Amazon joins $1 trillion club

admin   •   September 5, 2018   •   2337

Amazon logo. REUTERS/Pascal Rossignol

Amazon.com Inc. on Tuesday joined Apple Inc. in the $1 trillion club, becoming the second member of the group after its stock price doubled in 15 months.

If the online retailer’s share price continues at its recent pace, it will be a matter of when not if, Amazon’s market valuation eclipses that of iPhone maker Apple, which reached $1 trillion on Aug. 2.

Apple took almost 38 years as a public company to achieve the trillion dollar milestone, while Amazon got there in 21 years. While Apple’s iPhone and other devices remain popular and its revenues are growing, it is not keeping up with Amazon’s blistering sales growth.

Amazon has impressed investors by successfully diversifying its business into virtually every corner of the retail industry, altering how consumers buy products and putting major pressure on many brick-and-mortar stores. It also provides video streaming services and bought upscale supermarket Whole Foods. And its cloud computing services for companies have become a major driver of earnings and revenue. — Reuters

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Tech CEOs dodge question on whether China steals technology

UNTV News   •   July 30, 2020

The chief executives of four of the world’s largest tech companies, Amazon.com Inc, Facebook Inc, Apple, and Alphabet’s Google, faced a congressional hearing on Wednesday (July 29) where, amongst other questions, they were asked whether the Chinese government steals technology from U.S. companies.

Rep. Greg Steube of Florida, who presented the question, said he was looking for a “yes or no answer”.

The four executives – Amazon’s Jeff Bezos, Facebook’s Mark Zuckerberg, Google’s Sundar Pichai, and Apple’s Tim Cook – offered a mixed bag of responses, with Zuckerberg coming closest to a direct answer.

“Congressman, I think it’s well documented that the Chinese government steals technology from American companies,” the Facebook CEO said via videoconference.

The day-long hearing marked the first time the four CEOs have appeared together before lawmakers, and was also the first-ever appearance of Bezos before Congress. (Reuters)

(Production: Pavithra George)

Online barter gains popularity in Iloilo amid COVID-19 crisis

Aileen Cerrudo   •   May 27, 2020

Get a sack of cabbages for a sack of potatoes. That was how trade worked during the early civilizations. Before money existed people used barter to trade.

Because of the severe economic turmoil created by the coronavirus disease (COVID-19) pandemic, several business owners and employees have lost their livelihood and had to look for other means to survive.

Residents in Iloilo City have resorted to online bartering to cope with the economic effects of the pandemic.

The Iloilo Barter Community (IBACO) currently has over 44,000 members. IBACO is bringing back barter and is trading various goods including food, pre-loved items, and services in exchange for another product.

Money is not needed. One can barter gadgets for fruits, clothing, or any other product that the trader would prefer having.

According to IBAC founders Charity Delmo and Hector Angeles, they created the group in order to help fellow business owners cope with the economic effects of the pandemic.

“While it’s a fun community, we found out that there are a lot of members who are also business members who lost their business, and people who lost their jobs,” Delmo said.

In order to trade, an individual must post the items they want to barter, which includes the description, worth and what items they want to exchange it with.

Members will then be able place their offer through the comments section. The page does not allow direct or private messages until the deal is closed.

IBAC, meanwhile, does not allow trading of animals, hazardous or illegal items, medicines, alcohol, or masks. AAC (with reports from Lalaine Moreno)

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Amazon to hire 100,000 workers as online orders surge on virus worries

UNTV News   •   March 17, 2020

Amazon.com Inc said on Monday (March 16) it would hire 100,000 warehouse and delivery workers in the United States to tackle a surge in online orders, as consumers shop heavily fearing the spread of the coronavirus outbreak.

Amazon said it would invest over $350 million to raise the pays for these employees in the U.S. and Canada by $2 an hour, 2 pounds in the UK and about 2 euros in the European Union.

It currently pays $15 an hour for workers in its U.S. fulfillment centers.

(Production: Catherine Koppel)

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