Spotify’s Wall Street Debut Is a Success

Supported by Media Spotify’s Wall Street Debut Is a Success Photo The music streaming service Spotify was valued at $26.5 billion at the close of its first day of trading on the New York Stock Exchange Tuesday. Credit Spencer Platt/Getty Images Spotify is a hit.
On its first day of trading on the New York Stock Exchange, the music streaming service finished with a valuation of $26.5 billion. The share price closed at $149.01, giving Spotify a market value similar to that of companies like M&T Bank and General Mills.
For the music business, Spotify’s listing on the Big Board symbolized the ascent of streaming as the new dominant format. It also represented some rare good news for an industry deeply affected by technological change. Buoyed by subscriptions from services like Spotify and Apple Music, record labels have begun to have significant revenue growth for the first time in nearly two decades, drawing attention from investors.
“There’s a healthy appetite among public market in..

Janka Nabay, 54, Dies; Carried an African Dance Music Worldwide

Janka Nabay, 54, Dies; Carried an African Dance Music Worldwide Photo Janka Nabay performed in 2017 at a music festival in Rennes, in northwest France. He modernized bubu, a traditional musical style from his native Sierra Leone. Credit Loic Venance/Agence France-Presse — Getty Images Janka Nabay, a singer, songwriter and bandleader from Sierra Leone who modernized an ancient tradition called bubu and carried it worldwide, died on Monday in the Kambia District in northern Sierra Leone. He was 54.
His American record company, Luaka Bop, said the cause was a stomach illness that had not been diagnosed.
During the 1990s, Mr. Nabay took the speedy beat of music that had been heard for centuries in parades and celebrations and transferred it to Western instruments. His songs became hits as civil war tore Sierra Leone apart and were claimed by both sides, although his music increasingly held direct antiwar messages.
Mr. Nabay emigrated from Sierra Leone in 2002. Living in New York City, he s..

Morgan Stanley Fires Broker With History of Abuse Claims

Supported by Business Day Morgan Stanley Fires Broker With History of Abuse Claims Photo A mug shot of Douglas E. Greenberg, one of the top earners in Morgan Stanley’s wealth management division, from 2014. Credit Clackamas County Sheriff's Office Morgan Stanley said Tuesday that it had fired a star financial adviser who has been accused by multiple former wives and girlfriends of physical abuse and stalking.
The New York Times reported last week that Morgan Stanley executives for years had known about the allegations against the financial adviser, Douglas E. Greenberg. The Wall Street firm placed Mr. Greenberg, who worked in Portland, Ore., on administrative leave last week after being contacted by The Times.
In a statement on Tuesday, a Morgan Stanley spokeswoman said the bank needed to “do better” at handling such employee misconduct issues.
“We believe that our employees should behave in a manner consistent with our firm’s values and the trust our clients place in us, bot..

YouTube Shooting: Police Believe Female Suspect Killed by Self-Inflicted Wound

Supported by Business Day Police Believe Female Suspect in YouTube Shooting Killed by Self-Inflicted Wound Photo Police in San Bruno, Calif., responding to reports of an active shooter near YouTube’s headquarters on Tuesday. Credit Reuters Police descended on the headquarters of YouTube on Tuesday afternoon after reports of an active shooter at the building in San Bruno, Calif.
Images of the scene and accounts of the terrifying moments experienced by those inside immediately began spreading online. Authorities said they believed a female shooter had died of a self-inflicted gunshot wound. At least four others were injured.
Read the latest updates in our live briefing »
What we know happened at YouTube’s headquarters• The police who searched the building discovered the body of a female who they believe to be the shooter. She had apparently killed herself, according to Ed Barberini, chief of the San Bruno Police Department. He said there was no information to indicate there was anot..

YouTube, Special Counsel, Spotify: Your Tuesday Evening Briefing

YouTube, Special Counsel, Spotify: Your Tuesday Evening Briefing (Want to get this briefing by email? Here’s the sign-up.)
Good evening. Here’s the latest.
Photo Credit Graeme MacDonald, via Reuters 1. At least four people were wounded, one of them critically, in a shooting at YouTube’s headquarters in San Bruno, Calif., above. The shooter, who the police said was a woman, died, apparently from a self-inflicted gunshot wound.
One employee tweeted that he had “heard shots and saw people running while at my desk.” He said that he was barricaded inside a room with co-workers, but moments later tweeted that he had been safely evacuated. Footage from the scene showed people being led away from the building with their hands in the air in a single-file line.
Check back for updates on this developing story.
Photo Credit Doug Mills/The New York Times 2. “We’re going to be guarding our border with the military.”
President Trump said he’d order troops to guard the southern border until he ..

Connie Lawn, Independent White House Reporter, Dies at 73

Supported by Obituaries Connie Lawn, Independent White House Reporter, Dies at 73 Photo Connie Lawn in 2007. “I want to remain a viable part of this unfolding history as long as I can,” she said. Connie Lawn, a radio and broadcast reporter who covered the White House in the waning days of Lyndon B. Johnson’s administration, when women were a rarity there, to the first year of Donald J. Trump’s, died on Monday at her home in Falls Church, Va. She was 73.
The cause was a rare form of Parkinson’s disease, said her husband, Dr. Charles Sneiderman.
Unlike many White House correspondents, Ms. Lawn built her nearly 50-year career without the consistent support of an established media company. She created an independent news service called Audio Video News (she was the only employee) and reported for different clients, like the BBC, Radio New Zealand, USA Radio Network and Salem Radio Network.
Ms. Lawn said she had created her own company in order to maintain her independence and pursue s..