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In the near term, headhunters said the expansion by tech giants could squeeze tech start-ups a bit. The city, which has become a mecca for entrepreneurs, thanks to a diverse talent base and abundant funding, now boasts more than 7,000 tech start-ups, with fast growth in B2B, consumer web, health tech and fintech, according to Tech:NYC.

“These behemoths sell themselves. They have more staff and more recruiters. It might take some jobs away from start-ups because they’ll be more competitive in securing talent,” said Rob Samet, a recruiter at Madison Search Partners, which focuses on mid- to senior-level executives in sales, business development and account management.

Longer term, though, the expansion of tech giants in New York will be good for the city’s tech scene, as it would stimulate the growing tech ecosystem in the city.

Tatiana Becker, the founder of New York headhunting firm Niah Recruiting, recalls that when she moved from Seattle to New York in 2010, everyone asked, “Why take a tech job in New York?”

“Nobody wanted to move to New York, because it’s not a tech hub.” That’s changed, she said, noting that start-ups in the city tend to be rooted around dominant industries such as fashion, finance or real estate.

“I don’t feel like Amazon and Google will be a threat to start-ups. Seattle and the Bay Area have huge tech company headquarters and also many start-ups. I can confidently say that I think it will be a plus for New York City tech,” said Becker.

If anything, Amazon and Google’s expansion in New York could bolster more investing in start-ups, said Samet, noting that Google has a $3.5 billion venture capital fund, Google Ventures, while Amazon’s Jeff Bezos has a personal venture capital portfolio, Bezos Expeditions. Both companies invest in tech start-ups as well as other industries. Google Ventures has invested in Outdoor Voices, Uber, Jet, Nest and others, while Bezos Expeditions has invested in Makerbot, Nextdoor.com and Uber.

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Riot police and protestors clash over extradition

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Large crowds of protesters gathered around the local legislature as lawmakers postponed a debate on a legal change that’s been condemned by hundreds of thousands in the city. The protesters are vowing to stop a government plan to allow extraditions to mainland China, but the heart of the demonstration is the fight against the city ceding its autonomy to Beijing. Police threatened action and later fired tear gas at protesters.

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White House says will meet two-year ban deadline

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A Huawei logo displayed at a retail store in Beijing.

Fred Dufour | AFP | Getty Images

The White House Office of Management and Budget has told the U.S. Congress it will now meet a two-year deadline to ban federal contracts with companies that do business with Chinese telecom giant Huawei, part of a defense law passed last year, according to a letter seen by Reuters.

“Congress has made it clear in recent days the importance of implementing the law within the two years provided, and we will,” Russ Vought, the acting director of OMB, said in a letter to Senator James Inhofe, chairman of the Senate Armed Services Committee.

Last week the OMB had said it would need more time to implement the ban, which requires third-party suppliers and contractors to restrict their purchases and use of Huawei equipment.

But the White House reversed course after “recent conversations with Congress,” Vought said in the letter dated Wednesday.

“As we move forward to meet the statutory deadline without further delay, we will work with Congress to address any unforeseen issues that arise,” Vought said.

The ban is one part of a multifaceted U.S. push against Huawei Technologies, the world’s largest telecoms network gear maker, which Washington accuses of espionage and stealing intellectual property.

Huawei has repeatedly denied it is controlled by the Chinese government, military or intelligence services. It has filed a lawsuit against the U.S. government over the restrictions in the defense policy bill.

The defense law, called the National Defense Authorization Act (NDAA), placed a broad ban on the use of federal money to purchase products from Huawei, citing national security concerns.

It included a ban on direct federal purchases of Huawei equipment, which will take effect this year.

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‘I think I’d take’ damaging 2020 info rival from foreign agents

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President Donald Trump told ABC’s George Stephanopoulos that he would accept information on his 2020 opponent if it was offered by foreign operatives.

In an interview aired Wednesday, Trump presented a hypothetical situation in which “somebody comes up and says, ‘Hey, I have information on your opponent.’ Do you call the FBI?” The president went on to say, “I don’t think in my whole life I’ve ever called the FBI” and, “Give me a break. Life doesn’t work that way.”

When Stephanopoulos challenged Trump, saying that the FBI director believes a person presented with potentially stolen information should call the agency, the president responded, “The FBI director is wrong.”

In a clip circulated on Twitter, Stephanopoulos pushed back on Trump’s insistence to take the information over calling federal authorities, but Trump held firm, saying a person could “do both.” 

“There’s nothing wrong with listening,” Trump said in a video from inside the Oval Office. 

When Stephanopoulos suggested a transaction of that kind could constitute election interference, the president disagreed. 

“It’s not interference. They have information. I think I’d take it. If I thought there was something wrong, I’d go maybe to the FBI,” Trump said.

The taped comments come on the same day the president’s son, Donald Trump Jr., testified before the Senate Intelligence Committee in a closed door hearing. Members were expected to grill him on his meeting with a Russian lawyer linked to the Kremlin at Trump Tower in Manhattan on June 2016. That lawyer claimed to have damaging information about Hillary Clinton, the then-presumptive Democratic presidential nominee.

Stephanopoulos: Your son, Don Jr., is up before the Senate Intelligence Committee today. And again, he was not charged with anything. In retrospect though-

Trump: By the way, not only wasn’t he charged, if you read it, with all of the horrible fake news- I mean, I was reading that my son was going to go too jail — this is a good young man — that he was going to go to jail. And then the report comes out, and they didn’t even say, they hardly even talked about him.

Stephanopoulos: Should he have gone to the FBI when he got that email?

Trump: OK. Let’s put yourself in a position. You’re a congressman, somebody comes up and says, “Hey, I have information on your opponent. Do you call the FBI? I don’t think-

Stephanopoulos: If it’s coming from Russia, you do.

Trump: I’ll tell you what, I’ve seen a lot of things over my life. I don’t think in my whole life I’ve ever called the FBI. In my whole life. You don’t call the FBI. You throw somebody out of your office, you do whatever you do-

Stephanopoulos: Al Gore got a stolen briefing book. He called the FBI.

Trump: Well, that’s different, a stolen briefing book. This isn’t a stolen- This is somebody that said, “We have information on your opponent.” Oh, let me call the FBI. Give me a break. Life doesn’t work that way.

Stephanopoulos: The FBI director says that’s what should happen.

Trump: The FBI director is wrong.

Stephanopoulos: Your campaign this time around, if foreigners, if Russia, if China, if someone else offers you information on opponents, should they accept it or should they call the FBI?

Trump: I think maybe you do both. I think you might want to listen. I don’t- There’s nothing wrong with listening. If somebody called from a country — Norway — “We have information on your opponent.” Oh. I think I’d want to hear it.

Stephanopoulos: You want that kind of interference in our elections?

Trump: It’s not interference. They have information. I think I’d take it. If I thought there was something wrong, I’d go maybe to the FBI, if I thought there was something wrong. But when somebody comes up with oppo research, right, they come up with oppo research. “Oh, let’s call the FBI.” The FBI doesn’t have enough agents to take care of it. When you go and talk, honestly, to congressmen, they all do it. They always have, and that’s the way it is. It’s called oppo research.

— CNBC’s Dan Mangan contributed to this report.

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