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
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Amazon and Blue Origin founder Jeff Bezos gave more insight into his space company's lunar plans on Wednesday.Technologyread more
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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
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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
Apple had been pointing to expansion efforts for several months, starting with a commitment announced in January to contribute $350 billion and 20,000 jobs to the U.S. economy over five years. But the company and its CEO were determined to keep competition and media hype out of it.
"We're not doing the beauty contest kind of thing. We're not. That's not Apple," Cook said earlier this year in an interview with Recode's Kara Swisher and MSNBC's Chris Hayes.
"We didn't want to create this contest. Because I think what comes out of that is you wind up putting people through a ton of work to select one," Cook said at the time. "That is a case where you have a winner and a lot of losers, unfortunately. I don't like that. You know most things in life I do not view as win-lose. The best things you can ever do in business is find the win-win."
Amazon's search for a second headquarters ran more than a year, drew proposals from more than 200 cities and municipalities, and inspired heavy media attention. Last month, Amazon announced the Long Island City neighborhood of Queens in New York City and the National Landing neighborhood of Washington, D.C.-suburb Arlington, Virginia, as the chosen sites.
The company has faced intense criticism for the proposal process, through which Amazon collected massive amounts of data on cities across North America. Some bidders tacked on billions of dollars in tax incentives, in an effort to gain an edge in the race.
Each of Amazon's new headquarters will see $2.5 billion in local investment and house 25,000 employees. Apple didn't disclose the total combined investment for its expansion efforts — but with a $1 billion facility in North Austin; expanded facilities in Pittsburgh, New York and Boulder, Colorado; and new facilities in Seattle, San Diego and Culver City, California, the money adds up quickly.
The new facility in North Austin will initially accommodate 5,000 employees, with the capacity to grow to 15,000.
Amazon and Apple aren't the only tech companies building.
The company is planning for an additional 12,000 employees in New York City, the Journal reports. That requires significant investment in neighborhoods where real estate prices are already high. Google's purchase of the Chelsea Market building alone cost $2.4 billion.
Cloud giant Oracle has been quietly doubling down on expansion in Austin as well, according to the Austin Business Journal. A second phase of construction would nearly double Oracle's foothold in the city. Executives told the Austin Business Journal that the site could grow to accommodate 10,000 employees.