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Amazon's NYC home in 'opportunity zone' for Trump tax break
NEW YORK (AP) — Much of the New York City neighborhood selected by Amazon for one of its new headquarters is in a federal "opportunity zone," a designation created by President Donald Trump's tax overhaul that offers developers potentially millions of dollars in capital gains tax breaks to invest in high-poverty, low-income areas.Critics question whether Long Island City, the fast-gentrifying Queens neighborhood across the East River from the skyscrapers of midtown Manhattan, needs such breaks. Median income around Amazon's planned campus is $130,000 a year, poverty is half... Read More
Gene-edited food is coming, but will shoppers buy?
WASHINGTON (AP) — The next generation of biotech food is headed for the grocery aisles, and first up may be salad dressings or granola bars made with soybean oil genetically tweaked to be good for your heart.By early next year, the first foods from plants or animals that had their DNA "edited" are expected to begin selling. It's a different technology than today's controversial "genetically modified" foods, more like faster breeding that promises to boost nutrition, spur crop growth, and make farm animals hardier and fruits and vegetables last longer.
The U.S... Read More
Amazon ends suspense over HQ by picking New York, DC suburb
NEW YORK (AP) — For more than a year, cities around the country waited in suspense over whether they'd be chosen as Amazon's second home.The online retail giant held the promise of 50,000 jobs and the possibility of changing their fortunes. So the 20 finalists dangled tax incentives, showcased their workforce and even signed nondisclosure agreements to keep the process secret — doing whatever it would take to woo the company.
In the end, Amazon decided to go with a safe bet. On Tuesday, it announced that it had picked for its new East Coast headquarters the... Read More
Japan's economy shrank in July-September as trade falls
TOKYO (AP) — The Japanese economy shrank at an annualized rate of 1.2 percent in July-September, as consumer spending, investment and exports fell, according to government data released Wednesday.Cabinet Office preliminary data showed seasonally adjusted gross domestic product — the total value of a nation's goods and services — dipped 0.3 percent in the third quarter from the previous quarter.
Dragging on growth for the world's third-largest economy was diminished trade, with exports falling 1.8 percent and imports dropping 1.4 percent, the data show... Read More
Juul halts store sales of some flavored e-cigarettes
NEW YORK (AP) — The nation's leading e-cigarette maker is halting store sales of some flavors to deter use by kids.The move by Juul Labs Inc. comes ahead of an expected U.S. government crackdown on underage sales of flavored e-cigarettes.
Juul said it stopped filling store orders Tuesday for mango, fruit, creme and cucumber pods and will resume sales only to retailers that scan IDs and take other steps to verify a buyer is at least 21. It said it will continue to sell menthol and mint at stores, and sell all flavors through its website.
The company... Read More
Top Stories in Business/Finance
- Amazon's NYC home in 'opportunity zone' for Trump tax break
- Gene-edited food is coming, but will shoppers buy?
- Amazon ends suspense over HQ by picking New York, DC suburb
- Japan's economy shrank in July-September as trade falls
- Hachette Book Group lays off around 2 dozen employees
- Juul halts store sales of some flavored e-cigarettes
- Asian shares lower after Wall Street falls over oil concerns
- PG&E sued over massive Northern California wildfire
- Trump right and wrong on 'French' wine tariffs
- Amazon goes bicoastal, will open HQs in New York, DC suburb
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