City New York Financial News

05.07 / 19:55

UPS Citi Amazon Racing Software New York City Starts to Regulate AI Used in Hiring Tools

Employers are preparing for a new law going into effect Wednesday in New York City that will be the first in the nation to regulate the use of automation and artificial intelligence in hiring decisions. The law, known as NYC 144, requires employers that use certain kinds of software to assist with hiring and promotion decisions—including chatbot interviewing tools and resume scanners that look for keyword matches—to audit those tools annually for potential race and gender bias, and then publish the results on their websites.

05.07 / 19:47

UPS Citi Platform Subway Fastenal City Streets Are Gross, but You Can Still Wear Sandals—if You Choose Them Carefully

SOME YEARS AGO, a traumatizing encounter with a New York City rat provoked Nicole Vassallo to swear off wearing flimsy, strappy sandals on urban streets. Once a sewer-dwelling rodent comes dangerously close to scampering over your nearly nude feet, “you quickly realize exposed toes—flat on the ground—are not the way to go," said Vassallo, a 32-year-old luxury-travel publicist who lives in Manhattan. It’s not just gutsy vermin that can make cities objectively disgusting.

05.07 / 18:07

UPS Gap Oil: U.S. crude closes gap with Brent, exports make it look superior of the two

Investing.com — U.S. crude jumped Wednesday while prices for Brent remained lame. On the surface, it was a catch-up to the previous session when the international benchmark was up strongly while U.S. markets were closed for the 4th of July holiday. But a closer look at export numbers suggest a trend may be forming.

04.07 / 17:47

IPO Reuters NASDAQ JPMorgan Chase Shein IPO: Firm in talks with banks, exchanges for listing, says report

China-founded online retailer Shein is in talks with at least three investment banks about a potential U.S. initial public offering.

04.07 / 17:45

IPO Reuters NASDAQ NYSE JPMorgan Chase Shein in talks with banks and exchanges about U.S. IPO-sources

By Echo Wang and Anirban Sen

04.07 / 16:01

FIVE Waters Extreme CEO Discover letter Titan sub tragedy: ‘You are going to kill someone', ex-employee’s letter to CEO emerges

The Ominous details regarding the safety of the onboard passengers of ill-fated Titan submersible that killed all five including OceanGate Expeditions CEO are emerging weeks after the tragedy that took place near the Titanic wreckage in the North Atlantic Ocean. The New Yorker has published an email of a former employee of OceanGate Expeditions which he wrote to ex-associate years ago with concerns about the potential failings of the submersible and an ominous warning about its CEO Stockton Rush about his reckless pursuit of personal glory. “I don’t want to be seen as a Tattle tale but I’m so worried he kills himself and others in the quest to boost his ego," David Lochridge wrote about OceanGate CEO Stockton Rush, reported CNN.

04.07 / 15:19

UPS Provident Booking MSCI CoStar negotiations Office Turmoil Roils Ground-Lease Negotiations

For over a century in New York, commercial-property investors have carved up the value of the city’s skyscrapers by separating the land from the building and trading the pieces separately. But now, in the midst of one of the worst office downturns since World War II, that practice is escalating disputes between the owners of the different pieces. Under ground-lease arrangements, the building operator pays rent to the owner of the land.

04.07 / 12:13

regulation lending Bankruptcy creditors Creditors for bankrupt Voyager Digital billed $5.1M in legal fees

New York-based law firm McDermott Will & Emery filed for compensation of $5.1 million from the creditors of bankrupt crypto brokerage firm Voyager Digital. The bill is for legal services offered between March 1 and May 13, 2023.

04.07 / 11:09

UPS Career CEO TradFi CoinShares CEO: London must fix crypto-tradfi divide to catch up with New York

CoinShares CEO Jean-Marie Mognetti said that London’s lack of intersection between crypto and traditional finance might limit its potential to fully exploit opportunities in the emerging asset class.

03.07 / 14:37

SEC Southern Jail Finishing jail term for Ponzi, recidivist fraudster sold another: Feds

The U.S. Attorney’s Office last week charged a recidivist fraudster experienced in real estate scams with yet another Ponzi scheme. Wilson Baston of Brooklyn allegedly used an investment fund to claim he was deploying investor money to fund real estate transactions in New York.

