New York Financial News

Subscribe to enjoy similar stories.The people who gather in this small room on the eighth floor of the New York Stock Exchange look like a group of middle-aged caffeine addicts.They sit around what resembles a school science lab sniffing coffee beans and slurping coffee so aggressively that there’s loud music playing to drown them out.But these aren’t junkies with bad manners. They’re part of an elite team of graders who help keep the commodities market running. Their ratings help set U.S.

Subscribe to enjoy similar stories.American courts are not supposed to be venues for performance art. If counter-parties in a lawsuit do not have adverse interests—say, because they answer to the same person—judges balk. So when Donald Trump sued his own administration seeking $10bn in damages, the judge had questions.

Subscribe to enjoy similar stories.When Gil Hanse set out to renovate Aronimink Golf Club outside Philadelphia he made it his mission to restore it to its original, legendary designs from the 1920s. The decades had altered the course’s identity with everything from new trees to renovated bunkers. But Hanse was determined to understand what Aronimink really looked like a century ago.As Hanse sifted through archives, he soon made a surprising discovery: rare aerial photographs of Aronimink’s early days that diverged from old drawings of the grounds.

Subscribe to enjoy similar stories.MUMBAI: The US market regulator’s $18-million settlement of a civil case against Indian billionaire Gautam Adani and nephew Sagar Adani has no immediate bearing on a parallel criminal investigation initiated against them by the US Department of Justice (DoJ).The Securities and Exchange Commission (SEC) and the Adanis acknowledged that the settlement does not grant them immunity from any criminal liability related to the case, they said in their filings with a New York court.“This settles the civil action brought by the Securities and Exchange Commission. It has no implications for the existing criminal charges brought by the DoJ or any other criminal investigation that may be pending,” said Russell A.

Subscribe to enjoy similar stories.For the last few years, Jerome Powell would walk past a portrait of Arthur Burns on his way to his office, addressing him silently.I’m not going to be you.Burns, the Fed chair under Richard Nixon, embodied two failures: He allowed inflation to get out of control, and he yielded to a president who wanted lower interest rates.Powell faced both hazards—inflation and presidential pressure—and more during his eight years as chair. The Fed won broad credit for its novel pandemic response, took a share of the blame for the high prices that followed and confounded predictions by bringing inflation down without a recession.

Subscribe to enjoy similar stories.Air India on Wednesday announced that it would suspend or reduce flights on more than two dozen international routes between June and August, citing airspace restrictions and record-high jet fuel prices. Notably, the government recently increased jet fuel prices for international services while keeping them unchanged for domestic flights. The idea was to keep the bulk of India’s air traffic shielded from the rise in crude oil prices.

Subscribe to enjoy similar stories.This year’s Met Gala, the fancy-dress competition for the ultra-wealthy, was a memorable one. Not just because one of the world’s richest tech bros, Jeff Bezos, and his wife, Lauren Sánchez Bezos, served as honorary chairs—a first—but also because the evening of 4 May saw the largest Indian contingent yet ascend the steps of the Metropolitan Museum of Art in New York, with each attendee reportedly paying $100,000 to attend fashion’s most exclusive fund-raiser.Ananya Birla, Isha Ambani, Karan Johar, Manish Malhotra, Sudha Reddy, Natasha Poonawalla, Sawai Padmanabh Singh and Gauravi Kumari were in attendance, presenting their interpretation of the 2026 Met Gala dress code, “Fashion is Art”, which challenged guests to treat the body as a canvas, express their relationship with fashion “as an embodied art form and celebrate the countless depictions of the dressed body throughout art history”.Did the Indian contingent get the memo right? That depends on whether you believe fashion as art is best expressed through spectacle, symbolism or genuine risk-taking.

