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☆ What it would take to remove embattled New York City Mayor Eric Adams from office
▼ + stars: | 2024-09-27 | by ( Alice Tecotzky | Lloyd Lee | ) www.businessinsider.com time to read: +4 min

NYC Mayor Eric Adams insisted that he will remain in office despite his indictment. However, the city's charter outlines two ways Adams could be forcibly removed from his position. AdvertisementAfter news broke that New York City Mayor Eric Adams was indicted on five criminal counts, many other politicians started calling on him to resign his post. The committee includes five members: New York City's top attorney, the comptroller, the City Council speaker, the borough president serving the longest consecutive term, and a deputy mayor that the mayor selects, the city charter states. If Adams is removed from office or resigns, Jumaane Williams, the city's public advocate, would serve as acting mayor.

Persons: Eric Adams, Adams, Kathy Hochul, —, Adrienne Adams, Donovan Richards, Brad Lander, Richards, Lander, Muriel Goode, Trufant, Goode, Randy Mastro, Fabien Levy, Jumaane Williams, Williams, Gracie Organizations: Service, New, New York City, Gov, York, City Council, City, Speaker, The New York Times Locations: New York, Gothamist , New York City, Lander, —

☆ As Eric Adams prepares to appear in court, the number of Democrats calling for his resignation keeps growing
▼ + stars: | 2024-09-27 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +4 min

New York City Mayor Eric Adams is set to appear in court over bribery and wire fraud charges. AdvertisementAs New York City Mayor Eric Adams prepares for court, the number of Democrats calling for his resignation is growing. Meanwhile, at least four members of the New York City Council have encouraged Adams to step back, the outlet said. We deserve better, which is why Mayor Adams should step down," Sandy Nurse wrote on X. Hochul issued a statement on Thursday asking Adams to "find an appropriate path forward to ensure the people of New York City are being well-served by their leaders."

Persons: Eric Adams, Adams, —, Katharine Parker, Alexandria Ocasio, Cortez, Brad Lander, Lander, John Avlon, Laura Gillen, Avlon, Sandy Nurse, Sen, John C, Liu, Kathy Hochul, Hochul Organizations: York City, Service, New York City, New York Times, New, Democratic Locations: York, Manhattan, Rep, Alexandria, New York City, Brad Lander , New York, New York, . New York

☆ Eric Adams expected to face charges and A's play their last game in Oakland: Morning Rundown
▼ + stars: | 2024-09-26 | by ( Elizabeth Robinson | Elizabeth Robinson Is A Newsletter Editor For Nbc News | Based In Los Angeles. | ) www.nbcnews.com time to read: +9 min

New York Mayor Eric Adams is set to face federal charges. And the Oakland A’s play their last game in the city they’ve called home for over 50 years. New York Mayor Eric Adams expected to face federal chargesNew York Mayor Eric Adams has been indicted and is expected to be charged today by prosecutors out of the Southern District of New York, two sources familiar with the matter said. More coverage of Eric Adams:Calls grew for Adams to resign, including from Rep. Alexandria Ocasio-Cortez, New York City Comptroller Brad Lander and more. Two abandoned Los Angeles mansions owned by a Hollywood producer are covered in graffiti , drawing ire from neighbors and condemnation from city officials.

Persons: Eric Adams, Hurricane Helene, Adams, ”, “, Alexandria Ocasio, Brad Lander, Florida Hurricane Helene, Helene, Harris, Kamala Harris, Volodymyr Zelenskyy —, Donald Trump, Trump, It’s, Joe Biden, David McNew, Oakland, Ezra Shaw, they’ve, John Fisher, — revile Fisher, David K, Li, Dana Varinsky, Elizabeth Robinson Organizations: York, Oakland, New York, Southern, of, FBI, Turkish Consulate, NYPD, Rep, Florida Hurricane, NOAA, National Hurricane Center, Tallahassee International, United, European Union, Hezbollah, Zelenskyy, White House, U.S, Democratic, Secret, Trump, An, Oakland Coliseum, Oakland Athletics, Cleveland Guardians, Athletics, NBC Locations: Florida, of New York, Brooklyn, Turkish, Alexandria, Cortez , New York City, Hurricane, Tennessee, Tallahassee, Israel, Lebanon, United States, Gaza, Russia, Ukraine, Douglas , Arizona, An Alabama, California, Los Angeles, Hollywood, Saudi, San Francisco Bay, Las Vegas, Sacramento

