Money

8 cities fit for Amazon's second headquarters

Why Amazon is buying Whole Foods When Amazon announced plans to open a second headquarters in North America last week, cities were quick to express interest in hosting its new facilities. Mayors from Toronto to Tulsa, Oklahoma rushed out responses, calling their cities prime candidates. “This is a transformational opportunity unlike any that we’ve ever seen,” Pittsburgh Mayor William Peduto said in a statement. It’s no surprise cities would clamor at this possibility; after all,Amazon will spend billions ofdollars developingthe headquarters and hire 50,000 workers. While many would love to ...

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China to U.S.: Please stop sending us your junk

Containers ships in Qingdao port, China. For decades, shipping containers have been loaded with American scrap and waste and dispatched to China for recycling. It’s a $ 5 billion annual business that is now in danger of sinking. Beijing notified the World Trade Organization in July that it plans to ban the import of 24 varieties of solid waste, including types of plastic and unsorted paper commonly sent from the U.S. China said that the ban would take effect from September, giving American companies little time to prepare. ISRI estimates ...

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Diamond miner's shares crash as Tanzania seizes exports

Most diamonds in the world are cut here Shares in a London-listed mining firm fell as much as 24% on Monday after officials in Tanzania prevented it from exporting diamonds from the east African country. Petra Diamonds said in a statement that a parcel of 71,600 carats of diamonds from its Williamson mine in Tanzania had been seized by the authorities, apparently because of a dispute over their value. The company was planning to ship them to its offices in Antwerp, Belgium — the center of the global diamond trade. ...

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China wants to ban gas and diesel cars

What’s the difference between electric and electrified cars? China is preparing to put the brakes on gasoline and diesel cars. The country, home to the world’s largest auto market, is working on a plan to ban the production and sale of vehicles that rely on fossil fuels, officials say. The Chinese government is following in the footsteps of countries like India, France, Britain and Norway, which have already announced plans to completely ditch gas and diesel cars in favor of cleaner vehicles in the coming years. Related: Ford will create ...

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Miami's main airport doesn't know yet when it will reopen after Irma

See Hurricane Irma’s wrath hit Florida Florida’s largest airport is picking up the pieces after taking a hit from Hurricane Irma — and it’s unclear when it’ll be up and running again. Miami International Airport will be closed Monday after sustaining “significant water damage throughout,” according to CEO Emilio Gonzalez. The airport tweeted late Sunday that it needs to assess the damage before deciding whether passenger flights can resume Tuesday. Miami airport’s difficulties add to the transportation chaos Irma has inflicted on Florida residents. The situation is a particular headache ...

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At the Miami Herald, newsroom turns into shelter for reporters and their families

Deadly storm surge next for western Florida Sleeping bags littered the newsroom. Mattresses lined conference room floors. A tent was erected in a far-off corner. As Hurricane Irma made landfall in south Florida, the offices of the Miami Herald played dueling roles: a working newsroom and a shelter for journalists and their families. “We told people if they had nowhere to go, to come here,” Rick Hirsch, managing editor of the Herald, told CNNMoney. “If you intend to bring a pet, the official policy was don’t talk to me about ...

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The U.S. has been hit by two giant hurricanes. Here's the financial toll

Deadly storm surge next for western Florida One monster hurricane can cause serious economic damage. So what happens when two massive storms hit the U.S. within two weeks of each other? Hurricane Harvey decimated parts of Texas and damaged southwest Louisiana when it hit the region late last month, destroying billions of dollars worth of property. Now, Hurricane Irma is tearing through Florida. Both storms will be extremely costly. RMS, a catastrophe modeling company, estimates that Harvey has caused between $ 25 billion and $ 35 billion in losses that ...

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Cruise ships race to Caribbean to help Irma victims

Irma approaches Florida as Category 3 storm Cruise ships are heading for storm-ravaged islands in the Caribbean to help with rescue efforts. Royal Caribbean announced this weekend that it will dispatch two ships to St. Thomas and St. Maarten, two islands that were hit hard by Hurricane Irma. Norwegian Cruise Line is sending one ship to St. Thomas to pick up about 2,000 people late Monday who couldn’t get off the island before the storm. Irma made its way up the west coast of Florida Sunday as a Category 4 ...

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'It' breaks box office records with monster opening weekend

SPOILER ALERT: The etiquette of tweeting plot twists “It” made a killing at the box office. The new adaptation of Stephen King’s classic novel brought in an estimated $ 117.1 million for Warner Bros. and New Line Cinema at the North American box office this weekend, its first in theaters. That is the largest opening for a film debuting in September, nearly $ 70 million more than the previous record. According to Warner Bros., it is also the largest opening for a horror movie ever. “It” was also the third ...

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Hurricane Irma hits Florida; Apple's big event; Galaxy Note 8 hits stores

Wrath of Hurricane Irma on the Caribbean 1. Hurricane Irma takes a toll: The massive, powerful storm started to make landfall in South Florida on Sunday morning. Economists expect Irma’s affect on the Florida economy to be severe. The hurricane forced two of Florida’s nuclear power plants to close last week and led to gas shortages at the pump. The shortages were caused by damage to oil refineries after Hurricane Harvey and the fact that Floridians were eagerly filling up their gas tanks to drive away from Irma. Related: Hurricanes ...

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