Category: Business

  • Russ talks ownership, fan engagement and ‘making music every day’ at SXSW

    Russ talks ownership, fan engagement and ‘making music every day’ at SXSW


    In June 2015, US rapper Russ made $600 from his music. In June 2016, exactly 12 months later, with no label and no major label marketing budget, he made $100,000 in a single month. The only difference was time, and the 200 songs he had released by then.

    Russ (born Russell James Vitale) has released music through TuneCore for 15 years. He was signed with Columbia Records from 2017 to 2020, but returned to independence thereafter. He owns a record label and collective called DIEMON, which stands for “Do It Every Day Music Or Nothing.”

    Speaking with Andreea Gleeson (TuneCore’s former CEO) during a keynote at SXSW in Austin last week (March 18), the American rapper, singer, songwriter, producer and best-selling author said: “We were doing it every day. Literally every day. That was the habit. Making music every day.”

    Gleeson described Russ as the definition of a multi-hyphenate —  an artist, songwriter and producer. Addressing the artist, Gleeson said, “You have been charting with the music that you’ve been releasing and often are the only independent artist sitting on the top charts like the Billboard 200 in a sea of major record label releases, which is just so incredible.”

    Gleeson said artists today are building their own careers and owning their music. “So many times when you would sign those record label deals, you would give up ownership, or for a period of time, etc… Artists 1774714543 are building a much different, deeper understanding of both the creative and business side, which is kind of making them a little bit dangerous, because when they sit across tables to negotiate, they know much more.”

    “Artists 1774714543 are building a much different, deeper understanding of both the creative and business side, which is kind of making them a little bit dangerous, because when they sit across tables to negotiate, they know much more.”

    Andreea Gleeson

    About two months ago, Russ became the second-highest RIAA-certified independent rapper in history. His most recent album, W!LD, debuted at No. 10 on the Billboard 200, No. 1 on the indie chart, No. 2 in rap, and No. 3 in overall album sales, according to Gleeson. All copies were signed by Russ himself, sold directly through his own website, highlighting the importance of direct relationships with fans.

    “Even signing the vinyl — and I signed myself, all 18,000 or 20,000, whatever it was. And you know, it’s exhausting. It’s so much physical work. But it’s like every single one of those is a real person. So that was the reminder that was just really unjading for me, because I’m sitting there signing all these vinyl.

    “There’s real people behind these comments, behind these DMs, behind these numbers. And signing the vinyl with my hand and doing the in-person activations — it just makes it real.”

    Russ explained that going direct-to-fan isn’t just about having a shop on an artist’s website, but also about years of genuinely talking to fans — Discord sessions, Instagram group chats, FaceTimes, responding to DMs.

    “The ability to even sell direct to fans is because there is a direct-to-fan relationship there. I’m not just an artist posting on Instagram and hoping that people buy my stuff. You have to really create that bond.

    Russ

    “The ability to even sell direct to fans is because there is a direct-to-fan relationship there. I’m not just an artist posting on Instagram and hoping that people buy my stuff. You have to really create that bond. You have to create that relationship. And it’s something that I care about deeply because fans are the infrastructure of your entire career.”

    The artist also shared how consistency in building a catalog helps propel an artist. “I think success at the end looks really dramatic, but it’s really just consistency — staying alive long enough to compound… It’s 15 years of putting out songs and building a catalog that, again, if you stay consistent long enough, it’ll compound, you know.”

    By June 2015, Russ said he had 200 songs in his catalog, 11 albums and about 30 or 40 weeks into weekly releases. “So I had 200 songs out. Again, when the music is great and you’re consistent enough, your fan base sniffs you out.” Russ said this was pre-algorithm when fan bases “sniff out” artists.

    “And once people found my music, they were able to become diehard fans because there was enough music to stay.” In 2017, Russ said he dropped a song every week on SoundCloud for 2.5 years straight.

    Russ compared his method of putting out music to the Netflix model: “imagine your artistry and your career is a TV show, and each album or each year is a season, and you’re just adding episodes to the season.” He says he gave people “the ability to not have two favorite songs from me, but 50.”

    “Out of 400 songs, if you only like 40 of them, you only like 10%, that’s still 40 songs. It’s a ton of music.”

    All of the 200 songs he had by June 2015 were owned by him, all distributed through TuneCore, and none of it was tied to a label deal. Russ has so far amassed 24 billion streams and sold more than 35 million singles to date.

    “Giving up ownership of what we were doing wasn’t even on the table.”

