New York Posts – Business

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  • Former HSBC exec gets 2 years in prison for currency scam
    by Kevin Dugan on April 26, 2018 at 8:53 pm

    A British trader accused of bragging that ripping off a client was like “f—ing Christmas” was sentenced to two years in prison on Thursday amid a global crackdown on currency rigging. Brooklyn federal Judge Nicholas G. Garaufis deemed Mark Johnson, a former top HSBC trader who’s worth about $2 million, a flight risk and denied... […]

  • Chinese start-ups hire attractive women to ‘motivate’ male coders
    by on April 26, 2018 at 7:42 pm

    It might sound like something that belongs in an episode of HBO’s “Silicon Valley” which spoofs the eccentricities of US start-up culture, but this is real. Start-up tech companies in China have come up with an unusual way to keep their employees — namely coders, programmers and engineers — happy and relaxed. Officially they’re called... […]

  • Facebook exec grilled by UK Parliament over data leaks
    by Nicolas Vega on April 26, 2018 at 7:07 pm

    A top Facebook executive got grilled Thursday by British lawmakers, who angrily demanded answers about the company’s data leak scandal. At a hearing before Parliament’s Digital, Culture, Media and Sport Committee, MP Julian Knight told the tech exec that the social network is “a morality-free zone destructive to a fundamental right of privacy.” Facebook has... […]

  • Developer Michael Shvo settles art sales tax case for $3.5 million
    by Lois Weiss on April 26, 2018 at 7:05 pm

    Michael Shvo, the luxury broker turned developer, has settled his ongoing art sales criminal tax case for roughly $3.5 million, including penalties, The Post has learned. “We are pleased that this tax matter, arising from Mr. Shvo’s work in the art world, has been resolved,” his attorney Benjamin Brafman told The Post from Manhattan Supreme... […]

  • 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... […]

  • 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... […]

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