JPMorgan Chase & Co isn’t on the hook for all of Charlie Javice’s legal fees as the fight between the founder of financial aid site Frank and one of the world’s biggest banks continues. Judge Kathaleen St. Jude McCormick said Wednesday that JPMorgan Chase doesn’t have to pay for the fees associated with six counterclaims … Read more
The chief financial officer who oversees New York City’s five public pension funds, with $242 billion in assets, has something to say to BlackRock CEO Larry Fink’s asset management firm and Jamie Dimon’s J.P. Morgan Asset Management: You guys are failing. “By caving into the demands of right-wing politicians funded by the fossil fuel industry … Read more
U.S. stocks set another record Thursday following some mixed reports on the economy. The S&P 500 rose 29.11 points, or 0.6%, to 5,029.73 and squeaked by its prior all-time high set last week. The Dow Jones Industrial Average gained 348.85, or 0.9%, to 38,773.12, and the Nasdaq composite climbed 47.03, or 0.3%, to 15,906.17. TripAdvisor … Read more
For five years, a New York City man managed to live rent-free in a landmark Manhattan hotel by exploiting an obscure local housing law. But prosecutors this week said Mickey Barreto went too far when he filed paperwork claiming ownership of the entire New Yorker Hotel building — and tried to charge another tenant rent. … Read more
Auto workers held waves of walkouts. Hollywood actors and writers picketed for months. And healthcare, education and hospitality employees also withheld their labor while calling for improved pay and job conditions. The number of U.S. workers on strike more than doubled last year. According to an annual report from the Labor Action Tracker, a collaboration between researchers … Read more
Pershing Square’s Bill Ackman folded on his short bet against Herbalife Ltd nearly six years ago but he’s calling Thursday’s record tumble a win. The stock of the weight-loss shakes and vitamins seller plunged 32% to a 14-year low, after a quarterly earnings report that fell short of analyst expectations. In the last six months, … Read more
In the world of tech and business, data and decision-making are practically an inseparable pair. Companies from all sizes—from small businesses to Fortune 500 corporations—are using data for things like targeting ads, predicting customer performance, and identifying cost-cutting strategies. By next year, data will be used to optimize nearly every aspect of work, McKinsey predicts. … Read more
The muted sounds of hammering and sanding drift down to the first floor of Bario Neal, a jewelry store in Philadelphia, where rustic artwork that mimics nature hangs on warmly-lit walls. Waiting for one of those rings is Haley Farlow, a 28-year-old second grade teacher who has been designing her three-stone engagement ring with her … Read more
Workers who help bring Disneyland’s beloved characters to life — including Mickey Mouse, Donald Duck and Cinderella — are looking to unionize. Labor organizers announced the campaign Tuesday, saying performers want better safety conditions and scheduling policies to help them keep the magic alive for visitors. While most of the more than 35,000 workers at … Read more
The U.S. House voted Tuesday to impeach Homeland Security Secretary Alejandro Mayorkas, with the Republican majority determined to punish the Biden administration over its handling of the U.S-Mexico border after failing last week in a politically embarrassing setback. The evening roll call proved tight, with Speaker Mike Johnson’s threadbare GOP majority unable to handle many defectors or absences … Read more