    Russ

    “Giving up ownership of what we were doing wasn’t even on the table,” Russ said of his label DIEMON.

    As MBW previously reported, in June 2020, Russ published TuneCore income statements to Instagram “for inspirational purposes” showing his monthly earnings from his music between 2013 and 2017.

    His revenues are reported in those statements as $48.66 for the month of August 2013, rising to well over $100,000 on average per month from June 2016 until October 2017 when, during that month, his statement shows that he earned over $280,000.

    Russ also highlighted the need for artists to study the industry. “We were obsessed with watching everybody’s interviews. All the Breakfast Club interviews, all the Hot 97 interviews — we were just obsessed with binge-watching those. They were always on the TV. That’s how we kind of learned about Carol Lewis the booking agent, and Peter Schwarz at that time.”

    “Just studying some of the business side of things. But again, just being entrepreneurial in spirit and boss-minded.”

    The real treasure, according to Russ, is “self-mastery.” He said, “It’s a treasure that you’ll never quite grab, and it keeps you in pursuit. It keeps you motivated, focused, and in this place of internal validation.”

    “They say putting in the work always drives more results than pure talent that doesn’t put in the work. And [Russ is] the epitome of that.”

    Andreea Gleeson 

    As someone whose music career had been solitary (“It’s so isolated. I’m downstairs in my basement by myself making songs, which I love, because any artist in here knows you kind of need that environment and that safe space to just be weird on the microphone without any judgment), Russ says filming the movie Don’t Move, showed him the need for community. He then found two unknown Australian producers on TikTok and made his album W!LD with them.

    Russ hinted that he’s working on a deluxe version of the record. “I think it’s incredible. It’s so good.”

    Gleeson described Russ as “the Kobe Bryant of musicians” — “They say putting in the work always drives more results than pure talent that doesn’t put in the work. And you’re the epitome of that.”

    Music Business Worldwide



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  • Musk’s Terafab plans seen having limited impact on TSMC



    Musk’s Terafab plans seen having limited impact on TSMC

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  • The stay-at-home boyfriend is now an economic trend as more women than men go to work

    The stay-at-home boyfriend is now an economic trend as more women than men go to work



    You probably know a woman supporting an unemployed man. Maybe you’ve been that woman. What used to be an embarrassing secret has quietly become a macroeconomic data point, and the Federal Reserve has the receipts.

    As of early 2026, women held more nonfarm payroll jobs than men in the United States. This has happened twice before — briefly during the Great Recession and again just before Covid — and both times it reversed. Laura Ullrich, a labor economist at the Federal Reserve Bank of Richmond who authored a new analysis through Indeed’s Hiring Lab, says this time is structurally different.

    “It definitely doesn’t, to me, seem like the change has been driven by a recessionary period, which is what typically drives it,” she told Fortune. “This seems to be more of a long-term decline that’s led to more of a permanent shift going forward, or at least semi-permanent.”

    The gap by the numbers

    In the early 1990s, men held nearly 7 million more jobs than women. That gap gradually shrank over the last three decades, and is now gone. The trend continued over the last year.

    Over the past 12 months, jobs held by men fell by a net 142,000, while women gained 298,000. Of the 1.2 million jobs added between February 2024 and February 2026, two-thirds went to women.

    The gender gap in labor force participation rate has also narrowed. The male rate has fallen nearly 20 points since tracking began in 1948, from 86.7% to 67.2% today. The female rate jumped from 32% to 57.2% in that span.

    It’s not women entering, it’s men leaving

    This is where the narrative gets complicated — and more interesting.

    Both male and female participation rates are lower than they were in 2000. But men are falling off at a rate that dwarfs women’s decline. Right before Covid, the male labor force participation rate was 69.2%. It’s now 67.2% — a two-point drop. The female rate dropped just 0.6 points over the same period.

    “It’s fewer men entering,” Ullrich said. “Younger men today are less likely to be working than their fathers were at that same age.”

    So who’s supporting them?

    “There has been more of a transition where parents are supporting their adult children for longer,” she said. “The data do show that more young adult men live with their parents than women. The wealth transfer from older generations to younger generations is part of that story.”

    And then there are the partners. “Almost everybody you talk to will have a story” about supporting an unemployed man, Ullrich said, adding that what’s changed isn’t the dynamic itself, but the fact that it no longer carries the stigma it once did. The stay-at-home boyfriend, once a punchline, is now a statistically significant labor market phenomenon.

