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And that's not a bad thing at all, said Zhao Shiyuan, a professor at Beijing Technology and Business University. "Past coverage of traditional events like the soccer World Cup and the Olympics reached a stage of stagnation and failed to attract the younger generation."

And in an interview with Bloomberg Television on Tuesday, Summers said, "I don't think there was much justi?cation" in the Treasury's manipulator decision. "When you are propping up your currency, not running a trade surplus, you're not manipulating the currency on any definition that is understood and accepted in the ?nancial community."

Analysts said Alibaba's profit may have dropped due to the group's diversification that required investments in new business segments like media, entertainment and cloud computing.

Anbang bought the Waldorf from Hilton Hotel Group when there was a rise in Chinese investment in US real estate.

And it’s not just Seattle where Amazon is growing. In Boston, Amazon just confirmed plans for a new office lease, with room for 900 people working on Alexa, shipping logistics and other departments, according to The Boston Globe.