Subscribe to enjoy similar stories.It’s happening. California looks likely to put a ‘one-time’ tax of 5% on wealth above $1 billion on the ballot in November and polls suggest it could pass— despite opposition from some economists (not so surprising) and Democratic politicians (more so). Meanwhile, calls to tax the rich are resounding across the country, from New York’s proposed ‘pied-à-terre tax’ to Washington State’s first-ever income tax, imposed only on millionaires.As someone who has been arguing for more than a decade that these taxes are bad economics, I find all this disheartening.

Subscribe to enjoy similar stories.Private equity firm Recognize, which closed its second fund at $1.7 billion in June 2025, is scouting for bets in India that are niche-specific service providers for large-scale enterprises in the US, according to a top executive.“We're not only looking for these niche companies and seeking to scale them,” said Muthu Kumaran, partner and head of India operations at Recognize. “These companies can have a seat at the table with Fortune 500 companies because in cases, they have specialized offerings that are deeper than what traditional IT services providers would do.”The New York-based firm was founded by former Cognizant Technology Solutions Corp chief executive officer Francisco D'Souza alongside David Wesserman and Charles Philips.

Subscribe to enjoy similar stories.Last month, France did something that would have been unimaginable a few years ago; certainly before the outbreak of the Ukraine war, when US-led sanctions cut Russia off from the Swift payment system, the main messaging network that enables secure international financial transactions, and froze more than $300 billion of its assets. Its central bank, the Bank of France, pulled out its remaining gold reserves held in New York. Admittedly, no central bank today relies on gold to back its currency.

Subscribe to enjoy similar stories.MUMBAI: Alvarez & Marsal (A&M) plans to scale up its corporate finance team in India and expand into new sectors, as the New York-based consulting firm positions itself to capture a rise in dealmaking and sustained capital inflows into the country, senior executives said.The expansion comes amid a shift in global investor strategy towards long-term capital deployment in India, driven by strong underlying fundamentals, high-growth prospects and elevated public market valuations that are pushing deal activity, including cross-border transactions.“We are building a highly sector-specialized corporate finance team, that integrates seamlessly with the firm’s other offerings,” said Mohit Khullar, managing director and head of corporate finance at Alvarez & Marsal India.The firm’s corporate finance practice currently spans consumer, industrials, healthcare and pharma, with the recent addition of Nitin Lath as managing director for the sector.“We will specialize within pharma, with a strong focus on Indian branded formulations, niche generics and speciality pharma, as well as CDMOs (contract development and manufacturing organization) and APIs (active pharmaceutical ingredients),” Lath said. “The pharma industry is undergoing a period of transformation, with several players re evaluating their business models and actively pursuing large M&A opportunities, including cross border transactions across the US and Europe.”Khullar said the firm will also expand into additional sectors such as financial services and technology in the coming months.

Subscribe to enjoy similar stories.WASHINGTON—King Charles III arrives in Washington on Monday to publicly celebrate 250 years since a nascent U.S. republic ousted his forebears, and privately ensure that a fraying trans-Atlantic relationship can cope with another two-plus years of President Trump.The four day visit—billed as King Charles’s most high-wire diplomatic act since coming to the throne—will include a speech to Congress, the first time a British monarch has spoken there since 1991, a private audience with Trump and state dinner in Washington, as well as trips to New York and Virginia.The attempted attack at the White House Correspondents’ Dinner cast a shadow over the visit.

Subscribe to enjoy similar stories.This week, we’re bringing you stories about the financial impact of divorce.Olivia Kelly grew up watching her mother make her pizza and chicken enchiladas. Then, in middle school, her parents got divorced, and the kitchen transformed into a small business.Her mother went from stay-at-home mom to working parent with a handful of side hustles. The home-cooked dinners became workweek to-go meals that friends and their nannies would buy for around $35 apiece.As Kelly’s mother changed, so did she.

Subscribe to enjoy similar stories.Earlier this month, local business leader Tom Harris picked up eyedrops at a drugstore near his office without needing an employee to retrieve them from behind a locked plexiglass barrier. In that seemingly mundane act, he glimpsed evidence of the turnaround for New York City’s shoplifting epidemic.Harris, president of the Times Square Alliance, a Manhattan business group with some 2,600 members, said he once fielded several calls a day from retailers about their problems with theft.

