By Stephen Wilmot The Wall Street Journal Thu., Nov. 15, 2018 When the British people voted for Brexit, investors worried about London skyscrapers. With a draft Brexit deal finally on the table, it is regional shops that are actually taking the strain. Retail valuations fell 4.5% in the six month through September for British Land, which reported half-year numbers Wednesday. For Land Securities, which reported Tuesday, the decline was 2.5%. These are the U.K.’s two largest listed property owners, with a combined £27.7 billion ($35.97 billion (U.S.)) in real estate, mainly London offices and malls across the country. The Brexit vote in June 2016 caused sterling to plunge, pushing up the cost of imported goods. The same year the U.K. government jacked up the minimum wage. But the most intractable problem is the continuing Amazon effect: E-commerce allows retailers to reach consumers with fewer shops. Some U.K. retailers have gone bankrupt; many others are … [Read more...] about Amazon is bigger problem than Brexit for U.K. property
The governor and mayor are thrilled with Amazon. Ordinary New Yorkers just see higher rents and even more crowded subways. Peter Page Published 7:00 am CST, Thursday, November 15, 2018 Photo: Kaisersosa67 | Getty Images Photo: Kaisersosa67 | Getty Images Image 1 of / 1 Caption Close Image 1 of 1 Photo: Kaisersosa67 | Getty Images New York Is Giving Amazon a Helipad and New Yorkers Are Furious 1 / 1 Back to Gallery New Yorkers are infuriated the only infrastructure improvement they will see from the city’s deal with Amazon is apparently a helipad for Jeff Bezos and his lieutenants at HQ2 (and-a-half). It’s not the biggest item in the memorandum of understanding outlining … [Read more...] about New York Is Giving Amazon a Helipad and New Yorkers Are Furious
Sections SEARCH Skip to content Skip to site index Style Subscribe Log In Log In Today’s Paper Style | Everything on Amazon Is Amazon! Supported by The infinite retailer appears to be ushering untold numbers of stealth brands into your life, even as it plans to take over the East Coast. If you like Ween Charm, you’ll love Austin Mill! ByJohn Herrman Nov. 15, 2018 In 1618, an aspiring alchemist in Constantinople named Avedis created his first copper alloy cymbals. In 2018, a few hundred products from his brand, Zildjian, one of the oldest companies in the world, are eligible for Amazon Prime shipping, just like Hanes underwear or Xerox copiers or Bounty paper towels or Chanel perfume or an Eames chair or Colgate toothpaste or a brand-new PopSocket for your phone. There are vanishingly few types of consumer goods that you can’t buy, in some form, on Amazon. But it is missing plenty of brands. In … [Read more...] about Everything on Amazon Is Amazon!
Sections SEARCH Skip to content Skip to site index New York Subscribe Log In Log In Today’s Paper New York | Some New Yorkers Hate the Amazon Deal. Can They Stop It? Supported by The deal reached between Gov. Andrew M. Cuomo, Mayor Bill de Blasio and Amazon was constructed to blunt the veto power of local politicians. ByJ. David Goodman Nov. 15, 2018 The deal to bring Amazon to Long Island City, at a cost of more than $2 billion in government incentives, has sparked outrage in many corners of New York City, particularly in Queens, where residents and elected officials have vowed resistance. The anger is real: More than 100 people gathered Wednesday at a protest near the proposed site of Amazon’s new offices, where the company has promised to employ more than 25,000 people in exchange for tax credits, direct state grants and city tax incentives. “Stay the Helipad Out,” one sign read, a … [Read more...] about Some New Yorkers Hate the Amazon Deal. Can They Stop It?
A water taxi approaches the Long Island City waterfront and skyline, in the Queens borough of New York near where an Amazon corporate complex will be built. NEW YORK -- Much of the New York City neighborhood selected by Amazon for one of its new headquarters is in a federal "opportunity zone," a designation created by President Donald Trump's tax overhaul that offers developers potentially millions of dollars in capital-gains tax breaks to invest in high-poverty, low-income areas. Critics question whether Long Island City, the fast-gentrifying Queens neighborhood across the East River from the skyscrapers of Manhattan, needs such breaks. Median household income around Amazon's planned campus is $130,000 a year, poverty is half the city average and new buildings were going up long before the tax overhaul. "All you have to do is look at the skyline from Manhattan. You can see billions of dollars of private investment there already," said Don Peebles, a real estate developer based in … [Read more...] about Amazon’s pick ripe for tax break