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Business | New York Post

Your source for breaking news, news about New York, sports, business, entertainment, opinion, real estate, culture, fashion, and more.

Last Build Date: Fri, 20 Jan 2017 16:46:15 +0000


Uber to pay $20M for exaggerating how much it pays drivers102216uber13cs

Fri, 20 Jan 2017 11:45:23 -0500

Uber has agreed to pay $20 million to settle claims by the US government that it exaggerated prospective earnings in seeking to recruit drivers and downplayed the costs of buying or leasing a car. The ride-hailing company said on its website that some Uber drivers made more than $90,000 in New York and $74,000 in...

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Jury finds hedge funder guilty in 90 minuteslumiere

Thu, 19 Jan 2017 22:48:27 -0500

Manhattan federal court jurors took just 90 minutes on Thursday to find Stefan Lumiere, a former hedge fund portfolio manager, guilty of securities fraud and conspiracy charges. The quick verdict shocked Lumiere’s family and legal team. “I know my brother is innocent,” the hedgie’s sister, Alexandra Lumiere Gottlieb, told The Post. Lumiere cheated investors of...

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Paul Ryan meets private equity moguls over tax proposalpaul-ryan

Thu, 19 Jan 2017 22:22:25 -0500

House Speaker Paul Ryan, who has proposed a tax plan that will inflict some financial pain on private equity firms, had dinner on Tuesday with two powerful PE moguls bent on talking the influential lawmaker out of such a move, The Post has learned. Leon Black and Henry Kravis dined with Ryan in Manhattan and...

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Jamie Dimon’s pay jumps to a whopping $28 millionJP Morgan Chase CEO Jamie Dimon Testifies At House Financial Services Hearing

Thu, 19 Jan 2017 19:44:49 -0500

Jamie Dimon, chief executive of JPMorgan Chase, saw his total 2016 compensation increase by $1 million, or 3.7 percent, to $28 million, a bank filing on Thursday revealed. Most of Dimon’s compensation is in JPMorgan shares that vest over several years. He received $1.5 million in salary and a $5 million cash bonus. While the...

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Sony is weighing a sale of film, TV businessJAPAN-EARNINGS-GAMES-ELECTRONICS-SONY-COMPANY

Thu, 19 Jan 2017 19:10:19 -0500

No wonder Sony Entertainment boss Michael Lynton is leaving. Tokyo’s Sony Corp. is listening to bank pitches about a potential sale of its film and TV operations, several sources told The Post. “Every bank is pushing pitches,” said one person familiar with the process. Another confirmed that banks have paid a flurry of visits to...

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Peter Thiel may be tapped as ambassador to Germanypeter-thiel

Thu, 19 Jan 2017 17:23:53 -0500

Tech billionaire Peter Thiel has been in talks to become US Ambassador to Germany for the Trump administration, sources told The Post. The Trump team could fill the top diplomatic post in Berlin as soon as this week, sources said. It couldn’t immediately be confirmed, however, whether Thiel is still in the running. Rumors of...

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Shake Shack founder talks racist history of tippingshake-shack-danny-meyer

Thu, 19 Jan 2017 15:51:02 -0500

Restaurateur Danny Meyer, who famously ditched gratuities at several of his New York eateries, recently spoke out about the racist roots of tipping, calling the practice “one of the biggest hoaxes ever pulled on an entire culture.” The Shake Shack founder explained on WNYC’s “The Sporkful” podcast earlier this month that tipping began in the...

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Mnuchin: I didn’t run a ‘foreclosure machine’

Thu, 19 Jan 2017 11:43:58 -0500

Donald Trump’s nominee for Treasury secretary defended himself on Thursday against claims that a bank he ran callously foreclosed on thousands of homeowners after the 2008 economic downturn. “Since I was first nominated … I have been maligned as taking advantage of others’ hardship in order to earn a buck. Nothing could be further from...

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Mark Zuckerberg is trying kick neighbors off his propertyINDIA-INTERNET-FACEBOOK-COMPUTERS

Thu, 19 Jan 2017 11:03:41 -0500

Facebook CEO Mark Zuckerberg just wants to be left alone – and now he’s suing his neighbors in Hawaii to be able to do just that, according to a new report. Two years ago, Zuckerberg plunked down $100 million for a secluded 700-acre estate in Kauai two years ago, but the property has been anything...

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Judge to block mega-merger of Anthem and CignaPeople walk past the office building of health insurer Anthem in Los Angeles, California

Thu, 19 Jan 2017 10:46:18 -0500

A federal judge is expected to block a proposed mega-merger between Anthem and Cigna — a $54 billion deal that would create the nation’s biggest health insurer — as soon as Thursday, sources told The Post. In what looked like a bid to get ahead of the judge’s smackdown, Anthem said in a public filing...

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