☆ NYC Mayor Eric Adams indicted on federal charges in campaign finance case
▼ + stars: | 2024-09-26 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

New York City Mayor Eric Adams speaks during a press conference at the City Hall, after it was revealed that he received a fresh round of federal grand jury subpoenas, New York City, U.S., August 16, 2024. New York City Mayor Eric Adams has been indicted on criminal charges in federal court in Manhattan, a source familiar with the matter told CNBC on Wednesday night. The indictment, which remains sealed for now, at least in part accuses Adams of criminal conduct related to donations to his 2021 mayoral campaign. Adams, a 64-year-old former police captain, is at least the second New York mayor to be criminally charged while still in office. If Adams resigns before his first term in office ends, he would be replaced by New York City Public Advocate Jumaane Williams as acting mayor.

Persons: Eric Adams, Adams, Alexandria Ocasio, Cortez, Jumaane Williams Organizations: York City, City, New York City, CNBC, city's Campaign, Program, New York, New York Police Department, Manhattan U.S, Attorney's, New York Times, City Hall, Police Department, Brooklyn Borough, FBI, Public Locations: York, New York City, U.S, New York, Manhattan, Turkey, Israel, China, Qatar, South Korea, Uzbekistan, New, Alexandria, Cortez

☆ This is the most expensive U.S. city to retire—and it isn't in California or Hawaii
▼ + stars: | 2024-09-21 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

New York City ranks as the priciest city in the U.S. to retire, according to WalletHub's 2024 analysis of the best and worst places to retire. Following NYC, the two Hawaiian destinations that offer the highest quality of life for retirees — Pearl City and Honolulu — tied for second place. The median rental price for a one-bedroom apartment hit $4,500 a month in August, per Zumper's latest data. That's pretty steep compared with the national median rental price of $1,534 for a one-bedroom and $1,915 for a two-bedroom. The median rental price for all bedroom types in Manhattan is $5,000 versus $4,209 in Brooklyn, according to Zumper.

Persons: it's, WalletHub, New York City It's Organizations: Broadway, New York City, —, Honolulu —, U.S . Census Bureau, for Community, Economic Research, Tax, Boston, Boston Seattle Yonkers , New York Santa Rosa , California Bridgeport , Connecticut San, Jersey, Index, Metropolitan Museum of Art, New Yorkers, New York City's Department Locations: Central, New, U.S, — Pearl City, Honolulu, New York Honolulu, Pearl City, Hawaii, Boston Seattle Yonkers , New York Santa Rosa , California Bridgeport , Connecticut, Boston Seattle Yonkers , New York Santa Rosa , California Bridgeport , Connecticut San Francisco, Fremont , California, Jersey City , New Jersey South Burlington, Burlington , Vermont, New York City, New York, Manhattan, Brooklyn, NYC

☆ Pizza Hut will print job seekers' resumes on pizza boxes and deliver to employers in 'the toughest job market'
▼ + stars: | 2024-09-17 | by ( Nicolas Vega | ) www.cnbc.com time to read: +2 min

Your next Pizza Hut delivery may come with a side order of employment. "Who could possibly ignore a resume when it is delivered as a delicious pizza?" Pizza Hut will then review the submissions and select 25 winners whose resumes will "be hand delivered via custom Pizza Hut ResZAme pizza box to their desired employers." If selected, applicants will be responsible for getting permission from their chosen company to deliver the pizza box resume. While Pizza Hut can't guarantee that the hot and cheesy resume will work, pizza has in the past been shown to be an attention grabber.

