New York Financial News

Quicker and cheaper than its larger rival Bitcoin, Tron has overtaken its rival as a platform for crypto transfers associated with groups designated as terror organisations by the EU, Israel, the US and other countries, according to a Reuters analysis.

Harvard President Claudine Gay announced her resignation on Tuesday, merely six months into her tenure. The decision comes amid allegations of plagiarism in her academic work and scrutiny from congressional lawmakers over her handling of antisemitism on campus during the Israel-Hamas conflict. Claudine Gay, Harvard's first Black president, expressed the difficulty of her decision in a statement, noting, «This is not a decision I came to easily.» After consulting with the Harvard Corporation, she concluded that resigning is in the best interests of the institution.

New York Gov. Kathy Hochul has again vetoed legislation that would have changed the state’s wrongful death statute by letting families recover damages for emotional suffering from the death of a loved one

Federal prosecutors have told a New York judge that they will not proceed with a second trial of FTX founder Sam Bankman-Fried on charges not in the case presented to a jury that convicted him in November

New York’s minimum-wage workers have more than just the new year to celebrate

Wall Street started 2024 with a slump, giving back some of its powerful gains from the year before

New York City will ban vendors from the Brooklyn Bridge starting Wednesday

A new version of the federal student aid application known as the FAFSA is available for the 2024-2025 school year, but only on a limited basis as the U.S. Department of Education works on a redesign meant to make it easier to apply

Strains on U.S. consumer spending such as rising delinquency rates on credit cards largely indicate that Americans’ debt is returning to pre-pandemic levels, the head of President Joe Biden’s council of economic advisers said.

By Jonathan Stempel

As if there wasn’t a more convenient time in the year to do this, the New York Times chose the last week of 2023 to sue OpenAI for copyright infringement. Which is why instead of putting my feet up and relaxing, I had to fire up my computer to figure out whether this was the end of generative AI that so many were saying it was going to be.

Jeffrey Epstein is set to be disclosed. This revelation is anticipated to shed new light on the intricate web of sex trafficking orchestrated by Epstein, who met his demise in 2019, and his accomplice Ghislaine Maxwell. The disgraced millionaire was known for his associations with prominent figures from the realms of politics, business, and royalty. A court order has mandated the unveiling of court documents related to a lawsuit linked to Maxwell, the daughter of a British media tycoon. The lawsuit, filed by Virginia Giuffre, one of Maxwell's accusers, resulted in a 20-year prison term for Maxwell. Previously under seal, the identities in the lawsuit, often referred to as «J Doe,» will now be disclosed with their real names, totaling 187 mentions.

New Year's Eve concert at UBS Arena in Elmont, Billy Joel, the renowned Piano Man, reassured his Long Island audience that despite listing his $49 million Oyster Bay mansion, his ties to New York remain intact. Dismissing speculation about bidding farewell to the area, Joel emphatically stated, «Just because I’m selling that house doesn’t mean I’m leaving Long Island,» emphasizing his continued residence in Sag Harbor. Injecting humor into the conversation, the 74-year-old singer shared jestingly about his decision to sell his Centre Island estate, humorously remarking, «I’m just gonna spend a little more time in Florida like old Jewish guys from Long Island do.» He candidly acknowledged the challenging prospect of finding a buyer for his sprawling five-bedroom, eight-bathroom manor named Middlesea.

Miriam was losing hope. She had found an old undeveloped roll of film in a forgotten camera in a corner of her mother Goldie’s apartment in Brooklyn, N.Y., after the 92-year-old passed away. Her father Sigi had predeceased her mom. Sigi was a Holocaust survivor, a Polish Jew, who came to New York after the war, met an American girl and they made a life together.

Bengaluru: Last month, The New York Times filed a suit against OpenAI and Microsoft, alleging that their generative artificial intelligence (AI) tools—ChatGPT and Bing Chat (now rebranded as Co-pilot)—were built by copying and “using millions of The Times’s copyrighted news articles, in-depth investigations, opinion pieces, reviews, how-to guides, and more". While GenAI has captured everyone’s imagination and will continue to mature in the years ahead, the suit underlines the need for stronger global guard rails. Apart from copyright violations, there are fears of machines acquiring human biases and GenAI vapourizing millions of white-collar jobs.

Strains on US consumer spending such as rising delinquency rates on credit cards largely indicate that Americans’ debt is returning to pre-pandemic levels, the head of President Joe Biden’s council of economic advisers said.

PepsiCo is considering more than one executive for the role of president and chief executive officer for its India business, including a candidate from its global system, said executives directly aware of the developments. Earlier, PepsiCo India's current senior vice president and general manager, beverages, George Kovoor, was believed to be taking over the top role to succeed Ahmed ElSheikh. The developments follow PepsiCo's current president ElSheikh, who is expected to move to a global role within the company this year, making way for the leadership transition. Executives cited a combination of reasons for the recent developments.

On Dec. 31, 1975, I drove into Manhattan with a few friends to see the New York Rangers play at Madison Square Garden—“The World’s Most Famous Arena." We sat in the blue nosebleed seats and a cigar smoker a few rows down—yes, this was before they banned smoking indoors—would sometimes block our view with smoke rings. There were more fights in the stands than on the ice.

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Reuters reported. This is likely to be a temporary move but the “most significant" one as this is the first pullback of troops announced since the beginning of the war in October 2023. The military said in a statement on Monday that five brigades, or several thousand troops, were being taken out of Gaza in the coming weeks for training and rest.

Past Lives' will soon be available for live streaming in the US. Its makers are upbeat after it got a 96% critic approval rating from Rotten Tomatoes and earned the right to be one of 2023's top ten films by the American Film Institute and the National Board of Review. The film made its debut at the 2023 Sundance Film Festival before being launched in US theaters in limited release on June 2.