The Almighty Buck

Browsers Will Store Credit Card Details Similar To How They Save Passwords ( 182

An anonymous reader quotes a report from Bleeping Computer: A new W3C standard is slowly creeping into current browser implementations, a standard that will simplify the way people make payments online. Called the Payment Request API, this new standard relies on users entering and storing payment card details inside browsers, just like they currently do with passwords. The API is also a godsend for the security and e-commerce industry since it spares store owners from having to store payment card data on their servers. This means less regulation and no more fears that an online store might expose card data when getting hacked. By moving the storage of payment card details in the browser, the responsibility of keeping these details safe is moved to the browser and the user. Browsers that support the Payment Request API include Google Chrome, who first added support for it in Chrome for Android 53 in August 2016, and added desktop support last month with the release of Chrome 61. Microsoft Edge also supports the Payment Request API since September 2016, but the feature requires that users register a Microsoft Wallet account before using it. Firefox and Safari are still working on supporting the API, and so are browser implementations from Facebook and Samsung, both eager to provide a simpler payment mechanism than the one in use today.

Massive 70-Mile-Wide Butterfly Swarm Shows Up On Denver Radar System ( 47

dryriver shares a report from BBC: A colorful, shimmering spectacle detected by weather radar over the U.S. state of Colorado has been identified as swarms of migrating butterflies. Scientists at the National Weather Service (NWS) first mistook the orange radar blob for birds and had asked the public to help identifying the species. They later established that the 70-mile wide (110km) mass was a kaleidoscope of Painted Lady butterflies. Forecasters say it is uncommon for flying insects to be detected by radar. "We hadn't seen a signature like that in a while," said NWS meteorologist Paul Schlatter, who first spotted the radar blip. "We detect migrating birds all the time, but they were flying north to south," he told CBS News, explaining that this direction of travel would be unusual for migratory birds for the time of year. So he put the question to Twitter, asking for help determining the bird species. Almost every response he received was the same: "Butterflies." Namely the three-inch long Painted Lady butterfly, which has descended in clouds on the Denver area in recent weeks. The species, commonly mistaken for monarch butterflies, are found across the continental United States, and travel to northern Mexico and the U.S. southwest during colder months. They are known to follow wind patterns, and can glide hundreds of miles each day.

Sprint, T-Mobile Could Announce a Merger By Month's End ( 47

Last month, it was reported that T-Mobile is close to agreeing tentative terms on a deal to merge with Sprint. Now, it appears that negotiations between the two companies are almost complete. Android Police reports: The report claims that Sprint and T-Mobile are putting the finishing touches on the merger, which will likely be announced at the quarterly earnings report at the end of this month. Some of the current discussion topics include Sprint's valuation (estimated to be around $29 billion), the location of the combined company's headquarters, and appointments to the executive management team. The merge is not expected to include a breakup/termination fee, meaning if one company backed out of the deal, there would be no financial penalty. This would align both companies to lobby government regulators for approval without any conflicts of interest. After AT&T called off its buyout of T-Mobile in 2011 due to government opposition, the company paid a $4 billion breakup fee to T-Mobile, which helped strengthen T-Mobile as a competitor. The report notes that while T-Mobile and Sprint's quarterly earnings reports have not been set, T-Mobile's was on October 24 last year, and Sprint's was the next day.
America Online

Regulate Facebook Like AIM ( 105

New submitter gooddogsgotoheaven shares a report from Motherboard arguing why the U.S. government should regulate Facebook like AIM: Sixteen years ago, the FCC approved a merger between American Online and Time Warner, but with several conditions. As part of the deal, AOL was required to make its web portal compatible with other chat apps. The government stopped AOL from building a closed system where everyone had to use AIM, meaning it had to adopt interoperability -- the ability to be compatible with other computer systems. The FCC required AOL to be compatible with at least one instant messaging rival immediately after the merger went through. Within six months, the FCC required AOL to make its portal compatible with at least two other rivals, or face penalties. The FCC's decision changed how we communicate with each other on the internet. By forcing AIM to make room for competition, a range of messaging apps and services, as well as social networks emerged. Instead of being limited to AIM, people who used AOL's portal could choose other platforms.

