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NYC skyscraper plan requires big federal funds

Jan 14, 2025 - businessinsider.com
The article discusses the challenges and developments in the business and tech sectors. It highlights plans for a new skyscraper in New York City, which would be the tallest and most expensive in the US, and the associated challenges of financing and the return-to-office (RTO) debate. The developers aim to secure federal funding by improving nearby infrastructure, with the Trump administration having the final say. The article also touches on the difficulties companies face in getting employees back to the office, using WPP as an example of internal resistance and stock impact.

In tech, Amazon CEO Andy Jassy has appointed a new "shadow" advisor, while President Biden's new chip export restrictions could affect Nvidia's sales and innovation. Microsoft is forming a new AI group to advance its platform and tools. In business, Gen Z's shift away from alcohol is creating new opportunities for restaurants and clubs, and Elon Musk's X is expanding its lawsuit against advertisers. Additionally, the FTC is investigating Publishing.com for its AI-generated book courses. The article concludes with various news briefs, including the impact of Los Angeles fires and upcoming Senate hearings.

Key takeaways:

  • Plans for a new skyscraper in New York City highlight challenges in the return-to-office debate and involve federal funding considerations.
  • Energy stocks are outperforming the S&P 500 due to a rebound in oil and gas prices.
  • Amazon CEO Andy Jassy has a new "shadow" advisor, Alex Dunlap, who will play a significant role in company meetings.
  • Gen Z's shift away from drinking culture is creating new business opportunities for restaurants and clubs.
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