New York Post - Business

GameStop short seller says he’s being threatened by its investors

Fri, 22 Jan 2021 23:03:54 GMT

This is one sick game. Investors piled into shares of GameStop on Friday, sending the video game retailer up 51 percent in an apparent effort to squeeze out a short seller who says he’s being threatened and harassed for predicting that GameStop’s shares are going to $20. Noted short seller Andrew Left of Citron Capital...

Gamers threaten to defect to PlayStation after Xbox Live price hikes

Fri, 22 Jan 2021 22:57:11 GMT

Microsoft said Friday it will jack up the price for its Xbox Live Gold memberships — provoking threats from some gamers to jump ship to rival Playstation. A one-month membership to the Xbox Live, which is necessary to play games like “Call of Duty” online, is increasing from $10 to $11, while a three month...

NBC shuttering NBC Sports Network to move events to USA, Peacock

Fri, 22 Jan 2021 22:47:57 GMT

NBC Universal plans to shutter its sports channel NBCSN by the end of the year, resulting in the NHL having to move its broadcasts to USA Network, the company announced on Friday. The move is in line with the current media trend of consolidating cable channels, while NBC appears to also be working on growing...

Ex-staffer being sued by Tesla denies he stole massive cache of code days after starting work

Fri, 22 Jan 2021 21:45:43 GMT

Tesla on Friday accused now-fired software engineer Alex Khatilov of stealing a massive cache of code within days of starting his job — but the ex-staffer tells The Post the case is just a misunderstanding.

Wall Street bigs press for speedier COVID vaccine rollout in NY

Fri, 22 Jan 2021 21:19:51 GMT

New York City’s business leaders are concerned about the state’s troubled COVID vaccine rollout — and they’re offering to mobilize their clout and resources to help speed it up. Reps from dozens of city-based firms led by Goldman Sachs chief David Solomon held a Thursday call with Larry Schwartz, a former top aide to Gov....

Ticket brokers settle for $35M over charges of cheating customers

Fri, 22 Jan 2021 20:56:13 GMT

Three ticket brokers based on Long Island have agreed to settle civil charges that they cheated consumers by illegally purchasing tens of thousands of tickets for concerts, theater, sports and other events, and reselling them at substantial markups. Settlements totaling $35.3 million with Just In Time Tickets, Concert Specials and Cartisim – all based in...

New York lost 1 million jobs in 2020 due to COVID-19

Fri, 22 Jan 2021 20:54:15 GMT

Here’s why New Yorkers need to get a whole lot more coronavirus vaccine: The economy is in the tank. New York state shed 1 million jobs during the COVID-19 pandemic in 2020 amid lockdowns and meltdowns in tourism and business activity, a sobering new report reveals. That means 10 percent of the state workforce vanished....

Intel probes reported hack of quarterly earnings report

Fri, 22 Jan 2021 19:13:58 GMT

Intel launched an investigation after a hacker reportedly stole part of its quarterly earnings report, forcing the computer-chip maker to publish its results early. Chief financial officer George Davis told the Financial Times that an infographic from its earnings release was hacked from the company’s PR website. Intel said it is probing reports of the...

Ford finally forced to recall 3 million cars over air bag concerns

Fri, 22 Jan 2021 18:02:31 GMT

Ford just lost a lengthy battle with the feds over orders to recall about 3 million cars — and it won’t be cheap. The affected vehicles from model years 2006 through 2012 have faulty driver-side air bag inflators that could rupture and send metal fragments flying into the air. Ford plans to replace the inflators...

Instacart axes 1,900 employees, including its only unionized workers

Fri, 22 Jan 2021 17:23:54 GMT

Instacart will lay off its only unionized workers as part of a plan to ax nearly 1,900 employees stationed in supermarkets across the country. The grocery delivery firm employs several thousand shoppers who pack grocery orders at stores for pickup or delivery. That’s unlike the roughly 500,000 independent contractors who pick up items from various...

Saks Fifth Avenue plotting a possible spinoff of Saks.com

Fri, 22 Jan 2021 15:38:31 GMT

Saks Fifth Avenue is looking to spin off its dot-com business in a potential initial public offering within a year. The luxury retailer owned by Toronto-based Hudson’s Bay Co. left the Toronto Stock Exchange in March to become a privately held company, but management has prepared materials for investors to consider in preparation for an...

Elon Musk says he’ll award $100M to the best carbon capture technology

Fri, 22 Jan 2021 15:27:36 GMT

Elon Musk has $100 million burning a hole in his pocket. The Tesla CEO, who earlier this month became the world’s richest person, said he will award a massive prize to whoever is able to develop the best tool to capture planet-warming carbon emissions. “Am donating $100M towards a prize for best carbon capture technology,”...

Alphabet scraps ‘moonshot’ Loon internet balloon project

Fri, 22 Jan 2021 14:59:26 GMT

Google parent Alphabet has announced that it is letting the air out of its internet-beaming balloon project — the latest of the tech giant’s “moonshot” programs to get scrapped. Loon, which used high-flying balloons to bring internet to remote areas of the globe, will be winding down its operations after it said the technology proved...

Johnson & Johnson eyes 100M COVID-19 vaccines for US by April

Fri, 22 Jan 2021 14:07:28 GMT

Johnson & Johnson hopes to have enough COVID-19 vaccines for 100 million Americans by April as the feds ramp up nationwide inoculation efforts, a company official says.

One-shot COVID-19 vaccine may give Johnson & Johnson an edge

Fri, 22 Jan 2021 13:24:33 GMT

Less may be more when it comes to rolling out a coronavirus vaccine. Johnson & Johnson’s one-dose vaccine could have an edge over Pfizer and Moderna’s shots– even though it’s still several weeks away from approval in the US, Wall Street analysts told The Post. That’s because the single jabs will likely be easier to...

Google threatens to shut off search engine in Australia over news law

Fri, 22 Jan 2021 13:19:42 GMT

Google on Friday threatened to shut off its search engine in Australia if officials there approve a law requiring it to pay news publishers for their content. The Silicon Valley titan escalated its aggressive fight against the proposal, saying the measure would “break the way Google works” because the company would have to pay to...

Record number of NYC eateries sign up for Restaurant Week

Thu, 21 Jan 2021 22:25:10 GMT

Restaurant Week will get participation from a record 571 eateries in all five boroughs of the Big Apple when it kicks off next week, according to the city’s tourism bureau. It will be the first time the decades-old promotion will be a take-out only event — dubbed “Restaurant Week To Go” this year — due...

Hedge-fund tycoon says investors are like frogs slowly boiling in a pot

Thu, 21 Jan 2021 22:23:03 GMT

If you start to feel warm — with a sudden urge to hop out of the stock market — there might be a reason for that. A prominent hedge-fund tycoon said investors are like frogs who are getting slowly boiled in a pot as he warned of the risks of easy money from the US...

Judge rules that Amazon won’t be forced to host Parler

Thu, 21 Jan 2021 21:33:22 GMT

A federal judge on Thursday declined to force Amazon to bring controversial social network Parler back onto its cloud service. Parler had sued Amazon Web Services last week after the tech titan forced it to go dark — a decision that AWS blamed on the social network’s failure to police the threats of violence the...

Bonnier scraps auction of Yachting, Sailing World, other boating mags

Thu, 21 Jan 2021 21:29:33 GMT

Bonnier, the Swedish media giant that early last year unveiled plans to sail away from most of the magazines it owns in the USA, has suddenly reversed course and plans to hang onto its boating titles that include Yachting and Sailing World. A company spokeswoman confirmed the titles, including Yachting, Boating, Flying, Salt Water Sportsman,...