Welcome to the Unicorn Kingdom, says Sunak, in fantasy pitch to business

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Planet Business: Dismal UK food bank statistics, the demise of Bed Bath & Beyond and Spotify’s ongoing pursuit of a profit

The name might well stick, if only because unicorns are famous for being purely imaginary – a bit like, for instance, the benefits of Brexit.Record number of food parcels distributed in Northern Ireland between April 2022 and March 2023 by the Trussell Trust, the UK’s largest food bank network.Increase in the number of food parcels given out by the trust across the UK in this period compared to the year before.

1. User hit: Spotify’s monthly active user total has risen to 515 million, beating both its own and analysts’ forecasts, with the number of premium subscribers increasing 15 per cent to 210 million. 3. Revenue miss: Because a lot of subscribers join Spotify on free three-month trials – which tend to be pushed heavily in the run-up to Christmas – the company “doesn’t get revenue right away”, said chief executive, Daniel Ek. As the advertising market was also “choppy”, its €3.04 billion revenue total in the first quarter came in lower than analysts’ estimates.

 

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