business
Nigerian government seeks new Eurobond
The federal government yesterday disclosed that it would approach the Eurobond market next year in its effort to shore up the economy, amidst cocktails of measures being put in place to douse the effects of the Covid-19 pandemic on the economy. On the same day, Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, while speaking at the 55th Annual Bankers Dinner organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, predicted a two per cent growth in the country’s Gross Domestic Product (GDP) in 2021. Finance Minister, Zainab Ahmed, who disclosed the Eurobond plan while speaking on Bloomberg TV, explained that the decision would depend on the prevailing interest rates. She, however, did not specify the amount to be accessed from the Eurobond. The Eurobond option is ...
The 13 Best Things That Happened in Music This Week (November 27)
Take a look at all of the week’s can’t-miss music moments below. AC/DC’s new album charged in at No. 1 on the Billboard 200 AC/DC’s Power Up debuted at No. 1 on the Billboard 200 albums chart this week, giving the legendary rockers their third chart-topping set. The new LP started with 117,000 equivalent album units earned in the U.S. in the week ending Nov. 28, according to Nielsen Music/MRC Data. See the full Billboard 200 rundown for the week ending Nov. 28 here. The 2020 American Music Awards were a night to remember Billie Eilish, The Weeknd, BTS, Justin Bieber and Shawn Mendes, Dua Lipa, and Doja Cat and Bebe Rexha all performed during the AMAs on Sunday (Nov. 22), making for a star-studded evening. Of course, some awards were handed out, too! Check out the full winners’ list here to...
#EndSARS: Our losses can’t be quantified – LCC
As the probe into the shooting at the Lekki Toll Gate continues, the panel set up by the state government to look into the incident has been told by Mr Abayomi Omomuwa, managing director, Lekki Concession Company, operator of the tollgate, that he could not quantify the losses when the toll gate was occupied by #EndSARS protesters in October. Omomuwa also told the panel that contrary to insinuations, the toll gate was owned by private investors until 2014 when the Lagos State Government acquired it 100 per cent. Omomuwa who disclosed this while under cross-examination by a counsel for some #EndSARS protesters, Mr Adesina Ogunlana, said, “I believe that is the business of the company, not something to discuss in public.” When pressed further by Ogunlana, the LCC MD said, “It is obvious, whe...
BMG Acquires Catalog of Cheyenne Records, Including Songs by Germany’s No Angels
“The catalogue of Cheyenne Records is among the crown jewels of German pop music of the 2000s, and we are delighted to bring them back to the public,” Maximilian Kolb, BMG managing director GSA, said in a statement. “The acquisition shows BMG’s commitment to delivering the best service to artists and songwriters in the digital world.” BMG says the deal will bring back streaming availability to No Angels, which has been absent from digital streaming platforms for five years. The company notes the group had sales of more than five million, making it the biggest-selling German girl band of all time. No Angels’ 2002 debut single, “Daylight In Your Eyes,” sold more than 500,000 copies within a week after its release, according to BMG. Other hits that will now be available on digital platf...
Tame Impala, Sampa The Great Dominate 2020 ARIA Awards
Sampa The Great made history in 2019 when she became the first woman of color to win the ARIA for best hip-hop release. The Melbourne-based artist made history again by snagging the award for a second time, one of a hattrick of ARIA wins on the night. The Zambian-born, Botswana-raised singer and rapper also took out best female artist and best independent release for her debut full-length album The Return, winner of the 2019 Australian Music Prize. Sampa also delivered one of the ARIA Awards’ highlights, a performance of “Final Form” shot in Africa. On receiving the hip-hop honor, she noted: “This award means a lot to me because hip-hop has been redefined in the past five, 10 years in Australia. Young black artists, colored people, keep doing what you’re doing. Keep bring...
Holiday shopping moves online amid surging coronavirus, retailers face shaky prospects
File Photo Long lines and crowds at shopping centers have been as much a Thanksgiving tradition as the turkey dinner, but this year, things could look different. As COVID-19 numbers continue to surge, rushing to brick-and-mortar retail stores might seem not so appealing to many, and the holiday shopping season is moving online. “More and more shopping was already moving online, but COVID-19 concerns are definitely accelerating the shift to online buying,” David Reibstein, a marketing professor from Wharton School at the University of Pennsylvania, told Xinhua. The trend is evident as shown by recent data. Walmart, the nation’s largest retailer, reported that its third-quarter e-commerce sales surged 79 percent from a year ago. Amazon, the largest e-commerce retailer, reported a 37 percent ...
