Latest news with #JackDorsey
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Business Standard
an hour ago
- Business
- Business Standard
Jack Dorsey's Square enables bitcoin payments for merchants; details here
The feature is integrated directly into Square's payment infrastructure, allowing merchants to receive Bitcoin payments alongside traditional options like credit cards and digital wallets SI Reporter New Delhi Jack Dorsey's financial services platform, Square, has officially rolled out support for Bitcoin (BTC) payments across its merchant network. The company said that businesses using Square's point-of-sale systems can now accept Bitcoin as a form of payment. The feature is integrated directly into Square's payment infrastructure, allowing merchants to receive Bitcoin payments alongside traditional options like credit cards and digital wallets. The rollout marks a notable expansion of Square's cryptocurrency offerings, aligning with Dorsey's long-standing support for Bitcoin. However, Square has not disclosed how many merchants have opted in to accept Bitcoin so far. square sellers on bitcoin starting today — jack (@jack) July 22, 2025 Bitcoin payments on Square will be processed using the Lightning Network, which enables faster and lower-cost transactions compared to traditional Bitcoin transfers. Merchants will also have the option to automatically convert Bitcoin into fiat currency to reduce exposure to price volatility. Notably, the company is currently testing this new Bitcoin option with select businesses and plans to roll it out to more sellers by 2026, all powered by the Lightning Network to enable low-fee, near-instant transactions. Earlier, in May this year, Square announced that its parent company, Block, Inc., planned to integrate Bitcoin payments into Square's systems. "By leveraging the Lightning Network, the Square Point of Sale app will allow merchants to accept Bitcoin payments directly through their Square hardware for near-instantaneous, low-cost transactions," the company said at the time. About Square Co-founded by Jack Dorsey, Square is a US-based financial technology company that helps businesses accept payments and manage daily operations. It began with a mobile card reader that allowed small merchants to process credit card payments via smartphones. Since then, Square has evolved into a comprehensive platform offering payment solutions, point-of-sale systems, and tools for payroll, inventory, and online ordering. The company supports both in-person and digital commerce across a variety of industries. Square is a subsidiary of Block, Inc., which also owns Cash App and other fintech ventures.
Bloomberg
a day ago
- Business
- Bloomberg
Stock Movers: Block, Domino's Pizza, Invesco
On this edition of Stock Movers: - Block (XYZ) shares surged on the new it will join the S&P 500. Jack Dorsey's fintech firm will replace Hess in the benchmark. The changes will go into effect prior to the start of trading on July 23, according to a press release from S&P Dow Jones Indices Friday. Block, formerly known as Square, has evolved from a payments processor into a broader fintech player, offering peer-to-peer transfers, merchant services, and increasingly, consumer lending. Earlier this year, Block's industrial bank subsidiary Square Financial Services Inc. received approval from the US Federal Deposit Insurance Corp. to begin offering consumer loans directly through the Cash App Borrow product. The company is also integrating Bitcoin payment capabilities into its Square terminals, reflecting Dorsey's long-standing advocacy for Bitcoin. He remains an influential voice in the digital-asset world, recently sharing open-source coding projects on X. - Domino's Pizza (DPZ) shares are down. Earlier today, the restaurant operator reported second-quarter comparable sales growth that topped Wall Street expectations. Despite that, after the conference call, analysts weighed in on what might be pressuring the stock. 'We think DPZ still has a strong year ahead of it and numbers seem beatable,' while stock reaction may be a function of 'positioning, expectations, and broader QSR/pizza concerns,' Morgan Stanley's Brian Harbour writes. - Invesco (IVZ) shares are up after after TD Cowen analyst Bill Katz raised the recommendation on the investment management company to buy from hold, calling its move to unlock fee revenue from the QQQ ETF a 'game changing event.' The company is also set to report second quarter earnings tomorrow.
Los Angeles Times
a day ago
- Business
- Los Angeles Times
Stocks set more records as Verizon begins a big week for profit reports with a beat
U.S. stock indexes inched their way to more records on Monday to kick off a week full of profit updates from big U.S. companies. The S&P 500 rose 0.1% and squeaked past its prior all-time high set on Thursday. The Dow Jones Industrial Average edged down by 19 points, or less than 0.1%, and the Nasdaq composite added 0.4% to its own record. Verizon Communications helped lead the way and rose 4%. The telecom giant reported a stronger profit for the latest quarter than analysts expected, along with higher revenue than forecast. Following the better-than-expected performance, Verizon raised its forecasts for profit and other financial measures for the full year. That helped offset a 5.4% drop for Sarepta Therapeutics, which continued to fall after the Food and Drug Administration said on Friday that it asked the company to voluntarily stop all shipments of Elevidys, its gene therapy for Duchenne muscular dystrophy, due to safety concerns. Block, Jack Dorsey's company behind Square, Cash App and other tech brands climbed 7.6% in its first trading after learning it will join the widely followed and imitated S&P 500 index. It will take the place of Hess, which Chevron bought, before trading begins on Wednesday. Cleveland-Cliffs rallied 12.4% after the steel producer reported a smaller loss for the spring than analysts expected. It shipped a record 4.3 million net tons of steel during the quarter, and CEO Lourenco Goncalves said the company has begun to see 'the positive impact that tariffs have on domestic manufacturing' and other things. It's a major supplier to the auto industry, and President Donald Trump's tariffs steer companies hoping to sell cars in the United States toward steel made in the country. Other U.S. companies, though, are navigating the downsides and complications of tariffs, which raise prices on all kinds of things imported to the United States. That includes General Motors, which will report its latest profit results later this week, along with such market heavyweights as Alphabet, Coca-Cola and Tesla. Many of Trump's stiff proposed tariffs are currently on pause after Trump extended the deadline for talks with other countries in order to give more time to reach potential trade deals that could lower the tax rates. The next big deadline, at least for now, is Aug. 1. It's still early days in this earnings reporting season, but most big U.S. companies have been topping analysts' expectations, as is usually the case. Some encouraging undertones may already be emerging. An upward inflection in demand for travel that United Airlines said it's seen recently, combined with better-than-expected data on U.S. retail sales, may indicate that U.S. consumers remain in decent health, Bank of America strategist Savita Subramanian said in a BofA Global Research report. That could offer a strong source of support for the economy. Companies will need to keep delivering solid profit growth to tamp down criticism that the U.S. stock market may be looking expensive again after prices reached records despite potential worries about tariffs and the economy. All told, the S&P 500 rose 8.81 points to 6,305.60. The Dow Jones Industrial Average slipped 19.12 to 44,323.07, and the Nasdaq composite rose 78.52 to 20,974.17. In the bond market, Treasury yields eased. The yield on the 10-year Treasury fell to 4.38% from 4.44% late Friday. In stock markets abroad, indexes were mixed in Europe after finishing modestly higher in much of Asia. Markets were closed for a holiday in Japan, where the ruling Liberal Democrats lost their coalition majorities in both houses of parliament for the first time since 1955 following Sunday's upper house election and the loss of their lower house majority in October. A grim Prime Minister Shigeru Ishiba has vowed to stay on after the drubbing by voters frustrated over rising prices and political instability. Analysts said they expect his weakened government to crank up spending, adding to Japan's huge debt burden. Choe writes for the Associated Press.
