Spotify to start trading April 3 in NYSE


Music streaming company Spotify will start trading in the New York Stock Exchange on the 3rd of April. According to the company and Wall Street Journal the trading code  in this direct listing will be “SPOT”.

Spotify is having about 159 million active users monthly and majority of the revenues comes from the premiun packages. The average revenue per premium user (ARPU) has declined to 5,32 euros last year from 6,20 euros in 2016.

Spotify´s revenue was 4,1 billion euros last year, up 39 % from year earlier. The loss was 1,24 billion euros, up from 539 million euros in 2016.

According to the company, Spotify is planning to increase its R&D team in London and make it a global R&D hub for the group. Spotify spokespersons comment that the car will be an important part of the company growth in the future, while 30 % of music listening will happen in the car. Spotify has also a venture with Tesla Europe.

Business Tech

FT: Luxury online Farfetch planning an US IPO

The British luxury online-retailer Farfetch is planning an US IPO. According to the Financial Times, the company has hired investment bankers from JPMorgan and Goldman Sachs to lead the offering. The company is selling brands like Gucci, Fendi and Valentino. The company nor the bankers did not comment the FT news.

This London based company is one of the few tech companies at the row valued more than billion dollars, the newspaper says. The luxury online markets have been growing steadily and for example last year the growth figures were double digit.

The companies in the markets are active and for example the Swiss luxury giant Richemont (CFR:SW)  announced in the late January a tender offet to buy Net-a-Porter (YNAP:MI), the word largest online luxury retailer. The Swiss company is planning to have the majority of the Milan based online-luxury retailer, while it owns 49 % of the platform at the moment.


Berkshire Hathaway: 3 billion losses from hurricanes


One of the largest holding companies in the US, Berkshire Hathaway (BERK)  has commented the environmental losses in their insurance operations. According to their CEO Warren Buffet, the company estimates that the three hurricanes in the US (Harvey, Irma and Maria) caused the company 3 billion dollars losses.  The company also estimates that the company´s share of the big environmental damages  in the US would be around 3 % in the future.

The company commented these on Saturday, when Mr Buffet also published his letter to shareholders. Hurricanes Harvey, Irma and Maria and the wildfires in California have been in the headlines when climate change and rapid urbanization are increasing the insurance companies environmental losses. In Berkshire, the insurance businesses are in Geico insurance company and in General Re reinsurer.

Last year was very good for the company, showing 23 % increase in net worth  totalling 65,3 billion dollars.  Nearly half of it, about 29 billion dollars, were from the new taxation gains from the president Trump administration.

Berkshire Hathaway is also showing 116 million dollars cash and according to Buffet they are searching for new purchases. – The key qualities we seak are – durable competitive strenghts, he wrote in the letter.

He did not comment the company´s  big positions like Apple (about 3 %) or WellsFargo. The company made smaller acquisitions during last year and for example a company called HomeServices, a real estate brokerage company, is now the second largest in the US – and focusing on this 3 % real estate brokerage  business.


New Volvo plug-in-hybrid – V60



The Volvo Cars Group  (VOLVB) has presented their new hybrid car – V60.  It is designed to meet the quality, design and safety needs of everyday life in the city and countryside.

According to the company  “the car was launched in its natural habitat – the driveway of a family home in Stockholm – highlighting Volvo Cars’ pedigree in family estates and pinpointing how the V60’s versatile design caters to the diverse needs and realities of modern family life.”

This five-door, mid-size premium estate & plug-in hybrid can have combined power from 340 hp to 390 hp (petrol & electricity).  Volvo says it will also produce a diesel version of this model. The driving range with electricity is estimated to be about 45 kilometers. The lithium batteries are in the center of the car, so this enables more space for sporting goods.

The price of the Volvo V60 T6 Twin Engine Inscription level is 518 900 SEK  and the V60 T8 is 548 900 SEK.

– They will go on sale during summer time in Sweden and the start of the production is during the autumn time. First cars should be ready during the first quarter of 2019, the Volvo-company spokesperson confirmes.

