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☆ Doordash, Uber Eats, and Grubhub sue NYC over new minimum wage law
▼ + stars: | 2023-07-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDoordash, Uber Eats, and Grubhub sue NYC over new minimum wage lawCNBC's Deirdre Bosa joins 'TechCheck' to discuss why gig economy stocks are hitting session lows after announcing their lawsuit with New York City over the latest minimum wage laws.

Persons: Uber, CNBC's Deirdre Bosa Organizations: New Locations: New York City

☆ Mulling Manhattan One-Bedrooms: Prewar Charm or Modern Amenities?
▼ + stars: | 2023-07-06 | by ( Joyce Cohen | ) www.nytimes.com time to read: +2 min

But “we always got super discouraged at how expensive everything was and how little you get for your money,” Ms. Pfeiffer, 50, said. Their budget hovered around $800,000, but “we know ourselves,” Ms. Pfeiffer said. “Our future selves wanted to plan for this possibility,” Ms. Pfeiffer said. An early visit to a high-floor co-op apartment in a charming prewar walk-up reminded them that “going up and down was asking a lot of our bodies, even without carrying groceries, cats, bags, whatever,” Mr. Vogel said. The housing stock was more suitable below 60th Street, so they decided that avoiding congestion pricing wasn’t that important after all.

Persons: Maria Pfeiffer, Jason Vogel, Ms, Pfeiffer, “, Vogel, Christopher Baker, Pfeiffer’s, ” Ms, ”, Mr, Baker Organizations: Keller Williams NYC Locations: Columbia County, Albany, Hudson

☆ DoorDash quietly ends an experiment to deliver grocery orders within 15 minutes in NYC
▼ + stars: | 2023-07-06 | by ( Nancy Luna | ) www.businessinsider.com time to read: +4 min

In 2021, Gorillas, Buyk, and Gopuff opened dozens of rapid-delivery warehouses in Manhattan. Amid a collapse in the sector, DoorDash has ceased its ultrafast delivery operation in Chelsea. DoorDash's exit comes as the ultrafast grocery delivery space has collapsed over the past year after growing wildly in spring 2021. Many had spread throughout New York City, Chicago, Boston, and San Francisco. Neighborhoods in New York City also balked at the dark store operations, accusing them of ruining retail enclaves and taking away business from local bodegas.

Persons: Gopuff, DoorDash, —, York DashMart, Fuad Hannon, they're, Hannon, Robert Mollins, Gordon, Getir Organizations: Investors, Service, The Locations: Manhattan, Chelsea, New York City, Chicago, Boston, San Francisco, York

☆ Meet the 91-year-old grandfather booking major fashion campaigns
▼ + stars: | 2023-07-04 | by ( Jacquelyn Palumbo | Jacqui Palumbo | ) edition.cnn.com time to read: +5 min

Celine van HeelCNN —He’s louche and sun-kissed, effortlessly cool and 91 years old. Today, with a sizable social media following and major campaigns for Zara and adidas under his belt, The Spanish King is one of the oldest working models in Europe. Celine van Heel began photographing her grandfather while staying with him during Covid-19 lockdowns. “His look, the way he looks at the camera — it’s simple, but it really defines him,” van Heel said of the image. Van Heel believes her grandfather is the perfect example of why no one should feel the need to act their age.

Persons: Celine van Heel, He’s, Carro —, Caro, “, ” van Heel, Celine, ”, Celine van, van, Garcia, ” Schott, Van Heel, she’s, “ He’s, …, Heel, Carro, Van, —, he’s, tans, ” Van Heel, Carmen Dell’Orefice, Guo, Iris Apfel Organizations: Schott NYC, Celine van Heel CNN, Zara, adidas, Gran Canaria, moto, Schott Locations: Spanish, Europe, Covid, Spain, Argentina, Uruguay, Zara, Paris

☆ How a 23-year-old freelancer makes $48,000 in NYC without a college degree
▼ + stars: | 2023-07-03 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +8 min

This story is part of CNBC Make It's Millennial Money series, which details how people around the world earn, spend and save their money. While growing up in a suburb of Washington, D.C., Brunotts always expected to go to college. But after reviewing the potential costs of attending music school in NYC, she ultimately decided against pursuing higher education. She brought in around $48,000 last year and says she's on track to make more this year. When she has earned more than her weekly goal doing work for clients, Kate spends time working on personal music projects.

