EIB gets an extra €30bn for infrastructure projects
"Funds will be directed primarily towards into new member states. The European Investment Bank (EIB) will spend an extra €30 billion on projects over the next two years following an agreement at last week's meeting of EU finance minister to increase the bank's capital.
The bank's reserves were increased from €67bn to €232bn to allow continued funding of current projects and financing of future projects. The immediate effect will be extra money during 2009-10 for the bank's main project areas." [EuropeanVoice]
US Sues Sony Music Over Children's Online Privacy
"Sony Music Entertainment was sued on Wednesday by the U.S. government, which claimed the music company violated federal rules aimed at protecting the online privacy of children. Sony Music improperly accepted registrations on its music Web sites from users who were under 13, without obtaining consent from their parents, according to the lawsuit filed in U.S. District Court in Manhattan." [BillBoard]
Canadian Copyright Board Raises Tax
"The Canadian Copyright Board has announced it will raise the tax on blank compact discs to 29¢ (US$0.23), a 38% increase. Previously the tariff on blank recordable CDs was 21¢ (US$0.1679).
The tariff is collected on behalf of the Canadian Private Copying Collective, an organization formed in 1999 and created to collect money that compensates musicians and stakeholders for having their music copied by individuals. The decision leaves the rate for audio cassettes at 24¢
The board says there were two reasons for the increase.
“First, increased mechanical licence royalties, coupled with the elimination of container deductions and free goods allowances in the calculation of the performers' and makers' remuneration, greatly add to our estimation of the total remuneration per prerecorded CD," the board said in a report. "Second, the use of compression technology raises from 15 to 18.4 the average number of tracks copied on a blank CD used to copy music."" [BillBoard]
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