New York Financial News

Charles Schwab plans to cut jobs and close or downsize some corporate offices as part of company efforts to reduce operating costs, the financial services firm said in a Monday regulatory filing

IBM is selling assets of The Weather Company — including Weather

Macy’s heavily discounted spring goods to make room for fall and holiday merchandise in the face of customers’ cautious spending in a challenging economy

Stocks that traded heavily or had substantial price changes Tuesday: Lowe’s, Fabrinet rise; Macy’s, Canadian Solar fall

Wall Street drifted to a mixed close ahead of a couple potentially market-shaking events later in the week

Threads users, get happy – you will finally be able to use the social media platform without an app

Macy’s is expanding its small-store format into the West and Northeast in a bid to increase customer visits and add new shoppers

The next book from “Fire and Fury” author Michael Wolff is both a recounting of the recent past and a prediction for the near future

Defense lawyers say FTX founder Sam Bankman-Fried can't adequately prepare for trial in six weeks while in jail without proper access to computers, necessary medications to help him concentrate, and a better diet than bread, water and peanut butter

Investing.com — Oil prices slid for a second day in a row, with U.S. crude settling beneath the key $80 per barrel support, on worries over the economic stalling in China and the potential for more rate hikes by the Federal Reserve.

(Reuters) — The labels “dove” and “hawk” have long been used by central bank watchers to describe the monetary policy leanings of policymakers, with a dove more focused on risks to the labor market and a hawk more focused on the threat of inflation.

Drew Barrymore was taken off the stage during an event in New York City after an audience disruption. The talk show host and actor appeared at the 92nd Street Y as part of the Recanati-Kaplan Talks series to support singer-songwriter and actor Reneé Rapp’s new LP Snow Angel. During their conversation, a man in the crowd walked down the aisle and shouted Barrymore’s name. He identified himself as Chad Michael Busto and said he needed to see her while in New York. Barrymore greeted him and was escorted offstage by Rapp. Security then removed the man from the venue. They returned to the stage a few minutes later and continued the conversation. Barrymore praised Rapp for her quick response and jokingly referred to her as protective. The event proceeded without further interruption. Barrymore interviewed Rapp about her new album and her involvement in various projects. Barrymore left the stage as planned after the event. Rapp performed three songs from her new LP and thanked the audience for their composure during the incident. Last year, a disruptive audience member interrupted a play in New York, and the police were involved in removing them. The music industry has also seen disruptions during performances by artists like Pink, Harry Styles, Bebe Rexha, and Cardi B.

Ramp, a developer of financial management software, has raised $300 million in its latest funding round to accelerate expansion in new categories, the company said on Tuesday, notching up a valuation of $5.8 billion. The new funding is at a lower valuation from the $8.1 billion achieved by the New-York based startup in a funding round last year, a spokesperson of the company confirmed. Valuations of financial technology startups have been hit as interest rates remain high and investors fret over a looming economic slowdown, leading to a shift away from cash-burning firms and toward those with greater focus on profitability. The latest funding round was co-led by Thrive Capital and Sands Capital along with existing investors Founder's Fund and General Catalyst among others. Ramp, which offers a corporate card platform used by over 15,000 businesses, was founded in 2019.

Activision Blizzard proposes to sell its streaming rights to Ubisoft Entertainment in a fresh attempt to win approval from UK Competition and Markets Authority for its $69 billion sale to Microsoft. The shares of Activision were trading 1.1% higher, while Microsoft was up 0.7% before noon in New York. Shares of Ubisoft listed in Paris closed 8.8% higher.

real estate sector as expected to put lenders' creditworthiness to the test, reported Reuters. Banks have been forced to pay out higher interest rates in order to prevent depositors from running away to other high-yielding options due to the US Federal Reserve's unrelenting campaign of rate hikes.

Losses in the financial sector helped lead Canada’s main stock index lower in late-morning trading, while U.S. stock markets were mixed.

NEW YORK — FTX Trading Ltd. founder Sam Bankman-Fried can’t adequately prepare for trial in six weeks while in jail without proper access to computers, necessary medications to help him concentrate and a better diet than bread, water and peanut butter, his lawyers told a magistrate judge Aug. 22.

Climate-related investments at KKR will now be overseen by a trio of leaders after the firm hired a new co-head of its climate strategy.

By Kate Holton and Paul Sandle

Those seeking to slow the progress of time spent a few days immersed in that possibility from Aug. 10–11 at the Capitale conference hall in downtown New York City. 

Sam “SBF” Bankman-Fried, the former CEO and co-founder of crypto exchange FTX, has pleaded not guilty to fraud and money laundering charges levied in an updated indictment by prosecutors, according to a report.