Amazon Bets on Office-Based Work With Expansion in Major Cities The e-commerce giant says it is adding 3,500 employees in six major cities, including 2,000 jobs in New York City The Wall St Journal has an exclusive piece on Amazon investment in downtown work. This in contrast to the general sense that Information Worker activity is moving away from downtown offices to home which could be suburbs or anywhere at all. They are adding 3,500 corporate jobs across the US. Amazon is preparing to add 3,500 corporate jobs across hubs in New York, Phoenix, San Diego, Denver, Detroit and Dallas, … Continue reading Amazon draw a line in the sand on post-pandemic “Work from Home”

China has a simple formula for addressing market concerns when the market goes the wrong way. Simply change the message and viola! See the bold quote below (bolding mine). … and yes we have land in Florida to sell to you. by CMC Markets, uk.investing.comJuly 16, 2020 09:34 AM While US markets finished higher for the fourth day in a row, markets in Asia have come under pressure after the latest economic data out of China painted a rather mixed picture of the economic outlook in the world’s second biggest economy. China Q2 GDP showed a 11.5% rebound, more than reversing the -10% … Continue reading While European Markets Slip Ahead Of The ECB, China has the answer

REPORT ON BUSINESS Bank of Canada sees economy shrinking 7.8% this year; holds rates steady The Bank of Canada projected that the Canadian economy will shrink by 7.8 per cent this year, as it crawls its way out of the deep hole of the COVID-19 crisis. The forecast, the central bank’s first in six months, came as the bank announced its latest policy decision, holding its key interest rate steady at a record-low 0.25 per cent and leaving its large-scale bond-purchase programs unchanged. The bank reinforced that it intends to keep both policies in place far into the economic recovery. … Continue reading Bank of Canada sees economy shrinking 7.8% this year; holds rates steady

in a move that happens to highlight the ‘Canadian way”, Canadas banks collectively suspended use of Facebook in July. Canadian lenders Royal Bank of Canada (TO:RY), Toronto-Dominion Bank (TO:TD), Bank of Nova Scotia (TO:BNS), Bank of Montreal (TO:BMO), National Bank of Canada (TO:NA) and Canadian Imperial Bank of Commerce (TO:CM) all said they will pause advertising on Facebook platforms in July. Desjardins Group, Canada’s largest federation of credit unions, also said on its website on Thursday it will pause advertising on Facebook and Instagram for the month “barring any exceptional situations where we need to communicate with our members or … Continue reading Facebook suspended by all Canadian Banks

An Uncertain Recovery Global growth is projected at –4.9 percent in 2020, 1.9 percentage points below the April 2020 World Economic Outlook (WEO) forecast. The COVID-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated, and the recovery is projected to be more gradual than previously forecast. In 2021 global growth is projected at 5.4 percent. Overall, this would leave 2021 GDP some 61⁄2 percentage points lower than in the pre-COVID-19 projections of January 2020. The adverse impact on low-income households is particularly acute, imperiling the significant progress made in reducing extreme … Continue reading A Crisis Like No Other

Forbes New Data Shows Shopify Was A Godsend For Mom And Pop During Coronavirus – Forbes 68-year-old Jan Buerge was days away from losing everything. For 35 years, she has run World’s Window in Kansas City, a store that sells artisanal items from around the world. In March, she was forced to close her doors because of coronavirus. But she didn’t give up. She just needed a plan, and fast. She snapped pictures of her remaining items. And quickly got them online with the help of her husband and nephew. Within three days, business was booming. Buerge was shipping baskets … Continue reading Shopify- simple for people and keeping the complexity hidden

fomc_fed-20200610 fed notes: my take — continue QE at same pace Financial conditions improved Monitor economy No action – back to the markets to evaluate June 10, 2020 Federal Reserve issues FOMC statement For release at 2:00 p.m. EDT Share The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The coronavirus outbreak is causing tremendous human and economic hardship across the United States and around the world. The virus and the measures taken to protect public health have induced … Continue reading Fed Implementation notes 2020-06-09