Category: economic slump

Amazon Pauses Headquarter Construction in Virginia After Revenue Losses

March 4, 2023
AmazonBusiness & MarketsCompanieseconomic slumpeconomyheadquartersstaff layoffsTechTech NewsUS
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Amazon has decided to pause construction activities at its second headquarters in Arlington, Virginia, following a poor 2022 financial performance that saw the company register over $2 billion in losses. The Seattle-based e-commerce giant is developing its Arlington base, HQ2, in two phases—the Met Park and PenPlace. The company has decided to pause construction in…

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EU Unveils Plan to Cut Dependency on China, Others

May 5, 2021
ChinaChina Business & EconomyCOVID-19 pandemiceconomic slumpEuropeindustrial strategysupply chainWorld
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BRUSSELS —The European Union unveiled on Wednesday a plan to cut its dependency on Chinese and other foreign suppliers in six strategic areas like raw materials, pharmaceutical ingredients, and semiconductors after the pandemic-induced economic slump. The 27-nation bloc outlined the urgency of the task citing Europe’s reliance on China for about half of 137 products…

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