karyn W...
BTS Faces Uproar In China Over Korean War Comments
“After 70 years, the world we are living in is much closer than before. Boundaries in many aspects are getting more blurred,” RM said. “As members of the global community, we should build a deeper understanding and solidarity to be happier together.” Chinese internet users and state media took RM’s comments as a slap at China, whose soldiers fought alongside North Korean forces during their failed attempt to annex South Korea in the 1950-53 war. They accused RM of ignoring the role played by China in the war, which Chinese Communist Party propaganda blames on the United States, instead of North Korean leader Kim Il Sung’s attack on South Korea. “Before, I thought some BTS songs were pretty good. Now, they seem to be covered in excrement,” said a commenter on the microblog service Sina Weib...
BTS Co-Writer Ryan Lawrie Signs Publishing Deal With Peermusic UK
As BTS make history by notching the top two slots on the Billboard Hot 100 this week, indie publishing company peermusic UK has signed one of the K-pop group’s collaborators — singer, songwriter and producer Ryan Lawrie — to an exclusive global music publishing deal. The Glasgow, UK, native has co-written several songs for BTS, including Map of the Soul: 7‘s “Inner Child” (which has 52 million Spotify streams) and Map of the Soul: Persona‘s “Mikrokosmos” (125 million Spotify streams). Lawrie is now working with BTS’ label Big Hit Entertainment on the K-pop band ENHYPEN, the winners of Big Hit’s reality television competition I-LAND. Lawrie will also release his own debut album under the moniker KOOLKID later th...
John Lennon’s ‘Gimme Some Truth’ Challenging for U.K. Chart Title
Lennon has three No. 1s as a solo artist, and a whopping 16 with the Beatles, more than any act in Official Chart history. If Travis hold on, it’ll give the four-piece their first No. 1 in almost two decades. All but one of the band’s eight previous albums have cracked the Top 5 on the Official U.K. Albums Chart. At the midweek stage, North London rapper Headie One holds the No. 2 position with his debut studio album Edna (Relentless), the market leader on streams. Further down the list, Queen + Adam Lambert’s Live Around The World (EMI) slips 1-4, and Brit Award-nominees D-Block Europe are at No. 5 with their debut The Blue Print – Us vs Them (D-Block Europe), while new releases from classic British bands Tears For Fears, Dire Straits, Iron Maiden and Suede are set for Top 10 entries. Sev...
Lime Cordiale, Tame Impala Lead 2020 ARIA Awards Nominations
Kevin Parker’s Tame Impala also snagged top spot on the national chart this year with The Slow Rush (Modular Recordings / Island Records Australia/Universal Music Australia), his psychedelic-pop outfit’s fourth LP. It’s the highest-selling homegrown album in 2020 so far, and its up seven ARIAs, including album of the year. Zambian-born, Botswana-raised, Melbourne-based hip-hop artist Sampa The Great is in the running for six ARIAs for her debut album, The Return (Ninja Tune / Inertia Music). Sampa is already a multiple award winner in her adopted homeland. She’s the only two-time winner of the Australian Music Prize (including victory for The Return), and last year she became the first woman of color to win an ARIA Award in the best hip-hop release category, for “Final Form.” Win...
Strictly Discs in Wisconsin, in a Pandemic: ‘Everybody’s on the Extreme End of Being Tired’
How did Record Store Day go on Saturday? It went really well. The same sort of pattern that we had with the first date worked well and seamlessly, and people were happy. And we did a give away five cases of New Belgium beer, [which] made people happy as well. What were some of your big sellers? Brandi Carlile is this year’s Record Store Day ambassador, and she had a 12-inch that had two covers of Soundgarden songs. That was a really big seller for us. The Bill Evans was a big seller. There was the release by the Yardbirds that did really well. One of the last times we spoke, we talked about how we couldn’t see businesses including retail getting shut down again given that people are so used to having more freedom now. But Wisconsin is becoming a really big hotspot for the ...
