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LONDON — Spotify said Tuesday that founder Daniel Ek is stepping down as CEO to become the executive chairman, in an announcement that sent its shares sliding in premarket trading. The Stockholm-based streaming giant said Ek will be replaced by two lieutenants who will become co-CEOs: Chief Product and Technology Officer Gustav Söderström and Chief Business Officer Alex Norström. The pair, who are also currently copresidents, will transition into their new jobs on Jan. 1 and will report to Ek. Spotify said in a press release that the move “formalizes” how Spotify has been operating since 2023, with Söderström and…

Image Source: Bing Image. License: All Creative Commons The world has stood by in equal measure dismay and desperation as the Trump administration has overturned decades of American foreign policy, most notably in its handling of the Russia-Ukraine conflict. The vow to bring the war to an end “within 24 hours” was always going to be a tall order, but reality has been even more complicated, with initial steps that have left allies stunned and rivals regrouping. Image Source: Bing Image. License: All Creative Commons When President Trump began his second term in office, he did not hesitate to call…

SANTA FE, N.M. — SANTA FE, N.M. (AP) — New Mexico lawmakers moved quickly Thursday at a special legislative session to prop up funding for food assistance and rural health care services in response to President Donald Trump’s cuts to federal spending on Medicaid and nutrition programs.The Democratic-led Legislature sent a flurry of bills to Gov. Michelle Lujan Grisham that include more than $16 million to sustain food assistance under the Supplemental Nutrition Assistance Program and additional funds to bolster food banks, as the federal government ends SNAP eligibility for many noncitizens and changes benefit calculations for others.“We need to…

[SINGAPORE] Global multi-strategy investment firm Arena Investors is shutting its Singapore office and seeking to reallocate resources elsewhere, according to sources familiar with the matter.The firm found that investments in Asia were often not as appealing on a risk-to-return basis, nor as scalable compared to those in North America and Europe, one of the sources said, who asked not to be identified discussing private matters. Still, Arena remains open to pursuing compelling opportunities in the region, the source added.Arena’s Asia-Pacific team is focused on opportunistic credit-related investments with a flexible mandate, including direct lending, asset acquisitions and joint venture formation,…

RJ Young FOX Sports National College Football Analyst Michael Cohen College Football and College Basketball Writer Few teams in college football have made a louder early-season statement than Miami. The Hurricanes have stormed out to a 4–0 start behind an elite defense, a revamped offensive line, and the steady hand of transfer quarterback Carson Beck. Now, the Canes are set to face their biggest test yet — a trip to Tallahassee to take on rival Florida State in one of this weekend’s few ranked matchups.FOX Sports college football writers RJ Young and Michael Cohen break down where the Hurricanes stand, what’s…

Federal officials have approved another generic version of the abortion pill mifepristone, a regulatory formality that quickly triggered pushback from anti-abortion groups and politicians aligned with the Trump administration. Drugmaker Evita Solutions announced on its website that the Food and Drug Administration signed off on its low-cost form of the pill, which is approved to end pregnancies through 10 weeks. Evita Solutions is the second company to have an approved generic version of mifepristone. The first was from pharmaceutical company GenBioPro, approved in 2019.The move prompted backlash from some conservatives. Republican Sen. Josh Hawley of Missouri criticized the move in a post…

The world’s biggest asset manager is set to wrap up fundraising by the first quarter of next year[HONG KONG] Blackstone hit a US$10 billion target for its latest Asia buyout fund as investors bet an entrenched India presence and expanding footprint in Japan will keep powering strong returns, sources familiar with the matter said.The world’s biggest asset manager is set to wrap up fundraising by the first quarter of next year, the sources said. The New York-based firm is likely to reach its US$12.9 billion hard cap, the maximum set out in marketing materials, the sources said, asking not to…

Global Infrastructure Partners already owns Dallas-based data centre company CyrusOne with KKR[NEW YORK] Global Infrastructure Partners (GIP) is in advanced talks to acquire Macquarie-backed Aligned Data Centers in one of the biggest deals of the year, according to sources familiar with the matter.Aligned could be valued at about US$40 billion in a transaction, said one of the sources.An agreement could be announced within days, said the sources, who asked not to be identified because the information is private.MGX, an artificial intelligence (AI) investment company established by sovereign wealth fund Mubadala Investment, is also involved in the talks and would invest…

Week 5 of the NFL season got underway with another NFC West rivalry on Thursday Night Football.  The Rams had won the past three matchups between the two sides and were in position to keep that streak alive as the 49ers were down a slew of key players. However, San Franscisco, led by quarterback Mac Jones, caught Los Angeles off guard and upset them in SoFi Stadium. Here were the highlights, along with analysis from FOX Sports NFL reporter Eric Williams. Live Coverage for this has ended 11:43p ET Final in OT: 49ers 26, Rams 23 11:25p ET End of…

HANOI :Vietnam’s central bank expects credit to increase by 19 per cent to 20 per cent this year and will prioritise economic growth while maintaining stability in the face of global uncertainties, senior officials said on Friday. Deputy Governor Pham Thanh Ha also said at a press conference that commercial banks’ lending interest rates were on a downward trend and called for further cuts.”The global economic and political situation has so far this year evolved in an unpredictable manner, with market concerns about the U.S. tariff policy, the risks of a global trade war and geopolitical conflicts,” Ha said. Pham…