Amazon to Add Thousands of Tech, Corporate Jobs in Six American Cities

Amazon plans to create 3,500 new tech and corporate jobs in six cities nationwide, the company announced Tuesday.

Most of the company’s new hires will be located in Amazon’s New York office with the rest being added in Dallas, Detroit, Denver, Phoenix and San Diego, according to a press release. Amazon also announced plans to expand the six offices to accommodate the new hires.

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Commentary: TikTok is Just the First Chinese App the Trump Admin is Eyeing for Crackdown Over Spying

Two days after President Trump told reporters that he plans to ban TikTok from the United States, Secretary of State Mike Pompeo suggested in an interview with Fox News that executive action may soon be taken against many other apps owned by Chinese firms.

Trump remarked to journalists aboard Air Force One on Friday that he could ban TikTok “with an executive order,” suggesting that the president has made up his mind about the popular short video platform. TikTok, which is owned by Chinese tech conglomerate ByteDance, has been at the center of a months-long debate over whether the data that it collects from American users could be exploited by China’s government.

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New Durable-Goods Orders Rise Again in June

New orders for durable goods posted a second consecutive month of rebound in June, rising 7.3 percent following a gain of 15.1 percent in May. The two gains followed drops of 18.3 percent in April and 16.7 percent in March. If transportation equipment is excluded, new orders for durable goods increased 3.3 percent in June following a 3.6 percent rise in May. Durable-goods orders had been holding above the $200 billion level since May 2011 before posting sharp declines in March and April (see first chart). New orders for June are back above the $200 billion threshold, totaling $206.9 billion, but are still 21.9 percent below June 2019.

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Analysis: President Trump Was Correct About the Rapid Economic Rebound Post-Shutdown as Another 630,000 Americans Come Off Unemployment Benefits

Another 630,000 Americans came off continuing unemployment claims the week ending June 27, according to the latest unadjusted data from the U.S. Department of Labor, proving President Donald Trump is right about the economy rapidly recovering from the COVID-19 pandemic state-based shutdowns.

Since the week ending May 9, unadjusted continuing unemployment claims have dropped from 22.8 million to 16.8 million the week ending June 27, a massive turnaround of 6 million Americans who temporarily found themselves on unemployment benefits but then rapidly came off of it on a net basis.

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Google Selects Mississippi Site for First US Operations Center

Google’s first U.S. operations center is coming to northwest Mississippi.

The company announced Thursday it will lease a new 60,000-square-foot (5,574 square-meter) facility in Southaven, Mississippi, near Memphis, Tennessee. Google expects the site, which will provide customer and operations support to customers worldwide, to be operational by summer 2021.

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Amazon Says Email to Employees Banning TikTok Was a Mistake

Roughly five hours after an internal email went out Friday to Amazon employees telling them to delete the popular video app TikTok from their phones, the online retailing giant appeared to backtrack, calling the ban a mistake.

“This morning’s email to some of our employees was sent in error,” Amazon emailed reporters just before 5 p.m. Eastern time. “There is no change to our policies right now with regard to TikTok.”

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Wall Street Rises Again, Joins Worldwide Upswell for Markets

New York Stock Exchange

Wall Street joined a worldwide upswell by markets on Monday, as stocks push higher on hopes that the economy can continue its dramatic turnaround despite all the challenges ahead.

The S&P 500 was 1.59% higher in afternoon trading, following up on similar gains in Europe and Asia. The headliner was China’s market, which leaped 5.7% for its biggest gain since 2015, when it was in the midst of a bubble bursting. Treasury yields also climbed in a signal of rising optimism after reports detailed improvements in the U.S. and European economies.

The Dow Jones Industrial Average closed up 459 points, or 1.78%, at 26,287. The biggest companies once again led the way, and strength for Apple, Amazon and other tech-oriented titans helped push the Nasdaq composite up 2.21% toward another record.

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Tech Leads the Way as US Stocks Head for a Third Month of Gains

Stocks closed higher on Wall Street Tuesday, extending the market’s recent winning streak after another strong showing by technology companies.

The S&P 500 rose 0.4% and is on pace for its third straight monthly gain. The Nasdaq composite, which is heavily weighted with technology stocks, climbed to an all-time high for the second day in a row. Bond yields rose, another sign of increasing confidence in the economy.

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Stock Indexes Move Higher on Wall Street After a Shaky Start

Stock indexes are higher on Wall Street in choppy trading Monday as investors weigh the risks that rising coronavirus cases could pose to hopes for an economic recovery.

The S&P 500 rose 0.4% in midday trading after an initial slide of 0.6% following weakness in overseas markets as the global tally of infections approaches 9 million. The price of gold rose, a signs of caution in the market. Bond yields were mixed.

