Business Markets

Music streaming service Pandora reported a record revenue in Q2 with total revenue of $67 million, a 117 year over year increase. Companys ad revenue increased by 118 percent to $58.3 million in its first quarter as a public company, while subscription and other revenue was $8.7 million.

For the Q2, on a GAAP basis, the net loss per share was $(0.04). The non-GAAP net income per fully diluted common share was $0.02. Pandora ended the second quarter with $95.3 million in cash and equivalents, compared with $43.7 million at the end of Q1.  The cash increase was mainly related to proceeds generated from the companys initial public offering during the second quarter.

The company revealed that the total of hours people spend using the service was 1.8 billion in Q2 compared to approximately 800 million during the same period last year. Estimated share of total U.S. radio lis

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Back to school shopping can set parents back hundreds of dollars. Between notebooks and Nikes, there’s a long list of items that little boys and girls seem to need in order to be ready for a new school year. There are plenty of ways to cut costs on back-to-school shopping. And one of those ways is to take advantage of your state’s sales tax holiday. More than a dozen states have upcoming sales tax holidays– just in time for back-to-school shopping.

Alabama: August 5-7. Clothing up to $100/item, computers up to $750/item, school supplies up to $50/item, books up to $30/item.

Arkansas: August 6-7. Clothing up to $100/item, school supplies.

Connecticut: August 21-27. Clothing and footwear up to $300/item.

Florida: August 12-14. School supplies up to $15/item, books and clothing up to $75/item.

Iowa: August 5-6. Clothing up to $100/item.

Louisiana: August 5-6. All “

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In February, the ifo business climate for Germany will probably have either remained stable or improved slightly, as the ZEW economic sentiment did. The US ISM manufacturing index rose in January. The DAX has gone up and German yield spreads have widened, because long-term interest rates have increased more than short-term interest rates. However, crude oil prices have continued to rise and the euro has appreciated.

Most of the business and consumer confidence indicators in the EMU could have gone up somewhat in February. This applies to the EMU economic sentiment and industrial confidence, the Purchasing Managers’ Index for the manufacturing sector in Germany and in the eurozone, the Italian business and consumer confidence and the Belgian business confidence. However, the French consumer confidence in February and the German GfK consumer climate for March are more likely to have remained unchanged. T

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• FOMC minutes (15 Mar): discussion about inflation risks and very expansive policy stance

The ISM non-manufacturing index, which had been lagging behind its manufacturing counterpart since July 2009, has now reached a similarly high expansion level. This indicates that the upswing has become more balanced and sustainable. We expect the ISM non-manufacturing index to have remained stable at 59.7 in March. As the ISM manufacturing index fell slightly to 61.2 in March, the gap between the two indices will have narrowed somewhat.

The FOMC minutes might focus more than before on inflation risks, given that the last FOMC statement on 15 March emphasised upward pressure on inflation caused by energy and other commodities. Given their relatively favourable economic outlook, several FOMC members are concerned about monetary policy remaining too expansive for too long.

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• PMI manufacturing index EMU (April): up somewhat

In April, the ifo business climate for Germany could have brightened up a bit. A further improvement of the current assessment might offset a potential deterioration of business expectations for the next six months. The DAX has recovered from the slump caused by the disasters in Japan. The same applies to German yield spreads, as long-term interest rates have increased more than short-term interest rates. However, the US ISM manufacturing index and the ZEW economic sentiment have dipped.

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A new arm of the government is going into full effect on July 21, 2011. The Consumer Financial Protection Bureau’s primary mission is to make markets for consumer financial products and services work for Americans. The office will help monitor consumer services including applying for a mortgage, choosing a credit card or any other consumer financial product.

The CFPB hopes to help consumers make direct comparisons of various financial products. “Consumers deserve the peace of mind that financial companies — both banks and nonbanks — are following the rules,” said Elizabeth Warren, Special Advisor to the Secretary of the Treasury on the CFPB. “The CFPB will be able to examine companies that have never been subject to federal oversight to ensure that no one is gaining an unfair advantage by breaking the law. This will ultimately create fair competition, better product offerings, and more transparent markets for consumers.”

The organization will also monitor unfair, deceptive and abusive practices. Congress esta

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French industrial production could have remained more or less unchanged in May, as the correlated climate indicators sent mixed signals. EMU industrial production is more likely to have increased somewhat in May, mainly because the corresponding German figure soared. The EMU trade balance is likely to have improved in May, just like the corresponding German figure.

Destatis will probably confirm the preliminary results for German national CPI in June. But it is also possible that both the monthly and the annual rate will be revised slightly upwards.

Eurostat is publishing the final EMU HICP data for June. We expect the preliminary estimate of 2.7% to be confirmed. In the coming months, the inflation rate will probably remain at around the current level.