Amazon announced Thursday it has cancelled plans to build an expansive campus in The Big Apple after facing a fierce backlash from lawmakers, progressive activists and union leaders, who contended the tech giant did not deserve nearly $3 billion in government incentives. The decision was an abrupt turnabout by Amazon after a much-publicized search for a second headquarters, which had ended with its announcement in November that it would open two new sites — one in Queens, with more than 25,000 jobs, and another in Virginia. The agreement to lure Amazon to Long Island City, Queens, had stirred an intense debate in New York regarding the use of public subsidies to entice wealthy companies, the rising cost of living in gentrifying neighborhoods, and the city’s very identity.
Payless No More…
Discount retailer Payless ShoeSource announced it will close all of its approximately 2,300 stores when it plans to file bankruptcy again later this month for the second time in several years. Payless had been trying to find a buyer. After failing to find a deal, the Topeka, Kansas-based company has decided to initiate preparations to liquidate. There is still a small chance a buyer can be found however, in the mean time the company is preparing to run going-out-of-business sales at its shops in the next week. Payless filed bankruptcy once before in April 2017, and exited 18 months ago, with about $400 million in loans, after slashing its debt pile from over $800 million, according to court papers.
Asia: Asian stocks closed lower on Friday after E economic data from China sparked investors fear of a slowing global growth.
Europe: European index’s closed lower on Thursday as trade talks between The U.S. and /China have hit a snag.
U.S: U.S. markets closed lower after the release of a report showing weaker than expected retail sales. DJIA: -103.88 25,439.39 NASDAQ: +6.58 7,426.96 S&P: -7.30 2,745.73
Word of The Day:
A weighted index which tracks the US Dollar against a basket of other world currencies.
In Dinner or Drink:
Blue Cloud Cocktail
1 oz. amaretto almond liqueur
1/2 oz. Blue Curacao liqueur
2 oz. vanilla ice cream
1 oz. whipped cream
Pour the amaretto and blue curacao into a blender. Add vanilla ice cream. Blend until smooth. Pour into a brandy snifter, and top with whipped cream. Garnish with a maraschino cherry, and serve.