    A landmark paper published in the Journal of Political Economy, first circulated through the National Bureau of Economic Research, found that roughly 70% of the hours young men aren’t working are being spent on video games and recreational computer use. The economists calculated that improvements in gaming technology since 2004 alone can explain nearly half the increase in young men’s leisure hours.

    “I think that’s part of the story — the basement story,” Ullrich said.

    The opioid epidemic compounded it, hitting non-college-educated men especially hard. And critically, men largely don’t qualify for government assistance programs like SNAP or TANF without a disability, meaning when they exit the workforce, the financial burden falls on whoever is closest to them.

    The jobs that are growing and the jobs that aren’t tell you almost everything.

    Healthcare and social assistance, 78.9% female, added 1.8 million jobs between July 2023 and July 2025, accounting for more than half of all U.S. job growth during that period. But male-skewing sectors like manufacturing, tech, financial activities, and media have been stagnant or contracting.

    Women have the training for the jobs that exist. As of 2023, 87% of nursing bachelor’s students were women. In speech-language pathology, a six-figure profession, 96.4% of master’s students are female. Medical schools have been majority-female since 2019.

    “Women are the ones who have the training for these jobs,” Ullrich said. “The growth that’s happening in the economy in terms of jobs is happening in female-dominated sectors.”

    The pipeline is female, the growth sectors are female, and the jobs most protected from AI displacement — caregiving, healthcare, in-person services — are female. The jobs most exposed to AI are disproportionately held by men.

    What it means

    Economist Richard Reeves, founder of the Institute for Research on Boys and Men, has argued that the same cultural efforts that moved women into STEM need to be applied in reverse, steering men toward healthcare, education, and psychology.

    So far, there’s little sign of that happening. The educational programs feeding the growth sectors are, if anything, becoming more female over time.

    As Ullrich put it, the trend in the labor force participation gap shows no post-recession bounce, no cyclical correction, no historical parallel to prior reversals. It is, structurally, a one-way door.

    “If you look at that overall downward trend,” she said, “it’s just been on a downward trajectory.”

    The stay-at-home boyfriend is no longer just a TikTok trend. He’s a Federal Reserve data point. And the woman paying his rent is, increasingly, the American economy.

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  • Thai Exports Surge by 9.9% in February, Yet Full-Year Forecast Grows Uncertain

    Thai Exports Surge by 9.9% in February, Yet Full-Year Forecast Grows Uncertain


    In February 2026, Thai exports grew by 9.9% year-on-year, reaching US$29.43 billion (912.56 billion baht). This marked the 20th consecutive month of expansion, primarily driven by the electronics and electrical appliances sectors, which have benefited from the global AI boom. 

    Despite this growth and a strong performance in the first two months of the year, the Trade Policy and Strategy Office (TPSO) has issued a cautious outlook, warning that full-year exports could contract by as much as 3% due to rising freight costs, volatile energy prices, and a strengthening baht.

    Key Takeaways

    • Top Performers:
      • Industrial: Computers and components (+49.8%), telephone equipment (+217.7%), and radio/TV transmitters (+251.5%).
      • Agricultural/Food: Fresh fruits (+62.3%), processed chicken (+94%), and fats/oils (+271.1%).
    • Major Markets: Shipments to the US surged by 40.5%, while exports to the EU (+20.6%) and ASEAN (+17.8%) also saw double-digit growth.
    • Trade Balance: Despite export growth, imports rose sharply by 31.8% to US$32.27 billion, resulting in a US$2.83 billion trade deficit for the month. 
    • Industrial product exports rose by 13.3%, led by significant surges in telephone equipment (217.7%), computer components (49.8%), and radio/television transmitters (251.5%).
    • The agricultural and agro-industrial sectors saw a 5.7% decline, marking a second month of contraction, though high-potential items like processed chicken and fresh fruits recorded substantial gains.
    • Key growth drivers include the global shift toward AI technology and supply-chain diversification, while pressure factors include high freight costs and price competition in agricultural commodities like rice.

    Export growth was strongest in major markets such as the United States (40.5%) and the European Union (20.6%), while shipments to Russia and the CLMV region (Cambodia, Laos, Myanmar, and Vietnam) declined.

    Looking forward, the outlook for the remainder of 2026 remains cautious. The Trade Policy and Strategy Office (TPSO) warns of potential contractions due to rising freight costs, energy price volatility, and currency appreciation. The full-year forecast ranges from a best-case growth of 1.1% to a worst-case contraction of 3%, depending on how these global economic pressures evolve.

