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Amazon Cancels NYC Campus Plan

The internet giant faced local opposition over more than $2 billion in subsidies

The internet giant has said it will not build a new headquarters in Long Island City after facing local opposition over more than $2 billion in subsidies it had been promised. Professor Ari Ginsberg from NYU's Stern School of Business thinks it's a lost opportunity. On Wall Street, there was a a bit of a downturn in the market. Cary Leahey from Decision Economics in New York told us it was down to a report about a drop in retail sales.

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