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Wall Street Veers Higher on Fed Plan to Buy Corporate Bonds

Stocks swung solidly higher on Wall Street in afternoon trading Monday after the Federal Reserve said it would begin buying individual corporate bonds, the central bank’s latest move to prop up volatile financial markets through the economic fallout of the coronavirus pandemic.

The S&P 500 was up 1% after being down as much as 2.5% shortly after trading began in New York. The gains followed sharp losses in Asia and more moderate ones in Europe. Worries were on the rise that new waves of coronavirus infections around the world could derail the swift economic recovery that Wall Street had seemed sure just a week ago was on the way.

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Wall Street Tilts Higher Again on Economic Recovery Hopes

Wall Street’s rally is spilling into a new week as most stocks continue to ride the high supplied by Friday’s surprisingly encouraging report on the U.S. jobs market.

The S&P 500 was up 0.5% in midday trading on Monday, bringing it back within 5.3% of its record set in February, as optimism strengthens that the worst of the coronavirus-induced recession may have already passed. Stocks that would benefit most from an economy that’s growing again were rising the most, but pullbacks for a handful of big tech stalwarts were keeping the market’s overall gains in check.

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Wall Street’s Rally Zooms Higher After Surprise Gain in Jobs

Stocks are rushing higher in morning trading Friday after a much better-than-expected report on the U.S. job market gave Wall Street’s recent rally another shot of adrenaline.

The S&P 500 was up 2.2% after the government said that U.S. employers added 2.5 million workers to their payrolls last month. Economists were expecting them instead to slash another 8 million jobs amid the recession caused by the coronavirus and the shutdowns put in place to stem it.

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Cinema Chain AMC Warns It May Not Survive the Pandemic

Movie theater chain AMC warned Wednesday that it may not survive the coronavirus pandemic, which has shuttered its theaters and led film studios to explore releasing more movies directly to viewers over the internet.

All of AMC’s theaters are shut down through June, which means the company isn’t generating any revenue. AMC said it had enough cash to reopen its theaters this summer, as it plans to do. But if it’s not allowed to reopen, it will need more money, which it may not be able to borrow.

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Ohioans Share Why Trump Support Among Black Voters is Soaring

The Washington Examiner revealed polling data this week that found President Trump has a 34% approval rating with African Americans. The Ohio Star spoke with four African American Trump supporters in Ohio and asked them why they support the President. State Representative Candidate Bobby Mitchell of Canal Winchester, Columbus entrepreneur Tyrone Jackson and Pastor Walter Moss of Canton gave their insights about the phenomena.

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AG Yost Tells OptumRx ‘We’ll See You in Court’ for Overbilling the Ohio Bureau of Workers Compensation Millions

Attorney General Dave Yost announced Monday he amended his lawsuit filed against pharmacy benefit manager (PBM) OptumRx, claiming the PBM excessively charged the Ohio Bureau of Workers Compensation for generic drugs. The overcharge totaled nearly $16 million. It is now “significantly more.”

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Senate Passes House Bill 2, a TechCred Bill That Caused Words Between the Two Legislative Leaders

COLUMBUS, Ohio – Last week the Speaker of the Ohio House and the Senate President exchanged a few words via the media. The Speaker expressed frustration that the House priority bills, House Bills 1 through 14, were not moving fast enough in the Ohio Senate. The most recent bill to cause Householder concern was House Bill 2. It passed the Senate Wednesday.

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Some Ohio Politicians Praise Lordstown Sale, Senator Portman Expressed Skepticism, Brown Says Union Support Necessary for Success

Most elected officials praised the reported sale of the Lordstown plant last week. Senator Portman expressed skepticism and Senator Brown told the new owners they needed to partner with the union if they wanted to be successful.

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General Motors Sells Lordstown Assembly Plant to an Electric Car Company

Auto maker GM announced Thursday that indeed – as President Trump tweeted in May – the Lordstown facility in Ohio would be sold and reopened to manufacturer the Workhorse electric vehicle called the Endurance. GM declared their intent to idle the plant a year ago, and shut the lights out on March 6th after 52 years of business. 

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Grocery Giant Kroger Continues Far Left March with New ‘Gender Fluid’ Customer Survey Option

A central Ohio Kroger shopper was shocked to read one of the questions on the online survey the company offers at the bottom of their receipts. The Ohio-based grocer has expanded the list of gender options from two, male and female, to four, including “gender fluid/non-binary” and “prefer not to answer.” It is not the first time Kroger has embraced far-left progressive sexuality.

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Opportunity Ohio Finds Right-to-Work States Dominate the Recovery, Ohio Not Among Them

Matt Mayer, president of the the pro-growth advocates Opportunity Ohio, crunched the numbers and graphed the results of private sector job growth in all the states and the District of Columbia. The news for Ohio, a compulsory union state, is that it continues to lag behind those states that have embraced worker freedom.

