New York Posts – Business

  • Steve Cohen’s hedge fund sued over use of another fund’s name
    by Reuters on April 26, 2018 at 3:11 pm

    Billionaire Steven Cohen’s hedge fund was sued on Wednesday by a San Francisco money manager seeking to stop it from using its name on a new investing project. Aperio Group LLC, which said it has more than $25 billion of assets under management, said Cohen’s Point72 Asset Management LP has caused confusion among customers, causing... […]

  • Southwest says deadly engine disaster is hurting business
    by Reuters on April 26, 2018 at 3:08 pm

    Southwest Airlines on Thursday warned that fallout from a fatal mid-air explosion last week will weigh on second-quarter bookings, as investigators continued to probe the events that led to the first passenger death in the airline’s history. Second-quarter unit revenue will drop by 1 percent to 3 percent, the carrier said in its quarterly earnings... […]

  • Tesla’s head of Autopilot is leaving company
    by Post Staff Report on April 26, 2018 at 2:04 pm

    Tesla said Jim Keller, who had been in charge of the electric-car maker’s controversial Autopilot software, has left the company. Keller will be replaced by Pete Bannon, who has been with Tesla for over two years and has previously overseen Apple’s A5 chip develop through to the A9 chip, a Tesla spokeswoman said. Keller will... […]

  • Bahamas billionaires’ $50M brouhaha is back on
    by Richard Morgan on April 26, 2018 at 3:47 am

    The 10-year battle of billionaires Louis Bacon and Peter Nygard isn’t over yet. A New York appellate court gave hedge funder Bacon’s $50 million defamation suit against his Bahamian next-door neighbor, Canadian fashion-mogul Nygard, a new life this week. The two have been feuding in US and UK courts after a disagreement involving Nygard attempting... […]

  • Why the Fed is an underrated player in Washington politics
    by John Crudele on April 26, 2018 at 2:45 am

    The political drama that’s playing out in Washington has one actor that hasn’t yet been introduced — the Federal Reserve. And while the Fed may only be an understudy at this point, it could end up with a leading role. Let me explain. The Fed has raised interest rates six times since 2015, the last... […]

  • NYC restaurants propose surcharges for all diners
    by Lisa Fickenscher on April 26, 2018 at 2:36 am

    Big Apple restaurants are at a tipping point. With record hikes in wages over the past couple of years — on top of rising rent, food and other costs — restaurant owners pressed City Hall lawmakers to allow them to levy a surcharge on all diners to cover their bloated expenses. Without the surcharge, which... […]

  • Wilson Sporting Goods releases details on new ‘smart’ football
    by Richard Morgan on April 26, 2018 at 2:26 am

    You’ve heard of RoboCop, how about RoboQB? Just in time for Thursday’ s NFL Draft, Wilson Sporting Goods is releasing details on its new smart football, whose sensors, it claims, will provide information on release time, spin rate, spiral efficiency and speed. The Wilson Connected Football system will help quarterbacks learn to throw the ball... […]

  • Chipotle shares up after stronger-than-expected Q1 sales
    by Lisa Fickenscher on April 26, 2018 at 1:57 am

    Change is on the menu at Chipotle Mexican Grill. The burrito joint’s new chief executive, Brian Niccol, said on Wednesday that he’d consider introducing new menu items, expanding its hours, redesigning its interiors — and even adding drive-throughs as he pilots a turnaround of the embattled chain. So far, Nicol seems to be headed in... […]

  • Ford is killing off nearly all of its cars in favor of SUVs
    by Fox News on April 26, 2018 at 12:34 am

    Ford is eliminating nearly all of its car models in North America as it reinvents itself as a utility vehicle-focused brand in an effort to improve its operating efficiency and profit margin. The Taurus, Fusion, Fiesta and C-Max will be discontinued, leaving only the Mustang and a new crossover-style compact called the Focus Active in... […]

  • Snapchat shares dive 7 percent amid redesign doubts
    by Nicolas Vega on April 25, 2018 at 10:15 pm

    Snapchat’s parent just can’t seem to get it right. Snap Inc. shares tumbled after it announced changes to a redesign — one that caught a ton of flak almost two months to the day after a divisive facelift that irked celebs like Kylie Jenner. Stock in the Venice, Calif., company headed by Evan Spiegel declined... […]