New York Post - Business

Free trading app Robinhood may be behind Virtu’s stellar 2Q

Fri, 07 Aug 2020 23:35:46 GMT

Mom-and-pop investors spending their stimulus checks on no-fee trading apps like Robinhood weren’t all winners in the June rally they fueled, but one Wall Street firm that executed their trades appears to have made out big. Virtu Financial, a $10 billion Manhattan-based provider of trading services, announced gangbuster trading income on Friday, which Wall Streeters...

Bob Greenblatt out at HBO-parent WarnerMedia as larger layoffs loom

Fri, 07 Aug 2020 23:25:37 GMT

WarnerMedia’s new chief executive is wasting no time putting his stamp on the film and TV giant behind “Game of Thrones” and “Aquaman.” Jason Kilar, best known as founding CEO of Hulu, sent three top WarnerMedia executives packing on Friday after his third month on the job, including Bob Greenblatt, chairman of WarnerMedia Entertainment. Also...

Dwayne ‘The Rock’ Johnson wants to tap the XFL’s reality-TV potential

Fri, 07 Aug 2020 22:57:48 GMT

The XFL has new owners -- and they plan to tackle their investment with Hollywood flair.

DOJ kills 1948 rule separating Hollywood studios from movie theaters

Fri, 07 Aug 2020 21:36:55 GMT

Shares of struggling cinema chains jumped on Friday after the Department of Justice scrapped 72-year-old rules severely limiting Hollywood’s ability to buy movie theaters. Friday’s ruling paves the way for film studio giants like Disney and Netflix to look beyond one-off purchases of small theaters and set their sights on buying larger swaths of cinemas....

January Jones isn’t very subtle flirting with Kawhi Leonard

Fri, 07 Aug 2020 20:43:04 GMT

Actress January Jones took to social media to swoon over Los Angeles Clippers star Kawhi Leonard. Jones posted two Instagram stories of the two-time NBA champion, taken after he led the Clippers to an easy 126-111 victory over the Dallas Mavericks on Thursday night. In the first story, the former star of “Mad Men” added...

Delta wants at least 3,000 flight attendants to take unpaid leave

Fri, 07 Aug 2020 20:01:31 GMT

Delta Air Lines will need at least 3,000 of its roughly 20,000 flight attendants to take unpaid leave of four to 12 months, or consider other options, to avoid involuntary furloughs, a person with knowledge of the matter said Friday. Airlines are suffering their worst crisis in history due to the coronavirus pandemic, which decimated...

Goldman Sachs restates quarterly earnings on 1MDB settlement

Fri, 07 Aug 2020 17:41:28 GMT

Goldman Sachs on Friday lowered its previously stated quarterly earnings as the bank set aside more money to pay for its settlement with the Malaysian government over the multi-billion-dollar 1MDB scandal. Goldman lowered its net earnings applicable to common shareholders to $197 million from $2.25 billion, in a filing published Friday. The revised earnings reflect...

Coronavirus helps subscription numbers at struggling Dish Network

Fri, 07 Aug 2020 15:51:17 GMT

The coronavirus pandemic has helped stanch the bloodletting at Charlie Ergen‘s struggling satellite TV company Dish Network. The Englewood, Colo.-based company on Friday reported fewer than expected subscriber losses for the three months ended June 30, thanks to stay-at-home orders that kept customers at home watching TV. Dish, which has been hurt by the growth...

Facebook gives employees $1,000 as it extends remote work to July 2021

Fri, 07 Aug 2020 14:29:24 GMT

It’s looking like Big Tech isn’t going back to the office anytime soon. Facebook this week announced it will allow its employees to work from home until next July, following in the footsteps of Google, which has also told workers to stay home until summer 2021. The social networking giant will also give employees $1,000...

US economy’s growth slows in July, adding 1.8 million jobs amid COVID-19

Fri, 07 Aug 2020 12:49:13 GMT

The US economy's growth slowed in July, adding just 1.8 million jobs following skyrocketing numbers of COVID-19 cases in states like Texas and Florida.

