Spotify has reported an increase in paid music subscribers, as the number of people using the Premium service jumped to 130 million in the first quarter of this year.

The streaming service, which faces competition from the likes of Apple and Amazon, has managed to weather a slowdown in ad sales due to the spread of the coronavirus.

• US GDP falls 4.8% in worst economic decline since 2008
• The drinks industry has a seven-point wishlist for the government to ensure it weathers COVID-19
• British bank Barclays warns the days of offices crammed with staff are over
• More than 10 years after its collapse, former shareholders in Anglo Irish Bank are not entitled to compensation

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