Cards for Kids: Pocket change once used to buy a slice of pizza or a new toy is now being replaced with pre-loaded debit cards for children across the UK, according to The Guardian. RoosterMoney, an app to manage pre-paid debit cards for children, is giving parents the opportunity to more closely control and encourage their children’s spending habits. But as fintechs like this one further the move to a cashless society, do we risk losing the tangibility that supports fiscal responsibility?
Google’s Anti-Trust Probe: As Google continues to climb to the top of the most powerful companies in the world, the Department of Justice has three words for the tech giant: not so fast. According to The Wall Street Journal, the DoJ opened an anti-trust investigation into Google and will attempt to implement regulations on how the search engine does business.
“Google looks a lot like a super monopoly like AT&T did in the early 1970s,” Brian O’Kelley, the founder and former CEO of AppNexus, a rival ad-tech company purchased last year by AT&T Inc. told the WSJ. “Search, video sharing, ad serving, analytics—almost every single part of the internet is touched by Google.”
Flack for Slack: Slack CEO Stewart Butterfield has been notoriously quiet on Twitter and otherwise for the last year. This fact alone isn’t particularly noteworthy, but the head of the company, valued at $7.1 billion, was once known for shooting his mouth off at Robert De Niro or taking out a full-page advertisement just to taunt Microsoft, according to the New York Times. Why so quiet? Slack is preparing for its IPO on June 20, and in the light of Elon Musk and Mark Zuckerberg’s missteps, has decided to play it safe.
Netflix’s Price Hike: Netflix’s decision to raise prices by 20 percent in the UK is the latest sign of financial troubles for the company, writes The Guardian. The mounting pressure to perform stems largely from the launch of Disney +, which includes Marvel’s superhero films, the Star Wars Saga, Pixar creations ranging from Toy Story to The Incredibles, as well as The Simpsons and hit Disney films such as Frozen, and set to arrive later this year.
Emerging Markets Struggle Amid Trade Uncertainty: Emerging market assets are taking a back seat for investors, who fear President Trump’s trade threats could pose a major upset in financial markets.
More from the Wall Street Journal: “investor appetite for risk has evaporated since early May when President Trump threatened to ramp up tariffs on China. New trade worries erupted late Thursday, after Mr. Trump said the U.S. would impose escalating tariffs on Mexico starting June 10 unless the country takes action to deter the flow of Central American migrants passing through its borders.”