Spotify’s premium plans combining music and audiobooks will mean a lower mechanical royalty rate for songwriters on those plans, the company has confirmed, although it claims that earnings for creators will continue to rise.“Spotify is on track to pay publishers and societies more in 2024 than in 2023. As our industry partners are aware, changes in our product portfolio mean that we are paying out in different ways based on terms agreed to by both streaming services and publishers,” the statement reads. “Multiple DSPs have long paid a lower rate for bundles versus a stand-alone music subscription, and our approach is consistent.” The final sentence is in reference to plans offered by Amazon — which offers its music streaming as part of its Prime service — Apple and others.
Bank of England could wait longer to lower interest rates after UK wage boost, experts warn
01.04.2024 - 14:03 / manchestereveningnews.co.uk
Economists are warning that an increase to the UK's minimum wage could make it harder to keep inflation low, which could mean it takes longer for interest rates to come down.
The national living wage is going up by almost 10 per cent from today (April 1). The lowest paid workers in the UK will see their wage go up by 9.8 per cent to £11.44 an hour.
Some experts think this hike in wages could stop inflation from dropping as fast as expected. CPI inflation peaked at 11.1 per cent before a slump over the past year, with higher interest rates helping to bring it back down to 3.4 per cent.
Read more: Exact dates Universal Credit, PIP, Child Benefit and more will rise as DWP and HMRC to increase benefits this month
Ashley Webb, UK economist at consultancy Capital Economics said: "The fear is that the rise this year will contribute to stickier wage growth and inflation.”
However, some have downplayed the impact, with only around 4.9 per cent of the UK workforce due to impacted by the increase. Experts at Morgan Stanley said: "While there are some nuances around existing premiums to the currently mandated national living wage in low-paid sectors, and whether these compress in a looser labour market, last year’s pay beats in spring came on the back of IT, finance and professional services sector pay – not any outsized surprises on low-paid sectors.”
Nevertheless, the impending rise will raise questions for Bank of England’s Monetary Policy Committee (MPC) as it assesses the inflation outlook and considers reducing interest rates from 5.25 per cent, where it has stayed for several months. The group of rate-setters have indicated they want to see firm signs that wage growth is cooling before cutting rates.
EY Item Club chief
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stepped in to support their grandchildren during this uncertain time.And according to royal expert and former BBC royal correspondent Jennie Bond, the Princess’s cancer battle has taken a toll on her worried mother.“We should also spare a thought for another mother in this — Carole Middleton,” Bond told The Mirror.“Catherine may be 42, but she is still Carole’s little girl, and to watch her go through this and withstand the bullying pressure to explain must have been desperately upsetting.”“She has no doubt been a tower of strength and a comforting presence for the children, but she, too, will need reassurance,” Bond added.As Middleton undergoes treatment, her parents have reportedly been spending quality time with their grandkids Prince George, 10, Princess Charlotte, 8, and Prince Louis, 5.They are also grandparents to daughter Pippa Middleton’s children: Arthur, 5, Grace, 3, and Rose, 1.“They’ll have rallied around her, especially her young family,” royal commentator and biographer Duncan Larcombe told the Mirror last month. “Carole and Michael will have essentially thrown a safety blanket around the young children to help protect them.”“In times like this for Kate, it is hugely important.
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Elizabeth Banks & Matthew Macfadyen to Star in New Peacock Dramedy Series 'The Miniature Wife'
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