Amazon canceled expansion plans for New York City
In January, the National Enquirer published details of an alleged affair between Jeff Bezos and news anchor Lauren Sanchez. But Bezos read saw mischief in the tabloid’s reporting, wondering whether there was a political motive behind the rumors.
In the same month, Amazon (AMZN) announced that it had decided not to proceed with plans to build its second corporate headquarters in New York City. Amazon had selected Queens and Arlington County, Virginia, to host two HQ2 campuses it said would involve $5.0 billion in investments and create over 50,000 jobs.
Mayor links Amazon’s move to Bezos’s woes
In a recent television interview cited by Politico, New York City mayor Bill de Blasio implied that, in addition to the public protests against Amazon corporate campus plan in Queens, Bezos’s alleged affair might have been behind Amazon’s decision to cancel its expansion plans.
Amazon’s revenue rose 20%
Amazon’s revenue rose 20% YoY (year-over-year) to $72.4 billion in last year’s fourth quarter. Meanwhile, Alibaba’s (BABA), Shopify’s (SHOP), and eBay’s (EBAY) revenue grew 41%, 54%, and 6.0% YoY, respectively, and Groupon’s (GRPN) fell 8.0% YoY.
Amazon (AMZN) recently began letting customers use funds in their special healthcare savings account to pay for purchases of eligible products on its marketplace, the company confirmed to CNBC.
Today, IHS Markit published its purchasing managers' indexes or PMIs for May countries around the world.
Best Buy (BBY) reported better-than-expected earnings for the first quarter of fiscal 2020, which ended on May 4.
On May 23 at 12:46 PM EDT, Apple (AAPL) was trading at $179.12 with a 2.0% loss for the day.
The CBOE Volatility Index has been sitting at very low levels for most of 2019.
On May 23, CannTrust (CTST) was trading nearly 4.1% lower, while Cronos Group (CRON) fell 3.3%.
US equity markets are in the red today amid the escalation in the US-China trade war.