Twitter preps for payment system
Twitter is planning to introduce payment tools across the social media app, and CEO Elon Musk says the system would initially use fiat currencies and eventually add cryptocurrency functionality.
Twitter’s director of product management, Esther Crawford, is leading the development on payments after Musk floated the payment systems idea for Twitter in a pitch to investors back in May, saying it could generate upwards of $1.3 billion by 2028.
Musk acquired Twitter in late October for $44 billion following a chaotic legal battle that dragged out for months. The new boss has been pushing Twitter to find new streams of revenue as it faces a drop in advertising income.
Story by FOX Business reporter Bradford Betz
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Stocks waffle as S&P looks to monthly gain
| Symbol | Price | Change | %Change |
|---|---|---|---|
| GM | $36.29 | -1.66 | -4.37 |
| XOM | $113.56 | -2.05 | -1.77 |
| MCD | $270.89 | -1.57 | -0.58 |
U.S. stocks struggled for direction on Tuesday as investors digested a basket of earnings from bellwethers including Exxon Mobil, GM and McDonald’s.
Over the last five days, the Dow remains slightly up around 0.02%, the S&P is now down around 0.22%, and the tech-heavy Nasdaq is now roughly just 0.02% higher during the same time.
In commodities, West Texas Intermediate crude futures slipped 0.65% to $77.39 a barrel, as gold popped 0.15% to $1,925.80 an ounce.
Advanced Micro Devices (AMD) will report earnings this afternoon
| Symbol | Price | Change | %Change |
|---|---|---|---|
| AMD | $72.45 | -2.95 | -3.91 |
Advanced Micro Devices will report their fiscal fourth quarter and full year 2022 financial results at 5 p.m. ET.
The tech company’s earnings report comes ahead of Alphabet, Amazon and Apple reporting on Thursday.
The company’s third quarter earnings …….
