Spotify, a music-streaming service, listed its shares in New York. The Swedish firm opted for an unconventional direct listing, allowing existing investors to trade shares freely instead of issuing new stock. The shares ended the first day of trading at $149. That valued Spotify at $26.5bn, making it the largest listing since Snap, the parent of Snapchat, floated last year.
The trade tiff between America and China escalated. The Trump administration identified 1,300 Chinese products, including car parts and television sets, that it would whack with tariffs of 25%. In response China threatened to slap duties on 106 American goods, including cars and soyabeans—prompting the White House to threaten a further $100bn-worth of tariffs. The tough talk spooked stockmarkets.
Another privacy scandal hit the tech world. Researchers discovered that Grindr, a dating app aimed at gay people, had been sharing its users’ HIV status with two third-party firms. Facing a backlash, the firm agreed to stop. Facebook raised its estimate of the number of people affected by the Cambridge Analytica data breach, from 50m to 87m.
America imposed sanctions on seven Russian oligarchs—some of whom are close to President Vladimir Putin—as well as 12 companies they control and 17 senior Russian government officials. The move was prompted by Russia’s subversion of democracy, its intervention in Syria and its alleged involvement in the poisoning of an ex-spy in Britain. It follows America’s expulsion of 60 Russian diplomats.
Park Geun-hye, South Korea’s former president, was sentenced to 24 years in prison for her role in an influence-peddling scandal that led to her impeachment in December 2016. Prosecutors had recommended she receive a 30-year sentence for crimes including bribery, coercion and abuse of power. Ms Park refused to attend the hearing, having boycotted the trial since it began.
Brazil’s supreme court ruled by six votes to five that Luiz Inácio Lula da Silva, a former president, can be jailed while he appeals against a 12-year sentence for accepting a bribe from a construction firm. He is currently leading in polls for October’s presidential election but the conviction could make it impossible for him to run.
France’s four main railway unions went on strike in protest against reforms planned by President Emmanuel Macron. He proposes to end railway workers’ special employment status, which includes employment for life. Energy workers, rubbish collectors and Air France employees are also on strike. The stoppages are the most serious threat yet to Mr Macron’s agenda of reforms.
（翻译完上篇，这篇懒得翻译了，下次吧。）
NEWS FROM TE ESPRESSO