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Americans for Prosperity Exposes ‘Corporate Welfare Horror Show’ to Congress for Halloween

Americans for Prosperity (AFP) launched the latest installment of their Unrig the Economy campaign on Tuesday entitled “Corporate Welfare Horror Show.” AFP is continuing to encourage Congress to reject the reauthorization of the Export-Import Bank and “zombie” tax extenders.

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Lawyers and Lobbyists Likely to Have Income Tax Deduction Restored in Bill Giving Deductions to Teachers

When the biennium budget was passed in July, a last minute provision added in Conference Committee took away the Business Income Deduction (BID) from two specific groups – lawyers and lobbyists. The deduction may be returned thanks to Senate Bill 26, a bill originally designed to give teachers a write-off when they spend unreimbursed money for their classrooms.

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Ohio State Rep. Dick Stein Creates ‘Ohio Nuclear Caucus,’ Welcomes Ohio Nuclear Forum to Statehouse

COLUMBUS, Ohio – State Representative Dick Stein (R- Norwalk) announced the creation of the Ohio Nuclear Caucus on Tuesday. He also welcomed more than half a dozen nuclear experts to speak at the Ohio Nuclear Forum. Those experts provided an in-depth look at where nuclear power is today and where it could be soon with the proper policies in place.

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Opponents to Nuclear Bailout Start Television Ads to Combat Bailout Supporters Attacks

Ohioans Against Corporate Bailouts have been fighting House Bill 6, the “nuclear bailout bill”, passed by the Legislature in July. The group received permission to proceed on their petition drive the end of August. They are attempting to put the bill on the ballot in November 2020. On Sunday, they began their own television ad campaign to combat the ads being run by Ohioans for Energy Security, an organization trying to stop the referendum from getting to the ballot.

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National Unemployment Steady, Ohio Unemployment Ticks Up: Experts Weigh in on Ohio’s Economy

  Nationally the unemployment figures remained steady at 3.7%, but Ohio’s figure edged up a tenth of percent to 4.1. Several economic analysts have weighed in over the last few days to discuss the overall state of Ohio’s economy compared with the nation’s. Opportunity Ohio found, “Latest @BLS_gov job figures…

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President Trump and Prime Minister Morrison Celebrate ‘Promises Made, Promises Kept’ in Wapakoneta

Two countries played a key role in the building of the new Pratt Industries plant in Wapakoneta – Australia and the United States. Australian Prime Minister Scott Morrison and President Donald J. Trump, visited that new plant on Sunday. The opening of the recycled paper and cardboard plant represents, “Promises made, promises kept,” on the part of President Trump and Pratt Industries, which is owned by Aussie billionaire Anthony Pratt.

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Ohio’s Future Foundation Pushes Pro-Business Policies to Help All Residents Prosper

  YOUNGSTOWN, Ohio – Former Congressman Jim Renacci and Ohio’s Future Foundation (OHFF) were hosted by the Mahoning County Republican Party Tuesday evening.  The GOP group held a social for OHFF in their meeting room in Youngstown. Rick Barron, the Mahoning County Leader, announced that, ‘Tom (Weyand – OHFF’s Outreach…

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The Fed Lifts Rates for Third Time in 2018 and One More Raise Is Expected

The Federal Reserve on Wednesday raised a key interest rate for the third time this year in response to a strong U.S. economy and signaled that it expected to maintain a pace of gradual rate hikes. The Fed lifted its short-term rate — a benchmark for many consumer and business…

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Amazon: The World’s Most Dangerous Crony Capitalist

Amazon

by Rick Manning   The bedrock of American commerce – and of the broader capitalist experiment – has always been competition.  If you can build a better mousetrap, invent a longer-lasting light bulb or more efficiently churn out widgets (or in this case, clichés), odds are your endeavor will encounter success. It doesn’t…

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Report: Google And Mastercard Strike Secret Deal To Track Customers In-Store Purchases

by Kyle Perisic   Google and Mastercard have reportedly struck a secret deal to monitor users’ in-store purchases, to collect data on what Google ads have resulted in purchases. After years of negotiations, Google paid Mastercard millions of dollars for its customer data, Bloomberg reported Thursday, citing two anonymous sources. The two could…

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SEC Transaction Fee Pilot Program Could Save Big Money for Small Investors, Pensioners

SEC building

By Robert Romano   In March, the Securities and Exchange Commission (SEC) proposed a new transaction fee pilot that would “subject stock exchange transaction fee pricing, including ‘maker-taker’ fee-and-rebate pricing models, to new temporary pricing restrictions across three test groups, and require the exchanges to prepare and publicly post data,” according to the…

