Category: Economy

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Economy News

What are the Negative Effects of the Amazon Headquarters?

Amazon is planning to open its second headquarters and it has turned this into a contest. At the moment, numerous states and cities are competing in order to win the Amazon headquarters. That is because Amazon has promised that H2Q will improve the prosperity of the city, just as it has happened to Seattle.

While it is true that Seattle’s economic state improved thanks to Amazon and more than 40,000 people received a job, there are also some negative aspects. Here are some of them:

Gentrification

In Seattle, the Amazon headquarters led to bigger rents and growing prices, and soon it became hard to afford a place to stay, which also hurt the culture of the city. “High demand and low inventory creates bidding wars and animosity among those who can’t even afford a starter home in the city they grew up in,” explained Kurt Schlosser.

The homeless population is rising and that is because more and more people can’t afford homes. This becomes clear if we take a look at a homeless shelter. For example, Mary’s Place, a non profit shelter, had 2,300 beds in 2010, and the number went up to 170,000 in 2017.

Traffic

With a booming tech industry, there is also more traffic. Congestion got a lot worse as the Amazon headquarters attracts thousands of new residents. Seattle became one of the worst cities when it comes to traffic and it was even placed in top 10 US cites when it comes to this.

Local businesses are shut down

While the tech industry might see an evolution, local businesses had to suffer in Seattle. Numerous coffee shops, restaurants or grocery stores went out of business, and this happened mostly in the neighborhood where the Amazon headquarters is located.

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Economy News

American Tower Corporation (AMT) Stock Formed a Descending Triangle

The stock of the American Tower Corporation formed a bullish descending triangle pattern with $153.53 target. If we take a look at the triangle pattern for the last six months, it is safe to say that the risk is not high for the company.

The worth of the company could grow to $4.94B if the price reaches $153.53. The descending triangle pattern can offer us a lot of information and it might be even more useful than the ascending one. We can tell that the average rise and decline is 47% and the throwback rates are 37% and 54%. The rate for up and down breakouts is 7% and 16%.

The stock for American Tower Corporation stock decreased for $1.92 (by 1.33%) during the last trading session. A the moment, the price reached $142.16. When it comes to shares that were traded, there are around 1.53M.

American Tower Corporation shares

We can take a look at the American Tower Corporation investors and how many shares they all own. For example Highland Cap Management has 17,500 shares, while Bbva Compass National Bank Incorporated manages to surpass it at 19,086 shares. Meanwhile Selkirk Management Ltd Liability Com owns 49,150 shares, and Whitnell And invested 0.07% of its portfolio.

Trb Lp invested 2,54% in American Tower Corporation, WHILE Silvercrest Asset Mngmt Gp Lc has 11,709 shares or 0.02%. Symphony Asset Mgmt Limited Co invested 10,762 shares or 0.16%. First Interstate Comml Bank reported that it has  0.05% invested.

If we take a look at the complete picture, we can see that 301 investors raised stakes, while 47 sold their shares. Additionally, 280 investors reduced holdings when it came to American Tower Corporation. There were reported 377.89 million shares, which is 0.11% less than the 378.31 million shares that were reported in 2017Q3.

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Crypto Economy News

Crypto Holders to Owe $25 Billion in Tax

A report given to us by Fundstrat shows that crypto holders will have hellfire to pay come tax day.

The crypto blast that drove the crypto market capitalization to more than $800 billion toward the end of 2017 has a revolting shadow. A bit of research by Fundstrat Global Advisers assesses that the crypto-fever point has come about US charge liabilities to the tune of $25 billion, which has put some additional weight on ‘holders’ to auction their assets.

On the 15th of April…

The Fundstrat report clarified that the speculators could see the crypto markets keep on dropping as crypto clients prepare for the 15th of April, which is the due date for documenting charges in the US this year.

According to a Reuters report, Fundstrat co-founder and head of research Thomas Lee said that they thought that offering pressures in crypto have been opened up by capital increases tax-related offering this year.

