Spotify shares have surged to a three-year high, jumping 15% at the start of trading following strong second-quarter results which saw operating costs drop due to job cuts. This surge comes as Shell plans to sell leases for floating wind farms off the coast of Scotland, signaling a shift away from renewable power expansion. The company has also abandoned plans to cut oil production, highlighting a change in direction.
On the political front, businesses are expected to cancel attendance at the upcoming Conservative conference, in what is seen as a snub to the party following Labour’s election victory. Additionally, the BBC has revealed that half a million households cancelled their license fee last year, with younger audiences turning to streaming services like Netflix and YouTube.
In the housing sector, new home registrations in the UK fell by 23% in the second quarter compared to the same period last year, highlighting challenges in the construction industry. The new Labour government has pledged to reform the planning system to address housing shortages and build more affordable homes.
Overall, these events reflect ongoing shifts and challenges in various sectors, from the energy industry to politics, media, and housing development, shaping the current landscape and future direction of these industries.
Source
Photo credit www.theguardian.com