Sydney Morning Herald
2 days ago
- Automotive
- Sydney Morning Herald
ASX set to rise as Wall Street advances
US stocks are rising toward more records on Monday ahead of a week full of profit updates from big US companies, which Wall Street expects to keep growing despite pressure from President Donald Trump's tariffs. The S&P 500 was 0.6 per cent higher in afternoon trading and above its all-time high set on Thursday. The Dow Jones was up 217 points, or 0.5 per cent, in mid-afternoon trade, and the Nasdaq composite was adding 0.7 per cent to its own record. The Australian sharemarket is set to rise, with futures at 4.51am AEST pointing to a gain of 24 points, or 0.3 per cent, at the open. The ASX lost 1 per cent on Monday. The Australian dollar is stronger. It was 0.3 per cent higher at 65.27 US cents at 5.07am. On Wall Street, Verizon Communications helped lead the way and rose 4.8 per cent. The telecom reported a stronger profit for the latest quarter than analysts expected, along with higher revenue than forecast. Following the strong performance, Verizon raised its forecasts for profit and other financial measures for the full year. That helped offset a 4.2 per cent drop for Sarepta Therapeutics, which continued to fall after the Food and Drug Administration said Friday it asked the company to voluntarily stop all shipments of its gene therapy for Duchenne muscular dystrophy due to safety concerns. Block, Jack Dorsey's company behind Square, Cash App and other tech brands, jumped 8 per cent in its first trading after learning it will join the widely followed and imitated S&P 500 index. It will take the place of Hess, which Chevron bought, before trading begins on Wednesday. Loading Cleveland-Cliffs rallied 13.6 per cent after the steel producer reported a smaller loss for the spring than analysts expected. It shipped a record 4.3 million net tonnes of steel during the quarter, and CEO Lourenco Goncalves said the company has begun to see 'the positive impact that tariffs have on domestic manufacturing' and other things. It's a major supplier to the auto industry, and Trump's tariffs steer companies hoping to sell cars in the United States toward steel made in the country.
The Age
2 days ago
- Automotive
- The Age
ASX set to rise as Wall Street advances
US stocks are rising toward more records on Monday ahead of a week full of profit updates from big US companies, which Wall Street expects to keep growing despite pressure from President Donald Trump's tariffs. The S&P 500 was 0.6 per cent higher in afternoon trading and above its all-time high set on Thursday. The Dow Jones was up 217 points, or 0.5 per cent, in mid-afternoon trade, and the Nasdaq composite was adding 0.7 per cent to its own record. The Australian sharemarket is set to rise, with futures at 4.51am AEST pointing to a gain of 24 points, or 0.3 per cent, at the open. The ASX lost 1 per cent on Monday. The Australian dollar is stronger. It was 0.3 per cent higher at 65.27 US cents at 5.07am. On Wall Street, Verizon Communications helped lead the way and rose 4.8 per cent. The telecom reported a stronger profit for the latest quarter than analysts expected, along with higher revenue than forecast. Following the strong performance, Verizon raised its forecasts for profit and other financial measures for the full year. That helped offset a 4.2 per cent drop for Sarepta Therapeutics, which continued to fall after the Food and Drug Administration said Friday it asked the company to voluntarily stop all shipments of its gene therapy for Duchenne muscular dystrophy due to safety concerns. Block, Jack Dorsey's company behind Square, Cash App and other tech brands, jumped 8 per cent in its first trading after learning it will join the widely followed and imitated S&P 500 index. It will take the place of Hess, which Chevron bought, before trading begins on Wednesday. Loading Cleveland-Cliffs rallied 13.6 per cent after the steel producer reported a smaller loss for the spring than analysts expected. It shipped a record 4.3 million net tonnes of steel during the quarter, and CEO Lourenco Goncalves said the company has begun to see 'the positive impact that tariffs have on domestic manufacturing' and other things. It's a major supplier to the auto industry, and Trump's tariffs steer companies hoping to sell cars in the United States toward steel made in the country.
