Square gains 10% as the payments company rides bitcoin’s record-breaking rise | Currency News | Financial and Business News

Andreas Milano
In-store transactions grew by 1% year-over-year among Square customers.

Shares of payments company Square surged 10% on Monday after Tesla announced it is investing $1.5 billion into Bitcoin. The electric carmaker also said it may begin accepting the currency as payment, according to a regulatory filing. 

In October 2020, Square announced it had purchased 4,709 bitcoins for an aggregate price of $50 million. The San Francisco-based company Square paid an average price of $10,617 for each bitcoin.

Square launched bitcoin trading in 2018 with Cash App, a platform that enables the buying and selling of bitcoin. Cash App

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Monte Carlo raises $25 million for AI that monitors data reliability

Andreas Milano

San Francisco-based data reliability startup Monte Carlo today announced that it raised $25 million, bringing the company’s total capital raised to date to over $40 million. Monte Carlo says the proceeds will allow it to foster its community of users and further develop its data and analytics products as it looks to expand the size of its workforce.

It’s estimated that the average company spends upwards of $15 million annually tackling periods of time where data is missing, broken, or otherwise inaccurate. Around 93% of organizations who lose servers for 10 days or more during a disaster file for bankruptcy

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Uber and Lyft’s long wait for a rebound in demand signals slow economic recovery

Andreas Milano

By Tina Bellon and Akanksha Rana

(Reuters) – With the pandemic still suppressing ridesharing demand, Wall Street is keen to know how soon Uber Technologies Inc and Lyft Inc expect a rebound and how they plan to keep costs under control until then.

Investors are also hoping for more insight on Uber’s successful food delivery operations and Lyft’s efforts to set up a delivery business when the companies report fourth-quarter results this week.

Analysts generally do not expect ride-hail demand to rebound before the second half of 2021, when more people have been vaccinated and offices and businesses have reopened,

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Elon Musk’s Bitcoin Investment Supports Energy Waste, Some Critics Say

Andreas Milano

Seemingly everything Elon Musk does makes headlines, and the release of his company’s annual business report on Monday was no exception. Among other findings in the report was the significant reveal that Tesla purchased $1.5 billion worth of Bitcoin. While this information has caused stocks for the cryptocurrency to soar, it has also raised the ire of people concerned with energy conservation, who are pointing to studies that show the tremendous amount of energy that’s used by Bitcoin.

A visual representation of the digital cryptocurrency, Bitcoin.
Dan Kitwood/Getty

Soon after news broke of the report, which also states that Tesla

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Instagram Search For “Dog” Surfaces Chinese Takeout Box

Andreas Milano

Sopa Images / SOPA Images/LightRocket via Getty

Searches for the word “dog” on Instagram’s stories feature are showing an emoji for a takeout box associated with Chinese American food, angering people who are concerned the app is reinforcing racist stereotypes.

An Instagram employee noticed the issue over the weekend, according to a post on an internal Facebook message board, while users of the popular photo-sharing app have complained about the problem since 2019. Instagram is owned and operated by Facebook.

“How are the emoji’s being recommended in this and can we remove this so this doesn’t perpetuate Asian racial stereotypes?”

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The iPhone 12 Mini May Not Be Long for This World

Andreas Milano
Illustration for article titled The iPhone 12 Mini May Not Be Long for This World

Photo: Caitlin McGarry/Gizmodo

Folks with tiny hands have been clamoring for a smaller smartphone for years, and in 2020, Apple finally delivered with the iPhone 12 Mini. Except it looks like Apple might stop manufacturing its littlest phone due to less-than-stellar sales.

Supply chain analyst William Yang of JP Morgan has reportedly cut production expectations for the iPhone 12 Mini by 11 million units, AppleInsider reported. Yang went on to say that Apple might even stop production entirely by the second quarter of this year. Yang also revised down his expectations for the standard iPhone 12 by 9 million

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