Economy of New York City bank with a permanent vote on the Federal Open Market Committee and its president is traditionally selected as the Committee's vice chairman. The bank also has the largest gold repository in the world, larger even than Fort Knox. Its vault is 80 feet (25 m) beneath the street and holds $160 billion worth of gold bullion. Silicon Alley, centered in Manhattan, has evolved into a metonym for the sphere encompassing the New York City metropolitan region's high tech enterprises involving the Internet, new media, telecommunications, digital media, software development, biotechnology, game design, and other fields within information technology that are
Concentration of media ownership Media Authority (ACMA). Even with laws in place Australia has a high concentration of media ownership. Ownership of national and the newspapers of each capital city are dominated by two corporations, Rupert Murdoch's News Corporation, (which was founded in Adelaide) and John Fairfax Holdings. These two corporations along with West Australian Newspapers and the Harris Group work together to create Australian Associated Press which distributes the news and then sells it on to other outlets such as the Australian Broadcasting Corporation. Although much of the everyday mainstream news is drawn from the Australian Associated Press, all the privately owned media