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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: Sat, 22 Jul 2017 02:50:50 +0000

 



SEC won’t pursue $17M claw back case against rogue FBI informantUS Federal Agency and World Group Buildings

Fri, 21 Jul 2017 22:22:08 -0400

Guy Gentile just avoided a $17 million headache. The Securities and Exchange Commission will not pursue disgorgement and penalties in its civil fraud case against the former rogue FBI informant, according to documents filed Friday in New Jersey federal court. The decision comes more than a month after the Supreme Court decided on a five-year...


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Should I risk my severance package?shutterstock_677989318

Fri, 21 Jul 2017 18:36:47 -0400

Dear Greg, We were recently notified that our division is shutting down at the end of the year. The firm has offered us severance packages but said that we aren’t eligible for them if we leave before the shutdown. I don’t want to wait until I don’t have a job to look for another job,...


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Jack Ma’s acquisition of MoneyGram could be blockedJack Ma Awards Rural Schoolmasters In Western China

Fri, 21 Jul 2017 16:30:10 -0400

The co-chair of an influential Capitol Hill commission on China believes the US should block the controversial acquisition of MoneyGram by Jack Ma’s Ant Financial. Rep. Chris Smith (R-NJ), the co-chair of the Congressional-Executive Commission on China, thinks Washington should not allow Ant Financial to gain control over MoneyGram and its 30,000 US locations because...


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Wall Street’s gains helping tech industry, real estate leasingFinancial Markets Wall Street

Fri, 21 Jul 2017 14:05:02 -0400

Wall Street once again seems to be the engine that makes New York City’s jobs and real estate sectors rev. Steady growth in the city’s financial services industries has helped it top the tech industry in both job growth and office leasing — although the two are becoming inexorably intertwined as tech jobs grow within...


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Chinese firm sued for allegedly inflating profits ahead of IPOA delivery vehicle of the logistical company ZTO drives past a construction site of residential highrises in Beijing

Fri, 21 Jul 2017 13:02:47 -0400

Chinese courier ZTO Express and the underwriters of its New York stock market listing have been sued by a state pension fund that alleges the firm exaggerated its profit margins to lure investors into its $1.4 billion initial public offering. Morgan Stanley and Goldman Sachs, which spearheaded ZTO’s IPO, are named in the class-action suit...


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Judge weighing lead tycoon Howard Meyers’ fateNYU Campus - The NYU students and faculty, call on the

Thu, 20 Jul 2017 22:59:06 -0400

Lawyers for lead tycoon Howard Meyers appeared in Nevada bankruptcy court on Thursday to ask a judge to dismiss an involuntary Chapter 11 petition brought against his company, EB Holdings II, by a group of creditors. After a lengthy hearing, Judge Mike Nakagawa reserved judgment, sources said. A decision could come in a month.


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Quincy Jones says Michael Jackson estate cheated him out of $30MQuincy Jones

Thu, 20 Jul 2017 22:57:26 -0400

The Michael Jackson estate has cheated Quincy Jones out of $30 million over the past 18 years, the legendary music producer testified on Thursday. Jones, 84, who entered the California courtroom in a wheelchair, according to a report, claims in his 2013 lawsuit that the estate and Sony Music improperly remixed some of the King...


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Michael Jackson’s estate renews deal with SonyThe World Music Awards - Show

Thu, 20 Jul 2017 22:32:44 -0400

The Michael Jackson Estate has decided to re-up its deal with Sony/ATV to administer the music publishing rights to some of the King of Pop’s best-known songs, the publisher confirmed on Thursday. Sony/ATV, run by Martin Bandier, won the rights to the Mijac Music catalogue in 2012 from Warner/Chappelle, which had held them since 1980....


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Chipotle’s latest loss tied to viral rodent stormUS-BUSINESS-CHIPOTLE

Thu, 20 Jul 2017 22:16:26 -0400

Video of three rodents scurrying through a Dallas Chipotle added to the burrito joint’s agita on Thursday — spooking investors and sending the company’s shares to their lowest closing price in four years. The rodents — one of which fell from the ceiling, according to a customer interviewed by the local NBC station — were...


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Norovirus confirmed in person who got sick at Chipotlechipotle_ackman

Thu, 20 Jul 2017 18:36:04 -0400

A person who reported eating at a Chipotle in northern Virginia has tested positive for norovirus. But health officials say that’s not yet enough to determine the cause of the roughly 60 reported illnesses it has identified. The location in Sterling, Virginia, was temporarily closed for cleaning this week after customers reported symptoms that Chipotle...


