Apple appears set to abandon its plans to offer the rebranded Beats streaming music service for less than the $9.99/month charged by Spotify, Rdio and Google Play Music. Billboard reports that Apple’s attempts to use its clout to negotiate better deals with record labels have been unsuccessful.

Negotiations for Apple’s upcoming subscription service are evidence labels are standing firm on pricing. Industry sources say Apple has backed down from its effort to lower monthly pricing for its subscription service to $7.99 from $9.99.

The report says that the deals offered by the labels would have left Apple losing money if it had gone ahead with its plan to offer the service for the rumored $7.99/month …  expand full story