Persons: Pizza, Melissa Friebe, Friebe, Matthew Parkhurst, Parkhurst, There's Organizations: CNBC Locations: New York City, Pizza, New York, San Francisco and New York

The menu description for the $52 Caviar Martini included Grey Goose, toasted rye, white peppercorn, dolin blanc, bitters, and 14 grams of caviar. Monkey Bar, New York City: $34The Monkey Bar Martini at Monkey Bar in New York City. The restaurant offers various options — including a $74 Añejo Negroni — but we tried the $34 Monkey Bar Martini. Ordering the Ocean Martini is an experience that invites guests to expand their pallets. Given the pour size and the snack, we'd say the price for the Ocean Martini is worth it.

Persons: —, Trevin Hutchins, Dante, Kelsey Vlamis, Martini, Grey, Lloyd Lee, Nicoulai, Aphotic, Hutchins, Lauren Edmonds, Marlon Brando, couldn't, Bar, Frasco, Gibson, Bobby Murphy, Murphy, kombu, Scrooge, he's, I'm Organizations: Service, Business, Beverly Hills, Michelin, Monkey, Museum of Metropolitan Art, ILIS, Wine, Grub, ILIS's Locations: Francisco's, Los Angeles, San Francisco, New York, Dante, Beverly Hills, West, New York City, Beverly, Los, Boston, Aphotic, , New York City, Manhattan, Elysée, Kyoto, Japan, ILIS

☆ Stocks often drop in September — but many investors shouldn’t care
▼ + stars: | 2024-09-13 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Traders on the New York Stock Exchange floor on Sept. 9, 2024. Spencer Platt | Getty Images News | Getty ImagesSeptember historically hasn't been kind to stock investors. September is the only month during that nearly century-long period in which investors experienced an average loss, according to Morningstar. Trying to time the market is a losing betAlistair Berg | Digitalvision | Getty ImagesInvestors holding their money in stocks for the long-term shouldn't bail, Yoder said. Don't put faith in market maximsSimilarly, investors shouldn't necessarily accept market maxims as truisms, experts said.

Persons: Spencer Platt, Morningstar, Abby Yoder, Yoder, Alistair Berg, Digitalvision, Edward McQuarrie, McQuarrie, couldn't, J.P Morgan Organizations: New York Stock, Getty, Morningstar Direct, Finance, Morgan Private Bank, Investors, Santa Clara University, Fidelity Investments, Federal Reserve, Investor, Mutual Locations: U.S, Wells, New York City, New York

New York Police Department Commissioner Edward Caban speaks during the first quarter crime briefing press conference Wednesday, April 3, 2024, in Manhattan, New York City. NYPD Commissioner Edward Caban resigned Thursday from his post helming the country's largest police department amid a federal investigation into its nightclub enforcement, according to a memo obtained by News 4. I have therefore decided it is in the best interest of the Department that I resign as Commissioner." Caban, who was appointed to the job in July 2023, became the first Latino to serve as commissioner of the NYPD in its 179-year history. Several sources tell NBC New York federal investigators want to know if James Caban profited from his ties to his powerful brother and the NYPD.

Persons: Edward Caban, Caban, Eric Adams, Adams, Tom Donlon, James Caban, Caban's, Russell Capone, Rebekah Donaleski Organizations: New York Police, NYPD, News, NYPD –, Department, U.S, Attorney's, Southern, of, IRS, NBC New, New York City Police Department, Cooley Locations: Manhattan , New York City, of New York, NBC New York, Midtown, Queens

☆ Ford in talks to restart making cars in India for export
▼ + stars: | 2024-09-12 | by ( ) www.cnbc.com time to read: +1 min

Ford Motor held talks with India's Tamil Nadu state to explore producing vehicles for export, the state's chief minister said, potentially signaling that the U.S. carmaker could restart production in India after exiting the country three years ago. Ford sold one of its two plants in India to Tata Motors in 2023. Its other plant, which is in Chennai in Tamil Nadu state, was shuttered. "Had a very engaging discussion with the team from Ford Motors. Explored the feasibility of renewing Ford's three decade partnership with Tamil Nadu, to again make in Tamil Nadu for the world," M.K.

