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Spotify Being Sued For 1.6 Billion Dollars

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Spotify is on the verge of becoming the biggest stream service to become a publicly traded company, but that is not without controversy. Spotify is the most successful in the music streaming business, with over 60m paying subscribers. It is reportedly valued at $19 billion dollars.

Wixen a royalty firm is suing Spotify for $1.6 billion dollars for hosting songs it allegedly doesn’t have the full rights to. Wixen collects royalties on behalf of artists including Tom Petty, Neil Young, Janis Joplin and the Doors, alleges that Spotify “took a shortcut” when it cut deals with major labels to host their back catalogues.

The suit which was filed on Wednesday,  states that under the US Copyright Act, each song has two copyright claims: one to the recording, and the other to the composition. Wixen claims that Spotify didn’t obtain the composition rights in their deals, and is seeking damages of $150,000 per song, for over 10,000 songs.

In 2016, it paid over $20m in outstanding royalties to a number of publishers via the National Music Publishers’ Association, while in May 2017, it settled a lawsuit with three small publishers, including the estate of Jaco Pastorius, for over $43m.

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Thing You Can Do To Stop Wasting Money

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We are all guilty of compulsive spending from time to time. But at some point we need to really evaluate where our money is going and is it really worth us buying. Think about this the average American works 39.8 hours per week and pulls in an after-tax income of $52,330, the average bachelor works even more, and earns less: averaging 44.2 hours per week and making only $32,200 in after-tax income. 

Most people fall into the trap of spending the wages before they have it. They make plans but fall to save to accommodate their plans which leads us to burning our money on expenses we can leave without. First if you are one of those people, you need to stop and rethink your spending habits. Check out some of the tips below that can help you keep more money in your pocket.

1. Cable TV

Maybe you should cut cable TV from monthly bills. On average most households spend around $120 a month on cable. With the advent of Hulu, Netflix, Amazon Instant Video, video game shortcuts, Apple TV, and just about every major TV network posting shows online, there’s hardly a reason to splurge on a fancy DVR system or even basic cable–so long as you’re willing to be patient.

Most shows are added at least 24-hours after airing and some networks won’t give them up until eight days. And if your reason for keeping the cable is because you want to catch a football or basketball game on TV, going to a sports bar can take care of that itch.

2. Bank Fees

Banks clearly love to slap you with fees at the drop of a hat, but that doesn’t mean you’ve got to put up with it.

“Consider going with a credit union, which are better than banks in many ways, to avoid some of these fees,” says Andrew Schrage, founder of MoneyCrashers.com.

“If you travel abroad often, make sure you use credit cards without foreign transaction fees, otherwise you’ll be paying an extra 3% to 5% on all your purchases.”

3.  SmartPhones

Ok everybody has a smartphone and we are not telling you not to have one, but do you need the latest model. You can save up to $700 waiting to upgrade you phone instead buying a new one every 6 months because the color of the phone has changed.

“We have seen people making less than $1,000/month who are spending over $100 of that monthly on a cell phone,” he says. “Get an affordable plan and avoid the bells and whistles phones that can be used to upsell you to a higher data plan.”

4. Don’t Blow It All

Instead of spending your entire check on just one thing you really want, consider selling something you don’t use — say, that two-year-old iPhone sitting in your drawer — at Gazelle to get the extra cash and keep some money in your pocket.

5. Plan For Your Fun

Plan for you fun, instead of going out 3 nights a week and blowing your entertainment budget buying drinks. Think about if you went out to a bar and spent $50 on drinks a night, you would have spent $600 a month on drinks. If you did that for a year, you would have spent $7,200 on drinks. So instead of going out 3 nights, go out 1 night  a week.

Put away the rest of the money you would’ve spent on drinks and got on a vacation.

 

 

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Apple Planning Over Bringing $350 Billion To The American Economy

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Apple is the biggest company in the world and the company has decided to change directions. President Trump introduced a new tax plan that Apple plans to take full advantage of. Apple previously had over 97% of all of their cash outside of the US, now the company is planning to spend $350 billion in the US over the next 5 years.

Apple is now claiming its new investment back home will create 20,000 jobs, increasing their number of employees by nearly 25%, and build a new campus in an area where it has no operations currently. “We have a deep sense of responsibility to give back to our country and the people who help make our success possible,” Apple CEO Tim Cook explained.

Apple had long resisted returning to the U.S. its $265 billion in overseas funds because those holdings would be taxed at a rate of approximately 40%, Chief Executive Tim Cook told “60 Minutes.” Under the new tax law passed last month, however, Apple could face a one-time rate of 15.5% for bringing that wealth back to the U.S.

This is a big move and can ultimately encourage other major companies to follow suit.

 

VIA: NYTimes 

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Dragon Ball Z Inspired Yeezy’s Leaked

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It was rumored for months that Adidas was working on an exclusive Dragon Ball Z collabo. Now we have our first look at what we can expect in August when the shoes are released.

YeezyMafia have now unveiled what can be expected from the remaining sneakers as well as when they may be launching.

Pairs already previewed included the Adidas Yung-1 “Frieza,” an Adidas Prophere “Cell,”and an Adidas Kamanda “Majin Buu.”  The remaining pieces of the pack are the Adidas ZX 500 RM, Derrupt, Ultra Tech, and EQT Mid ADV. The releases (other than the EQT Mid ADV) appear to be coming in pairs referencing battles between the characters.

ZX 500 RM (BOOST) GOKU AUGUST 2018

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