New York Financial News

TOKYO—Big Japanese investors stumbled disastrously into the U.S. commercial real-estate market in the late 1980s, when they bought high-profile properties like New York’s Rockefeller Center not long before the market fell hard. Now some Japanese institutional investors and real-estate companies are back—but this time it isn’t about flaunting trophy purchases.

Happy New Year 2024:In the heart of Manhattan, New York, tens of thousands of excited revellers assembled in Times Square to witness the iconic descent of the illuminated ball at midnight. The eagerly anticipated event featured electrifying performances by renowned musicians such as Megan Thee Stallion and LL Cool J.

Gautam Adani's joint venture with Mumbai's slum rehabilitation authority has hired a global team to redevelop Dharavi, a key step in rebuilding one of Asia's biggest slums amid growing opposition to the project. Dharavi, about three quarters the size of New York's Central Park, is a crowded area that houses thousands of poor families in cramped quarters in the centre of India's financial capital. Many residents have no access to running water or clean toilets.

By Rich McKay

According to people speaking off the record to the New York Post, Morgan Stanley bankers’ biggest wish for the New Year isn’t for a bull market, a revival of SPACs or even a tiny bit of good news about their Elon Musk loan exposure.  They are hoping that when Ted Pick takes over as CEO, he will end the reign of terror over WhatsApp messages.

Who in finance is getting the biggest bonuses this year?

Taylor Swift, the global music sensation, has often portrayed a close relationship with her father, Scott Swift, emphasizing the significance of family in her journey to stardom. Born in Reading, Pennsylvania, on December 13, 1989, Taylor grew up in a supportive environment, with Scott, a financial advisor, being a consistent and encouraging presence in her life. However, recent developments have brought Scott Swift into the spotlight due to a controversial email that surfaced as part of an ongoing lawsuit filed by Daniel Dymtrow, a former manager of Taylor Swift. Dymtrow alleges being underpaid during his management of Taylor when she was 13, and the lawsuit claims verbal and written assurances of financial protection and support from the Swifts.

Four crypto tokens sold by Do Kwon and his co-founded company, Terraform Labs, has been qualified as unregistered securities. 

While most people spend the last week celebrating Christmas, Jason Zibarras, a 50-year-old former JPMorgan banker who founded Argo Infrastructure Partners a decade ago, was starting his new life in jail.

US state of Massachusetts, as reported by media sources. As reported by PTI, Norfolk District Attorney (DA) Michael Morrissey said on Thursday that the bodies of Rakesh Kamal, 57, his wife, Teena, 54, and their 18-year-old daughter, Ariana, were found in their Dover mansion at about 7:30 p.m. Dover, situated approximately 32 kilometers southwest of downtown Boston, the capital of Massachusetts.

As the clock nears 12:00 a.m., a spectacular ball gracefully descends down a pole, and both on-site participants and millions watching remotely initiate a countdown from 60.

New York Times initiated legal proceedings against Microsoft and OpenAI, alleging copyright infringement by using millions of its articles without permission to develop AI models, including ChatGPT and Copilot. The lawsuit claims that these models generate content that mimics NYT's style, directly competing with the media outlet and undermining its relationship with readers.

U.S. stocks closed modestly lower on Friday, the last trading day of 2023, capping a robust year-end rally as investors eyed easier monetary policy in the year ahead. The stock market has seen remarkable upward momentum in the closing months of the year, powering all three major indexes to monthly, quarterly and annual gains. For the year, all three posted double-digit growth. «On January of this year, 363 days ago, if I said I think the S&P is going to gain more than 20% in 2023, you would have put me into the slightly nutty category,» said Oliver Pursche, senior vice president at Wealthspire Advisors, in New York.

NEW YORK (Reuters) -U.S. prosecutors said on Friday they do not plan to proceed with a second trial against Sam Bankman-Fried, who was convicted last month of stealing from customers of his now-bankrupt FTX cryptocurrency exchange.

For the first time in more than two decades, the top three movies at the box office this year didn't include a sequel or a remake

A study from Harvard says social media companies collectively made over $11 billion in U.S. advertising revenue from minors last year

A judge in New York has ruled that Alibaba must face a lawsuit by a U.S. toymaker alleging that the Chinese ecommerce giant's online platforms were used to sell counterfeit Squishmallows

The IPO market limped ahead in 2023 and analysts expect a steadier recovery ahead

U.S. stock futures are little changed Friday as the market puts the wraps on a year of surprisingly robust gains

The S&P 500 closed out 2023 with a gain of more than 24% as easing inflation, a resilient economy and the prospect of lower interest rates buoyed investors, particularly in the last two months of the year

By Davide Barbuscia