10 things in tech you need to know today

Elizabeth Holmes, TheranosCourtesy of TheranosTheranos founder Elizabeth Holmes.

Good morning! Here’s the technology news you need to know on Wednesday.

1. Jack Dorsey’s payments company Square has filed for its initial public offering. According to its S-1 filing, the company generated $US560 million (£361 million) in net revenues in the first six months of 2015, with net losses of $US77 million (£49 million).

2. Blood testing startup Theranos has only been using its famous Edison system — which promises to run a full range of laboratory tests using just a few drops of blood — for a small fraction of the tests sold to customers. The Wall Street Journal reports that Theranos only used the device for 15 tests in December 2014.

3. Facebook is getting close to launching its standalone mobile news app. VentureBeat reports that the app will be called Notify.

4. Apple just announced a new stock programme that could give retail employees up to $US2,000 (£1291) in stock grants. These types of offers were usually only made within Apple’s product team.

5. Netflix’s earnings — earnings per share of $US0.07 (£0.05) on revenue of $US1.74 billion (£1.12 billion) — missed expectations. It also only added 880,000 members in the US, when Wall Street expected the company to add 1.25 million users.

6. WeWork has changed its hiring policy for cleaners after running into union problems. It will now commit to hiring union represented janitorial staff in New York and Boston.

7. Tesla has unveiled a new autopilot system. Newer Tesla Motors Model S sedans will be able to steer and park themselves under certain conditions, but Elon Musk said drivers shouldn’t let go of the wheel just yet.

8. Twitter has named Omid Kordestani as its executive chairman. Kordestani was Google’s chief business officer who recently stepped down to become an adviser at Alphabet and Google.

9. According to the former MI5 boss Lord Evans, inserting backdoors into encryption software is “not the answer” to battling crime. He added that there is not currently a “satisfactory” answer on how to deal with this.

10. Amazon just shut down a travel site it launched 6 months ago. Amazon Destinations offered a service that let users book hotels within their home area, providing “local getaways” for short vacations.

NOW WATCH: 14-year-old makes up to $US1,500 a night eating dinner in front of a webcam in South Korea

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.