Politics
UK inflation surged to 3% in January, marking a significant spike.
February 28, 2025
Sorry, Canada—there’s a new getaway for those seeking to leave the political drama behind: a four-year "Skip Forward" cruise, designed as a complete escape from the turmoil of U.S. politics. The price for a single cabin? A cool $256K.
Meanwhile, U.S. stock indexes dipped yesterday, pulling back after a blistering rally following the election. On the crypto front, Bitcoin reached a new milestone, hitting $90K for the first time, though it dipped slightly to end the day at $94,484.16.
Last-ditch move... In a final attempt to avoid a US ban, TikTok has turned to the Supreme Court, requesting a temporary halt to a law that could force its Chinese parent company, ByteDance, to sell the app or face a ban in the US. The law would require ByteDance to divest its controlling stake in TikTok by January 19, or the app, which boasts 170 million American users, will be blocked from US devices.
Tough choices ahead... ByteDance has refused to sell TikTok, and China is unlikely to approve the export of the app’s algorithm. If ByteDance doesn’t divest, app stores like Apple (AAPL $250.41, -0.72%) and Google (GOOGL $189.31, -1.00%) could face significant fines for offering TikTok.
Political twists... While President-elect Trump previously sought to ban TikTok in 2020, he has now signaled support for saving the app. However, the timing is tricky as the divestment deadline falls just one day before his inauguration, and President Biden’s administration has not indicated any plans to extend it.
A constitutional battle... TikTok’s legal challenge follows a lower court ruling this month that upheld the TikTok ban, rejecting the argument that it violates free speech. The debate is heating up over whether the app's potential ban infringes on the First Amendment, with TikTok arguing it does while the US government views the app’s Chinese ownership as a national security threat.
Big tech stands to gain... A TikTok ban would be a boon for competitors like Meta (META $585.60, -0.96%), Google, and Snap (SNAP $10.76, -0.83%), all of which have TikTok-like features ready to take over. When India banned TikTok in 2020, 200 million users flocked to rivals like Instagram Reels and YouTube Shorts.
The broader impact... A potential ban would hit not only TikTok’s parent company but also the entire ecosystem of creators, marketers, and businesses that have built success on the platform. Retailers, record labels, and corporations reliant on TikTok for marketing and viral content could face a significant setback.
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Reaching New Heights: Live Nation’s stock surged to an all-time high yesterday after investors were impressed by the concert giant’s earnings report. The company, which owns Ticketmaster, revealed it had sold 144 million tickets by October, a 3% increase from the previous year. Spending at events also rose, with fans spending more on food, merchandise, and other extras at Live Nation’s music festivals and venues. While overall sales and profit showed a dip compared to last year, the company emphasized that concert demand remains strong.
Looking Ahead: Live Nation is already ahead of last year’s pace, having sold over 20 million tickets for next year’s events. The company is building anticipation with a star-studded lineup featuring Shakira, Rüfüs Du Sol, and Coldplay.
Legal Drama: The company’s path forward isn’t without hurdles. Live Nation is still embroiled in a lawsuit from the DOJ seeking to break up its partnership with Ticketmaster. However, Live Nation’s president remains hopeful that the legal pressures may ease under the incoming Trump administration.
Concert Boom: This year marked Live Nation’s best summer concert season ever, with mega-stars like Taylor Swift and Beyoncé drawing millions of fans. The average ticket price has risen nearly 10% to $127, but that hasn’t stopped fans from flocking to shows. In fact, more than half of U.S. consumers attended at least one live event in the last six months, and over a third of millennials and Gen Z are willing to dip into their savings to travel for concerts.
Premium Push: Moving forward, Live Nation is targeting superfans willing to pay for higher-end experiences such as premium seating, VIP club access, and exclusive parking. The company anticipates that these high-end offerings could eventually account for more than 20% of its sales. To keep up with demand, Live Nation plans to expand capacity, with plans to accommodate an additional 8 million fans next year.
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