Share

The Week in Business: What the Midterms Mean for Taxes, and Amazon’s 2 New Homes

Facebook claims to have won its latest battle against fake news. Its “war room” of employees working around the clock to fight false news stories collaborated with the F.B.I. last week to thwart a Kremlin-backed group of trolls that had meddled in the 2016 election. As a result, Facebook says, the midterms were relatively free of smear campaigns from foreign entities, at least on its platforms. But are Facebook’s efforts sustainable — and are they enough? The network also released an independent report on its role in deadly hate crimes in Myanmar, and admitted that it “can and should do more” to prevent “being used to foment division and incite offline violence.”

After a yearlong (and much-publicized) quest to find a home for “HQ2,” Amazon may split its second headquarters between two new locations. The two are expected to be New York City — namely, the Long Island City neighborhood in Queens — as well as Crystal City in Arlington, Va. (In other offline news, an Amazon toy catalog — in print! — is scheduled to thump on your doorstep this month.) Meanwhile, Google is quietly buttoning up a deal to grow its Manhattan footprint, potentially adding space for more than 12,000 additional workers. The company also announced an overhaul of its sexual misconduct policy.


Nov. 11–17

On Monday, economic leaders from 21 nations will gather for the weeklong Asia-Pacific Economic Cooperation summit in Papua New Guinea. China will have a flashy presence, literally, as it given tens of millions of dollars for a swish renovation of the summit’s convention center, as well as the country’s main highway. Mr. Trump, who made his “America first” stance clear at last year’s APEC meeting, will not attend; instead, he’s sending Vice President Mike Pence. Which is just as well, perhaps, since the convention’s hottest topics will include trade and climate change, and the president’s views on these issues are not winning the United States many friends these days.

On Thursday, the United States International Trade Commission will submit a report to Mr. Trump on the impact of his United States-Mexico-Canada Agreement on the economy and American consumers. This replacement of Nafta needs congressional approval to pass, which may be tricky now that the Democrats are about to have a majority in the House. The agreement focuses mainly on new rules for exporting cars, dairy products, wine and pharmaceutical drugs, but critics worry that some provisions will backfire. Auto production is one concern: If the deal makes this more expensive, it could raise prices for American car buyers and give incentives to manufacturers to move production elsewhere.