The company also announced that they are offering a lease version instead of owning a Volvo.

– Our premium subscription service Care by Volvo offers car access via a monthly flat-fee subscription rather than ownership. Care by Volvo makes having a car as transparent, easy and hassle free as having a mobile phone, the company says.

This service is available for example in Germany, Norway, Sweden, Poland, Spain, UK and USA.




Brexit: UK to ask longer transition period


Britain  is asking longer Brexit-transition period as December 2020.  According to the Independent-newspaper, the UK Goverment is asking the EU to consider longer transition period because of the physical infrastructure adjustments. The information was published on Wednesday.

The UK Goverment is referring to the national borders like ports and airports to cope with the increase of the customs checks.  The proposed new timelime would be something around two years into 2021.

The financial and industrial companies are also considering their European headquarters because of the Brexit. Today the Bank of America (BAC)  Merrill Lynch decided to stay in London and extended their lease to 2032. According to Bloomberg, this building in the City of London is owned by the Norwegian Oil Fund.








Swiss Watch Industry´s export value 1,6 billion francs in January



The Swiss Watch Industry showed increase in its export value in January compared to year ago figures. According to the Swiss Watch Industry  the monthly value stood at 1,6  billion francs, up with 12,6 %.  This increase was highlighted by some analysts saying that this means that the two year decline in this luxury & watch industry now is making turn into a positive trend.

The biggest export countries were HongKong, China, USA, UK, Japan and Germany, totalling 847 million francs and with 14,1 % increase. The three biggest countries were HongKong (242 million francs, + 21,3%), China (176 million francs, +44,3%) and USA (163,1, -1,9%).

In the Stock Exchanges, for example the S&P Global Luxury Index is showing + 35,78 % annual increase, while for example the LVMH (MC:FP) share price has increased over 32 % and Kering (KER:FP) over 74 % annually. The Swiss Watch Group Swatch (UHR:SW) has increased over 21 % during the year.


Powerful driving with BMW X5 hybrid


BMW is one of leading car manufacturers with design and quality.  This hybrid BMW X5 was also an example of the modern feeling and functions. The SUV, or should we say SAV (sports activity vechile)  is having powerful engines with engine power (HP) 245 and combined electricity consumption 15,3 kWH per 100 km. Electrical range is roughly 31 kilometers or 22 kilometers with everyday use.

The EU emission classification is EU6, but it will be seen later this year what is the real driving emissions (RDE), when the EU is setting the new real emissions standards. It is also expected that the UK will follow the new EU standards in spite of Brexit. In this SUV, the combined carbon is 77 g per kilometer according to the company information. The carbon for driving in the city or in highways are not given yet.

Your first impression of the safety in this car is the seat belt. It matches your body after you start the driving, but also giving the needed flexibility in every situation.  Also the other assistant services like iOs or Android integrated services like locking/unlocking, engine oil levels, tyre pressures can be also done via the application remotedly.

The BMW Group has integrated the connected car  & mobility functions in its core services as well and lately it bought the company called DriveNow, which enables car sharing in different cities globally. But at the same time the company is building with other car manufacturers a European network of charging stations.

Electricity target for the BMW company is that the group have reduced the Co2 emissions by at least 50 % compared to the base year 1995. This target is for the year 2020.

For this plug-in-hybrid X5 car, the charging is easy and the company has made a service package for home and office locations.   Later on, as cars, hybrids and electric cars are having the same kind of functions in the vechiles, one of the most important competitive edges will be the total service offering and quality in the processes. The building of the infrastructure is happening at the moment.

The luckage storage was big enough for example for sports equipments altough the litium-batteries were below the trunck floor. And the size of traditional gasoline fuel tank was 83 liters/21,9 US gallons.

The interior design and comfort with driving are excellent. Leather, led lights finish the feeling.

The Group has made a video of the BMW  X5 adventures in Asia.  Notice that car is not hybrid. Watch the video here:



Business Lifestyle