Arlington project to cost $2.5 billion
Amazon’s (AMZN) Arlington County headquarters are set to start operations next month, several months ahead of the company’s targeted October start. The first Arlington team will initially operate from temporary office space as the company works toward opening its first building this fall. Amazon aims to create 400 jobs at the Arlington facility by the end of 2019.
Amazon is investing $2.5 billion in the development of the Arlington headquarters, through which it hopes to create more than 25,000 jobs across North Virginia in the next decade. The company has secured hundreds of millions of dollars in tax incentives from state and local authorities for its Arlington project. A lot of those incentives are conditional on the company achieving employment targets.
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Amazon’s workforce to expand significantly
Amazon exited the first quarter with 630,600 employees worldwide. Meanwhile, JD.com (JD) and Google parent Alphabet (GOOGL) closed the first quarter with 179,000 and 103,459 employees, respectively. Alibaba (BABA) exited 2018 with a workforce for 101,550, and Walmart (WMT) employs millions around the world.
Amazon’s headcount is set to significantly expand once it fills its Arlington headquarters. Amazon had planned to set up another corporate headquarters in New York but scrapped the plan amid opposition in the state. The New York headquarters would have hosted at least 25,000 Amazon employees.
Amazon (AMZN) recently launched a peer-to-peer payment service in India, vying against Google (GOOGL) and Facebook (FB) for dominance of the market.
After opening on a bearish note on Wednesday, Tesla (TSLA) was trading with 4.8% losses for the day, near $195.25 at 1:16 PM ET.
With voting conducted in seven phases panning six weeks, India’s (EPI) elections have been a grand affair—to say the least. Tomorrow is the day of the results.
Qualcomm (QCOM) stock fell more than 10% in the first half of trading on May 22 after it lost its licensing lawsuit with the US FTC (Federal Trade Commission).
Apple (AAPL) suffered a setback recently when the US Supreme Court allowed an antitrust lawsuit against the company to proceed.
Today doesn’t seem to be a good day for electric vehicle companies. Earlier today, NIO stock hit an all-time low of $4.00.
The cannabis sector has been struggling to find direction on May 22, with cannabis stocks trading on a largely mixed note in the first half.