Business

Outages at Square, Cash App causing widespread problems for users – CBC.ca

Published

1 year ago

September 8, 2023

Thousands of Square and Cash App customers were unable to access their accounts or send money on Thursday and early Friday due to system outages impacting both payment services.

Outage reports for both platforms picked up around the same time on Thursday afternoon, according to data from outage tracker Downdetector. In the hours following, numerous customers took to social media to share error messages and frustrations about not being able to access their money.

“Since around noon PT on Thursday, sellers have been unable to access accounts or process payments due to a systems outage within Square,” Square wrote on X, the platform formerly known as Twitter, shortly before 7 a.m. ET Friday morning.

“We know you trust us with your business, and these situations add challenges to running your operations. For that, we are truly sorry.”

On its website, Square said it has identified the source of the problem and services are “steadily regaining their functionality,” but a total fix has not yet been fully implemented.

“Our engineers have worked on a solution for this disruption and they plan to make it available in an upcoming update,” the company said around midday Friday. “We will continue monitoring and provide updates as they occur. Thank you for your continued patience.”

Cash App down, too

The parent company of Square is San Francisco-based Block Inc., and another of the company’s payment systems was having problems on Friday, too.

Cash App, which isn’t available in Canada, also experienced an outage on Thursday evening. As of Friday morning, the company said that customers could once again add cash, make purchases with their Cash Card and buy Bitcoin — but not all services had fully returned yet.

“We’re continuing to get the ability to send payments and cash out back up and running,” Cash App wrote on its status page Friday morning.

On Thursday night, the payment service urged those experiencing issues to “not reattempt any actions, such as sending and receiving payments.”

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Cineplex reports $24.7M Q3 loss on Competition Tribunal penalty

Published

22 hours ago

November 6, 2024

Anne Joseph

TORONTO – Cineplex Inc. reported a loss in its latest quarter compared with a profit a year ago as it was hit by a fine for deceptive marketing practices imposed by the Competition Tribunal.

The movie theatre company says it lost $24.7 million or 39 cents per diluted share for the quarter ended Sept. 30 compared with a profit of $29.7 million or 40 cents per diluted share a year earlier.

The results in the most recent quarter included a $39.2-million provision related to the Competition Tribunal decision, which Cineplex is appealing.

The Competition Bureau accused the company of misleading theatregoers by not immediately presenting them with the full price of a movie ticket when they purchased seats online, a view the company has rejected.

Revenue for the quarter totalled $395.6 million, down from $414.5 million in the same quarter last year, while theatre attendance totalled 13.3 million for the quarter compared with nearly 15.7 million a year earlier.

Box office revenue per patron in the quarter climbed to $13.19 compared with $12 in the same quarter last year, while concession revenue per patron amounted to $9.85, up from $8.44 a year ago.

This report by The Canadian Press was first published Nov. 6, 2024.

Companies in this story: (TSX:CGX)

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Restaurant Brands reports US$357M Q3 net income, down from US$364M a year ago

Published

2 days ago

November 5, 2024

Anne Joseph

TORONTO – Restaurant Brands International Inc. reported net income of US$357 million for its third quarter, down from US$364 million in the same quarter last year.

The company, which keeps its books in U.S. dollars, says its profit amounted to 79 cents US per diluted share for the quarter ended Sept. 30 compared with 79 cents US per diluted share a year earlier.

Revenue for the parent company of Tim Hortons, Burger King, Popeyes and Firehouse Subs, totalled US$2.29 billion, up from US$1.84 billion in the same quarter last year.

Consolidated comparable sales were up 0.3 per cent.

On an adjusted basis, Restaurant Brands says it earned 93 cents US per diluted share in its latest quarter, up from an adjusted profit of 90 cents US per diluted share a year earlier.

The average analyst estimate had been for a profit of 95 cents US per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:QSR)

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Electric and gas utility Fortis reports $420M Q3 profit, up from $394M a year ago

Published

2 days ago

November 5, 2024

Anne Joseph

ST. JOHN’S, N.L. – Fortis Inc. reported a third-quarter profit of $420 million, up from $394 million in the same quarter last year.

The electric and gas utility says the profit amounted to 85 cents per share for the quarter ended Sept. 30, up from 81 cents per share a year earlier.

Fortis says the increase was driven by rate base growth across its utilities, and strong earnings in Arizona largely reflecting new customer rates at Tucson Electric Power.

Revenue in the quarter totalled $2.77 billion, up from $2.72 billion in the same quarter last year.

On an adjusted basis, Fortis says it earned 85 cents per share in its latest quarter, up from an adjusted profit of 84 cents per share in the third quarter of 2023.

The average analyst estimate had been for a profit of 82 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:FTS)

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