TikTok threatens legal action against Trump’s executive order to ban app

Fri, 07 Aug 2020 11:33:22 GMT

TikTok has threatened legal action following President Trump's executive order banning transactions beginning in 45 days between American firms and the Chinese parent company of the app.

UrbanSpace to bring fresh business to NYC’s Union Square amid COVID-19

Fri, 07 Aug 2020 02:25:48 GMT

The fifth UrbanSpace in Manhattan, slated to open in 2021, will offer interactive online ordering with is traditional “curated” food stands.

AMC revenues plummet in ‘most challenging quarter’ in 100 years

Thu, 06 Aug 2020 21:57:44 GMT

AMC Entertainment, the nation’s largest movie theater chain, said it lost half a billion dollars in the second quarter, making it the company’s worst quarter since it was founded in 1920. The chain, which was forced to close cinemas across the nation as the coronavirus swept the nation in March, said it swung to a...

City Council moves to extend food delivery caps on Grubhub, UberEats

Thu, 06 Aug 2020 21:40:15 GMT

Food-delivery companies like Grubhub and UberEats can expect their margins to get squeezed in the Big Apple for a while longer, The Post has learned. City Council members are slated to meet Aug. 13 to extend emergency legislation that caps the commissions and delivery fees those companies charge restaurants. Passed in May, the strict rules...

Uber’s food delivery business doubles as ride demand crushed amid COVID-19

Thu, 06 Aug 2020 21:16:11 GMT

Uber Technologies Inc said demand for its food delivery service more than doubled in the second quarter as many users remained largely homebound, while demand for ride-hailing trips was only marginally recovering from pandemic rock bottom. The company said that despite those larger challenges it is sticking to its goal of being profitable on an...

Growing number of nations consider TikTok ban over China ties

Thu, 06 Aug 2020 18:02:15 GMT

President’s Trump looming TikTok ban may only be the beginning of the popular video app’s headaches, as a growing number of nations are becoming suspicious of its ties to China. US ally Australia is reportedly looking at TikTok’s Beijing-based parent company ByteDance to see whether it poses a security threat to the country’s 25 million...

NBCUniversal ousts top exec Paul Telegdy amid misconduct probe

Thu, 06 Aug 2020 17:55:12 GMT

Comcast’s NBCUniversal division has ousted top exec Paul Telegdy amid a misconduct investigation that was spurred by an explosive report by The Hollywood Reporter last week. Telegdy, the chairman of NBC Entertainment who has overseen hit shows like “America’s Got Talent” and “The Voice,” had been earmarked to spearhead one of NBCUniversal’s new business units...

ViacomCBS says worst is over after 12 percent coronavirus drop

Thu, 06 Aug 2020 16:34:17 GMT

ViacomCBS, home of “Survivor” and MTV, saw a 12-percent slump in sales last quarter as the coronavirus pandemic sent ad sales down 27 percent. The declines were offset, however, by growth in the media company’s streaming business, which saw revenues rise 25 percent as more consumers hunkered down at home during the pandemic. Despite the...

Amazon CEO Jeff Bezos sells $3 billion worth of stock

Thu, 06 Aug 2020 15:21:44 GMT

Jeff Bezos is cashing in on the coronavirus. The 56-year-old Amazon CEO on Wednesday sold $3.1 billion worth of stock in the e-commerce juggernaut, bringing his total stock sales for the year to over $7 billion. The world’s richest man sold exactly 1 million shares of Amazon Wednesday — a week after the company shattered...

Adidas expects profit rebound as COVID-19 shakes up fashion world

Thu, 06 Aug 2020 13:04:57 GMT

Coronavirus-fueled office closures have provided a surprising boost to Adidas, which on Thursday announced it expects to return to profitability in the third quarter as more customers dress down as they work from home. The German sportswear giant’s CEO told reporters that customers in the 18-34 age group say they plan to spend more time...