Square wants to acquire Australian fintech company Afterpay for $ 29 billion as it seeks to expand its market share in installment loans. The business is mainly affected by the trend "Buy now, pay later." Square customers are not conservative, on the contrary, and they avoid traditional credit, especially younger buyers. The agreement should not be concluded until the first quarter of 2022. Cash App profit grown 94%, and the seller jumped 85% if we compared the previous year.
The world’s top grower of coffee is Brazil and now the industry has a problem. The weather changed and frosts hit last week, hitting a relatively large area of coffee plantations. Damage is huge, and Arabica coffee futures are hitting fresh highs. This year's coffee harvest will be worse in Brazil. Prices for the high-end beans usually bought by Starbucks Corp. have surged more than 30% in a week. The coffee market could be estimated to lose about 330 to 540 thousand tons of coffee.
As the industry of producing plant-based products growing very fast, also the reachest man of planet is good news for firm NotCo. Jeff Bezos backed this food tech pioneer and said on Monday that the latest funding will be raised to $235 million. On the other side, this also includes athletes Lewis Hamilton and Roger Federer. The value of the food company grows at $1.5 billion.
In Asia, there has been a problem with the spread of sexual content that affects children. Internet regulators in China have fined technology companies, including Tencent Holdings and Alibaba Group Holding, for publishing such a content. E-commerce platforms are a threat, where retailers use suggestive photos of children's models, gifs and videos that abuse minors to sell products.