Amazon is 2nd US company to reach $1 trillion market value

NEW YORK — Amazon on Tuesday became the second publicly traded company to reach $1 trillion in market value, hot on the heels of iPhone maker Apple.

The milestone is another sign of Amazon’s swift rise from an online bookseller to a behemoth that sells toilet paper, TVs and just about anything. In its two decades, Amazon has expanded far beyond online shopping and into health care, advertising and cloud computing.

Its growth has boosted the fortunes of its founder and CEO, Jeff Bezos. His 16 percent stake in Amazon is now worth more than $160 billion. Forbes magazine placed him at the top of its list of billionaires for the first time this year, surpassing Microsoft co-founder Bill Gates and investor Warren Buffett.

Amazon’s stock has increased almost 600 percent in the last five years, including a more than 70 percent surge so far in 2018 alone. On Tuesday morning, the stock climbed enough to push the company’s valuation pass the $1 trillion mark, although it dropped back slightly after that. The stock closed at $2,039.51 Tuesday, about $11 short of keeping its valuation above $1 trillion.

Apple topped the $1 trillion mark in early August. Saudi Arabia’s national energy company, Aramco, is widely believed to be worth much more than either Amazon or Apple.

Amazon’s growing power has made it a target of politicians. President Donald Trump has said the company should pay the U.S. Postal Service more in shipping costs. And U.S. Senator Bernie Sanders has frequently noted the disparity between what Amazon’s warehouse workers make and Bezos’ vast fortune. Amazon has remained publicly silent about Trump’s criticism, but has called Sanders’ comments “misleading.”

Bezos started Amazon after leaving a hedge fund in 1994. He called Amazon the “Earth’s biggest bookstore” at the time, but it quickly added more products and eventually opened up a marketplace where others could list and sell their goods.

Amazon has cemented customer loyalty through its Prime membership program, offering fast, free shipping as well as music and video streaming perks. In April, Bezos disclosed for the first time that Amazon had more than 100 million paying Prime members around the world.

Wall Street has become very enthusiastic about Amazon’s businesses outside of retail. Amazon Web Services provides cloud computing services to companies and governments, and Amazon’s advertising division makes billions by selling ads to companies that want their products to show up when shoppers search on the site.

Those profitable businesses have helped offset the high costs associated with running its online store. Amazon saw its quarterly profit soar past $2 billion for the first time earlier this year as the online shopping, cloud computing and advertising businesses all kept growing.

Amazon is also building its physical presence: Its purchase last year of the Whole Foods grocery chain gave it hundreds of stores at which to promote its gadgets and offer discounts tied to Prime memberships. It has opened more than a dozen brick-and-mortar bookstores, and has plans for more cashier-less Amazon Go convenience stores.

It’s also been trying to have more control over how its packages are delivered. Under a program announced this summer, contractors around the country can launch businesses that deliver Amazon packages. The move gives Amazon more ways to ship its packages to shoppers without having to rely on UPS, FedEx and other delivery services.

Amazon’s latest push has been in the health care industry. It has formed a venture with JPMorgan Chase and Berkshire Hathaway to figure out ways to attack rising health care costs for their U.S. employees and possibly for many more Americans. It also announced plans to buy the online pharmacy PillPack, but hasn’t revealed what it plans to do with it.

source: business.inquirer.net

Amazon buys video doorbell startup Ring

Amazon confirmed Tuesday that it bought video doorbell startup Ring, in a move that could help the internet giant’s delivery arm reach into people’s homes.

Financial terms of the acquisition were not disclosed, but online reports valued the deal at more than a billion dollars.

“We’re excited to work with this talented team and help them in their mission to keep homes safe and secure,” an Amazon spokesperson said.

California-based Ring first caught the spotlight with a failed quest for funding about five years ago on reality television show Shark Tank.

Ring went on to win backing from the likes of billionaire Richard Branson and Amazon’s Alexa Fund.

“Ring is committed to our mission to reduce crime in neighborhoods by providing effective yet affordable home security tools to our neighbors that make a positive impact on our homes, our communities and the world,” Ring said in a statement.

“We look forward to being a part of the Amazon team as we work toward our vision for safer neighborhoods.”

Ring home security products include internet-linked video doorbells that can connect to smartphones to show people who is at their doors and allow them to chat.

Amazon late last year unveiled a smart lock and camera combination in a move into home security.

“Amazon Key” is available exclusively to members of the internet giant’s Prime subscription service in an array of US cities.

Key is designed to provide a secure and trackable way for packages to be delivered inside homes when people aren’t there.

Each Key kit includes an Amazon Cloud Cam synched to the internet and a smart door lock.

Prime members with the service can use a smartphone application to track packages and then watch deliveries happening or review video of in-home dropoffs.

Key allows someone making a delivery to request access to the recipient’s home, with Amazon checking to make sure the proper driver is at the right location at the intended time before unlocking doors, according to a description of the service.

A Cloud Cam providing a view of the inside entryway spurs into action when doors are unlocked, recording a delivery. Delivery people are not given access codes, as unlocking doors is done online.

The move into home security opened a new competitive front with Google’s parent company Alphabet, owner of Nest Labs, which recently expanded its line of products aimed at that market. MKH

source: technology.inquirer.net

7 Black Friday Credit Card Tips You Can’t Afford to Miss

Admit it: You can’t wait to get started on your holiday gift shopping. But if you’re planning to lean heavily on your credit card for Black Friday sales, the Nerds have a few important tips you can’t afford to miss.

Check out the details below for everything you need to know to swipe smart this holiday season (and beyond):

1. Shop with a rewards credit card to rack up serious points

 

The most important thing you can do to make the most of this holiday shopping season is select a card that provides a steady return on your spending in the form of points, miles, or cash back. Then, use it consistently. After all, you’re going to be shelling out big bucks anyway – you might as well get rewarded for it!