03.07 / 12:38

UPS Microsoft NASDAQ DOW Fighting Apple Stock Market Dictionary: Your Guide to the Jargon

Bear market, correction, bonds—you don’t need to be working on Wall Street to know how these impact your investments and what’s happening to your money. If you’ve been looking at your brokerage account or 401(k) balance, it’s fluctuated a fair bit this year thanks to volatility in the stock market.

03.07 / 11:47

UPS Citi FIVE Subway recovery index The New York City Recovery Index: December 5

Editor's note: Below you'll find the week 118 release of the NYC Recovery Index, originally published December 6, 2022. Visit the NYC Recovery index homepage for the latest data.

03.07 / 11:47

Williams DOW Fighting ViacomCBS Forbes Meet the Billionaire Media Families Who Inspired the Hit TV Series 'Succession'

As HBO’s award-winning drama series Succession returns for its fourth and final season on Sunday, you may not realize that the show was inspired by families behind some of the biggest media empires.

03.07 / 11:46

UPS FIVE Microsoft Immunic Sotheby's, Christies Post Record Annual Sales, Defy Weak Economy

Auction houses specializing in the sales of expensive art and collectibles registered record revenue this year, defying a global economic downturn as rebound from pandemic-era shutdowns.

03.07 / 11:46

Lowe's FIVE Booking Google Apple Ray Dalio on the Latest Addition to His ‘Principles’ Series, and How to Invest Today

Ray Dalio, legendary investor and New York Times bestselling author, has some advice for investors for what could be a choppy year—and why diversifying your portfolio can reduce your risk by about 80%.

03.07 / 10:05

Citi Reuters Booking Ripple Ball CEO Airlines United CEO apologizes for flying private jet while the airline delayed, canceled thousands of flights

Former United Airlines CEO Oscar Munoz discusses a government report blaming airlines for cancellations, retention in employees, and his new book, «Turnaround Time.»

02.07 / 21:23

Waters Pool Nathan's Hot Dog Eating Contest 2023: Here’s everything about its timings, rules, prizes and more

Nathan's Hot Dog Eating Contest 2023 is sure to witness participation in large numbers on the Fourth of July holiday. The annual American hot dog eating competition makes the occasion full of joy at a time when many bonfires, fireworks, county fairs, pool parties and barbecues are held.

01.07 / 21:05

MET BAY Bobby Bonilla Day: Why does New York Mets star Bobby Bonilla gets $1.2 million on July 1?

Bobby Bonilla, a former New York Mets star who retired in 2001, receives a check worth $1,193,248.20 from the Mets. This arrangement will continue until 2035 when Bonilla turns 72. The ongoing payments stem from a deferred contract buyout agreement made between Bonilla and the team in 2000, ensuring he receives a significant sum for a period of 25 years.

01.07 / 05:49

Man Austrian artist Gustav Klint's painting fetches $108mn at London auction

Klimt sold Tuesday for 85.3 million pounds ($108.4 million), making it the most expensive artwork ever auctioned in Europe. 'Dame mit Facher' — Lady with a Fan — sold to a buyer in the room at Sotheby's in London after a 10-minute bidding war for a hammer price of 74 million pounds ($94.35 million). The higher final figure includes a charge on top of the sale price known as the buyer's premium.

30.06 / 13:27

Citi BTC CEO coinbase Bitcoin Rise in Salaries Paid in Bitcoin as Employees Opt for Crypto Amid Economic Uncertainty

Human Resources industry executives have noted that employees are willing to receive their salaries in Bitcoin (BTC), given the current hyperinflation and political conundrum in many regions worldwide.

30.06 / 13:06

UPS Binance Digital SEC Platform coinbase Coinbase sued by SEC for breaking U.S. securities rules as regulator crackdown expands

The Securities and Exchange Commission sued Coinbase Global Inc. in federal court in New York on June 6, alleging the crypto firm for years broke its rules.

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