T-Mobile Support Workers to Form a Union ✊
Scott D. Clary | Daily Business, Tech & Finance Newsletter
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Here’s whats happening:
- T-Mobile support workers to form a union
- Netflix shows to get Nielsen ratings sometime in 2023
- This stablecoin issuer has slashed its commercial paper holdings to zero
- NorthOne nabs $67 million in Series B
- Crypto fans pitch Satoshi Nakamoto for Nobel Prize
T-Mobile Support Workers to Form a Union ✊
Workers on T-Mobile’s social media customer service team are forming a union in a bid to protect themselves from unprecedented economic hardships.
- The social media customer service team of T-Mobile, which covers about 300 workers, responds to customer questions, complaints, and comments on sites like Twitter and Facebook.
- The customer service team announced the creation of a “T-Force Social Care Alliance,” citing T-Mobile’s decision of pay cuts, layoffs, etc.
- According to the letter, T-Mobile has cut monthly bonuses for the company’s social media support team. Instead, it has replaced them with micro-raises and a yearly bonus, which the alliance says to have limited details about.
In a statement, Tyler Roquemore, a member of the Alliance, says that T-Mobile’s senior leadership is not prioritizing the best interest of the company’s frontline workers.
He added, saying, “The primary purpose of forming this union is to protect ourselves from further pay cuts and layoffs during unprecedented economic hardships; which may include collective bargaining contracts.”
Netflix Shows to Get Nielsen Ratings Sometime in 2023 📺
Streaming giant Netflix says that some of its shows will use Nielsen’s Digital Ad Ratings in the United States starting sometime in 2023.
- On November 3, Netflix will launch a plan with ads priced at $6.99 a month in several countries, including the United States.
- The move comes after the company reported losing subscribers in recent quarters and is looking for newer ways to grow its revenue.
- Netflix shows on its ad-supported plan in the United States will have ratings from Nielsen sometime next year to give advertisers a better understanding of how the streamer will reach their target audiences.
Why does this matter?
Nielsen is the go-to rating agency for TV shows and broadcasters, allowing advertisers to better understand the size of its audience.
Earlier last month, Amazon Prime partnered with Nielsen to track its audience for Thursday Night Football show, and this move by Netflix makes it the first time for the company to have a rating available for its content.
This Stablecoin Issuer Has Slashed ✂️ Its Commercial Paper Holdings to Zero
Tether has cut back its commercial paper holdings to zero and replaced them with the United States Treasury bills in the hope of ensuring investor protection.
What should you know?
- Tether said the move is part of its ongoing efforts to increase transparency and instead back its tokens with the most secure reserves in the market — U.S. Treasury bills.
- Earlier this month, the popular U.S.-dollar-pegged cryptocurrency had cut its commercial paper holdings to less than $50 million.
- Tether is bringing its commercial paper holdings to zero by the end of the year due to growing concerns over the stability of the Tether ecosystem and its stablecoin.
- With this move, the world’s largest stablecoin issuer hopes to ensure investor protection.
What are commercial papers?
Commercial paper is short-term unsecured debt issued by businesses, where the value of the paper depends on the issuing company. These papers are less stable than other debt instruments, such as U.S. Treasury bonds.
NorthOne Nabs $67 Million in Series B 💰
NorthOne, the operator of popular banking service for small and mid-sized businesses, has raised $67 million in its Series B funding round.
The funding included participation from Battery Ventures, Don Griffith, Next Play Capital, Operator Stack, Redpoint Ventures, Tencent, NFL player Drew Brees, Ferst Capital Partners, FinTLV, and Tom Williams.
What will NorthOne do with the funding?
The latest funding will help support the company to expand its market reach by rolling out new financial technology services that will make it easier for businesses to access working capital.
NorthOne will also use the funds to implement more integrations with external software products.
Founded in 2016, NorthOne is a mobile app and web banking product delivering powerfully simple financial tools to small businesses across America.
Through the app, users can deposit sales proceeds and make payments to suppliers. Since its inception, the company has amassed an installed base of more than 320,000 businesses.
Crypto Fans Pitch Satoshi Nakamoto For Nobel Prize 🏆
Bitcoin enthusiasts on social media platforms have once again launched their annual campaign to have Satoshi Nakamoto (the pseudonymous creator of Bitcoin) — named as the recipient of the Nobel Prize in Economic Sciences.
For years, several crypto advocates have argued that Nakamoto was the most deserving candidate for the economic award, first instituted in 1968.
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