Persons: Kate Brunotts, Brunotts, I've, Kate, Matt, hadn't, Lauren Shamo, Maherzad Todiwala, she's, she'll, Roth, It's Organizations: CNBC, New York City, Washington , D.C, Center, Citi, Google Fi Locations: New York, Washington ,, NYC, Upwork, Venmo, Brunotts

☆ Eric Adams Shifts NYC Budget to Match His Top Issue: Migrant Arrivals
▼ + stars: | 2023-07-01 | by ( Erin Ailworth | Jimmy Vielkind | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/eric-adams-shifts-nyc-budget-to-match-his-top-issue-migrant-arrivals-5065f217

Persons: Dow Jones, eric, adams

☆ Fact Check-Subway sign about transgender bigotry not created by MTA
▼ + stars: | 2023-06-30 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

An identical sign can be seen in the group’s “Pride 2021” Instagram highlight reel (see ninth and 12th slides) here. The Pride Train campaign, created by Thomas Shim (www.instagram.com/thomasshim) in 2017, has been featured in news reports since then. It was inspired that year by then-President Donald Trump’s refusal to formally acknowledge Pride Month, Shim has said in interviews (here), (here), (here). Pride Train and Thomas Shim did not immediately respond to Reuters’ requests for comment via Instagram message. The poster depicted as NYC subway signage in social media posts was created by an activist group, not the city’s transit authority.

Persons: Meghan Keegan, Thomas Shim, Donald Trump’s, Shim, Read Organizations: New York City Transit, Metropolitan Transportation Authority, MTA, Twitter, Pride, Pride Train, Reuters Locations: New York City

☆ The ultra-rich hopping on the AI bandwagon might be the biggest sign the tech is legit
▼ + stars: | 2023-06-30 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

The job of family offices, investment firms tasked with managing the fortunes of the ultra-rich, has never been about getting massive returns. Which is why Hayley Cuccinello's story on family offices investing in artificial intelligence is so fascinating. Hayley spoke to executives at family offices about how they're navigating the modern-day gold rush that is AI investing. Of course, a lot of those deals never materialized and most family offices have now largely eschewed digital currencies altogether. The difference is family offices have largely gotten in on AI long before the bandwagon arrived, Hayley reports.

Persons: Dan DeFrancesco, It's, we've, Samantha Lee, Hayley Cuccinello's, Hayley, it's, Read, Erin McDowell, Goldman, Bill Gates, Morgan Stanley, James Gorman, Caniacs, Jeffrey Cane, Hallam Bullock Organizations: Mastercard, Refinitiv, Intelligence, Gates Ventures, Wall Street, LinkedIn Locations: Here's, Wall, Silicon, insider.com, Spain, Austin , Texas, Midtown Manhattan, New York City, New York, London

☆ Living on $48K a year freelancing in NYC
▼ + stars: | 2023-06-30 | by ( Lauren Shamo | Cheyenne Devon | ) www.cnbc.com time to read: 1 min

This is a Gen Z episode of CNBC Make It's Millennial Money series, which profiles people across the globe and details how they earn, spend and save their money.What's your budget breakdown? We're looking for stories from all ages, not just millennials! Share your story with us for a chance to be featured in a future installment of Millennial Money: https://cnb.cx/3OxbJ71

Organizations: CNBC

☆ Fact Check-Atlantic headline about man flashing a child at NYC Pride is fake
▼ + stars: | 2023-06-29 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

The Atlantic did not publish a headline about a man flashing a 6-year-old child at the New York City Pride parade, a spokesperson for the media outlet confirmed. A screenshot of a purported article on The Atlantic with the headline, "At this weekend's Pride parade a man exposed his genitals to my 6 year old. We have reported this as fake and as a trademark infringement.”The fabricated article also incorrectly credits the photograph of the Pride parade to Reuters. Reuters has debunked several misleading claims surrounding the Pride movement since the beginning of June, which is celebrated as Pride Month: (here), (here), (here). The Atlantic’s headline about indecent exposure at the 2023 NYC Pride March is fabricated.

Persons: Anna Bross, Mykal McEldowney, Read Organizations: New York, Twitter, Facebook, The, Reuters Locations: New York City

☆ The billionaires' beef at Two Sigma seems pretty petty
▼ + stars: | 2023-06-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

ICYMI: This is the last week of 10 Things on Wall Street. Insider's Rebecca Ungarino has more details on how long the beef between Overdeck and Siegel has been brewing behind the scenes. What stands out to me about the drama at Two Sigma is how it all seems to be so petty. The Two Sigma cofounder was included only as an example of the type of managers Haider had eclipsed. The asset manager tapped two internal executives to serve as co-CEOs of the firm, succeeding CEO Jay Wintrob, The Wall Street Journal reports.