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Wisconsin and New Jersey are Among the States Looking To Copy Minnesota Model Of Using Federal Funds To Lower Insurance Premiums

Minnesota capitol

by Evie Fordham   Several states including Wisconsin and New Jersey are seeking to copy Minnesota’s model of federal reinsurance program funding that contributed to a 13-percent drop in premium rates in the state from 2017 to 2018. The Minnesota legislature adopted the program, which uses mostly federal funds to…

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Contrary to Nervous Nellie ‘Economic Experts,’ the Trump Economy is Booming with Elevated Aluminum and Steel Prices

Donald Trump

By Robert Romano   One of the conventional wisdoms to do with the tariffs and duties levied by the Trump administration on steel, aluminum and lumber is that they will lead to higher prices and inflation, hurting producers and consumers, thus stunting economic growth. For example, billionaire Charles Koch warned on July…

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Tribune Media Terminates Merger with Sinclair Broadcast Group, Files Lawsuit Alleging Breach of Contract

Tribune - Sinclair

by Nick Givas   Tribune Media Company killed its merger with Sinclair Broadcast Group on Thursday and filed a lawsuit against the media conglomerate, claiming breach of contract. Tribune is seeking financial compensation for losses it claims it suffered as a result of Sinclair’s breach of the merger agreement. Tribune is…

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Maverick Musk Eyes $72 Billion Buyout to Take Tesla ‘Private’

Elon Musk

Tesla CEO Elon Musk is considering leading a buyout of the electric car maker in a stunning move that would end the maverick company’s eight-year history trading on the stock market. In his typically unorthodox fashion, the eccentric Musk dropped his bombshell on his Twitter account, which he has used…

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The New York Stock Exchange Monopoly Set to Raise Fees to Access Trade Data

New York Stock Exchange

by Robert Romano   Government-created monopolies are not a new thing, and indeed there are times when Congress has determined that having a government charter for an authoritative, monopoly function can serve a valuable public need. Sometimes these are agencies. The Federal Reserve is tasked by Congress to control the money…

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Ivanka Trump to Shutter Fashion Line, Focus on Government

Tennessee Star

Reuters   President Donald Trump’s oldest daughter, Ivanka Trump, is closing her fashion line to focus her energies on advising her father’s White House, she said through a representative on Tuesday. Trump, whose fortune comes from real estate development, came into office carrying a broad family business portfolio that trades…

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Fiat Chrysler Names Jeep Boss to Replace CEO Stricken with Illness

Mike Manley

Reuters   Fiat Chrysler named on Saturday its Jeep division boss, Mike Manley, to take over immediately for Chief Executive Sergio Marchionne, who is seriously ill after suffering major complications following surgery. The carmaker said British-born Manley, who also takes responsibility for the North America region, will push ahead with…

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Google, Microsoft, Facebook And Twitter Reveal ‘Data Transfer’ Partnership

Google, Facebook, Twitter, Microsoft

by Eric Leiberman   Google, Microsoft, Twitter and Facebook are teaming up to provide users with the capability of transferring data across platforms and services, the latter two social media giants announced Friday morning. After heightened concerns over data utilization (even exploitation and manipulation), companies appear to be trying to…

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Hardly ‘Crumbs’: Cookie Maker Hires Five Workers, Raises Pay, Expands Production Under Tax Cuts

Joseph Semprevivo

by Rachel del Guidice   The overhaul of the tax code by congressional Republicans didn’t produce just crumbs for the business of a popular cookie maker based in Florida. The Tax Cuts and Jobs Act has meant hiring, raises, investment in new equipment, and expanded operations, he says. “It has had…

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Occupational Licensing Reform: A Bipartisan Blueprint for Helping Low-Income Workers

bureaucratic stamps

by Alex Muresianu   A new report from the University of Wisconsin-Madison comparing employment between Minnesota and Wisconsin after Minnesota raised its minimum wage found that Minnesotan workers saw a decline in employment, especially for young, inexperienced, and low-skilled workers, as employment in Wisconsin rose. Despite this evidence reaffirming that the minimum wage can hurt…

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Three Ways Milton Friedman Improved the Field of Economics

Milton Friedman

by Luis Pablo De La Horra   Milton Friedman is probably the most important free-market thinker of the twentieth century. His ideas in defense of capitalism and economic freedom had an enormous influence on the shift towards free-market policies that took place from the 1970s onwards. Countries like the UK, China,…

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President Trump’s Fuel-Efficiency Reality Check Revs Up the American Economy

automobile factory

by Derrick Hollie   Despite rampant speculation that President Donald Trump’s trade policy might increase some car prices, how his regulatory relief agenda may lower sticker prices and increase safety goes largely ignored. How did this happen? The Trump administration is revising the Corporate Average Fuel Economy standards imposed on automakers…

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