2. Use bonus malls to score even more rewards when you shop online

 

 A lot of people forget about the online shopping portals (often known as “bonus malls”) operated by their credit card issuers. If you choose to make your online purchases through these platforms, you stand to earn even more rewards on your credit card spending.

 

One of the best bonus malls out there is the one operated by Discover, known as Discover Deals. If you use your Discover it® and shop through Discover Deals, you could score extra cash back, a statement credit, or instant savings at checkout. This is a great way to help your dollars go the extra mile this holiday season.

3. Use your Chase Freedom® - $200 Bonus for department store shopping

 

If you’re planning to buy a lot of gifts at department stores this Black Friday, be sure to use your Chase Freedom® - $200 Bonus. With it, you’ll earn 5% cash back until December 31, 2014 at select department stores, aw well as Amazon.com and Zappos.com (up to $1,500 spent). Plus, you’ll earn unlimited 1% cash back on all other purchases.

 

And don’t forget: If you also have the Chase Sapphire Preferred® Card, you can transfer all the Ultimate Rewards points you’re racking up with the Chase Freedom® - $200 Bonus over to it and cash them in for travel. Talk about a win-win!

4. Look into your credit card issuer’s extended warranty policy, pronto

 

Lots of people buy electronics on Black Friday, and many retailers try to hock extended warranty coverage at unsuspecting consumers. But it’s highly likely that your credit card already has your back. Every major network (Visa, MasterCard, American Express and Discover) offers some kind of extended warranty on most purchases made with the card.

However, exclusions apply and every card provides slightly different benefits. Consequently, placing a quick call to your card’s customer service line to see what it covers before you hit the mall is a smart idea.

5. Keep a watch on your balance

 

Holiday cheer can be a powerful force, but don’t let it cause you to overspend on your plastic. Using more than 30% of the available credit on any of your cards at any time during the month could do damage to your credit score. If you’re starting to get close to that threshold, make a payment as soon as you can.

6. Use a card that offers price protection to be sure you’re getting the best deal

 

According to a 2014 NerdWallet analysis, Black Friday “deals” aren’t always the absolute lowest prices of the season. To ensure that you’re getting the best price on every gift you buy, shop with a card that offers price protection. MasterCard, Discover, and Citi all provide the opportunity to get some a refund if an item you’ve bought with your card drops in price within a certain window of time.

Again, this functions slightly differently from card to card and there are restrictions to keep in mind. Be sure to read your plastic’s terms and conditions carefully for the ins and outs of its price protection program.

7. Be sure to pay your bills on time

 

If you’re juggling several credit cards to maximize rewards on your holiday shopping, take steps to stay organized. Missing a payment on one of them could cause your credit score to take a serious hit, so set calendar alerts for your billing due dates. This way, you’ll be getting the best deals with your cards and keeping your credit in good shape.

source: nerdwallet.com

iOS 8 Safari lets you scan your credit card, pay online

 

Here's something online shoppers with iPhones and iPads can look forward to when they upgrade to iOS 8: using Safari to scan and enter their credit card details.

 

Enthusiast site 9to5mac.com said the Safari browser in iOS 8 can use the phone's camera to enter credit card data instead of having the user manually typing it.

 

"Website developers don’t have to do anything to enable the feature, as Safari appears to automatically detect when a credit card number is being requested and presents the option to scan above the keypad," it said.

 

Presently, Safari allows users to select credit cards stored in its "Passwords" and "AutoFill," the site said.

 

However, the new feature adds a new option to select “Scan Credit Card” and snap a picture of the card.

 

"Apple then uses optical character recognition to input the number into the text field in Safari," 9to5mac said.

 

Other updates for Safari include a facelift in OS X Yosemite and the ability to request a desktop site and a tab view for iPad, it added. — Joel Locsin/TJD, GMA News

 

source: gmanetwork.com

Online Christmas shoppers advised: Avoid WiFi, use SSL

Avoid online shopping via Wi-Fi and shop at sites with SSL if possible.

These were the pieces of advice from security vendor Bitdefender, which said the holidays may bring an increase in online offers.

"Taking precautions to make secure payments and choose reliable suppliers can ensure a successful online shopping experience that is worth waiting all year for," Bitdefender's Loredana Botezatu said in a blog post.

Botezatu cited a National Retail Federation survey showing that while people are likely to spend less this year than in 2012, “four in 10 (42.1 percent) indicated they shopped online over the weekend, or approximately 59 million shoppers.”


She suggested that online shoppers use their phone or tablet’s 3G network connection to make purchases when on the go.

"Avoid buying anything while connected to a public Wi-Fi network," she said.

Botezatu also warned shoppers against scammers who use discounts and coupons as bait to lure unwary users.

She said they will draw victims in with "look-alike shopping pages" and trick them into giving them credit-card details.

On the other hand, she said shoppers should also ignore spam messages, and not buy a product advertised via unsolicited e-mail messages.

"It is most likely a fake. It is better to ask friends for advice or check the legitimacy of an online shop on forums by simply googling it. Learn from other people’s experience," she said.

Meanwhile, Botezatu said buyers should choose only web shops with SSL certificates to confirm their identity.

"An URL starting with HTTPS and a padlock at the end should indicate you are on the right page," she said.

Shop from home

Meanwhile, Botezatu advised shoppers to do their shopping from home, instead of a public place like a library, coffee shop, school lab or in an airport "where computers are used by other persons as well."

Such systems can be monitored with surveillance mechanisms like keyloggers, she warned.

Botezatu also said shoppers should use an antivirus solution that can handle bogus advertisements and get rid of them. — TJD, GMA News

source: gmanetwork.com