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The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
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Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
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World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
Stocks in Asia fell Monday afternoon following an escalation in the U.S.-China trade war late last week.Asia Marketsread more
A U.S. nonprofit charged with collecting digital royalties for music artists sued satellite radio service provider for at least $50 million on Monday for underpaying on recordings, including ones from before 1972.
The lawsuit was filed in the U.S. District Court for the District of Columbia by SoundExchange, an entity appointed by the Copyright Royalty Board to collect and distribute performance royalties established under federal law.
The lawsuit said from 2007 through 2012, Sirius XM "systematically" underpaid SoundExchange for the statutory license that allows the service to air recordings to its millions of paying subscribers.
The lawsuit said Sirius in particular reduced by 10 percent to 15 percent the gross revenues it reports to calculate the royalties because that corresponded with performances of pre-1972 recordings.
The royalty rate that would be charged against those gross revenues ranged from 6 percent in 2007 to 8 percent in 2012, according to SoundExchange, which was established by the Recording Industry Association of America.
"We cannot sit by and watch this multi-billion dollar company reap record profits from the creative contributions of artists and labels without paying them everything they deserve," SoundExchange Chief Executive Michael Huppe said in a statement.
(Read more: McAndrews to succeed Kennedy as Pandora CEO)
Representatives for Sirius XM did not immediately respond to a request for comment.
But in the complaint, SoundExchange said Sirius had taken the position that the statutory license established under federal law does not cover pre-1972 recordings.
Sound recordings were not given federal copyright protection until 1972 and instead relied on state law for protection.
The lawsuit also accuses Sirius of, among other things, excluding from its revenue calculations money it earned from customers subscribing to its Sirius XM Premier package and of failing to make timely royalty payments.
The lawsuit seeks $50 million to $100 million or more, along with appropriate late fees and interest.
The case is SoundExchange Inc. v. Sirius XM Radio Inc., U.S. District Court, District of Columbia, No. 13-01290.