New York hardest hit state by COVID-19, analysis reveals

New York hardest hit state by COVID-19, analysis reveals

New York was the hardest-hit state in terms of job losses and deaths per capita due to the COVID-19 pandemic, a new analysis has found. On those two measurements combined, the Empire State had the “worst overall outcome” in saving people’s lives and jobs, according to government data by Hamilton Place Strategies. New York lost … Read more

Textile Building at 295 Fifth Avenue to get penthouse

Textile Building at 295 Fifth Avenue to get penthouse

The handsome former Textile Building at 295 Fifth Ave., a century-old monument to the city’s golden age of apparel-making, will soon sport a two-story penthouse addition — among other major changes to prepare the Midtown South property for new life as an wellness- and environmentally-attuned office building. The penthouse — plus a ground-floor courtyard, several … Read more

Stewart Bainum seeks new financing for $680M bid for Tribune

Stewart Bainum seeks new financing for $680M bid for Tribune

A Maryland hotel executive is trying to assemble new financing for a $680 million offer to buy Tribune Publishing after his partner, a Swiss billionaire, pulled out of the bidding for the newspaper chain. Stewart Bainum is talking to other potential investors after Hansjörg Wyss dropped out in the last few days, a person familiar … Read more

JPMorgan forced out trader who cooperated with fed probe: suit

JPMorgan forced out trader who cooperated with fed probe: suit

JPMorgan Chase treated indicted employees better than an executive who cooperated with federal investigators, according to a lawsuit. Commodities trader Donald Turnbull claims in court papers he was abruptly canned from the bank’s precious metals trading group as soon as JPMorgan execs discovered the extent of his cooperation with the U.S. Department of Justice. Ultimately, … Read more

Worker shortage further hurting NYC restaurants

Worker shortage further hurting NYC restaurants

Big Apple restaurants can only serve half their pre-pandemic indoor capacity — and yet they still don’t have enough help to make it work. Eateries are getting crushed by a shortage of workers both in kitchens and on the floor despite sky high unemployment and a growing vaccination effort. It’s part of the national hiring … Read more

Morgan Stanley reveals nearly $1B loss from Archegos implosion

Morgan Stanley reveals nearly $1B loss from Archegos implosion

Morgan Stanley lost nearly $1 billion from the collapse of family office Archegos Capital Management, the bank said Friday, muddying its 150 percent jump in first-quarter profit that was powered by a boom in trading and deal-making. Morgan Stanley was one of several banks that had exposure to Archegos, which defaulted on margin calls late last month and triggered … Read more

Company behind a single NJ deli snags $100M market value

Company behind a single NJ deli snags $100M market value

A company that owns a single deli in south New Jersey became worth more than $100 million on the stock market in recent months — marking the latest oddity of the “meme stock” era. Hometown International Inc. amassed the meaty valuation even though its sole business engine is Your Hometown Deli, a “home-style” eatery in … Read more

‘Final Fantasy’ maker Square Enix denies sale reports

'Final Fantasy' maker Square Enix denies sale reports

The video game maker behind the popular “Final Fantasy” and “Kingdom Hearts” franchises shot down reports that it’s up for sale on Friday after the chatter sent its stock price soaring. Japanese gaming giant Square Enix tried to quash the rumors following a Bloomberg Japan report that said it had received interest from potential buyers. … Read more