Square business loans, Menulog employment trial, Microsoft buys Nuance and Tom Brady launching NFT

Hey friends, welcome back to the Chris Chow show - where every week I break down the important business news in Australia and around the world.
This week we have Menulog changing it’s employment model, Microsoft is buying the company that created Siri, Square offering business loans to Aussie customers and Tom Brady is launching a NFT company.
Fintech giant Square has announced it will launch business loans in Australia this quarter.
The company started out by selling a small credit card reader that connected to your phone via the audio jack but now offers a variety of terminals ranging from $59 all the way up to $1000.
Australia is actually the first international market earmarked for SMB lending. Square will use the data generated by the terminals, which is fed into Square software, to assess a customer’s risk and provide certain customers with an offer of a loan. The loans will be made for a fixed fee, not an annual interest rate.The seller will pay the fee from a predetermined fixed percentage of sales, with payments made daily. The fee will not change during the life of the loan and is specified upfront.
Food delivery platform Menulog will be trialling a new employment model for its delivery riders, providing them with minimum wages and entitlements, in return the drivers will have to work exclusive shifts.
Menulog managing director Morten Belling told the Senate inquiry it was “morally obligated to do more” and will test out the employment model with full entitlements in Sydney later this year.
This move is in stark contrast to Uber and Deliveroo, which have both rejected an employment model. Uber even said that 80 percent of its drivers would quit if they had to work shifts.
Microsoft has announced that it will be buying speech recognition company Nuance for $16 billion US dollars. Nuance is actually the company that helped Apple create Siri, the virtual assistant found on iOS devices.
Microsoft will pay $US56 in cash for each share of Nuance, which is a 23 percent premium to Nuance’s closing price last Friday.
Tom Brady is the latest celebrity to jump onto the NFT bandwagon. The seven-time Super Bowl champion will actually be launching an NFT platform called Autograph, and Brady will be releasing NFTs created by himself.
The platform will aim to bring together some of the biggest names in sports, entertainment and fashion to develop unique digital collectibles
📰 New Stories 📰
Square: www.afr.com/companies/financi...
Menulog: www.afr.com/work-and-careers/...
Microsoft: www.abc.net.au/news/2021-04-1...
Tom Brady NFT: edition.cnn.com/2021/04/06/te...
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Disclaimer: I am not a financial adviser, I am not an accountant, I am not a tax adviser. This video and my channel is for general information only, as with anything in life you should do your due diligence and seek independent advice.
👋 WHO IS CHRIS CHOW 👋
Hello! My name is Chris, I'm a marketing manager working in Sydney, Australia. I have worked at Apple, Microsoft and HP in a variety of marketing roles. I make videos about personal finance, investing and saving money.
#Square #Menulog #NFT