Amazon slowing down its business in China

Posted: Updated:
NEW YORK -

Here’s the latest business news from Cheddar.

Amazon is slowing down its business in China. The e-commerce platform plans to close its domestic marketplace in the country by the end of July. Customers will no longer be able to buy products from third-party Chinese merchants, but they can still order overseas goods from Amazon's online store. Amazon has struggled to find a place in China's already-crowded e-commerce market, which is dominated by sites like Alibaba and JD.com.

Facebook is developing its own voice assistant to rival Alexa and Siri. CNBC reports that the tech company has been working on the AI assistant since early 2018. The team comes from Facebook's augmented reality and virtual reality groups, and has been in talks with smart speaker suppliers. The voice assistant could be used in Facebook's Oculus headsets or Portal video chat speakers, but faces an already saturated market. Amazon's Alexa makes up 67% of the U.S.  smart speaker market.

Adidas is developing a shoe that is made to be remade. The new “Future Craft Loop” running sneakers will be able to be ground up and made into a new shoe without producing any waste. This comes as Adidas has been trying to reduce its strain on the planet, releasing 11 million shoes this year made out of plastic waste.

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