On Monday, Shares of Apple Inc. (NASDAQ:AAPL), gained 0.80% to $127.61.
Apple’s abrupt about-face on paying royalties for songs during a three-month free-trial period for its new music service was a symbolic victory for superstar Taylor Swift and other artists, and a shrewd business move by Apple, at a time when the streaming phenomenon is causing major changes in the music industry, according to AP.
The olive branch extended by Apple comes as music is increasingly being consumed on streaming services like Spotify and Deezer — to the detriment of album sales and iTunes downloads — heightening tensions between artists, labels and service providers over who gets paid and how much. AP Reports.
Apple had already agreed to share revenue from the new Apple Music service once users start paying a $10-a-month subscription fee for the service, which it plans to launch June 30. But the technology giant wasn’t planning to pay artists and labels directly for the use of their music during the free, 90-day trial period that it’s offering to get fans to try the service. AP added.
Apple Inc. designs, manufactures, and markets mobile communication and media devices, personal computers, watches, and portable digital music players worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
Shares of Verizon Communications Inc. (NYSE:VZ), inclined 0.15% to $47.53, during its last trading session.
Proposing a solid wage enhance up front, Verizon held its first negotiating session recently with representatives of the Communications Workers of America and the International Brotherhood of Electrical Workers on contracts covering about 38,000 Verizon East Wireline Employees. The projected wage enhance is part of a competitive and comprehensive three-year offer presented by Verizon to address issues that would assist propel the company’s Wireline unit in the digital age.
The company’s comprehensive offer comprises several key proposals:
- Wages — Offered there is a signed agreement by Aug. 1, upon ratification of a new contract there would be a 2 percent wage enhance effective Aug. 2, 2015; a 2 percent enhance one year later; and a $1,000 lump sum payment in the third year. The average annual salary and benefit package for a Verizon associate in the East is $130,000. Verizon technicians in the New York City/Long Island region presently have an average total wage-and-benefit package worth in excess of $160,000 a year.
- Pensions — Pension-eligible associates would be given a choice of ongoing to earn pension benefits under the defined benefit plan with some limitations and forgoing the existing 401(k) company match, or opting for the improved 401(k) plan presently offered to administration employees (which comprises a bigger company match and a profit-sharing contribution) with a frozen pension benefit. With the exception of union-represented employees hired since Oct. 28, 2012, employees under these collective bargaining agreements presently have both a defined benefit pension plan AND a 401(k) savings plan with a generous company match, a benefit structure that’s from another era.
- Healthcare — Negotiating cost controls for the company’s healthcare plans is essential. The cost of medical coverage for an East associate and one or more family members presently averages nearly $20,000 a year. In one of the company’s East plans, the annual cost for this coverage is over $23,000 annually. By contrast, the national average for family healthcare coverage is about $16,800. The company is proposing an enhance of $8.10 per week next year for individual healthcare premiums. Other reasonable cost controls are also important to assist keep this Wireline business unit competitive.
- Workforce administration — The company is seeking more flexibility in terms of managing the workforce compriseent with customer demands.
Verizon Communications Inc., through its auxiliaries, provides communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company’s Wireless segment offers wireless voice and data services; messaging services; service that enables its customers to access the Internet on smartphones, basic phones, notebook computers, and tablets; customers and business-focused multimedia offerings; location-based services; global data services; LTE Internet, a high-speed Internet service; and network access and value added services to support telemetry-type applications.
Finally, Exelon Corporation (NYSE:EXC), ended its last trade with -0.39% loss, and closed at $33.40.
Based in Philadelphia, PECO is an electric and natural gas utility partner of Exelon Corporation (EXC). PECO serves 1.6 million electric and more than 506,000 natural gas customers in southeastern Pennsylvania and employs about 2,400 people in the region. PECO delivered 89.9 billion cubic feet of natural gas and 37.5 billion kilowatt-hours of electricity in 2014.
From throwing out the first pitch at a Phillies™ game to getting VIP treatment at this summer’s hottest concerts, PECO’s Coolest Summer Ever is back for its third year, offering cool prizes and exciting experiences offered by many of PECO’s community partners.
Starting today and running until August 31, PECO customers can register to win one of five exciting Coolest Summer Ever prize packages at peco.com/coolestsummerever.
For more than 100 years, PECO has built partnerships with a variety of educational, environmental, arts and culture, and community development organizations throughout the Philadelphia region. PECO’s Coolest Summer Ever provides customers with opportunities to win fun experiences with these organizations.
This year’s prizes comprise:
Ring in the Fourth (June 22-28): Two VIP tickets to the Philly 4th of July Jam on the Benjamin Franklin Parkway and one family four-pack of passes to see the sites in Historic Philadelphia.
Cool Summer Nights (June 29-July 5): Two tickets to three summer concerts at the Mann Center for the Performing Arts with artists such as Idina Menzel, Diana Krall and the Philadelphia Orchestra, “Weird Al” Yankovic and Of Monsters and Men.
Music Lover’s Dream (July 13-26): Get the VIP treatment with two tickets to see Billy Joel (August 13), Kelly Clarkson (Sept. 20) and Madonna (Sept. 24).
Play Ball! (July 27-August 9): Throw out the first pitch when the Phillies™ take on the New York Mets on Aug. 27, counting four lower-level seats, dinner in the Diamond Club, food and beverage credit, and parking.
Ultimate Arts & Culture Experience (August 10-31): Comprises four tickets to the Barnes Foundation with private tour, four tickets to the Philadelphia Zoo with special behind-the-scenes experience, two tickets to see “All My Sons” at People’s Light & Theatre Co. and much, much more!
Exelon Corporation, a utility services holding company, engages in the energy generation and delivery businesses in the United States. It owns electric generating facilities, such as nuclear, fossil, and hydroelectric generation facilities, in addition to wind and solar photovoltaic facilities.
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