The yield on the benchmark 10-year Treasury note fell below 2% for the first time since November 2016 on Wednesday — breaching a key psychological level.Bondsread more
The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
Amazon and Blue Origin founder Jeff Bezos gave more insight into his space company's lunar plans on Wednesday.Technologyread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Delta warned travelers that a technical problem could delay flights on Wednesday.Airlinesread more
The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn't plan on leaving anytime soon.The Fedread more
If the Trump administration and Congress fail to reach a spending agreement, the White House will offer to keep the government funded at its current levels for a year, Mnuchin...Politicsread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
Investors need to be cautious because the economy will get hurt the longer the trade war drags on, Jim Cramer says.Mad Money with Jim Cramerread more
Santa Cruz, located 75 miles south of San Francisco, is a popular surf town best known for its nice weather and beachfront amusement park.
But soon we may start associating the city more closely with one of the largest tech companies in the world: Amazon.
According to the Silicon Valley Business Journal, Amazon has been quietly growing its presence in Santa Cruz over the past two years, now employing over 100 people in a 40,000 square feet office space.
It's unclear what exactly the team there is working on or why Amazon has picked Santa Cruz as an office location. But the report says the office has a group of engineers working on the Alexa voice technology and could possibly expand up to 200 people.
It's also interesting that Amazon didn't take any tax breaks or economic benefits from the city of Santa Cruz for opening an office there. According to another report by the Silicon Valley Business Journal, Amazon has received more than $1.2 billion in state subsidies for the 250 facilities it's built across the country.
Amazon did not immediately respond to a request for comment.