Business | New York Post
Business | New York Post
Walmart creates new health insurance business, looks to hire agents
Walmart is making its latest move into the health care space with its own insurance business, the company said on its website. The world’s largest retailer has created an insurance agency under the name “Walmart Insurance Services LLC” and is looking to hire agents in the Dallas area to sell Medicare insurance, starting in August,...
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Twitter shares spike after it hints at new subscription platform
Shares of Twitter spiked as much as 8 percent Wednesday after the company hinted it’s building a subscription platform codenamed “Gryphon.” Engineers for subscription platform, Twitter says in a job listing, are working closely with Twitter’s payments team, and the listing is looking for someone to “lead the payment and subscription client work.” Twitter last year...
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Carlos Ghosn wired $862K to American who helped him escape, feds say
Fugitive auto tycoon Carlos Ghosn wired nearly $900,000 to one of the Americans accused of aiding his dramatic escape from Japan, the feds said. The former Nissan CEO sent two payments worth $862,500 in October 2019 to a company controlled by Peter Taylor, who helped Ghosn flee Tokyo for Beirut roughly two months later, federal...
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190-year-old NYC bar Neir’s Tavern survives COVID-19
"We are built on being a community gathering place and that has been the key to our success," owner Loycent Gordon says, adding that the historic bar is doing Zoom happy hours. "We had to keep the spirit alive."
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$150M fund created to research existing drugs for COVID-19 treatment
A Philadelphia genetics expert is raising a $150 million fund to unearth existing drugs that may be capable of battling the coronavirus. The pandemic has exposed glaring weaknesses in the pharmaceutical industry, showing there’s scant investment in researching whether drugs that have already been developed for one kind of illness might be used to treat...
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Here’s how much money banks snagged for distributing PPP funds
Big banks bagged a fortune in fees from distributing cash in the US government’s aid program for small businesses stricken by the coronavirus, according to fresh data. JPMorgan Chase reaped $864 million as it handed out $28.8 billion in loans for the Paycheck Protection Program, according to an analysis by S&P Global Market Intelligence. Bank...
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New Yorkers want to keep booze flowing in post-coronavirus food delivery
New Yorkers like getting booze with their take-out food and want to make the offering permanent after the coronavirus passes, according to a restaurant industry survey released Tuesday. The New York State Restaurant Association said allowing alcoholic drink purchases with take-out meals during the COVID-19 crisis has provided a “lifeline” to eateries during the lockdown....
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Activists vow to widen Facebook ad boycott after Zuckerberg meeting
An ad boycott against Facebook is threatening to get wider after a meeting over hate speech between Mark Zuckerberg and civil-rights groups fizzled. The social network’s 36-year-old chief executive, along with his top lieutenant Sheryl Sandberg, met on Zoom Tuesday with the organizers of the monthlong boycott — which has attracted more than 400 advertisers...
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Movie theaters sue New Jersey over ‘unconstitutional’ virus closures
The nation’s biggest movie theaters have sued the state of New Jersey, claiming that keeping cinemas closed because of the coronavirus is “unconstitutional” as churches, indoor malls and other retailers are allowed to reopen. AMC, Regal and Cinemark are among a group of theater chains that filed a lawsuit against the Garden State and Gov....
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New iPhones will have OLED displays, but no chargers or earbuds: report
Apple’s cheaper iPhones will be getting a major upgrade this fall — but also will come without some basic accessories, according to a report. Apple reportedly plans to release four new iPhone models later this year, which will serve as the successors to the iPhone 11 and iPhone 11 Pro family of devices. For the...
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US hiring surged to record high in May as businesses reopen
US hiring surged to a record high in May and layoffs declined as businesses reopened, but the signs of improvement in the labor market have been overshadowed by a resurgence in COVID-19 cases.
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US needs to invest in chipmakers to compete in 5G: report
The US will have to beef up its investment in chipmakers if it hopes to compete against China in the fast-growing business of high-speed 5G wireless networks, according to a Japanese technology company. As China continues to zoom past the US in terms of 5G infrastructure and hardware, American officials and businesses are hoping to...
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SiriusXM nears $300M deal to buy Stitcher podcast service
SiriusXM is nearing a $300 million deal to buy the Stitcher podcasting platform from broadcaster E.W. Scripps, sources told The Post. The acquisition would give the satellite radio giant a foothold in the growing podcast business, which is led by music streamer Spotify — and made a big push into the space this spring. Insiders...
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Sheryl Sandberg denies Facebook is feeling pressure from ad boycott
Facebook is making changes to its hate speech policies ahead of its meeting with civil rights leaders on Tuesday, but operating chief Sheryl Sandberg insists they aren’t in response to high-profile ad boycotts. In a Tuesday morning post on her Facebook page, Sandberg said that the results of the company’s two-year independent civil rights audit...
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Deutsche Bank hit with $150 million penalty over Jeffrey Epstein ties
New York regulators slapped Deutsche Bank with $150 million in penalties over its relationship with pedophile financier Jeffrey Epstein, officials said Tuesday. The bank agreed to pay in a settlement with the state’s Department of Financial Services, which found it failed to probe transactions that should have raised red flags about Epstein’s sex-trafficking activity —...
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Silicon Valley data-analysis titan Palantir files to go public
Palantir — the Silicon Valley data-analysis titan once valued at $20 billion — has filed paperwork to take its stock public. The Palo Alto, California-based company confidentially submitted a registration statement for a proposed public listing to the Securities and Exchange Commission, it announced late Monday. Palantir said its shares would start trading publicly after...
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Novavax gets $1.6 billion from government to develop coronavirus vaccine
The feds have committed $1.6 billion to help biotech firm Novavax develop its coronavirus vaccine and produce 100 million doses, potentially starting later this year. The award announced Tuesday is the largest so far from Operation Warp Speed, the Trump administration’s effort to deliver a vaccine by January. “Adding Novavax’s candidate to Operation Warp Speed’s...
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