Radiohead, Elbow Members Call for Better Streaming Royalties at Opening of UK Parliament Probe
Garvey and Radiohead guitarist Ed O’Brien were among a group of four artists and two industry analysts that provided evidence on the first day of the inquiry, which is anticipated to stretch for several months and will call upon executives at major labels and streaming platforms to answer questions. The Parliament probe — which so far is being done with witnesses testifying virtually, as the U.K. is in lockdown — is also addressing a lack of transparency in record contracts and opaque accounting practices, safe harbor provisions and the European Copyright Directive, which will hold online user-generated services like YouTube liable for unlicensed content. The inquiry comes at a time when the coronavirus pandemic has decimated income from touring, focusing artists’ attenti...
Rollercoaster: Bitcoiners who missed rally feel relief and regret
Arianna O’Dell, a 30-year-old entrepreneur and songwriter based in New York City, had a tumultuous four-year journey in cryptocurrency before selling her investments in February. During her rollercoaster ride, bitcoin prices swung from less than $1,000 to nearly $20,000. O’Dell may not have made optimal decisions about when to buy or sell, and missed out on the recent rally – but said she does not regret that. Investing $2,705 worth of proceeds into her business was better than enduring the stress of daily fluctuations, even though the price has since doubled, she said. “Honestly, I’ve had more luck in Vegas than I’ve had with cryptocurrencies,” O’Dell said in an interview. She is part of a relatively new class of retail investors who joined the cryptocurrency market years ago, helping pro...
Recording Academy Chief Harvey Mason Jr. Responds to The Weeknd’s ‘The Grammys Remain Corrupt’ Tweet
That’s pretty blunt, but it’s nothing compared to a tweet from The Weeknd himself: “The Grammys remain corrupt. You owe me, my fans and the industry transparency.” Asked for a response, Harvey Mason Jr., the Recording Academy’s chair and interim president/CEO, supplied a statement to Billboard that read in part, “We understand that The Weeknd is disappointed at not being nominated. I was surprised and can empathize with what he’s feeling. His music this year was excellent…We were thrilled when we found out he would be performing at the upcoming Super Bowl and we would have loved to have him also perform on the Grammy stage the weekend before …To be clear, voting in all categories ended well before The Weeknd’s performance at the Super Bowl was announced, so in no way could it have aff...
Seismic Talent Agency Launches In Australia With Alison Wonderland, The Presets & More: Exclusive
Seismic’s philosophy? To work with ambitious, unique and groundbreaking domestic talent, Siviour explains, and to develop “bespoke touring strategies that prioritize each artist within their individual space” across the APAC region. What sets the company apart from others is its diverse roster. More specifically, it’s one of the first agencies to boast gender parity, Siviour notes. “It’s definitely something I’ve been making conscious progress towards over the last few years,” he tells Billboard. “Diverse representation is both important to me as an individual and as a cornerstone to the company-culture at Seismic Talent; it was certainly purposeful but far from a tokenistic approach.” The launch comes on the eve of the 2020 ARIA Awards, and amid mo...
Guitar Center Files for Chapter 11 Bankruptcy In Wake of Debt Restructure
Guitar Center, the nation’s largest retailer of musical instruments, has filed for Chapter 11 bankruptcy protection, the company announced Saturday. The bankruptcy filing came just one week after the Guitar Center, which had been struggling to compete with online retailers even before the pandemic, announced it had reached a debt-reduction deal with its key stakeholders. The approved restructuring support agreement (RSA) intends to reduce Guitar Center’s reported $1.3 billion debt by nearly $800 million, including $375 million in Debtor-In-Possession financing from some existing note holders and lenders. It also intends to raise $335 million in new senior secured notes. {“nid”:”9485240″,”type”:”post”,”title”:”Guitar Center R...
BTS Challenging For U.K. No. 1 Album With ‘BE’
BTS have a mountain to climb if they’re to snag a third U.K. No. 1 album. Consider it a challenge for the K-pop group and their loyal ARMY. On the midweek chart, BTS come in at No. 2 with their fifth Korean-language studio album BE (BigHit Entertainment). It’s the most downloaded and streamed album of the week so far, the Official Charts Company reports, though its well adrift of the pace-setter, Michael Ball and Alfie Boe’s Together at Christmas (Decca). Ball and Boe’s holiday set is the best-selling CD in the first half of the week, and races to No. 1 on the Official Chart Update with a lead of 7,000 combined sales. If it holds its ground, Together at Christmas will be the pair’s third U.K. No. 1 album. {“nid”:”9487403″,”type”:”post”,...
