Money

The future of cash could ultimately be cashless

Throughout the world, electronic and card-based payments are growing quicker than cash. The ability to pay with cash is unlikely to disappear anytime soon, but improved internet access and smartphone ownership is making it redundant for many people. App-based payment methods from Alibaba and Tencent are highly popular in China, Hong Kong, Singapore and Japan. In Italy, Spain and France, PayPal outpaced Mastercard and Visa usage for online shoppers in 2018, according to a report.

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What Facebook's Libra coin means for privacy

Facebook announced Libra in June after months of speculation and since then, it’s faced nothing but backlash and questions from regulators and the public over its plans. Libra is a cryptocurrency that is being launched by Facebook as an attempt to re-invent Bitcoin — a similar, but older type of currency. The main differences are that Libra will be much faster to confirm transactions, have lower fees and that it will be backed by multiple currencies — allowing it to maintain a stable value, whereas Bitcoin’s value can fluctuate greatly.

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Airbnb is going all-in on the war against cities

Airbnb is going all-in on the war against cities

“Read my lips, we want to pay taxes,” said Chris Lehane to the US Conference of Mayors in 2016 on behalf of Airbnb. The home-sharing service has since shouted the declaration from everywhere it can — press releases, emails and billboards, begging mayors to let the company collect millions in unpaid hotel taxes on behalf of cities.

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Sports stadiums should be funded by leagues, not cities

Sports stadiums should be funded by leagues, not cities

Cities in the United States have spent more than $4.091 billion on sports stadiums since 1997, often finding themselves paying for the majority of the construction cost — including $300 million for CenturyLink Field in Seattle, $619.6 million for the Lucas Oil Stadium and $455 for the Paul Brown Stadium in Cincinnati. The public has footed more than half the bill for 11 of the 17 stadiums to open in the time period, according to a CBS Minnesota document, which details the cost of the venues and the cost to both the public and private sector.

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For most people, $1000 would be enough to convince them to quit Facebook

For most people, $1000 would be enough to convince them to quit Facebook

There’s more than 2.27 billion monthly users of Facebook — but since the company doesn’t charge for people to use its services, it can be hard to understand how much people actually value the service. However a new study has revealed that a Facebook user would need to be paid around $1,000 to deactivate their account for a year, while students would be willing to for an average of $200.

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When it seems like things can't get worse for MoviePass, they do

Just last October, Helios and Matheson — the parent company of MoviePass, a movie subscription service that initially let users see unlimited movies for $9.95 per month — was celebrating a 52-week high stock price of $38.86. People loved the service and it was expecting to have five million subscribers by the end of 2018, hitting three million in June. The concept of MoviePass — unlimited movies at a set price each month — disrupted the movie industry, sparking the launch of AMC’s Stubs A-List, Cinemark Movie Club and Sinemia.

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US shoppers are expected to spend more than ever this holiday season, hitting $1 trillion

US shoppers are expected to spend more than ever this holiday season, hitting $1 trillion

In the US customers could spend more than $1 trillion during the holiday season, according to market research firm eMarketer, the first time retail sales have surpassed this amount.This will be a 5.8 percent increase from 2017 when consumers spent a total of 947.55 million between 1 Nov. and 31 Dec. The lowest unemployment rates since 1970, steady incomes and higher consumer confidence are being credited for this hike in spending — and because retailers won’t be passing on price increases due to Donald Trump’s tariffs until next year, this means spending will remain strong.

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The least sexy thing about Victoria's Secret is its insensitivity

The least sexy thing about Victoria's Secret is its insensitivity

The Victoria’s Secret televised runway show has been the biggest and most successful event the company has put on since it began in 1995 — with people watching it for the star-studded performances, spectacle of supermodels dressed as “angels”, or for the small intimates being strutted down the runway.However, the company is struggling under pressure from millennial-oriented brands like ThirdLove and American Eagle’s Aerie division and in July, announced that due to weak sales, it would have to extend its semi-annual sale by two weeks and offer higher discounts. It’s also closing 20 stores that are suffering from poor sales and has seen its stock drop from an all-time high of $99.41 on December 4, 2015 to an average of $30.

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Netflix is dominating the media streaming industry, as evident from its latest financials

Netflix is dominating the media streaming industry, as evident from its latest financials

During its Q3 report Netflix announced that it not only crushed, but obliterated investor’s estimates for the number of subscribers it would add this quarter, adding nearly 7 million new subscribers during the period. This number is higher than the company itself expected and brings the total number of subscribers the company has to more than 137 million, according to official documents. The company needed to beat estimates this quarter to keep Amazon Prime Video, Hulu and Disney’s highly-anticipated streaming service, which is set to launch by the end of 2019 at bay. Netflix failed to meet its Q2 subscriber estimates of 1.23 million domestically and 5.11 internationally, adding only 670,000 and 4.47 million respectively, and needed to make up for the missed targets.

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Without permission, MoviePass is signing customers up for its new plans in its latest move against its userbase

Cinema movie ticketing startup MoviePass isn’t actually dead yet, but there’s been signs for the last few months that it was fighting to stay afloat, from shutting down overnight because of a lack of funding to nuking its unlimited plan and being hit with a shareholder lawsuit over fraud. According to The Verge, the company is now sending emails to a “select test group” of customers who didn’t opt-in to the limited three movie per month plan that it forced users onto, saying that unless users opted out of the service — something they’d already done to cancel their membership — it would be reactivating their plan on a special unlimited plan and charging them $9.95 per month.

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MoviePass was down this week because it ran out of money

MoviePass was down this week because it ran out of money

Though the signs have been apparent for a while now, MoviePass has refused to admit defeat — from major stock drops and constant financial issues to a surge of new users eating away at profits — until this week when the service suddenly went dark because it ran out of money. To keep customers happy and the service running, parent company Helios and Matheson Analytics Inc. had to borrow an emergency $5 million from Hudson Bay.

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Minimum wage was never intended for people to live on

When a government tells businesses how much they must pay employees, it runs the risk of decreasing the amount of positions available or eliminating them altogether. Most businesses are comfortable with paying their employees a reasonable and accessible wage, but when the minimum gets hiked up, they tend to look at automating aspects of the workplace to eliminate human employees.

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