Persons: Dan DeFrancesco, I'm, Billy Joel's, —, we've, Goldman, Cofounders David Siegel, John Overdeck, David Siegel, cofounders, Insider's Rebecca Ungarino, Siegel, Rebecca, Haidar Capital's Said Haidar, Haider, Penny, Warren Buffett, Charlie Munger, Scott Olson, Ruobing Su, Michael Broadbery, Goldman Sachs, Maza, Andreessen Horowitz, Seth Klarman, Jay Wintrob, Robert O'Leary, Armen Panossian, Everybody's, they're, Joey Hadden, Jeffrey Cane, Hallam Bullock Organizations: Sigma, Baupost, Oaktree Capital, Street, Wall, LinkedIn Locations: Omaha, New York, London

☆ Fact Check-Video of New York protest against India’s Modi predates June 2023 visit
▼ + stars: | 2023-06-28 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

A video circulating online of a cardboard cutout of Indian Prime Minister Narendra Modi at a New York protest dates to October 2019 and is not linked to his U.S. visit in June 2023, contrary to some claims. U.S. President Joe Biden hosted Modi for an official state visit to the White House on June 22 (here). U.S. rights groups planned protests over what they call India's deteriorating human rights record (here). It has been circulating online since at least October 2019 (here). The video has been circulating online since October 2019.

Persons: Narendra Modi, ”, Joe Biden, Modi, Read Organizations: Indian PM, Facebook, White House, Reuters Locations: New York, Queens

☆ Hollywood's love affair with private credit could be a recipe for disaster
▼ + stars: | 2023-06-28 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Private credit goes Hollywood. A town that loves a good story has a leading role in the biggest one on Wall Street. So in that vein, private credit filling the gap left by banks reconsidering their lending decisions is great. Ratings agency Moody's has already raised the alarm, suggesting defaults among borrowers in private credit will rise. But I think it's fair to say that industry isn't as cut and dried as others private credit might be lending to.

Persons: Dan DeFrancesco, fanny, —, we've, Maks, it's, Insider's Reed Alexander, Rebecca Ungarino, Reed, Rebecca, Moody's, Consuelo Vanderbilt Costin, Bryan Griffin, James, Jim, Crown, Henry Crown, Junius Myer Schine, David Sinclair, Jeffrey Cane, Hallam Bullock Organizations: Credit Suisse, Wall, Investment, Hollywood, Creators, The Vanderbilt, UBS, JPMorgan, Fidelity, Wall Street, LinkedIn Locations: Hollywood, Swiss, Aspen , Colorado, Silicon, Jersey Shore, New York, London

☆ The 'Wolf of Airbnb' made nearly $2 million through the pandemic running 'mini-hotels' in NYC. He just pleaded guilty to wire fraud.
▼ + stars: | 2023-06-28 | by ( Will Gendron | ) www.businessinsider.com time to read: +3 min

Konrad Bicher began renting Manhattan apartments in 2019, before subletting them out. On top of violating lease agreements, Bicher obtained nearly $600,000 in Covid relief loans. The self-proclaimed "Wolf of Airbnb" now faces prison time after pleading guilty to fraud. Prosecutors said he failed to make rent payments required by the lease agreements and refused to leave the apartments after the leases expired. When Bicher was indicted in October, Williams said Bicher operated at least 18 apartments in Manhattan "as mini-hotels" while using the pandemic as an excuse not to pay landlords.

Persons: Konrad Bicher, Bicher, Wolf, Airbnb, Prosecutors, Damian Williams, Williams Organizations: Prosecutors, US Small Business Administration Locations: Manhattan, Hialeah , Florida

☆ New York Gov. Hochul touts NYC as first U.S. city to move forward with traffic congestion pricing
▼ + stars: | 2023-06-27 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +1 min

After New York City was cleared late last week to move forward with a congestion pricing plan, Gov. Kathy Hochul on Tuesday said the largest U.S. city is leading the way to "achieve cleaner air, safer streets and better transit." "We are going to be the very first state in the nation, the very first city in America, to have a congestion pricing plan," Hochul said in a press conference Tuesday. While it's a new model for the U.S., congestion pricing plans have previously been implemented in London, Stockholm and Singapore. A six-member Traffic Mobility Review Board is tasked with determining the specific pricing structure.

Persons: Kathy Hochul, Hochul Organizations: New, Federal Highway Administration, U.S . Department of Transportation, New York's Metropolitan Transportation Authority Locations: New York City, U.S, New York, Manhattan, New, America, London, Stockholm, Singapore

☆ Raising Cane's co-CEO on NYC expansion: Our goal is $10 billion in sales by end of decade
▼ + stars: | 2023-06-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRaising Cane's co-CEO on NYC expansion: Our goal is $10 billion in sales by end of decadeAJ Kumaran, Raising Cane’s co-CEO and COO, joins 'Squawk Box' to discuss the opening of the fast-food chain's flagship location, company outlook, and more.