Persons: Ford, M.K, Stalin Organizations: New York, Auto, Ford Motor, Tata Motors, Ford Motors, Tamil Locations: Manhattan , New York City, U.S, Tamil, India, Asian, Chennai, Tamil Nadu

Here's what Harris and Trump got right and wrong on the debate stage in Philadelphia. Fact check: Trump calls Harris’ dad a Marxist“Her father’s a Marxist professor in economics, and he taught her well," Trump said. Fact check: Trump claims Harris ‘wants to confiscate your guns’“She wants to confiscate your guns,” Trump claimed. We’re not taking anybody’s guns away.”Fact check: Harris says Trump oversaw manufacturing job losses“Donald Trump said he was going to create manufacturing jobs. Fact check: Trump says he has ‘nothing to do with Project 2025’“I have nothing to do with Project 2025.

Persons: Kamala Harris, Donald Trump, Harris, Trump, Harris ’, That’s, Donald Harris ’, Karl Marx’s, Harris ‘, ” Trump, Tim Walz, We’re, that’s, Muir, I’ll, ” Harris, Biden, Putin, ” Trump hasn’t, ”, hasn’t, they’ve, Obamacare, “, William Barr, They’ve, It’s, Harris “, We’ll, we’ll, “ Donald Trump, Let’s, he’s, Xi —, —, you’re, don’t, “ It’s, they’re, isn’t, I’m, Karoline Leavitt, Sen, Marco Rubio, Frank McKenzie, Mark Milley, Ashraf Ghani, West Virginia —, Walz, Ralph Northam, Northam, Vance, hedged, John Kirby, we’ve, it’s Organizations: Trump, NBC News, Stanford University, Afghan, Pentagon, Washington Post, Post, United States, ISIS, Republicans, United, FBI, U.S, D.C, U.S . Energy Information Association, Ohio, Capitol, Taliban, National Security, Al, Republican, U.S . Central Command, Joint Chiefs, CNN, American Civil Liberties Union, Centers for Disease Control, Virginia Gov, NBC, White, Heritage Foundation, U.S . Customs, Protection, CBP, Office, American Progress Locations: U.S, Philadelphia, Afghanistan, Russia, Ukraine, Kyiv, Crimea, Moscow, Iraq, Syria, Iraq’s Anbar, Somalia, Africa, Red, United States, Georgia, Wisconsin, Georgia , Wisconsin, Pennsylvania, New York City, Aragua, Venezuelan, Washington, California , Maryland, Vermont, Andalia , Ohio, China, Mexico, Al Qaeda, Florida, Saigon, Doha, Kabul, airport’s, West Virginia, Virginia, Ohio, Springfield , Ohio

President Donald Trump and his first attorney general, Jeff Sessions, in Quantico, Va., on Dec. 15, 2017. “Please beware that this legal exposure extends to Lawyers, Political Operatives, Donors, Illegal Voters, & Corrupt Election Officials." Since leaving the Trump administration, Clark has argued that the attorney general should not be independent. Davis told NBC News that he does not expect he would fill the role of acting attorney general but that another Trump ally could. Donald Trump, left, and Attorney General William Barr at the White House on May 22, 2019.

Persons: Donald Trump, Trump, “ Trump, ”, Stephen Gillers, Mark Zuckerberg, Jeff Sessions, Evan Vucci, ” Trump, “, Joe Biden, Kamala Harris, Nancy Pelosi, Anthony Fauci, Bill Gates, Jack Smith, Barack Obama, Liz Cheney, Richard Nixon’s, Robert Mueller, general’s, Jeffrey Clark, Jose Luis Magana, Clark, Russ Vought, —, ” Clark, Mike Davis, Sen, Chuck Grassley, Neil Gorsuch, ” Davis, Hillary Clinton, George Soros, Davis, General Merrick Garland’s, Trump’s, Stephen Richer, ” Richer, Ilya Somin, Gene Hamilton, William Barr, Chip Somodevilla, Hamilton, ” Gillers, Zuckerberg Organizations: of Justice, New York University Law School, ”, and Drug Administration, Centers for Disease Control, WIN, Political, Illegal Voters, Democratic National Convention, Republican, Justice Department, White, White House, Democratic, Trump, Conservative Political, DOJ, “, Supreme, Washington , D.C, NBC News, Trump DOJ, Capitol, D.C, FBI, George Mason University, Partisan, America, NYU Locations: Quantico, Va, Oxon Hill, Md, America, Iowa, Washington ,, Albany , Atlanta, New York City, Palm Beach, Phoenix, Fort Pierce , Florida, Lago, Maricopa County , Arizona

