by on June 19, 2018
Amid President Trump’s headaches confirming cabinet secretaries, from neophyte Rex Tillerson to conflict-prone Scott Pruitt to unprepared Betsy DeVos, all of whom squeezed through, Wilbur Ross was a tonic. With his blue power suit and decades of dealmaking, he had the look and the résumé of a commerce secretary. And unlike his boss, Ross promised to divest from almost all his holdings upon entering government, drawing bipartisan praise en route to an easy confirmation. “You have really made ...
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by on June 12, 2018
A new report looks at the impact of speaking fees, free meals and other perks on New York doctors' prescribing habits New York doctors who accepted speaking fees, honoraria, meals and other forms of payment from opioid manufacturers started writing more prescriptions for the narcotic painkillers, according to an analysis from the New York State Health Foundation. When comparing physicians in similar specialties who historically prescribed similar amounts of opioids, the researchers fou...
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by on June 12, 2018
AT&T and Time Warner are not competitors; their proposed merger would be a so-called "vertical integration" of complementary companies. A federal judge on Tuesday gave his blessing to telecom giant AT&T's drive to take over the Time Warner media conglomerate. Judge Richard Leon rejected arguments by Justice Department lawyers that the combined company would be too large and too powerful, and that the $85 billion deal would harm competition and hurt consumers. Time Warner owns CNN, HBO,...
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by on June 6, 2018
Add Josh Kushner to the shortlist of major winners in Microsoft Corp.’s $7.5 billion purchase of GitHub Inc. Kushner’s New York-based venture fund, Thrive Capital, had invested about $150 million for a roughly 9 percent stake in the online platform for developers to share and work together on software code, according to a person familiar with the deal. It was both the firm’s largest investment and biggest return since Kushner founded Thrive a decade ago, the person said. Axios earlier rep...
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by on June 5, 2018
Americans for Prosperity Foundation Chairman David Koch speaks in Orlando, Fla., Aug 30, 2013. Billionaire industrialist Charles Koch on Tuesday announced his brother David Koch is stepping away from a day-to-day role with the family’s business for health reasons and is expected to take similar steps to unwind his involvement with the advocacy machine the Kochs have used to shape American politics. Charles Koch made the announcement via an email message sent to Koch Industries employee...
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by on May 31, 2018
CBD is a chemical compound that, like THC, is derived from cannabis and hemp, but it’s non-psychoactive. Azuca's CBD-infused products include sugar and lemonade. The company will later introduce syrups. As mounting political pressure makes the legalization of recreational cannabis in New York likelier by the day, the founder of a popular brunch spot known for its family-friendly, wholesome vibe is getting ahead of the curve. Bubby’s owner Ron Silver, who founded his original upscale...
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by on May 30, 2018
Wall Street’s long campaign to chip away at the toughest trading restriction imposed on banks after the financial crisis is finally paying off under President Donald Trump. The Federal Reserve Board, now led by Trump appointees, on Wednesday took the most concrete step yet to roll back the Volcker Rule, which was key to Washington’s efforts to make the industry safer after the 2008 meltdown. Fed governors voted 3-0 to seek comment on proposed changes, kicking off an administrative process...
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by on May 23, 2018
Ukrainian leader Petro Poroshenko (left) meets US President Donald Trump at the White House in June 2017 Donald Trump's personal lawyer, Michael Cohen, received a secret payment of at least $400,000 (£300,000) to fix talks between the Ukrainian president and President Trump, according to sources in Kiev close to those involved. The payment was arranged by intermediaries acting for Ukraine's leader, Petro Poroshenko, the sources said, though Mr Cohen was not registered as a representati...
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by on May 22, 2018
State tax breaks for the luggage designer to move less than a mile Away is a direct-to-consumer luggage company Sometimes companies are awarded financial incentives to relocate to New York from another state or overseas. But Monday a retailer was granted $4 million worth of state tax breaks for moving its headquarters from SoHo to … SoHo. The package was granted to Away, a two-year-old luggage designer co-founded by CEO Steph Korey, a former Warby Parker executive. The firm is headq...
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by on May 14, 2018
The Grand Concourse in the Bronx. For lifelong Bronx resident Leette Eaton-White, the first sign of her neighborhood's transformation came by way of her local supermarket. It was there on a shelf that the 31-year old college administrator noticed Method, an organic (and relatively pricey) line of cleaning products. "I had only seen them in Manhattan or Westchester previously," White, who lives in the Northern Bronx's Edenwald section, told CNBC recently in an email. "I instantly tho...
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by on May 11, 2018
Gun-rights group sues Cuomo, DFS over regulatory actions Suit follows Lockton Cos. fine over ’Carry Guard’ insurance The National Rifle Association sued New York state officials over what it described as a "blacklisting campaign" targeting companies that try to do business with the group. The organization filed a complaint Friday in Syracuse federal court accusing New York Governor Andrew Cuomo and the state Department of Financial Services of abuses of regulatory power aimed at sti...
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by on May 10, 2018
Novartis CEO Vasant Narasimhan sent an internal email to employees after the pharmaceutical giant revealed it paid the company of President Trump's lawyer, Michael Cohen, $1.2 million. "We made a mistake in entering into this engagement and, as a consequence, are being criticized by a world that expects more from us," Narasimhan wrote. In a Wednesday statement, Novartis said it entered a one-year agreement with Cohen for guidance on how the Trump administration would approach health-c...
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