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.
Beijing has ordered its state-owned companies to cut ties with American consulting firms like McKinsey and Boston Consulting Group out of concern that they may leak state and trade secrets to American spooks, according to the Financial Times.
This news came just a few days after the American Justice Department publicly indicted five serving Chinese military officers on alleged corporate espionage charges. The unprecedented US move is part of a broader strategy to hit back at China’s growing cyber-attacks on American companies as well as government agencies.