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Yahoo
30-04-2025
- Business
- Yahoo
Amazon Plans to Build Dozens of US Warehouses in Rural Expansion
(Bloomberg) — Inc. plans to build dozens of warehouses to serve rural areas in the US before the end of next year, growing its footprint as the company works to rely less on other carriers. NYC Lost $9 Billion of Income to Miami, Palm Beach in Five Years New York City Transit System Chips Away at Subway Fare Evasion NYC's Congestion Toll Raised $159 Million in the First Quarter NJ Transit Urges Commuters to Work Remotely If Union Strikes The Last Thing US Transit Agencies Should Do Now The firm said it expects to have about 210 delivery stations up and running as part of a broad effort to establish a dedicated rural delivery network that began in 2020. It operated about 70 such facilities at the end of 2023, Amazon spokesperson Alexa Clark said, declining to specify say how many the company operates today. By the end of 2026, Amazon said, it will have invested $4 billion total in the project. The largest online retailer has spent the past decade building a massive logistics operation that includes hundreds of warehouses in and around major cities and a network of bespoke contractors that hire drivers who pilot blue Amazon-branded vans. Businesses across sectors have meanwhile faced pressure to announce US spending pledges since President Donald Trump returned to office in January, vowing to revive the economy and bring back American jobs. Major tech companies in particular, including Apple Inc. and Nvidia Corp., have laid out plans to spend hundreds of billions of dollars in the US. Amazon executives earlier this year discussed trying to make an announcement with Trump about the company's own US spending, Bloomberg has reported. For rural areas, Amazon historically handed off most of shipments to carriers like the US Postal Service or United Parcel Service Inc. UPS said this week that it expected to cut 20,000 jobs this year and close dozens of facilities as it reduces shipments for Amazon. The ecommerce giant estimates the rural network initiative will have created 100,000 jobs, including the direct employees who staff Amazon's warehouses and drivers who employed by contractors. Bloomberg reported earlier this month that Amazon was considering a $15 billion warehouse expansion, including delivery hubs, a move that would reverse the company's post-pandemic construction slowdown. Made-in-USA Wheelbarrows Promoted by Trump Are Now Made in China As More Women Lift Weights, Gyms Might Never Be the Same Why US Men Think College Isn't Worth It Anymore The Mastermind of the Yellowstone Universe Isn't Done Yet Eight Charts Show Men Are Falling Behind, From Classrooms to Careers ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
30-04-2025
- Business
- Yahoo
Copper Falls From Four-Week High as China's Manufacturing Slows
(Bloomberg) -- Copper retreated from its highest close since early April after data showed a retreat in China's factory activity, offering a sign of how trade conflict with the US is hitting Asia's biggest economy. New York City Transit System Chips Away at Subway Fare Evasion NYC's Congestion Toll Raised $159 Million in the First Quarter The Last Thing US Transit Agencies Should Do Now At Bryn Mawr, a Monumental Plaza Traces the Steps of Black History At the National Public Housing Museum, an Embattled Idea Finds a Home The official manufacturing purchasing managers' index dropped to 49 compared with 50.5 in March. That level was significantly weaker than economists expected, and means manufacturing switched from expansion — above 50 — to contraction as trade tensions spiked this month. Copper had staged a strong rebound over the past couple of weeks on signs of a significantly tighter market, with China's stockpiles plunging and import premiums surging. Analysts have attributed that to various factors, including a scrap shortage, a demand spurt from the country's solar sector, and the knock-on effect of a rush to ship the metal to the US. But they've also warned the bump could short-lived. Wednesday's factory data shows how the high-stakes stand-off between Beijing and Washington over tariffs is already starting to bite Chinese factories and threatening prospects for commodities demand. Copper fell 0.6% to $9,384 a ton by 10:55 a.m. Shanghai time, putting it on course for a loss of more than 3% in April after heavy losses at the start of the month. Aluminum and zinc also fell on the London Metal Exchange. Meanwhile, China's steel sector is still struggling, and iron ore futures in Singapore are poised for a third monthly decline. Prices dropped 0.4% to $98.10 a ton on Wednesday to be down 2.9% for April. Angang Steel Co., the nation's second-biggest steelmaker, posted its 11th consecutive quarterly loss, although its loss was 67% smaller year-on-year. --With assistance from Yihui Xie. Made-in-USA Wheelbarrows Promoted by Trump Are Now Made in China As More Women Lift Weights, Gyms Might Never Be the Same Why US Men Think College Isn't Worth It Anymore Eight Charts Show Men Are Falling Behind, From Classrooms to Careers The Mastermind of the Yellowstone Universe Isn't Done Yet ©2025 Bloomberg L.P.
Yahoo
25-04-2025
- Business
- Yahoo
Trump Says He Would Sign Bill Banning Congressional Stock Trades
(Bloomberg) -- President Donald Trump said he would 'absolutely' sign a bill banning congressional stock trading, saying he was concerned lawmakers could be using insider information for an advantage. Trump Gives New York 'One Last Chance' to End Congestion Fee Why Car YouTuber Matt Farah Is Fighting for Walkable Cities Backyard Micro-Flats Aim to Ease South Africa's Housing Crisis The Racial Wealth Gap Is Not Just About Money To Fuel Affordable Housing, This Innovation Fund Targets Predevelopment Costs 'I would be okay with it,' Trump said in an interview with Time Magazine that published Friday. 'If they send that to me, I would do it.' There has long been some bipartisan support for legislation that would limit how members of Congress could buy and sell stocks, as their access to classified intelligence and internal knowledge about the progress of lawmaking offers a leg up on others in the market. In 2020, a bipartisan group of senators drew fire for trading health care stocks after closed-door briefings on the coronavirus pandemic. The president specifically criticized former House Speaker Nancy Pelosi, who resisted legislative efforts to ban stock trading by members of Congress and their families during her time leading the chamber. Pelosi's husband, Paul Pelosi, made his fortune in real estate and venture capital in the San Francisco area, and critics have routinely highlighted instances where the couple's had successful trades. Democrats have directed similar questions toward Trump and his allies in the aftermath of his decision to announce and then largely pause his sweeping 'reciprocal' tariff program earlier this month. Trump posted on social media that it was a 'great time to buy' hours before announcing his reprieve, which prompted a massive market rally. House Democratic Leader Hakeem Jeffries, the New York Democrat who succeeded Pelosi, has said he supports a ban on lawmakers trading individual stocks, though there does not appear to be particular momentum around a bill. House Speaker Mike Johnson has not said he would pursue a trading ban. Federal law already prohibits members of Congress from acting on insider information, and the 2012 STOCK Act requires members to report their stock trades within 30 days. Still, that legislation only calls for a $200 fine if lawmakers fail to disclose a transaction. As More Women Lift Weights, Gyms Might Never Be the Same Why US Men Think College Isn't Worth It Anymore Eight Charts Show Men Are Falling Behind, From Classrooms to Careers India's 110% Car Tariffs Become Harder to Defend in Trump Era The Mastermind of the Yellowstone Universe Isn't Done Yet ©2025 Bloomberg L.P. Sign in to access your portfolio
