Friday's retail sales could be murky because of last month's Amazon Prime Day

Amazon's Prime Day distorted government sales data in July, and it could do so again in August, according to Bank of America Merrill Lynch economists. The consensus forecast for Friday's retail sales report is 0.2%, but the BofA economists expect a decline, based on the aggregate sales data from Bank of America credit and debit cards. Last month, the economists […]

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Expedia CEO: Digital services taxes in Europe would end up costing our customers

Expedia's chief executive officer warns against European countries taxing tech services. France passes a 3% tax on big tech companies' digital revenues in July, defying the Trump administration. The UK is planning a similar tax. CEO Mark Okerstrom says the taxes could hurt the company's third-quarter reports. Expedia's chief executive officer warned against European countries taxing big tech companies' digital […]

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Amazon could miss on guidance for this quarter, BMO analyst warns

BMO says it thinks Amazon's third quarter operating income forecast"will come in below consensus." "We do not believe consensus properly reflects the fact that 3Q is often a heavy investment period and continued investment in one-day shipping," BMO says. Despite the caution, BMO told investors to buy"any pullback" in the stock if the forecast does come in lower than expected. […]

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This new business from Amazon represents a '$100 billion opportunity,' Morgan Stanley says

Amazon plans to launch Project Kuiper, a network of 3,236 small satellites to create an interconnected network that beams high speed internet to anywhere on Earth. Morgan Stanley estimates Project Kuiper represents as much as an"$100 billion opportunity." The firm's estimate is based on its expectation that the space economy will grow to more than $1 trillion over the next […]

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Marijuana Delivery App Crashes on Pot Industry’s Black Friday

It’s as if Amazon or any other online shopping site were to crash on Black Friday. Eaze, the app that delivers cannabis, experienced technical difficulties on Saturday — also known as 4/20, the marijuana industry’s unofficial holiday. Eaze: Marijuana Delivered “Our servers are undergoing maintenance, and we’re working hard behind the scenes to restore service,” the company’s website said. Disappointed […]

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A Luxury Home Firewall Could Save This Neighborhood From Amazon’s HQ2

Amazon’s development partner in the Crystal City section of Arlington, Va., has a solution to preserve affordable housing: surround the new headquarters with a firewall of luxury apartment towers. That way, the theory goes, the affluent won’t push into less-expensive enclaves nearby. Two miles away, Sarah Ashton is already feeling the pressure to sell her 12-unit apartment building in the […]

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Ken Griffin Says Amazon Exit Damped His Interest in NYC Headquarters

Billionaire Ken Griffin said he’s less likely to move Citadel’s headquarters to New York City in the wake of Amazon.com’s decision to abandon plans to expand into Queens. “Amazon opting out of New York is heartbreaking,” Griffin said Thursday in an interview with David Rubenstein on Bloomberg Television. The hedge fund manager said he was contemplating shifting his main office […]

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NYC’s Amazon Negotiator Laments What Might Have Been

Amazon.com Inc. was chased out of New York by politicians and media coverage that inaccurately described the government incentives underlying the deal, according to a city official who played a key role in forging the agreement that fell apart last week. James Patchett, president of the city’s Economic Development Corp., made clear that he was still smarting from the deal’s […]

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