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World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Stocks in Asia fell Monday afternoon following an escalation in the U.S.-China trade war late last week.Asia Marketsread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
Hours after President Trump said Sunday he had "second thoughts" about escalating the trade war with China, the White House sought to explain his remark because it was...Politicsread more
President Donald Trump said that he would have a major trade deal with U.K. after it leaves the European Union.Politicsread more
Amazon's spokesperson told CNBC on Thursday that the bulk of the 25,000 jobs that the company had promised to create in New York City for HQ2 will now go to other corporate offices and tech hubs owned by Amazon across 17 North American cities, including Boston, San Francisco and Vancouver.
New York will still get a small portion of the new jobs created, as Amazon has a huge presence in the city with roughly 5,000 employees. But it's unclear exactly how much of the new jobs will go to New York City, as the 25,000 jobs were scheduled to be created over a 15-year period, the spokesperson said.
The loss of most of the new jobs is a major setback for New York as Amazon's new headquarters and its additional workforce were expected to further accelerate the city's economic growth, especially in certain sectors like technology and advertising. New York Governor Andrew Cuomo previously said the deal would bring in approximately $27 billion in revenue in exchange for the roughly $3 billion incentive package.
"Amazon's decision to withdraw its New York City HQ2 is a setback for the city that illustrates politics and anti-business sentiment can derail economic development despite competitive strengths," said Nick Samuels, VP at Moody's Investors Service.
Amazon announced on Thursday in a stunning reversal that it would cancel its plan for a second headquarters in New York City, following mounting opposition from local leaders and policymakers. The company announced in November that it would create 25,000 "high-paying" jobs over 15 years in Long Island City, an industrial and residential neighborhood of Queens.
Amazon's spokesperson said that the company will continue to create jobs in Seattle as there are multiple new office buildings under construction. It is also committed to creating 25,000 new jobs in Northern Virginia for its other HQ2 location, and 5,000 new jobs in Nashville. There will not be another HQ2 search process to replace New York City, Amazon said in a blog post.