☆ Andreessen Horowitz just dealt a blow to tech's move-to-Miami movement
▼ + stars: | 2024-09-04 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAndreessen Horowitz has reportedly given up on its Miami office after just two years in the space. "The firm is now virtual, but can materialize physically on command," Horowitz said at the time. Andreessen Horowitz did not immediately respond to Business Insider's request for comment. VC investment in Miami also saw a huge decrease in 2023, dropping 70% to $2 billion, according to the Journal.

Persons: —, Andreessen Horowitz, cofounders, Ben Horowitz, Horowitz, Marc Andreessen, Keith Rabois, Rabois, Florida . Austin, Elon Musk, he'd Organizations: Service, Miami Beach, Bloomberg, Business, Miami, Street Journal, SpaceX Locations: Miami, Miami Beach, Miami Beach , New York City, Santa Monica, Francisco, California, San Francisco, Fort Lauderdale, Florida ., Austin, Texas

☆ A Gen Zer left Boston for New York City because housing was expensive and it offered a 'fraction of the life experience'
▼ + stars: | 2024-09-04 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

After spending a few months researching places to live, New York City — the borough of Brooklyn in particular — stood out. "Cities like Boston that used to seem affordable are feeling just as expensive as New York City for a fraction of the experience," she added. Rent in New York City and Boston can vary considerably depending on where one looks, but New York is generally more expensive. The median rent for a one-bedroom apartment in New York City is $3,300 compared to $2,600 in Boston, per Zillow. AdvertisementAside from housing, White said one of the most expensive parts about living in New York City is the costs that come with having a social life.

Persons: Jillian White, White, —, Georgia —, she's, it's, Boston — Organizations: Service, New, Boston University, Business, Apple, New York City —, Boston Locations: New York City, Boston, , New York City, Brooklyn, Brooklyn's Bedford, Stuyvesant, Cities, York City, New York, Florida , Texas , California, North Carolina, Georgia, NYC, York, White, Beacon Hill, Seaport, Fenway, Manhattan

☆ UBS posts $1.14 billion profit in second quarter, smashing expectations
▼ + stars: | 2024-08-14 | by ( Jenni Reid | ) www.cnbc.com time to read: 1 min

General view of the UBS building in Manhattan, New York City, on June 5, 2023. Swiss banking giant UBS on Wednesday smashed net profit expectations for the second quarter, as revenue came in higher than expected. Net profit attributable to shareholders came in at $1.136 billion for the period, versus a company-compiled consensus forecast of $528 million. UBS had swung back to profit in the first quarter after two quarterly losses, but it warned that its net interest income would fall in both its global wealth management and its personal and corporate banking divisions. It has now been over a year since UBS completed the legal takeover of Credit Suisse, triggering a huge integration process and forming a wealth management juggernaut.

Organizations: UBS, Wednesday, Credit Suisse Locations: Manhattan , New York City, Swiss

☆ Gen Z might be the luckiest homebuying generation. Here's where they're scooping up homes.
▼ + stars: | 2024-08-06 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +5 min

A new SmartAsset analysis found that Gen Z bought homes in 2023 at the fastest rate in the Indianapolis, St. Louis, and Cincinnati metro areas — and the slowest in California and the Northeast. The median property value for these 2,266 new Gen Z homeowners in Indianapolis was $225,000, while the median income was $65,000. Related storiesA slightly lower percentage of Gen Z bought homes in St. Louis last year at just below 1.6% or 2,649 people. Other metro areas seeing higher rates of new Gen Z homeowners included Jacksonville, Virginia Beach, and Kansas City. Intuit Credit Karma found in January that nearly a third of Gen Z adults live with their parents.