Persons: Cane's, AJ Kumaran, Cane’s

☆ A new addition to Goldman Sachs' board could be a lifeline, or threat, to CEO David Solomon
▼ + stars: | 2023-06-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

A change to the board of directors at a top Wall Street bank has raised questions about what it means for the CEO. Goldman Sachs board is reportedly planning to add Tom Montag, a former longtime Goldman exec who became the No. And as a former partner at the bank, Montag also brings with him a certain cachet. Such is life on Wall Street, where the line between friend and foe is never quite clear. From Mark Zuckerberg's martial arts-led comeback to Jeff Bezo's hot yacht summer, tech bros are feeling themselves these days.

Persons: Dan DeFrancesco, you've, —, we've, Tom Montag, Craig Barritt, Tory Burch, Goldman Sachs, Goldman, David Solomon, Montag, Solomon, Insider's Dakin Campbell, Merrill, Insider's Alex Morrell, Jeff Bezos, Clive Mason, Mark Zuckerberg's, Jeff Bezo's, Biden's, Jen Glantz, Pete Buttigieg, Jeffrey Cane, Hallam Bullock Organizations: Costco, Tory, Tory Burch Foundation, Bank of America, Bloomberg, Goldman, Solomon, BofA, Getty, Finance bros, Transportation, Starbucks, LinkedIn Locations: NYC, BofA, BlackRock, New York, London

☆ Don't worry pizza-heads, NYC is still safe for pizza
▼ + stars: | 2023-06-27 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +6 min

New York CNN —Lawmakers and prominent social media personalities have in recent days rallied against a proposed New York City rule that some say would crack down on the city’s beloved pizzerias. New York City is famously and deservedly known for its pizza. I hear New York City is trying to ban delicious pizza. New York City Mayor Eric Adams made a similar point during a press conference on Monday. So wait, did someone really throw a pizza at City Hall in protest of the proposed rule?

Persons: pizzerias, Sen, Marsha Blackburn, ” Dave Portnoy, Elon Musk, Michael Berman, Photodisc, “, Edward “ Ted ”, Michael Seilback, Pizza's, Artem Vorobiev, ”, Garima, Seilback, Eric Adams, wouldn’t, Adams Organizations: New, New York CNN — Lawmakers, Tennessee, Barstool Sports, Twitter, City Hall, City, city’s Department of Environmental, CNN, New York City Department of Environmental, Edward “ Ted ” Timbers, NYC Department of Environmental, American Lung Association, Getty, Columbia University, New York City Locations: New York, New York City, York City

SL Green Realty said it sold the building at 245 Park Avenue, which has 1.8 million-square-foot of office space, to a U.S. affiliate of Japanese real estate developer Mori Trust Co Ltd. Its sale represents a slight discount to the $2.21 billion that China's HNA Group paid to acquire the building in 2017 when New York City's commercial real estate market was at its peak. SL Green took control of 245 Park Avenue last year after lenders seized the building from HNA Group. Jesse Keenan, sustainable real estate professor at Tulane University, said the transaction is a speculative investment that suggests the deep downturn in the New York commercial real estate market may have bottomed out. SL Green Realty was the biggest gainer among listed REITs, leading its peers Vornado Realty Trust (VNO.N), Office Properties Income Trust (OPI.O), and Boston Properties Inc (BXP.N).

Persons: Kohn Pedersen Fox, Angelo Gordon, Jesse Keenan, Keenan, Vornado, Chibuike Oguh, Herbert Lash, Lisa Shumaker, Lance Tupper, Michelle Price Organizations: YORK, SL Green Realty Corp, Big, SL Green Realty, Mori Trust, Kohn Pedersen Fox Associates, Grand, Ares Management, Societe Generale, HNA, Green, HNA Group, Tulane University, New York, Green Realty, Vornado Realty, Income, Boston Properties Inc, Thomson Locations: New York City, U.S, Manhattan, New York

☆ Thousands march in NYC Pride Parade
▼ + stars: | 2023-06-26 | by ( Jeremy Schultz | ) www.reuters.com time to read: 1 min

The partnership is "stronger, closer and more dynamic than at any time in history," Biden told reporters at a joint press conference with Modi. The press conference itself was a reflection of contrasting political traditions, marking the first time Modi has taken questions in such a format in his nine-year tenure.

