Amazon has finally, officially made a decision. The company on Tuesday announced it would split its second-headquarters project, which it calls HQ2, in two. The two locations — the Long Island City neighborhood of Queens, New York, and the newly formed National Landing area of Arlington, Virginia — will each get roughly half of the…
Apple continued its slide on worries about softening demand. The tech giant tumbled 4.8 percent after Goldman Sachs equity analysts cut their price target, citing deteriorating demand, especially in China. China, the world’s largest consumer of oil, has also been weighing on commodities. The price of crude, now just above $53 a barrel, has fallen…
THE LOS ANGELES regional food bank distributes 300,000 meals a month, but that, says its director, Michael Flood, is only a fraction of what the hungry 1.4m people in the county need. The bank resembles the vast warehouse operation of a supermarket chain, with apartment-sized refrigerators and fork-lift trucks processing millions of pounds of groceries.…
WASHINGTON (Reuters) - The United States reimposes oil and financial sanctions against Iran on Monday, significantly turning up the pressure on Tehran in order to curb its missile and nuclear programs and counter its growing military and political influence in the Middle East. FILE PHOTO: Iranian rials, U.S. dollars and Iraqi dinars are seen at…
WASHINGTON (Reuters) - The U.S. Federal Reserve raised interest rates on Wednesday and left intact its plans to steadily tighten monetary policy, as it forecast that the U.S. economy would enjoy at least three more years of growth. In a statement that marked the end of the era of “accommodative” monetary policy, Fed policymakers lifted…
LONDON — Stocks are sinking, again, after disappointing earnings reports from US tech giants Amazon, Google and Snap weighed on an already gloomy global sentiment in markets this week. US stocks have been having a rocky "red October," with catalysts ranging from fears about a China trade war, the Fed raising interest rates, and a…
JUST a year ago the world was enjoying a synchronised economic acceleration. In 2017 growth rose in every big advanced economy except Britain, and in most emerging ones. Global trade was surging and America booming; China’s slide into deflation had been quelled; even the euro zone was thriving. In 2018 the story is very different.…
SHANGHAI, China — Alibaba just made e-commerce history. With the company's massive Singles' Day celebration on 11/11 — November 11 — coming to a close, Alibaba reports that customers spent $30.8 billion online over the last 24 hours. That is a significant increase from the $25.3 billion in gross merchandise volume (GMV) Alibaba shoppers spent…
Paul Volcker, the former Federal Reserve Chairman credited with taming U.S. inflation nearly four decades ago, gave a rare interview Tuesday to the New York Times in which he expressed his pessimism and concerns about the U.S. government and economy during the Trump administration. “We’re in a hell of a mess in every direction,” Volcker…
There are wine bars and a cycling studio along the riverfront in Long Island City, among gleaming high-rise apartment buildings with views of Midtown Manhattan. The soon-to-open library branch is a modern art cube of concrete, the median income is $138,000 a year, and America’s hottest online retailer is about to move in. In the…