Persons: —, homeownership, Z, Louis, Gen Zers, X, Gen, Redfin, Xers, Gen Z, millennials, homebuyers, Karma Organizations: Service, Business, Kansas City, YouTube, Pew Research Center, Intuit, Bank of Locations: Midwest, Indianapolis, St, Cincinnati, —, California, homebuyers, Jacksonville, Virginia Beach, Kansas, Homebuyers, Detroit , Cleveland, Pittsburgh, Texas, San Francisco , New York City, Los Angeles, Boston, San Francisco, Bank of America

☆ Toyota first-quarter profit jumps 17% on weak yen, matches expectations
▼ + stars: | 2024-08-01 | by ( ) www.cnbc.com time to read: +1 min

A Toyota logo is seen at the New York International Auto Show Press Preview, in Manhattan, New York City, U.S., March 27, 2024. Toyota Motor said on Thursday it posted a 17% rise in first-quarter operating profit, as the Japanese automaker got a boost from cost reduction efforts and a weak yen that helped offset lower sales and production volume at home. The world's top-selling automaker said operating profit for the three months through June totaled 1.3 trillion yen ($8.70 billion), matching the average of six analyst estimates compiled by LSEG. Toyota maintained its forecast of 4.3 trillion yen profit for the full year, versus a 5.3 trillion yen average of 18 analyst estimates. Toyota's share price, which was down 5.5% just before the earnings release, fell further immediately afterward and was down 8.4% at 2,702 yen by 0446 GMT.

Persons: LSEG Organizations: New York, Auto, Toyota, Lexus Locations: Manhattan , New York City, U.S, Japan, China

☆ Here's how much apartment space $1,500 a month can get you in 20 major U.S. cities
▼ + stars: | 2024-07-30 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

The apartment search website set out to determine how much apartment space renters across the United States can get for just $1,500 a month. The report found that more than half of the top 20 major cities offering the most space for that amount are in the Southeast and Southwest. Renters in major coastal cities like New York and Boston are sacrificing square footage and shelling out equal amounts in monthly rent, data shows. Texas has three locations where renters can get the most space for just $1,500— Lubbock, El Paso and Corpus Christi. Major cities in California top the list of places that offer the least amount of space for $1,500.

Organizations: Corpus Christi Locations: United States, Southeast, New York, Boston, Wichita , Kansas, Manhattan , New York City, Texas, Lubbock, El Paso, Corpus, California

☆ P&G stock deserves to be down after a messy quarter — but not by this much
▼ + stars: | 2024-07-30 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +9 min

Despite that, P & G had a spotty quarter, which could give fuel to investors worried that a deterioration in the consumer would make its guidance harder to achieve. Nevertheless, P & G still fills an important role in a diversified portfolio, and its business is on solid footing. That includes North America, where organic sales grew 4%, and Europe, where organic sales increased 2% despite a difficult 12% comparison in the year-ago period. That helps explain how you get organic sales in China down 9%, albeit a slight sequential improvement from the 10% drop in the third quarter. It saw a mid-single digit decrease in organic sales because of market-share losses for its Luvs diapers.

Persons: Gamble, Stanley Black, Decker, Procter, Jim Cramer, Andre Schulten, Jon Moeller, Jim, it's, Jim Cramer's, Andrew Kelly Organizations: Procter, Revenue, LSEG, Procter & Gamble, Colgate, Palmolive, Unilever, Federal Reserve, SK, Care, CNBC Locations: U.S, Western Europe, North America, Europe, China, Japan, Middle, Manhattan , New York City

☆ Food delivery fees are rising, and everyone's feeling the pinch
▼ + stars: | 2024-07-27 | by ( Justine Fisher | ) www.cnbc.com time to read: +11 min