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  • Is Abu Dhabi Airport Open? Zayed International Airport Open but Operating at Reduced Capacity

    Is Abu Dhabi Airport Open? Zayed International Airport Open but Operating at Reduced Capacity


    ABU DHABI, United Arab Emirates — Zayed International Airport, the primary gateway to Abu Dhabi and home base for Etihad Airways, remains open as of Saturday, March 28, 2026, but is functioning with significantly limited operations due to lingering effects of regional geopolitical tensions and recent rainy weather that has compounded flight delays across the UAE.

    Is Abu Dhabi Airport Open? Zayed International Airport Resumes Limited
    Is Abu Dhabi Airport Open? Zayed International Airport Resumes Limited Operations Amid Regional Tensions

    Travelers checking “Is Abu Dhabi Airport open right now?” should note that while the airport has resumed partial commercial services following earlier airspace closures tied to Middle East conflicts, passengers are strongly advised not to head to the terminals without a confirmed ticket and direct notification from their airline. Access remains restricted to confirmed travelers only, according to the official airport website.

    The airport, formerly known as Abu Dhabi International Airport and now branded as Zayed International Airport (code: AUH), has been gradually rebuilding its schedule since early March. Full suspensions occurred in late February and early March 2026 amid airspace restrictions linked to escalating tensions involving Iran, the United States and Israel. Limited exceptional, priority and repatriation flights began resuming around March 2, with Etihad Airways restarting select commercial services by March 6.

    As of late March, the airport is handling flights at roughly 40% to 70% of normal capacity, depending on the day and airline, according to multiple travel advisories and reports. Etihad, the flag carrier, is operating approximately 60-70 daily departures on key routes, focusing on major hubs such as London Heathrow, Paris, Mumbai, Bangkok and New York JFK where possible. However, many international carriers have reduced frequencies, rerouted services or suspended operations entirely until later in 2026. British Airways, for instance, has halted Abu Dhabi services through late October or beyond, while others like Lufthansa and several Indian carriers have implemented temporary cuts or full refunds for affected bookings.

    Recent rainy weather on March 26 further disrupted recovery efforts in Abu Dhabi and neighboring Dubai, leading to additional delays and cancellations even as limited schedules resumed. Airports across the UAE, including Zayed International, shifted to carefully controlled operations with significant delays reported on both departures and arrivals. Smaller UAE airports have shown partial recovery but remain unstable, prompting broad advisories for travelers to verify details directly with airlines.

    Live flight tracking platforms such as Flightradar24 and the airport’s own departures board show a mix of activity. Early Saturday morning departures included Etihad flights to Paris (EY031) that operated, while others like a service to Amsterdam were listed as cancelled in sample data. Arrivals and departures reflect a thinned-out schedule, with many flights still subject to last-minute changes. The official Zayed International Airport website prominently displays a notice: “Passengers are advised not to travel to the airport unless they hold a confirmed ticket and have been explicitly advised by their airline to do so.”

    Etihad Airways has emphasized in updates that its current flight program is fluid. The airline recommends checking etihad.com for the latest status, ensuring contact details are current for rebooking notifications, and avoiding the airport without explicit confirmation. Some repositioning, cargo and humanitarian flights continue under strict safety approvals coordinated with UAE authorities.

    The disruptions trace back to airspace closures starting around Feb. 28, 2026, following reported military actions in the region. Over 4,000 daily flights were affected across Gulf hubs at the peak, stranding hundreds of thousands of passengers globally. Dubai International (DXB) and Abu Dhabi’s Zayed faced full or near-full halts initially, with phased reopenings prioritizing safety corridors. By mid-March, operations had improved to low-to-moderate disruption levels on remaining flights, though capacity constraints persist due to ongoing security considerations and fragile recovery.

    Abu Dhabi Airports, the operator, confirmed partial resumption on March 2 in coordination with authorities and partners. The airport, one of the Middle East’s fastest-growing hubs with its modern Terminal A, has focused resources on essential connectivity while maintaining heightened security protocols. Prayer times and passenger services like the Airport Express bus to Dubai and Salam Meet & Assist remain available for those cleared to travel.

    For passengers with existing bookings, options include rebooking on available limited services, seeking refunds where suspensions apply, or exploring alternative routings through less-affected airports. Travel experts recommend monitoring official sources closely: the Zayed International Airport website (zayedinternationalairport.ae), Etihad’s flight status page, and global trackers like FlightAware or Skyscanner. Apps from the airport and airline provide real-time updates on gates, immigration and baggage.

