Spotify AB is nearing a deal to raise $400 million, valuing the music streaming service provider at $8.4 billion, the Wall Street Journal reported, citing people familiar with the matter.
More than a decade ago, the late Steve Jobs pulled one of his trademark reality distorting maneuvers, browbeating music label executives into selling songs on Apple Inc's then-nascent iTunes digital store for a mere 99 cents apiece.
Bank of America CEO Brian Moynihan and Federal Reserve Board Governor Jerome Powell will be among bank executives and regulators speaking at an industry conference in New York hosted by The Clearing House Association, which represents interests of the biggest commercial banks.
Hedge funds including Philippe Laffont's Coatue Management and Patrick McCormack's Tiger Consumer Management both opened stakes in Pandora of about 1.1 million and 2.9 million shares, respectively, U.S Securities and Exchange Commission filings showed.
Pandora Media announced that it has hired a new executive on board the company to help boost the company's ad sales and profit.