Source Pravda.Ru

Warner Music Group Corp reports losses and stock drop

Warner Music Group (WMG), the third-largest of the "big four" major record labels, reported a larger second-quarter loss and suspended its quarterly dividend.

The net loss increased up to $37 million, or 25 cents a share, from $27 million, or 19 cents, a year earlier. Income taxes totaled $13 million, up from $1 million a year earlier.

The loss influenced the picture of Warner Music Group at New York Stock Exchange trading. The company experienced the biggest ever drop of its stock by 29 percent to $6.39.

The 13 cent-a-share dividend was eliminated to build cash and make investments in artists. Record labels were hurt by piracy and consumer preference for buying single songs rather than full albums. Industry sales in the U.S. fell 17 percent this year.

The US is going to ban exports of Iranian oil to the world market from November 5 of this year. In turn, Iran threatens to block the passage of oil tankers of the Gulf countries through the Strait of Hormuz

Will Iran close the Strait of Hormuz to trigger global oil crisis?

The US is going to ban exports of Iranian oil to the world market from November 5 of this year. In turn, Iran threatens to block the passage of oil tankers of the Gulf countries through the Strait of Hormuz

Will Iran close the Strait of Hormuz to trigger global oil crisis?

The World Cup that is about to finish in Russia has shown that the Western propaganda machine has failed to create the image of Russia as a monster with "many tentacles." By and large, the Russians and the Ukrainians are close to each other

Putin-Trump meeting to decide the future of Ukraine