    The situation highlights the vulnerability of Gulf aviation to regional events. The UAE, a major transit and tourism hub, has seen its connectivity impacted, affecting business travelers, tourists and expatriates. Visit Abu Dhabi tourism authorities note that while the airport is operational, visitors should confirm entry requirements and flight viability before planning trips. Broader Middle East airspace advisories continue to influence long-haul carriers from Europe, Asia and North America.

    Looking ahead, full normalization depends on stabilizing regional airspace and weather patterns. Aviation analysts expect a gradual ramp-up in April, but caution that schedules could shift rapidly. Some routes, particularly to certain European and Asian cities, may take months to restore completely.

    Travelers affected by cancellations should contact their airlines promptly for reprotection or refunds. Insurance holders are urged to review policies for disruption coverage. Those transiting through Abu Dhabi should build in extra buffer time given potential delays even on operating flights.

    Zayed International Airport continues to prioritize safety and passenger well-being. With its state-of-the-art facilities, including advanced check-in and duty-free options when operational, the airport aims to return to its status as a premium hub once conditions allow.

    In summary, yes — Abu Dhabi’s Zayed International Airport is open right now, but with constrained services, ongoing advisories and a strong recommendation to verify every detail before travel. The evolving nature of both geopolitical and weather-related factors means constant monitoring is essential for anyone planning flights to, from or through AUH in the coming days and weeks.

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  • Long-term solutions needed to reduce dependence on fossil fuels in PHL – Oxfam

    Long-term solutions needed to reduce dependence on fossil fuels in PHL – Oxfam



    Long-term solutions needed to reduce dependence on fossil fuels in PHL – Oxfam

    The Philippine government must pursue long-term solutions to reduce the country’s dependence on fossil fuels, as global oil price surges continue to weigh on Filipino consumers, according to Oxfam Pilipinas on Friday.
    The call comes after Philippine President Ferdinand R. Marcos Jr. declared a state of national energy emergency last Tuesday in response to rising oil prices linked to escalating tensions in the Middle East.

    “Oxfam Pilipinas believes that while the executive order provides a mandate to respond to disruptions in the global energy supply and its impacts on the domestic economy, the government must think of long-term solutions to transition away from fossil fuel dependence and accelerate the renewable energy (RE) transition,” Maria Rosario “Lot” Felizco, executive director of Oxfam Pilipinas said in a statment.

    The group also urged the government to address the country’s reliance on imported, privately owned oil, warning that consumers continue to bear the brunt of price volatility.

    It also highlighted the need to maximize indigenous RE sources and modernize the power grid as part of a long-term strategy.

    “We are facing a polycrisis of increased inequality, climate impacts, and an energy crisis. The national energy emergency must ensure energy solutions are 1.5°C-aligned and provide safeguards for Filipinos now and in the future,” Ms. Felizco said.

    Oxfam Pilipinas also called for an immediate end to the ongoing Middle East conflict, citing its catastrophic impact on civilians, including Palestinians in Gaza.

    Meanwhile, the Department of Energy (DoE) said another round of price adjustments will take effect for the week of March 24 to 30, with gasoline products (RON 97, 95, and 91) increasing by P8.00 to P12.00 per liter, diesel and diesel plus by P15.00 to P18.00 per liter, and kerosene by P12.00 to P22.00 per liter.

    Following these adjustments, the estimated pump price range for Metro Manila and other highly urbanized areas will be: P87.69 to P112.40 per liter for RON 97, P83.10 to P109.78 for RON 95, P82.60 to P102.50 for RON 91, P107.00 to P134.30 for diesel, P114.99 to P144.20 for diesel plus, and P111.99 to P165.79 for kerosene. — Edg Adrian A. Eva

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  • JPMorgan’s Institutional Clients Are Asking About Climate Tipping Points


    The risk of crossing climate tipping points — a term that spans melting ice sheets, thawing permafrost, disruption of monsoons, coral bleaching, boreal forest loss and the degeneration of the Amazon rainforest — increases as the world warms. In October, researchers at the University of Exeter said the world is facing a “new reality” after having reached the first tipping point, namely the “widespread dieback” of warm-water coral reefs. 

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  • Union Bank Q3 Profit Rises 9.7% To Rs 5,073 Crore On Lower Provisions



    Its deposit growth came at 3.36%, also much lower than the banking system’s growth. The non-interest income for the reporting quarter increased 2.82% to Rs 4,541 crore.

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