Monthly Archives: June 2014

Why Amazon’s Local Marketplace Will Be a Consumer Win

Amazon will begin offering local services next year
Amazon local services. Yelp killer?

Retail giant Amazon’s rumored move into local services could have a massive impact on consumers if the Seattle-based firm successfully taps its vast trove of information.

Citing people familiar with the matter, Reuters reports that Amazon is planning to launch a marketplace for local services later this year. This would pit the online retailer against the likes of Yelp, Angie’s List and specialist review sites such as HomeAdvisor.com.

Read more about Amazon’s local marketplace.

Alibaba Preps Employees for $40 Billion Windfall

Alibaba IPO will make many employees millions
Is this another tech bubble?

(Reuters) – As Alibaba prepares for what could be the biggest tech company IPO to date, the Chinese e-commerce giant has been counselling employees on how to deal with the roughly $41 billion they could unlock through a New York listing.

While some staffers have enquired if premium brand BMW sells cars in Alibaba’s corporate orange, others may invest windfall stock gains in property in North America or channel funds back into start-up ventures in China, hoping to build future Alibabas, bankers and financial planners say.

This could be signify the bursting of yet another tech bubble.

Get the whole taco here.

Email Encryption Is on the Rise

Volume of Encrypted Email Rising Amid Spying Fears

The volume of email cloaked in encryption technology is rapidly rising as Google, Yahoo, Facebook and other major Internet companies try to shield their users’ online communications from government spies and other snoops.

Google and other companies are now automatically encrypting all email, but that doesn’t ensure confidentiality unless the recipients’ email provider also adopts the technology.

In an analysis released yesterday, Google Inc. said that about 65 per cent of the messages sent by its Gmail users are encrypted while delivered, meaning the recipient’s email provider also supports the technology.

Read more about email encryption here and here.

Largest cyber crime ring busted

U.S. Says Global Effort Has Hobbled a Cybercrime Ring

In a secret 72-hour blitz over the weekend, the FBI, several foreign governments and a host of security firms dismantled what officials say is the most sophisticated operation ever to commandeer private computers and siphon tens of millions of dollars from American bank accounts.

The operation’s alleged Russian ringleader has been indicted on charges of hacking, conspiracy and bank fraud, Justice Department officials said Monday.

Read about the whole sordid affair here.