Daily: On Amazon’s reach and Apple’s aggressive moves to stop Android

The FT has a great story on Amazon out today that is a must-read. It chronicles how deeply Amazon has become embedded in the architecture of the retail world in today’s digital age. Amazon is much more than a book retailer and has begun to have wide-reaching influence online through its nuts and bolts behind the scenes infrastructure products. This blog is hosted on Amazon’s servers for example.

In the other bit of tech news that I thought noteworthy, Apple tried to intimidate US retailers into enforcing an injunction against the Samsung Galaxy Tab in its effort to best Samsung and Android by legal means. While this behavior is dubious, it has not stopped Android from taking over, at least in the mobile phone space where they have 51% market share. Apple is still the handset manufacturer with the biggest market share by a long margin over Samsung. But the patent wars to me are emblematic of Apple’s fear of Android’s threat to its business. Look at the two reviews of the Google Nexus 7 below to see what I mean. I expect, Apple’s margins to start eroding this year as a result.

Android Hits 51.8% Market Share In the U.S. [STUDY]

Apple contacts US carriers, resellers to enforce Samsung product ban

Digg sold for just $500,000 | Technology | guardian.co.uk

Facebook Monitors Your Chats for Criminal Activity [REPORT]

Video – Mossberg: Google’s Nexus 7 Is Good Alternative to iPad – WSJ.com

From warehouse to powerhouse – FT.com


On the economics front, Warren Buffett is one of many who are confounded about the weakness in the economy this year. If you recall, I told you out the outset of 2012 that we were headed for a rough patch and that this could imperil Obama’s chances for re-election. And here we are, moving that way. The question is how much worse will it get. While housing is a bright spot, I don’t see things turning around unless we see some serious hiring in the next few months. If not, I expect recession to have taken hold and to begin after the US takes a small move over the fiscal cliff.

Let me say that, like ECRI, I did think that 2011’s second half downturn would turn to recession by this year but by the beginning of 2012 it was clear that we were out of the woods. Nonetheless, the US economy is still weak and it will likely get weaker without artificial support.

That’s it. Here are the links.


The Market Still Wants QE3, Whether It Works or Not – MarketBeat – WSJ

Buffett pessimistic on economy: CNBC | Reuters

The Price of Inequality by Joseph Stiglitz – review | Books | The Observer

Sober Look: The rising credit risks in US student loans



Spain details deep spending cuts as public anger grows | Reuters

Portugal’s Leader Won’t Soften Austerity – WSJ.com

Spanish Underlying Prices Unchanged in June as Slump Deepened – Bloomberg

Spain banks’ ECB borrowing hits euro-era record | Reuters



A BofA whistleblower emerges from the shadows | Reuters

Libor recommendations from Timothy Geithner to Bank of England | Business | guardian.co.uk

The Consumerist » Citibank Locks Man Out Of Bank Account Until He Repays The $84K Worth Of Gas He Didn’t Buy

Timothy Geithner pressed Mervyn King to reform Libor in 2008 | Business | guardian.co.uk

Wells Fargo profit up 17 percent, mortgage banking strong | Reuters

JP Morgan more than doubles reported trading loss from $2bn to $4.4bn | Business | guardian.co.uk

BBC News – Wells Fargo pays $175m in racial bias settlement


Other news

In Canada, Tim Hortons aims to eat McDonald’s lunch | Reuters

China Q2 GDP growth 7.6 pct, slowest in 3 years | Reuters

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