Third-party food delivery is becoming the norm for American consumers, as delivery apps like Grubhub, DoorDash and Uber Eats take hold in day-to-day dining. It's also presenting customers and restaurants with an increasingly complicated equation of service fees, delivery costs and worker tips. San Francisco resident Zainab Batool, who said she orders delivery from either Uber Eats or DoorDash weekly, called the added fees "insane." The share of consumers choosing third-party delivery services over direct restaurant delivery is rising, up from 15% in 2020 to 21% in 2024, according to Technomic's 2024 Delivery & Takeout Consumer Trend Report. But using their delivery services instead of paying for in-house delivery is worth it for a business on the smaller side, he said.

Persons: Luiz C, Ribeiro, Uber, It's, Zainab Batool, Batool, Gordon Haskett, Grubhub, it's, DoorDash, Covid, Spencer Platt, they've, Shelle Santana, Lindsey Nicholson, Tony Scardino, Pizza, He's, Scardino, Meredith Sandland, Ann, Phillis Engelbert, Engelbert, Gabby Jones Organizations: Ribeiro | New York Daily News, Tribune, Service, Getty, Gordon Haskett Research Advisors, Companies, U.S . Mobility, Uber, Bentley University, Grubhub Marketplace, UCG, Amazon, Bloomberg Locations: Manhattan, Ribeiro |, Francisco, Amsterdam, California, New York City, U.S, Canada, Illinois, Chicago, Ann Arbor , Michigan, Detroit

☆ Philadelphia is experimenting with guaranteed income pilots for pregnant people and housing insecure families
▼ + stars: | 2024-07-23 | by ( Allie Kelly | ) www.businessinsider.com time to read: +7 min

Read previewPhiladelphia has joined the national guaranteed basic income wave — with a focus on pregnant people and families experiencing housing insecurity. AdvertisementPhilly Joy Bank hopes to improve birth outcomesThe Philly Joy Bank pilot will offer $1,000 a month for 18 months to pregnant people beginning in their second trimester. It is a partnership between the Philadelphia Department of Public Health and the Philadelphia City Fund — with funding coming from the city and various foundations. Guaranteed income programs like Philly Joy Bank "should be the standard, not the exception," Coaxum said. Participants will pay about 30% of their personal monthly income toward housing, then they will receive guaranteed income to cover any remaining balance.

Persons: —, ALICE, Nia Coaxum, It's, Coaxum, Dawn Benson, Benson, Noah Sheidlower Organizations: Service, Philly Joy Bank, Business, Nonprofit United, Philly, Bank, Health, Philadelphia Department of Public Health, Denver, Philadelphia Community Action, Philadelphia City Fund, Children's Hospital of Philadelphia, city's Department of Public Health, Philadelphia Housing Development Corporation, University of Pennsylvania, BI Locations: Philadelphia, Pennsylvania, America, Area, Chicago, San Antonio , New York City, Tioga, Cobbs

☆ Death of Hedge Fund Stars: Wall Street, Stock Market Titans Are Gone
▼ + stars: | 2024-07-21 | by ( Linette Lopez | ) www.businessinsider.com time to read: +15 min

Take activist hedge funds, which buy up a percentage of a company's stock (or an asset) and then use their weight to push for operational changes. Or there would be a fun, splashy war between the hedge fund and the C-suite. Hedge funds rely on outperforming the market when times are hard and it's easier to find pockets of outperformance and exploit them. Of course, hedge funds are having a hard time coming up with a crew because the clients have changed too. Advertisement"At the end of the 1960s, the bubble burst, and everyone thought, 'That's the end of hedge funds,'" Mallaby said.