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Adidas laces up $100M hockey brand sale2017 NHL Stanley Cup Final - Game Five

Thu, 20 Jul 2017 17:41:37 -0400

Adidas has agreed to sell its CCM hockey equipment brand for roughly $100 million to Canadian private equity firm Birch Hill Equity Partners, The Post has learned. The German sports apparel and athletic footwear brand, looking to concentrate on its core businesses, is selling off peripheral units. CCM, based in Weston, Ontario, generates roughly $10...


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McDonald’s will now deliver you a Big Mac to wearMcDonalds-Clothing Line

Thu, 20 Jul 2017 17:12:42 -0400

OAK BROOK, Ill. — With McDonald’s now offering a delivery service, the fast-food giant is looking to make customers comfortable eating at home with a new clothing line that includes an adult-size Big Mac onesie. Oak Brook, Illinois-based McDonald’s describes the McDelivery Collection as “a selection of fun, fashion forward items you can wear or...


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YogaWorks scraps IPO plan in an overstretched market"28 Days To Your Superstar Glow" Book Pre-Release At YogaWorks

Thu, 20 Jul 2017 15:45:20 -0400

YogaWorks has curled back into child’s pose. Shares of the Santa Monica, Calif.-based yoga studio chain were slated for an initial public offering on the Nasdaq Thursday, but the company postponed the debut in an overstretched market. “We’re in an IPO market where investors are really price sensitive and don’t want to overpay,” Kathleen Smith...


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Sears shares surge after deal to link appliances with AmazonRetail Giant Sears Casts Doubt On Future Of Company

Thu, 20 Jul 2017 15:44:30 -0400

Sears owner Eddie Lampert on Thursday gave US shoppers one less reason to schlep to his beaten-down stores, though investors were buoyed. The billionaire hedge fund whiz-turned-retail CEO inked a deal to have one of its most valuable assets — its Kenmore appliances — sold on Amazon. The deal marks the first time Kenmore products...


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Exxon Mobil fined $2M for violating Russia sanctionsEarns Exxon Mobil

Thu, 20 Jul 2017 12:23:16 -0400

The Treasury Department slapped Exxon Mobil with the maximum $2 million fine Thursday for violating sanctions against Russia while Secretary of State Rex Tillerson was running the oil giant. Treasury said in a statement that when Tillerson was Exxon CEO, he showed “reckless disregard” for sanctions that the Obama administration had imposed on Russian individuals...


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It’s raining rats at this Chipotle

Thu, 20 Jul 2017 11:43:01 -0400

At a Chipotle Mexican Grill in Dallas, it wasn’t the food that customers found revolting – it was the sight of falling rats. The rodents began raining down from the ceiling inside the chain’s eatery on North Market Street in the city’s West End, customers told a local NBC affiliate. “If we would have been...


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Blackberry cuts deal with NSA to encrypt texts and phone callsBlackberry

Thu, 20 Jul 2017 09:39:49 -0400

BlackBerry said on Thursday it has won the right to sell tools for encrypting phone calls and text messages to the US federal government, garnering an endorsement from the National Security Agency for the products. The company said it received the endorsement from the NSA’s National Information Assurance Partnership, or NIAP, which reviews commercial technology...


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French’s new owner jumps into mustard battleFrench mustard brand. Frenchs is an American brand of

Thu, 20 Jul 2017 00:07:09 -0400

Spice maker McCormick & Co. has jumped into the middle of a brewing mustard and ketchup battle. The company has agreed to buy a group of food brands, including French’s — famous for its yellow mustard — for a richer-than-expected $4.2 billion — putting it directly in competition with Kraft Heinz Co. Heinz, owned by...


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Why bodegas should think twice before allowing for bitcoin ATMsshutterstock_548307841

Thu, 20 Jul 2017 00:01:47 -0400

What are bitcoin ATMs doing in small bodegas throughout New York City? It’s well known that digital currencies like bitcoin can be used for illicit things such as money laundering. That is, it seems to be common knowledge to everyone except the operators of the small grocery stores that are allowing bitcoin, the original digital...


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NYU donor used his companies as a ‘personal piggy bank’: suitshutterstock_410595937

Wed, 19 Jul 2017 23:55:11 -0400

Wealthy lead tycoon Howard Meyers, a large NYU benefactor, is facing a nasty bankruptcy court battle on Thursday against creditors who claim he defaulted on more than $2 billion in debt — while using proceeds of the corporate loans over the past decade for his personal gain. The creditors, in a second Nevada legal action,...


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