If Facebook were forced to make room for other services on its platform in the same way AOL made room for other chat apps, new services could emerge. "Facebook has to allow people to access their relationships however they want through other businesses or tools that are not controlled by Facebook," Matt Stoller, a fellow at the Open Markets Institute, said. "Having them control and mediate the structure of those relationships -- that's not right." Of course, people can opt out of Facebook and choose to use other, smaller social networks. But those businesses are essentially unable to thrive because of the hold Facebook has on how we communicate online. All our friends and family are already on Facebook, and because the platform is not regulated to allow competition, it's incredibly difficult for other, newer ones to emerge.


Hello, Mobile Operators? This is Your Age of Disruption Calling ( 43

Analysts at McKinsey & Company write: For the better part of a decade, telecom companies have suffered through declining revenues, cash flow, and return on investment just as tech companies like Google, Facebook, Amazon, and others have mushroomed by building their businesses on the operators' own infrastructure. While these tech visionaries have enjoyed well over $1 trillion in combined market-cap growth by innovating and thinking differently and adeptly, telecom companies have tried to compete by implementing the same old survival tactics: cutting costs, reducing the workforce, and timidly entering into new business adjacencies. The trouble is that playbook no longer applies. [...] We've seen this before in other capital-intensive industries. The airline industry, for example, despite incredible growth in travel during the early part of this century, destroyed economic value until 2015 when, for the first time, the industry-level average return on invested capital (ROIC) was just in excess of its cost of capital. This return to economic profitability was achieved through a combination of falling fuel prices; significant industry consolidation, especially in the United States; and the growth of ancillary revenues, such as checked-baggage fees. If global operators were to follow the airline industry's prior trajectory, the implications could be dramatic. That's not just for the operators that would see declining investment as capital and talent move into sectors with superior returns but also for current and future over-the-top (OTT) players, such as Amazon, Apple, Facebook, Google, and Netflix, who rely so heavily on the operators' networks and investments.

E-commerce Is Concentrating Jobs, Not Killing Them ( 105

A reader shares a report: The growing popularity of online shopping has hit traditional retailers hard, culminating in a spate of retail bankruptcies and store closures in recent years. But according to a new analysis from the Federal Reserve Bank of New York, the retail apocalypse has actually created nearly as many jobs as it has killed. Though e-commerce and other non-store retailers have hired nearly as many workers as traditional retailers have cut, these new jobs are much more geographically concentrated.

Bluetooth Won't Replace the Headphone Jack -- Walled Gardens Will ( 380

Last year, when it was rumoured that the then upcoming iPhone models -- 7 and 7 Plus -- won't have the 3.5mm audio jack, The Verge's Nilay Patel wrote that if Apple does do it, it would be a user-hostile and stupid move. When those iPhone models were official announced, they indeed didn't have the audio jack. Earlier this week, Android-maker Google announced the Pixel 2 and Pixel 2 XL smartphones that also don't feature the decades-old audio jack either, a move that would likely push rest of the smartphone makers to adopt a similar change. The rationale behind killing the traditional headphones jack, both Apple and Google say, is to move to an improved technology: Bluetooth. But there is another motive at play here, it appears. Patel, writes for The Verge: As the headphone jack disappears, the obvious replacement isn't another wire with a proprietary connector like Apple's Lightning or the many incompatible and strange flavors of USB-C audio. It's Bluetooth. And Bluetooth continues to suck, for a variety of reasons. Newer phones like the iPhone 8, Galaxy S8, and the Pixel 2 have Bluetooth 5, which promises to be better, but 1. There are literally no Bluetooth 5 headphones out yet, and 2. we have definitely heard that promise before. So we'll see. To improve Bluetooth, platform vendors like Apple and Google are riffing on top of it, and that means they're building custom solutions. And building custom solutions means they're taking the opportunity to prioritize their own products, because that is a fair and rational thing for platform vendors to do. Unfortunately, what is fair and rational for platform vendors isn't always great for markets, competition, or consumers. And at the end of this road, we will have taken a simple, universal thing that enabled a vibrant market with tons of options for every consumer, and turned it into yet another limited market defined by ecosystem lock-in. The playbook is simple: last year, Apple dropped the headphone jack and replaced it with its W1 system, which is basically a custom controller chip and software management layer for Bluetooth. The exemplary set of W1 headphones is, of course, AirPods, but Apple also owns Beats, and there are a few sets of W1 Beats headphones available as well. You can still use regular Bluetooth headphones with an iPhone, and you can use AirPods as regular Bluetooth headphones, but the combination iPhone / W1 experience is obviously superior to anything else on the market. [...] Google's version of this is the Pixel Buds, a set of over-ear neckbuds that serve as basic Bluetooth headphones but gain additional capabilities when used with certain phones. Seamless fast pairing? You need Android N or higher, which most Android phones don't have.

