business
Banks’ Sh224bn record profits signal bonus, dividends boom
Banks’ pre-tax profits for 11 months to November last year hit a record Sh223.7 billion.
Relief for teachers as Equity’s Spire bank buyout deal gets Treasury nod
National Treasury and shareholders of both banks have given the nod to the deal, much to the...
Voting open for best shows, actors till February 13
As the theatre-loving public is now free to cast their votes for their favourite play...
Divorcing couples must prove contribution for equal property share
The court also said the test to determine the extent of contribution is one on a case-to-case...
High Court stops Sh350m Mandera County bursary plan
The High Court has blocked the disbursement of Sh350 million allegedly meant for payment of...
Lexus boss to head Toyota as founder’s grandson steps down
The 53-year-old chief branding officer and president of Toyota Motor Corp's Lexus brand, Koji...
The Legal Beat: Megan Thee Stallion’s Deposition Dispute – Plus Journey, Flo Rida & More
This is The Legal Beat, a weekly newsletter about music law from Billboard Pro, offering you a one-stop cheat sheet of big new cases, important rulings, and all the fun stuff in between. This week: A judge says Roc Nation CEO Desiree Perez must sit for a deposition in Megan Thee Stallion’s war with her record company, a member of Journey sues his longtime bandmate over allegations of lavish spending, Flo Rida wins an $82 million verdict against a beverage company, and much more. THE BIG STORY: To Depose Or Not To Depose When should a top executive be hauled into a deposition to answer questions in a lawsuit? It’s a difficult question. Make it too hard and you could insulate powerful people from the legal process; make it too easy and attorneys could use it as a form of gamesmanship in case...
Ticketmaster Plans to Blame Scalpers for Taylor Swift Debacle at Senate Hearing
Don’t expect Live Nation’s Joe Berchtold to be quoting Taylor Swift’s “Anti-Hero” during Tuesday’s Senate Judiciary Committee hearing on ticketing. Unlike the pop star’s “I’m the problem it’s me” chorus-turned-meme, the company’s president and CFO plans to take aim at who he says are the real culprits behind Swift’s disastrous Nov. 15 presale: scalpers. While the Live Nation-owned Ticketmaster was villainized for weeks following the presale for Swift’s upcoming The Eras Tour that both broke single-day sales records and threw fans into a fury over service issues, according to a prepared opening statement reviewed by Billboard, Berchtold plans to lay much of the blame on scalpers who used illegal bots to attack the online sale. The statement — to be delivered Tuesday (Jan. 24) in Washington,...
No Will, No Music: Nío García’s Career Restarts After Settlement With Flow La Movie’s Estate
It’s been a little over a year since the Dec. 15, 2021 plane crash that killed Puerto Rican producer Flow La Movie along with his partner Debbie Von Marie Jimenez García and their children, aged 21, 18 and four. Born José Angel Hernández, Flow La Movie was 38 at the time of the crash and is survived by a daughter, Keigelyan Hernandez. He also left behind a catalog of hit recordings released under his indie label, AH Entertainment, including the star-studded “Te Boté,” which topped Hot Latin Songs for 14 weeks, and the entire catalog of rapper Nio García, including “AM” and viral hit “La Jeepeta.” Those songs, along with García’s recording contract, have been ensnarled in a complex legal battle that has prevented García –at the cusp of his career– from releasing any further materi...
Author Ari Herstand on Success in Music in 2023: ‘It’s Not a Straight Line Anymore’
The music industry was radically reshaped in the three years since Ari Herstand last updated his how-to instruction manual for independent musicians, How to Make it in the New Music Business: Practical Tips on Building a Loyal Following and Making a Living as a Musician, first published in 2016. The pandemic changed how musicians monetize live music, social media apps re-wrote the rules about promoting music and blockchain-based products went mainstream. “A lot has changed,” says Herstand. “I would say more has changed in the last three years than probably the last 20 years.” Now in its third edition, How to Make it in the New Music Business has joined Don Passman’s All You Need to Know About the Music Business as a go-to source for navigating the industry’s dire straits. Herstand augments...
Dallas’ Legendary Longhorn Ballroom to Reopen
Texas promoter Edwin Cabaniss with Kessler Presents has announced plans to restore Dallas’ Longhorn Ballroom. The notorious nightclub was once owned by Chicago mob associate Jack Ruby, who famously shot and killed John F. Kennedy assassin Lee Harvey Oswald as he left Dallas Police headquarters on Nov. 23, 1963. The Longhorn opened in the 1950s as singer Bob Wills’ Ranch House. It was later operated by recording artist and record label boss Dewey Groom through the ’60s and ’70s, hosting concerts by Nat King Cole, Patsy Cline, T- Bone Walker and many more. Cabaniss plans to incorporate the venue’s long history when it reopens this spring, in part with the original museum-style display cases built into the walls. The venue has traded hands a number of times in recent years and close...
FTX CEO says he is exploring rebooting the exchange: Report
John Ray, who took over as CEO of cryptocurrency exchange FTX prior to bankruptcy proceedings, has reportedly set up a task force to consider restarting FTX.com. According to a Jan. 19 report from the Wall Street Journal, Ray said everything was “on the table” when it came to the future of FTX.com, including a potential path forward with rebooting the exchange. FTX Trading, doing business as FTX.com, was one of roughly 130 companies under FTX Group that filed for Chapter 11 bankruptcy in November 2022. Ray reportedly was considering reviving the crypto exchange as part of efforts to make users whole. FTX reported on Jan. 17 that it had identified roughly $5.5 billion of liquid assets in its investigations, with more than $3 billion owed to its top 50 creditors. According to the FTX CEO, he...
