All eyes on Chairman Powell as the Fed delivers its latest rate decision. Tom Keene, Jonathan Ferro, Lisa Abramowicz, Michael McKee & Romaine Bostick discuss the market implications with some of the biggest names from Wall Street.
Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek".
The market for trading cards exploded during the pandemic. A once-innocent hobby has been transformed by seven-figure valuations and fractional investment. How did this American pastime go so Wall Street?
The Fed’s New Dot Plot After Its June Policy Meeting
Key Takeaways From the Fed's Rate-Hike Decision and Forecasts
From Big Tech to Bank Stocks, Traders Brace for Fed Rate Hike
Most Shopify Investors Opposed CEO Power Gain, Glass Lewis Says
Spotify to Slow Hiring Plans, Cites Economic Uncertainty
Boris Johnson’s Ethics Adviser Quits After Suggesting UK PM Broke Code
Bannon Must Face Criminal Trial Over Jan. 6 Probe Obstruction
Top Democrat Seeks Probe on Use of Crypto in Retirement Accounts
Goldman Goes to Brooklyn Championing Program to Help Black Women
Review: A Winning Charmer in ‘Good Luck to You, Leo Grande’
Festival Founded By Dua Lipa's Father Decamps From Kosovo
Crypto Debt Can Be Trouble
Caterpillar and Boeing Show Headquarters Don’t Matter
Bond Market Spooks ECB Into Doing...Nothing
Sheryl Sandberg’s Wedding Expenses Are the Least of Facebook’s Sheryl Sandberg Problems
Lina Khan Has to Act Fast on Her Progressive Antitrust Agenda at the FTC
Janet Yellen Is Struggling at the Treasury Job She Never Wanted
Accused Buffalo Shooter Now Faces Potential Death Penalty
Morgan Stanley, Felicis Alums Raise $450 Million for Debut Fund
Japanese Firm to Tackle Dearth of Female Managers With Novel Bond
GM May Start Electric Hummer Sales in Europe as Part of Reboot
Ford’s Mustang Mach-E Profit Wiped Out by Commodity Costs
Chicago Taps Direct Cash Charity to Give Residents $500 a Month
How Many Bridges Does the Chesapeake Bay Need?
‘Train Fanatics’ Score a Win in California Battle Over Idled Tracks
Top Democrat Seeks Probe on Use of Crypto in Retirement Accounts
Coinbase's Chaotic Day of Job Cuts Follows Rapid Hiring Spree
Crypto-SPAC Deals Get Stuck in SEC Limbo as Token Demand Plunges
Amazon purchased a coveted 193-acre parcel of land just outside Round Rock, Texas, when it went on the market last fall.
The company has spent billions of dollars on real estate it plans to use for a new generation of multi-story warehouses. Now online sales growth is slowing.
The 193 acres just outside Round Rock, Texas, were coveted by some of the biggest developers in the US. Located a few miles north of the booming city of Austin, the raw parcel could be used for virtually anything given the state’s lenient land-use laws. So when the prominent Robinson family put the property on the market last year, there was strong interest from a range of real estate players, including home builders, private equity giant Blackstone Inc. and Prologis Inc., an industrial landlord that rents out warehouses across the country. But when the successful bidder emerged in October, it wasn’t a real estate firm. It was the world’s largest e-commerce company: Amazon.com Inc.
Starting about three years ago, the Seattle-based colossus quietly began searching for property in key US markets such as Southern California, Texas, Illinois, Florida and the Bay Area. Between 2020 and 2022, Amazon tripled the amount of built industrial space it owns in North America, according to company filings. Sometimes Amazon buys existing buildings, such as defunct call centers, but it also purchases bare land, of which the company acquired about 4,000 acres in the same period, says real estate researcher CoStar Group Inc. Amazon plans to use much of the real estate for a new generation of towering fulfillment centers that can store a wide variety of products close to customers in populous areas, according to people familiar with the strategy.