Stocks fall…Spotify offering…Atlanta airport Wi-Fi back up
BEIJING (AP) – Global stock markets fell for a second day Tuesday amid jitters about U.S.-Chinese trade tensions and mounting public scrutiny of technology companies. Market benchmarks in London, Frankfurt, Shanghai and Tokyo all declined. Futures point to opening gains on Wall Street. The dollar sank against the euro and yen but rebounded later against the Japanese currency. Benchmark U.S. crude oil rose to remain above $63 per barrel.
SAN FRANCISCO (AP) – Spotify is about to find out whether investors view its music streaming service as a budding superstar or a flash in the pan. The Swedish company will make its stock market debut Tuesday, casting a spotlight on its early lead in music streaming – a still-evolving field trying to hook people on the idea that it’s better to subscribe for online access to millions of tunes than to buy individual albums and singles. Spotify has struck a chord with 71 million worldwide subscribers so far and is aiming to increase that number to as many as 96 million subscribers by the end of the year.
ATLANTA (AP) – Travelers at the world’s busiest airport in Atlanta can once again use free Wi-Fi to go online after a cyberattack that hit the city last month. Hartsfield-Jackson Atlanta International Airport sent a tweet Monday saying that its free Wi-Fi is up and running. The message adds: “To all – thank you for your patience.” The system has been down since a ransomware cyberattack hit the city’s computer network on March 22.
TOKYO (AP) – An outsider tapped to lead scandal-tarnished Japanese electronics company Toshiba Corp. is promising a turnaround in five years by reshaping its operations. Nobuaki Kurumatani, the first outsider to be appointed chief executive at Toshiba in more than half a century, acknowledged corporate governance had been weak. Toshiba has been embroiled in an accounting scandal involving the massive doctoring of books. It also racked up heavy losses in its nuclear business and is selling its lucrative computer-chip business to avoid going belly-up.
LONDON (AP) – 21st Century Fox on Tuesday offered new proposals to insulate Sky’s news operations from Rupert Murdoch’s influence in its ongoing bid to take full control of the London-based pay TV company. Fox said it proposes to either sell Sky News to Walt Disney or comprehensively ringfence it. Disney is already trying to take over many parts of Fox. Fox says a proposed sale of Sky News to Disney would not be contingent on Disney acquiring key parts of Fox.