Persons: David Tepper, Anthony Scaramucci, Lenny Kravitz, lanyards, Bobby Jain, Goldman Sachs, Denise Shull, Charles Lemonides, ValueWorks, Saba Capital's Boaz Weinstein, BlackRock, Nelson Peltz, Bob Iger, Paul Singer's Elliott, —, Elliott, Meir Statman, Statman, I'm, That's, Paris, Marc Jacobs, they've, they're, Sebastian Mallaby, Julian Robertson, Julian, Mallaby, Lemonides, wonky quants, Keith Gill, David Einhorn, Andrew Left, bro Organizations: Appaloosa Management, Carolina Panthers, Bellagio, Millennium Management, Credit Suisse, Jain, Disney, Paul Singer's Elliott Management, Santa Clara University, Behavioral Finance, New, Tiger Management, Met, rockstar, Ferrari, Greenlight, Harvard, Princeton grad, Research Locations: Vegas , New York City, Singapore, Argentine

☆ 26-year-old won the NYC housing lottery, pays $881/month for a 1-bedroom apartment: How the process works
▼ + stars: | 2024-07-20 | by ( Celia Fernandez | ) www.cnbc.com time to read: +10 min

Nahjae Olin won the NYC housing lottery in 2023 and signed a lease on a one-bedroom apartment in the Bronx. She and five of her siblings grew up in a one-bedroom apartment just one block away from the place she now calls home. Molly Stromoski for NYC Department of Housing Preservation & DevelopmentThe New York City housing lottery program helps residents find affordable housing, including rent-stabilized apartments. NYC Housing ConnectThe average ratio for HPD's housing lottery is 50 applications for each available unit. Before winning her housing lottery apartment, Nkenge lived in a small one-bedroom in Harlem.

Persons: Nahjae Olin, Olin, Molly Stromoski, Emily Osgood, Osgood, you've, It's, she'd, . Olin, I'm, Development Olin, you'll, Nkenge, Mickey Todiwala, That's, I've Organizations: CNBC, NYC Department of Housing Preservation, New, of Housing Preservation, Development, Yorkers, AMI, Housing, . Locations: Bronx, Bronx , New York City, New York City, New York, housingconnect.nyc.gov, Brooklyn, Williamsbridge, U.S, Harlem, Manhattan, Nkenge's

☆ Can New York City Ever Win Its War Against Rats?
▼ + stars: | 2024-07-19 | by ( Ginia Bellafante | ) www.nytimes.com time to read: +2 min

What do rats do in heat waves? As temperatures have continued to stifle all will, and the humidity level has been Bangkok-in-a-thunderstorm-percent high, I raised the question with Kathleen Corradi, New York City’s first dedicated rat czar. The specific target of her enmity is the improbably named Norway rat, the dominant species in the city. Rats are mammals, Ms. Corradi pointed out, and they find oppressively warm weather as enervating as we do. A happy rat is reproducing at a rate that science says we cannot exterminate our way out of.”

Persons: Kathleen Corradi, Eric Adams, Corradi, ”, “ Organizations: Silk, Bloomberg Locations: Bangkok, Kathleen Corradi , New York, Norway, Scandinavia, Oslo, New York, York, Calgary, Alberta Province

☆ Work from home could lead to more homes in vacant offices
▼ + stars: | 2024-07-17 | by ( Samantha Delouya | ) edition.cnn.com time to read: +7 min

At first glance, The Crosby, an apartment building that opened in 2020 in Los Angeles’ Koreatown neighborhood, seems like a typical luxury high-rise. And most office buildings have central air conditioning, so the system needs to be replaced with individual cooling and heating systems for each unit. “Only about 15% of office buildings here in the markets that we’re based in are potentially good candidates for office-to-housing conversions,” Sherman said. While that may initially seem like a positive, apartment units need to have access to windows facing the exterior. Local governments aren’t only pushing for office building conversions, though.

Persons: CBRE, Crosby, West, ”, Jaime Lee, “, we’ve, ” Lee, Chris Sherman, ” Sherman, Sherman, you’re, Jason Ward, Ward, Eric Adams, John Watson, ” Watson, Watson, Kelly Wilkinson Organizations: CNN, Moody’s, Texaco, Jamison Group, ”, Jamison, Sherman Associates, “, Local, RAND, Housing, Homelessness, New York City, Pfizer, Indianapolis Star Locations: United States, Los Angeles, Koreatown, West Coast, Minneapolis, New York, New, Indianapolis, “, Indiana University's

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