Persons: Biden, Modi

☆ NYC to Move Forward With Congestion Toll
▼ + stars: | 2023-06-26 | by ( Erin Ailworth | ) www.wsj.com time to read: 1 min

Persons: Dow Jones

☆ Getting by on $30,000 a year or less in Seattle, Long Beach, and NYC: How 3 city-dwellers 'just make it work'
▼ + stars: | 2023-06-26 | by ( Ryan Ermey | ) www.cnbc.com time to read: +6 min

Carvajal is one of three recent Make It interviewees who earns less than $30,000 while living in a coastal city. Tiara Simmons, a 39-year-old law clerk living in Long Beach, California, pulls in $26,000 a year between her salary and a social media marketing side hustle. Hoping to reinvest in his business, Carvajal pays himself a salary of just $25,000 and lives as minimally as possible. As for his business, Carvajal hopes to put Dominican-based coffee growers back on the map while steadily expanding his business. Tiara Simmons at The Pike, a shopping and amusement complex in Long Beach, Calif., she enjoys visiting with her family.

Persons: Hector Carvajal, Don Carvajal, Carvajal, Chi Baik, Tiara Simmons, Simmons, Don Carvajal Café, Mickey Todiwala, Don Carvajal's, Baik, John Paget, Covid, she'd, he's, Baik isn't, I'm, Long Beach , California Simmons, Tristan Pelletier Organizations: University of Washington, CNBC, University of Rochester, Foods, U.S, Washington , D.C Locations: New York City, Dominican Republic, Chi, Seattle, Long Beach , California, Bronx, New York, Dominican, Long Island City, Washington, Washington ,, chihuahua, The Pike, Long Beach, Calif

☆ Inside JPMorgan's handling of Jeffrey Epstein
▼ + stars: | 2023-06-26 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

This is the last week of 10 Things on Wall Street. But there remains a very large blight on JPMorgan's record that has come back into the spotlight this year: Jeffrey Epstein. Insider's Kaja Whitehouse and Emmalyse Brownstein have a breakdown of JPMorgan's long, drawn-out breakup with Epstein. Read more on JPMorgan's handling of Jeffrey Epstein. The Treasury secretary isn't particularly worried about the potential for more bank mergers this year, per The Wall Street Journal.

Persons: Dan DeFrancesco, I've, I'm, we've, Goldman Sachs, Jeffrey Epstein, Rick Friedman, hasn't, Kaja Whitehouse, Emmalyse, Epstein, Kaja, Read, Janet Yellen, isn't, Moody's, Francis Bacon, We've, Jeffrey Cane, Jack Sommers Organizations: Getty, JPMorgan, Dow, Norges Bank Investment Management, CNBC, Goldman, Street, Financial Times, Sequoia Capital, FDIC, Bloomberg, Dassault Falcon, LinkedIn Locations: NYC, Cambridge, Republic, dealmaking ., New York, London

☆ Everyone is getting paid these days — except investment bankers
▼ + stars: | 2023-06-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

It's been a tough go for investment bankers recently. As if all that wasn't bad enough for bankers, The Wall Street Journal recently reported that even lawyers are now making more money than them. It turns out the culprit, as is often the case on Wall Street, is inflation. It's getting really tough these days to make the case for getting into investment banking. That begs the question: Why bother getting into investment banking at all?

Persons: Dan DeFrancesco, we've, Klaus Vedfelt, It's, —, Robert Kindler's, Morgan Stanley, Paul Weiss —, hasn't, Seth Rogen, Nick Offerman, Paul Dano, Steve Cohen, Alexandra, Emily Oster, David Solomon, Goldman Sachs, Solomon, Jeffrey Cane, Nathan Rennolds Organizations: GameStop, Street Journal, Sony, Bloomberg, Harvard, JPMorgan, Economist Intelligence, LinkedIn Locations: Republic, Semafor, New York, London

☆ I got to experience how the ultra-rich live on NYC's Billionaires' Row. I was shocked at how comfortable Central Park Tower felt and how curated every aspect of living there was.
▼ + stars: | 2023-06-23 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: 1 min

From the ground floor, it looks like the many other luxury condo buildings that line the streets of Manhattan. A doorman stood outside alongside well-manicured shrubs. The entrance to Central Park Tower located at 217 West 57th Street, along Billionaires' Row. Kelsey Neubauer/InsiderFor a moment, just before arriving, I forgot I was about to walk into a building only affordable to the world's richest residents, where a 17,500-square-foot home in the sky is currently listed for $250 million. Outside, the scent of Midtown in summer — an eclectic mix of food, dirt, and other smells baking in the humidity — wafted around me.

Persons: Kelsey Neubauer Locations: Manhattan

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