Beijing Startup Offers Engineers $1M Salary Plus Options in Battle For Talent ( 119

An anonymous reader shares a Financial Post report: Beijing ByteDance Technology is the brainchild of entrepreneur Zhang Yiming. The company is best known for a mobile app called Jinri Toutiao, or Today's Headlines, which aggregates news and videos from hundreds of media outlets. In five years, the app has become one of the most popular news services anywhere, with 120 million daily users. Toutiao is on pace to pull in about US$2.5 billion in revenue this year, largely from advertising. It was just valued at more than US$20 billion, according to a person familiar with the matter, roughly the same as Elon Musk's SpaceX. In China, the Beijing company is controversial because of its recruiting. ByteDance hires top performers from such giants as Baidu and Tencent Holdings, sometimes raising salaries 50 per cent and tossing in stock options. "Our philosophy is to pay the top of the market to get the best," says the slight 34-year-old in an interview at the company's headquarters, his first with foreign media. "The company that wants to achieve the most, you need the best talent." Top performers can make US$1 million in salary and bonus a year, plus options, according to people familiar with its hiring. Total compensation can exceed US$3 million.
United States

US Jobs Dropped By 33,000 In September, Likely Due To Storms ( 128

An anonymous reader shares an NPR report: The U.S. economy shed 33,000 jobs in September, according to the latest report from the Bureau of Labor Statistics, while unemployment fell to 4.2 percent. The September payrolls drop broke a nearly 7-year streak of continuous job gains. But economists caution that the drop is likely representing the short-term consequences of bad weather, not a long-term shift in the job market. Before this report, the economy had added an average of about 175,000 jobs per month; the unemployment rate has been at 4.3 or 4.4 percent since April. Job growth in September was expected to be lower than usual because of the effects of several devastating hurricanes. Economists did not generally predict an actual decline, but a not-so-stellar report was widely anticipated.

Vice President Pence Vows US Astronauts Will Return To the Moon ( 226

Before astronauts go to Mars, they will return to the Moon, Vice President Mike Pence said in a Wall Street Journal op-ed yesterday and in a speech at the National Air and Space Museum today. He touts "humans exploration and discovery" as the new focus of America's space program. This "means establishing a renewed American presence on the moon, a vital strategic goal. And from the foundation of the moon, America will be the first nation to bring mankind to Mars." Engadget reports: There have been two prevailing (and opposing) views when it comes to U.S. endeavors in human spaceflight. One camp maintains that returning to the moon is a mistake. NASA has already been there; it should work hard and set our sights on Mars and beyond. The other feels that Mars is too much of a reach, and that the moon will be easier to achieve in a short time frame. Mars may be a medium-to-long-term goal, but NASA should use the moon as a jumping-off point. It's not surprising that the Trump administration is valuing short-term gains over a longer, more ambitious project. The U.S. will get to Mars eventually, according to Pence, but the moon is where the current focus lies.

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