New York Financial News

By Saeed Azhar, Svea Herbst-Bayliss and Tatiana Bautzer

By Lewis Krauskopf

By Saqib Iqbal Ahmed

Alexa assistant, according to a memo sent to employees on Friday. Daniel Rausch, an Amazon vice president who leads teams working on Alexa and the company’s Fire TV streaming franchise, said the company was “shifting some of our efforts to better align with our business priorities," including focusing on building capabilities powered by generative artificial intelligence. “These shifts are leading us to discontinue some initiatives, which is resulting in several hundred roles being eliminated." Rausch didn’t specify which initiatives would be eliminated.

By Herbert Lash and Iain Withers

Martin Scorsese, the legendary American movie director, celebrates his 81st birthday today. Scorsese is widely regarded as one of the foremost film directors of all time with stellar movies like “Goodfellas,” “Cape Fear,” “Raging Bull” and many more.

By Nicole Jao

By Pete Schroeder

Super Mario RPG which will be out for enthusiasts on November 17 or a day earlier depending on where you live. Release time for different countries:

Drake, the globally acclaimed hip-hop artist from Toronto, Canada reportedly dissed Joe Budden, a former New York-based rapper in one his songs from his latest album “For All The Dogs Scary Hours Edition” which was released today. In a newly added track called “Stories About My Brother” Drake was heard saying in the lyrics that he had to imagine getting “validation” from a former musician who is searching for “recognition,” a line that is reportedly aimed at Budden. Fans speculated that Budden might be a topic about whom Drake is talking about in his new album that is a deluxe edition of “For All The Dogs” which was released in October this year. Due to this speculation Budden also started trending on X (formerly Twitter). As per reports, Budden gave his review about Drake’s “For All The Dogs” album on his podcast, comments which the rapper apparently did not like. Budden stated that although he liked some of the tracks from the album, Drake could have done better on the track called “First Person Shooter” which also featured fellow rapper J Cole. This criticism didn’t go down well with Drake.

No one enjoys waiting in long lines at airport security or suffering through a departure delay. Some airports do a better job of making those miseries less miserable. LaGuardia Airport in New York and Orlando International Airport in Florida are infamous among travelers for their problems with on-time arrivals and departure delays.

BharatPe founder Ashneer Grover and his wife Madhuri Jain were stopped at the Indira Gandhi International Airport. Confirming the news, the former BharatPe MD took to X (formerly Twitter) to talk about the incident that happened on Thursday night. Grover and his wife were travelling to New York when the couple was stopped by the immigration officials. “I found it strange (being stopped at the airport) as have travelled 4 times internationally since FIR filed in May – never been a problem and I had not even been summoned once,” Grover said on X.

BharatPe cofounder Ashneer Grover and his wife Madhuri Jain were stopped at the Indira Gandhi International Airport Thursday on the basis of a look-out circular (LoC) issued against the two. The couple was travelling to New York, sources in the know told ET. The LoC was opened against the two at the request of the Economic Offences Wing (EoW) of the Delhi Police. Earlier in May, the EOW registered an FIR against the couple and some other family members for alleged misappropriation of funds and causing losses worth Rs 81 crore to Resilient Innovations Private Limited, which runs BharatPe.

By Paritosh Bansal

Sean “Diddy” Combs has been hit with a lawsuit accusing him of raping and sex trafficking a young R&B performer for more than a decade.The bombshell filing, first reported by the New York Times, alleges that Combs controlled and abused singer Cassie for more than a decade, plying her with drugs, abusing her and forcing her to have sex with multiple male sex workers while he videotaped the encounters.Cassie, whose real name is Casandra Ventura, met Combs in 2005 when she was just 19, the lawsuit says. The pair started dating and allegedly it wasn’t long before the rap mogul began a pattern of control and abuse.In 2018, the suit says, Combs forced his way into her home and raped her.

Delhivery, the country's largest fully integrated logistics services provider, tumbled 3.70% in early trade on Friday, reaching ₹398.50 apiece. This downturn came after 1,74,57,113 shares of the company changed hands in a block deal window on Friday. The total worth of the transaction was around ₹722.18 crore.

TikTok creators and celebrities confronted TikTok executives and other employees in a private meeting Wednesday night, urging them to do more to address a surge of antisemitism and harassment on the popular video service. The meeting, held on a video call for about 90 minutes and joined by more than 30 people in all, included actors Sacha Baron Cohen, Debra Messing and Amy Schumer. It was led by Adam Presser, TikTok's head of operations, and Seth Melnick, its global head of user operations. The executives said they wanted to know more about what the creators were experiencing to improve the app, according to a recording of the meeting obtained by The New York Times.

Mining and clean-energy billionaire Andrew Forrest has pledged to plough $US35 million ($54 million) into a new battery manufacturing plant in the United States, as Fortescue Metals aims to cash in on the benefits of President Joe Biden’s $US369 billion ($550 billion) Inflation Reduction Act.

Shares in Chinese e-commerce titan Alibaba tanked more than seven percent at the Hong Kong open Friday after the firm's surprise decision to call off part of its high-profile restructuring because of the US-China chip war. In a move that shocked investors, the Hangzhou-based tech giant said Thursday that US curbs on exports of advanced chips had forced it to call off the spinoff of its cloud computing arm. The firm's stock dived 7.13 percent soon after the starting bell in Hong Kong, tracking a collapse in its New York-listed shares. Washington has moved to bar the shipment to China of powerful chips, including those from California-based Nvidia, which are crucial to the development of artificial intelligence, on national security grounds. In one of its most wide-ranging restructurings, Alibaba said in March it planned to split the vast group into six distinct entities that would be able to separately pursue funding through public listings. But on Thursday, it called off the creation of its Cloud Intelligence arm in light of «the recent expansion of US restrictions on export of advanced computing chips». «We believe that a full spin-off of Cloud Intelligence Group may not achieve the intended effect of shareholder value enhancement,» the company said in its earnings release. «Accordingly, we have decided to not proceed with a full spin-off, and instead we will focus on developing a sustainable growth model for Cloud Intelligence Group under the fluid circumstances,» Alibaba said. Alibaba is a key player in China's expansive digital economy and the operator of a major online shopping platform. The Hangzhou-based group's performance is considered a barometer of domestic consumption, which has flagged in recent

Thrasio Holdings, which acquires third-party sellers on Amazon, is preparing to file for bankruptcy as it grapples with a post-pandemic slump in online spending, the Wall Street Journal reported on Thursday. Thrasio has been advised by New York-based consulting firm AlixPartners in recent years and their retail turnaround professional Holly Etlin is currently working with the company, the report said, citing people familiar with the matter.

Three men have been arrested for an elaborate conspiracy that drained $10 million from banks across the New York City metropolitan area, United States Attorney for the Southern District of New York, Damian Williams, announced today.