Warner Music shares jumped more than 15% yesterday after the company posted huge quarterly earnings. Warner credited its revenue bump to big releases and royalty payments from social media. For Warner, those fees now amount to $370 million a year.
Mortgage rates in the UK on five-year fixed deals have dipped below 6 per cent for the first time in nearly two months, and US retailers are facing their first real-terms fall in revenues since the global financial crisis this holiday season. Plus, the FT’s gulf correspondent, Simeon Kerr, explains why there’s so much pressure on Qatar as the country hosts the World Cup.
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