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Square closes up 5.5% after report that it plans to offer checking and savings accounts

A trader works the floor of the New York Stock Exchange (NYSE) in New York.Yana Paskova | Bloomberg | Getty ImagesPayments company Square rose more than 5% in afternoon trading Monday after Bloomberg News reported the payments company could offer savings and checking accounts in the near future.The report said a code within a Square app update revealed the company’s plans including details about checking and savings accounts.Square closed up 5.5%.Zoom In IconArrows pointing outwardsThe hidden code uses rhetoric that leads Bloomberg to believe Square will offer a  a 0.5% interest rate for its savings account through 2021.Square did not immediately respond to CNBC’s request for comment.Shares of Square are down 3% this year and are off more than 25% from their most recent high.The payments company saw blowout earnings earlier this month. Square reported first-quarter earnings of 41 cents a share, well above the FactSet estimate of 17 cents. Revenue of $5.06 billion also came in above expectations of $3.36 billion.— with reporting from CNBC’s Michael Bloom.

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Ryanair Plane Grounding in Belarus Was State-Sponsored Hijacking, CEO Says

Belarus authorities arrested opposition activist Roman Protasevich on board a Ryanair plane, which had been flying from Greece to Lithuania, after diverting the aircraft to Minsk. Ryanair’s CEO Michael O’Leary called the incident “a case of state-sponsored hijacking,” further raising the global aviation industry’s alarm over the diversion. Photo: Onliner.by/AFP/Getty Images The Wall Street Journal Interactive Edition

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Discovery shareholder John Malone says 'there's no question' Comcast CEO Brian Roberts wanted to acquire WarnerMedia

In this articleDISCATCMCSACount John Malone among those anticipating a potential future tie-up between a combined WarnerMedia-Discovery and Comcast’s NBCUniversal.The billionaire media mogul and controlling Discovery shareholder told CNBC on Monday he’s already held discussions with Comcast Chief Executive Officer Brian Roberts about different combinations of corporate relationships regarding NBCUniversal. (Comcast-owned NBCUniversal is the parent company of CNBC.)”My comment to Brian was that this is the pickle out of the jar,” Malone said in an interview with CNBC’s David Faber. “If the regulatory environment permitted, down the road, all kinds of relationships could be contemplated between this enterprise that we’re creating and Brian’s enterprise. I think there are many opportunities for this Discovery-[WarnerMedia] enterprise to work with NBCUniversal to develop successful businesses.”Telecom giant AT&T announced May 17 a deal to combine its content unit WarnerMedia with Discovery. Under the agreement, AT&T will unwind its $85 billion acquisition of the then-named Time Warner, which closed just under three years ago, and form a new media company with Discovery. The deal will create a new business, separate from AT&T.Malone said “there’s no question” Roberts wanted to acquire WarnerMedia, but AT&T felt a transaction with Comcast would have been problematic from a regulatory perspective and complicated with regard to

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Airbnb announces a big new update focused on flexibility — here's what's new

In this articleABNBThe Airbnb logo is seen on a little mini pyramid under the glass Pyramid of the Louvre museum in Paris, France, March 12, 2019.Charles Platiau | ReutersAirbnb announced more than 100 new changes and updates to its platform Monday with a focus on flexibility, ahead of a widely anticipated boost in travel as the Covid-19 pandemic continues to subside in some parts of the world.The stock was up about 1% in the early afternoon.The changes come on the tail of Airbnb’s first-quarter earnings. While its net loss tripled due to debt repayments and restructuring costs, it reported 64.4 million nights and experiences booked, up 39% from the prior quarter and up 13% year over year, showing the company was rebounding from the impact of the pandemic. During Airbnb’s earnings call earlier in May, CEO Brian Chesky said the company was going to work to point demand from customers to where it knows it has the supply from hosts. The changes may help it do that.Chesky said Monday that Airbnb is also making the updates because people are less tethered to home and work, are traveling more frequently and are staying at their travel destinations longer.AirbnbChanges for Airbnb guestsAirbnb

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John Malone sees merged WarnerMedia-Discovery becoming No. 3 global streamer behind Netflix, Disney+

In this articleTDISCADISNFLXThe blockbuster WarnerMedia-Discovery deal is especially good news for HBO Max, billionaire media mogul John Malone told CNBC’s David Faber.In an interview that aired Monday, Malone said his previous reservations about HBO Max’s ability to be a dominant player in the crowded digital-streaming landscape will be addressed once the AT&T-owned service is under the same roof as Discovery.”I thought they were going to struggle with getting the kind of subscriber growth in the U.S. that they were hoping for. And I think, in fact, that’s true,” said Malone, a Discovery board member whose voting stake in the company is more than 25%.Malone thinks the new firm could join Netflix and Disney+ as a true global powerhouse.”I think we are not only going to be the third such platform, but I think we’ll be very competitive with the other two in terms of being able to satisfy the entertainment and curiosity and information needs of the world, basically, a worldwide platform,” Malone said.John MaloneMatthew Staver | Bloomberg | Getty ImagesDisney+ ended the fiscal second quarter with 103.6 million subscribers, according to the company. Netflix said last month it had almost 208 million subscribers worldwide.AT&T said in April that HBO and

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Flight paths over Belarus should be assessed, the transportation secretary says.

The transportation secretary said Monday that the safety of flights operated by U.S. airlines over Belarus should be reviewed after the Eastern European country forced a commercial flight to land in order to seize a dissident on board.“That’s exactly what needs to be assessed right now,” the secretary, Pete Buttigieg, told CNN. “We, in terms of the international bodies we’re part of and as an administration with the F.A.A., are looking at that because the main reason my department exists is safety.”The comments came after the authoritarian leader of Belarus dispatched a fighter jet on Sunday to intercept a Ryanair plane carrying the journalist Roman Protasevich. The plane was forced to land in Minsk, the Belarusian capital, where Mr. Protasevich was arrested.The secretary of state, Antony J. Blinken, condemned the forced diversion, saying it was a “shocking act” that “endangered the lives of more than 120 passengers, including U.S. citizens.” And Michael O’Leary, the chief executive of Ryanair, an Irish-based low-cost carrier, called the operation a “state -sponsored hijacking.”The International Air Transport Association, a global industry group, said Saturday on Twitter, “We strongly condemn any interference or requirement for landing of civil aviation operations that is inconsistent with the rules

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Belarus’s forced landing of airliner sends shock waves through industry.

Some airlines in Eastern Europe began diverting their planes to avoid Belarus airspace on Monday, a day after that country’s leader sent a fighter jet to force down a Ryanair flight, allowing the authorities to seize an opposition journalist on board.The shocking move has unleashed a storm of criticism against Aleksandr G. Lukashenko, the Belarus president who has clung to power despite huge protests last year. The European Union is considering penalties against the country. At least two airlines said that they were diverting flights away from Belarus airspace as a precaution, but most carriers seem to be waiting to be told what to do by the European authorities.In an interview on Monday with an Irish radio broadcaster, Ryanair’s chief executive, Michael O’Leary, condemned the actions of the Belarus authorities, who ordered the plane, flying from Athens to Vilnius, Lithuania, to land in the Belarus capital of Minsk and then arrested a dissident journalist on board, Roman Protasevich, and his companion.“This was a case of state-sponsored hijacking, state-sponsored piracy,” Mr. O’Leary told interviewers on Newstalk.Mr. O’Leary, however, said he was waiting for instructions from European Union authorities in Brussels about whether to steer other flights away from Belarus.“We, like all

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