The billionaire space race is heating up. Virgin Galactic founder Sir Richard Branson is reportedly weighing how he can beat Amazon founder Jeff Bezos to space next month. Bezos, who has a net worth of about $191 billion, announced on Monday that he and his younger brother will be among the passengers on Blue Origin’s...Read More
The billionaire owners of the Philadelphia 76ers and the Atlanta Hawks are as sharp-elbowed as the NBA teams’ players — and that’s not all they’ve got in common.Buyout king Josh Harris, who bought the Sixers in 2011, is tied at a game a piece in the second-round, best-of-seven playoff series against his fellow private-equity mogul Antony Ressler,...Read More
Two years after threatening to crack down on food delivery companies like Grubhub and Uber Eats, the New York State Liquor Authority has delivered a ruling that has both restauranteurs and delivery companies hopping mad. The SLA on Wednesday adopted new rules that will require New York restaurants with a liquor license to add up...Read More
Goldman Sachs may finally be able to put the 1MDB scandal behind it. The bank has 10 days to pay the remaining $1.26 billion of a $2.3 billion fine it owes the US government, according to a Bloomberg report. Goldman was charged with wrongdoing for bribing foreign officials to keep its business relationship with 1Malaysia...Read More
A federal judge has dismissed a lawsuit accusing McDonald’s of racial discrimination for steering black franchise owners to underperforming stores. In a decision on Tuesday, US District Judge Harry Leinenweber said the plaintiffs did not show that McDonald’s executives or managers treated black store owners differently from non-black owners, or when this might have occurred. “The court does...Read More
The US will buy 500 million more doses of the Pfizer COVID-19 vaccine to share through the global COVAX alliance for donation to 92 lower-income countries and the African Union over the next year, a person familiar with the matter said Wednesday. President Joe Biden was set to make the announcement Thursday in a speech...Read More
The New York Times on Wednesday named Stella Bugbee to edit its Styles section — a day after the embarrassing announcement that New York magazine had hired the paper’s previous Styles editor, Choire Sicha. Bugbee’s hire at the Times means that she is effectively switching places with Sicha, who is taking her previous job as...Read More
Chipotle has raised its menu prices by up to 4 percent to cover the costs of higher wages for employees, the company’s Chief Financial Officer John Hartung announced. “You take about a 4 percent price increase to cover the dollar cost of the extra labor,” Hartung said Tuesday at the Baird Global Consumer, Technology &...Read More
Shares of cloud-computing company Fastly are up more than 12 percent since the company’s high-profile glitch took down many of the world’s most popular websites yesterday morning. For about an hour on Tuesday, many internet users were unable to access Google, Reddit, Twitter, Spotify and thousands of other sites due to an outage at Fastly....Read More
Embattled electric truck maker Lordstown Motors has revealed that there’s “substantial doubt” about its ability to stay in business through the end of the year. Lordstown, which is backed by General Motors, revealed a going-concern notice Tuesday in a regulatory filing that amended its annual report. Going-concern notices can warn investors of threats to their...Read More
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