The $25 billion figure depends on 20% of the $168 billion in capital picks up that were assessed to have been earned in 2017 from crypto.

Fundstrat additionally expects that digital currency trades will have huge expense charges on the 15th. A few trades, including Coinbase, revealed net benefits of more than $1 billion a year ago. Trades are likewise anticipated that would auction some of their crypto resources so as to bring home the bacon.

How is Bitcoin affected

Notwithstanding Fundstrat’s bearish expectations in the running up to assess day, the report is effective on Bitcoin and different digital forms of money once tax day has passed, indicating an anticipated $20,000 BTC valuation by mid-2018 and $25,000 by the end of the year.

The news is a blended pack for Bitcoin holders, who have just experienced a somewhat harsh couple of months. After Bitcoin crested around $20,000 in mid-December of 2017, the coin has shed the greater part its value. At press time, a single BTC was trading for $6,726; its market top was generally $114 billion, down more than $200 billion from its December pinnacle of $327 billion.

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Economy

Nighttime lighting could cost New Brunswick municipalities more money

NB Power wants to increase its rates for night lighting, but its proposal is opposed by the Union of Municipalities of New Brunswick.

The organization denounces the tariff proposal that it considers unfair. “New Brunswick Power, in the current hearings on the 2018-2019 rates, is proposing a tariff that will have a revenue-to-cost ratio of about 195%, almost double,” said Margot Cragg, Executive Director of the Union des municipalités. .

In fact, according to the organization, the municipalities will get a lot more out of their pocket than the crown corporation, and the real payers will be the residents.

“It’s the residents in the municipalities who will pay with their taxes and who will lose if the municipalities can not provide the infrastructure used every day,” said Margot Cragg.

NB Power wants to increase its rates for night lighting, but its proposal is opposed by the Union of Municipalities of New Brunswick.

The organization denounces the tariff proposal that it considers unfair. “New Brunswick Power, in the current hearings on the 2018-2019 rates, is proposing a tariff that will have a revenue-to-cost ratio of about 195%, almost double,” said Margot Cragg, Executive Director of the Union des municipalités. .

In fact, according to the organization, the municipalities will get a lot more out of their pocket than the crown corporation, and the real payers will be the residents.

“It’s the residents in the municipalities who will pay with their taxes and who will lose if the municipalities can not provide the infrastructure used every day,” said Margot Cragg.

Richibucto will also feel the discomfort in case of new pricing upward.

“Now, there is one thing that is certain because at some point, depending on what it represents as cost, it will be necessary to make assessments to know how one responds to these needs, to these financial realities” says Roger Doiron, Mayor of Richibucto.

The quality of infrastructure and the provision of services could take a hit. The Union of Municipalities calls for equity among its members and NB Power.

“We told CESP:” You guys said there’s a principle that says the recipe-cost ratio should be about the same. “It’s clear that right now, what is being proposed is not following not your principle. What are you going to do? Asks Margot Cragg.

The Energy and Utilities Board (CESP) is giving itself until April to address the demand from municipalities.

By email, NB Power acknowledges the concerns of municipalities.

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Economy

Privatization of Hydro One: Court of Appeal agrees Kathleen Wynne

The highest court in Ontario has ruled that there is no evidence that Premier Kathleen Wynne or any of her ministers acted in bad faith by partially privatizing Hydro One.

The Court of Appeal upheld a previous decision dismissing a lawsuit against the province.

It was filed in 2016 by the Canadian Union of Public Employees, which accused the Liberals of abuse of power over the government’s decision to sell shares in the electricity distributor.

The union claimed that the sale of the electricity distributor’s shares had been completed with the purpose of rewarding companies that contributed to the Ontario Liberal Party’s fund.

Premier Kathleen Wynne has always defended herself by saying that the Ethics Commissioner had looked into the matter and found nothing wrong with his government.

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