Subscribe to enjoy similar stories.Over a small, private dinner of spinach soup, scallops and Diet Coke on Monday night, President Trump told the Dutch king and queen that he wants to bring the war in Iran to a swift end.The only way to get Tehran back to the negotiating table, Trump explained to his royal guests and Dutch officials at the White House dinner, was to increase the pressure, officials briefed on the dinner said.The Dutch government already had declined to help Trump with a blockade on Iranian ports, which it called “worrying” and an “escalation upon escalation.” Dutch Prime Minister Rob Jetten, who had seized on the monarchs’ visit to secure an invitation and speak to Trump, told the president that European allies would stand up an international coalition to help secure the Strait of Hormuz—but only after the fighting ended.“We agree to disagree,” Jetten told reporters afterward. The meal “was too short to convince each other, but long enough to get a better understanding of each other’s positions.”The dinner laid bare the conundrum before Trump as he tries to ratchet up economic pressure on Iran, even as he declared that the war is “very close to over.” While Trump said that he would be announcing “other countries” that will be involved with the blockade, none have stepped forward, and many have outright refused.

What I’m about to say was once obvious, yet it will seem less persuasive with each passing year: Bitcoin is nothing without its origin story. The story is that an unknown man whose real name was certainly not Satoshi Nakamoto created this cryptocurrency between 2008 and 2009 to liberate us from governments and banks. As Bitcoin’s value rose hundreds of times, it became public knowledge that he held about 1.1 million Bitcoin, worth over $120 billion US dollars at some point last year, and over $70 billion at the time of filing this column.

. in New York. The typical 20- to 30-year retirement can stretch to 35 years or more with an age gap.Even when families recognize that extended timeline, advisors say they often underestimate how costs evolve.“They don’t tend to think about the full cost of bringing up and educating children,” or the time it can take to fully launch them, said Dan Beckerman of Beckerman Institutional in Ocean Grove, N.J.That disconnect can have consequences.

HDFC Bank episode shows, ADRs remain a flashing alarm bell for FPI sentiment.In the early 2000s, Indian markets were marked by sharp information asymmetry, and remained relatively isolated from their global peers. For foreign investors at the time, these US dollar-denominated certificates traded in American exchanges opened a critical but often congested lane connecting to Dalal Street.Switch to present—the landscape has transformed.

Has economic forecasting ever seemed so fraught with risk? A mix of almost imponderable new possibilities made possible by AI and the unpredictable state of the world makes people who trade contracts on so-called prediction markets seem foolhardy. Still, spare a kind thought for those of us in the commentariat who must hedge our prophesying.Put aside for a moment how long the truce between the US, Israel and Iran will last. And, if it does, how to estimate the huge backlog of ships and tankers waiting to transit through the Strait of Hormuz and how long this will take to clear.

Bengaluru: At a time when global geopolitical tensions are making foreign investors cautious, Neo Alternative Asset Managers is doubling down on domestic credit with plans to raise ₹1,500-2,000 crore for its maiden real estate fund, its managing director Kaushik Desai told Mint in an interview. The category-II alternative investment fund (AIF) will largely offer credit to residential real estate developers across tier 1 and tier 2 cities, he said.Earlier this week, Neo Alternative Asset Managers said it had ventured into real estate, bringing aboard Kaushik Desai, Vinit Prabhugaonkar, and Vimal Jangla, the former senior leadership team at Walton Street India, to anchor its real estate investment platform.The three bring with them more than two decades of experience in real estate investing, asset management, and structured financing.

New York Magazine. Her piece moved from a day-care worker mocked for words like “juxtaposition” and “circumstantial” to a Moroccan writer accused within minutes of submitting work, to a business professor raised across Asia who said the English textbooks he learned from had given him precisely the kind of vocabulary people now associate with ChatGPT. The writers with autism she spoke to said this was not new.