Spotify’s posts subscriber growth: Spotify reported a 23% rise in monthly active users in the fourth quarter, which now total 602 million, just ahead of analysts’ expectations of 601.33 million. The rise, announced Tuesday, comes after the company raised subscriber prices and cut thousands of employees in a series of layoffs. Spotify previously said it plans to reach one billion users by 2030. Full story.
Boeing faces new pressures from workers: The aircraft manufacturer’s largest union, the International Association of Machinists and Aerospace Workers, plans to demand a 40% pay raise during contract negotiations in March, and will strike if needed, Bloomberg reports. The demands come as Boeing faces the fallout of last month’s hazardous incident aboard an Alaska Airlines flight, which could cost the company $1 billion. Full story.
Honda’s recall: The automaker recalled over 750,000 vehicles due to a faulty weight sensor in the passenger seat, which is supposed to prevent the airbag from inflating if children occupy the seat to reduce risk of injury. The recall, announced by the U.S. National Highway Traffic Safety Administration on Tuesday, affects a range of models from the 2020 through 2022 model years, including specific Honda Pilot, Accord, Civic sedan, HR-V and Odyssey models. Honda reported no injuries or deaths as a result of the issue, and dealers will replace sensors free of charge. Full story.
Lyft’s new minimum pay standard: Lyft now guarantees that 70% or more of rider payments, minus external fees, will go toward the ride app’s drivers. The minimum pay standard launched in major cities on Tuesday, and is part of the company’s increased focus on its drivers, who will now see an outline of the rider fare breakdown in an effort to increase pay transparency. Lyft says around 15% of its drivers earned less than 70% of riders payments each week in 2023, on average. Full story.
WeWork cofounder Adam Neumann eyes a comeback: Adam Neumann, cofounder and ex-CEO of WeWork, aims to buy back the bankrupt coworking company, the New York Times’s DealBook reported Tuesday. Neumann was ousted back in 2019 after botching the company’s plans to go public, and now seems to be partnered with investor Dan Loeb to fund the deal. The potential deal comes after WeWork filed for bankruptcy in November, after it was once valued at $47 billion. Full story.
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