Square has agreed to buy a majority stake in Tidal, the streaming music service led by rapper Jay-Z, as part of an effort to expand the company’s suite of financial tools to musicians and emerging artists. From a report: Square will pay $297 million in a mix of cash and stock to become Tidal’s “significant majority” owner, though Jay-Z and Tidal’s…
Tag: pay
Arizona Advances Bill Forcing Apple and Google To Allow Fortnite-style Alternative Payment Options
The Arizona House of Representatives just passed landmark app store legislation in a 31-29 vote on Wednesday that could have far-reaching consequences for Apple and Google and their respective mobile operating systems. From a report: The legislation, a sweeping amendment to Arizona’s existing HB2005 [PDF], prevents app store operators from forcing a developer based in the state to use a preferred…
Microsoft’s Dream of Decentralized IDs Enters the Real World
For years, tech companies have touted blockchain technology as a means to develop identity systems that are secure and decentralized. The goal is to build a platform that could store information about official data without holding the actual documents or details themselves. Instead of just storing a scan of your birth certificate, for example, a decentralized ID platform might store a…
Popular LA Restaurant Closes After High-Tech ‘Dine and Dash’ Scheme
quonset writes: “The Korean Fusion Cafe ‘Spoon by H’ had the ingredients to become an L.A. success story but is the epitome of a small business, with owner and chef Yoonjin Hwang working 15-hour days to run the restaurant with her mother and brother,” reports CBS News. “‘We have no staff. We have no cooks. I have to do everything by…
China Charges Ahead With a National Digital Currency
The electronic Chinese yuan is now being tested in cities such as Shenzhen, Shanghai and Beijing. No other major power is as far along with a homegrown digital currency. From a report: Annabelle Huang recently won a government lottery to try China’s latest economics experiment: a national digital currency. After joining the lottery through the social media app WeChat, Ms. Huang,…
Banks in Germany Tell Customers To Take Deposits Elsewhere
Interest rates have been negative in Europe for years. But it took the flood of savings unleashed in the pandemic for banks finally to charge depositors in earnest. From a report: Germany’s biggest lenders, Deutsche Bank and Commerzbank, have told new customers since last year to pay a 0.5% annual rate to keep large sums of money with them. The banks…
FCC Approves $50 Monthly Internet Subsidies for Low-Income Households During Pandemic
The Federal Communications Commission has approved final rules for a new broadband subsidy program that could help struggling families pay for internet service during the pandemic. From a report: The agency’s $3.2 billion Emergency Broadband Benefit Program provides eligible low-income households with up to a $50 per month credit on their internet bills through their provider until the end of the…
Why an Animated Flying Cat With a Pop-Tart Body Sold for Almost $600,000
In the 10 years since Chris Torres created Nyan Cat, an animated flying cat with a Pop-Tart body leaving a rainbow trail, the meme has been viewed and shared across the web hundreds of millions of times. On Thursday, he put a one-of-a-kind version of it up for sale on Foundation, a website for buying and selling digital goods. In the…
Australia Passes Law To Make Google, Facebook Pay for News
Australia’s law forcing Google and Facebook to pay for news is ready to take effect, though the laws’ architect said it will take time for the digital giants to strike media deals. From a report: The Parliament on Thursday passed the final amendments to the so-called News Media Bargaining Code agreed between Treasurer Josh Frydenberg and Facebook chief executive Mark Zuckerberg…
CD Projekt Ransomware Hack Severely Disrupts Work on Cyberpunk Updates
CD Projekt SA said Wednesday it will delay a promised update to the much-criticized role-playing game Cyberpunk 2077, pinning the blame for its slow progress on a recent security breach. From a report: What the Polish publisher didn’t say is that most of its employees have been locked out of their workstations for the past two weeks, according to people familiar…