New York Financial News

Jay Mazini " who swindled millions of dollars from online followers and a network of Muslims during the pandemic was sentenced to seven years in prison on Wednesday, prosecutors said. Jebara Igbara, 28, of New Jersey, had pleaded guilty to fraud charges, admitting that he created a Ponzi scheme that involved cryptocurrency frauds netting around $8 million. Prosecutors say the money funded a decadent lifestyle that included luxury cars and a lot of gambling.

Arizona fake elector scheme to re-elect then-U.S. President Donald Trump in 2020, the state's attorney general said on Wednesday. The court papers list a «former U.S. president,» Trump, as an unindicted co-conspirator.

investors were right to back him as an agent of change, Modi’s Bharatiya Janata Party peppered its 2014 poll manifesto with 22 references to “reform.” Ten years later, very little remains of that zeal. The BJP’s 2024 manifesto still promises to “reform, perform, transform.” But the few specifics it offers on the economy are modest — such as automatic approvals for standard housing designs. Gone are the days when Modi pledged to change everything from inefficient markets in labor and farm produce to entire sectors like banking. And yet, the appetite for a third term for the Indian leader is very high in the global financial industry. “Modi has done an unbelievable job in India,” JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said Tuesday at the Economic Club of New York. Both Goldman and JPMorgan are predicting a deluge of overseas capital after general elections are over on June 4. (The BJP is favorite to win the contest.)

Temasek and US’ Fidelity are in advanced discussions to invest around $200 million in Lenskart through a secondary share sale at a valuation of about $5 billion, three people aware of the matter said. To put this in perspective, the round would take the homegrown eyewear company’s valuation to over three times that of Warby Parker, a New York-based online retailer for spectacles and contact lens. Warby Parker listed on the NYSE late in 2022 and has a market capitalisation of around $1.55 billion.

A Russian court sided with state-run lender VTB Bank in its efforts to recoup $439.5 million from JPMorgan Chase that the American lender froze in U.S. accounts after the Ukraine invasion.

Between the Temples' is set to hit theaters nationwide on August 23, 2024. Starring Jason Schwartzman and Carol Kane, the film has garnered high praise and anticipation for its wide release. Release Date

MTV VMAS 2024 or Video Music Awards date and venue have been announced. The 40th MTV Video Music Awards will be held at UBS Arena in New York on September 10, as per a report on Deadline. The VMAs are set to captivate audiences worldwide as they broadcast across MTV's extensive network of linear and digital platforms, spanning over 150 countries and territories. With a reported reach of 319 million households, the event promises to enthrall viewers from diverse corners of the globe, uniting music enthusiasts in a shared celebration of creativity and talent.

For millions of American workers, the federal government took two actions this week that could bestow potentially far-reaching benefits

U.S. stocks are drifting in mixed trading

Relentlessly rising auto insurance rates are squeezing car owners and stoking inflation

The Biden administration has finalized a new rule set to make millions of more salaried workers eligible for overtime pay in the U.S. The move marks the largest expansion in federal overtime eligibility in decades

Stocks that are trading heavily or have substantial price changes on Wednesday: Texas Instruments, Mattel rise; General Dynamics, Teledyne fall

NFL draft 2024 kicks off this Thursday and will continue up to Saturday. The top-notch NFL draft will see some player selections that will be record-setting, it seems, according to reports. NFL season 2024-25's drafting will be held in Detroit, US, for the first time ever. The trend of NFL drafting has seen it being hosted in New York City for almost fifty years.

Speaking at the Economic Club of New York on Tuesday (23 April), Dimon said the US was «booming» after 20 years of low growth caused by «bad reasons such as regulations, bureaucracy and stupidity and forced policies». With unemployment at an all-time low, US consumers are «in good shape», he said, even if they did have to endure another recession, adding that debt service ratios were «very low». However, he said this did not alleviate all economic headwinds to a soft landing. Dimon said that even if individual wealth was higher than previous years, this did not mean they could «fight ...

Economic Club of New York, Dimon highlighted PM Modi's achievements, including the extensive recognition system, widespread banking access, and significant poverty reduction initiatives. Dimon at the event said a lot of US government officials are “fantasizing... how we think they should be running their country".

The US Securities & Exchange Commission wants to impose a $5.3 billion fine on Terraform Labs Pte. and its co-founder Do Kwon, the inventor of the failed TerraUSD stablecoin. 

More people are using so-called Earned Wage Access apps to get money to pay bills and buy groceries in between paydays

An activist group says Google fired at least 20 more workers in the aftermath of protests over technology the company is supplying the Israeli government amid the Gaza war

New Jersey is incentivizing taxpayers who work from home for New York based employers to sue New York in court for taxing their wages

PepsiCo reported better-than-expected revenue in the first quarter on strong international demand for its snacks and beverages