Daily business news in New York
NEW YORK — AvantGuard, a fast-growing company in the antimicrobial industry, has completed a $2.85 million seed funding round. The funds will be used to accelerate the development and expansion of its innovative antimicrobial chemistries, as well as to hire additional scientists to further develop the product and expand the company’s global reach. The round […]
NEW YORK — NBCUniversal’s top advertising executive, Linda Yaccarino, is leaving the company, effective immediately. Yaccarino (pictured) is set to become the new CEO of social network Twitter in San Francisco. Mark Marshall, currently President, Advertising Sales and Client Partnerships, will become interim Chairman of NBCUniversal’s Advertising and Partnerships group, reporting to Mark Lazarus, Chairman, […]
CENTRAL ISLIP, NY – A 13-count indictment was unsealed today in the U.S. District Court for the Eastern District of New York charging George Anthony Devolder Santos, better known as “George Santos,” a United States Congressman (R) representing the Third District of New York, with seven counts of wire fraud, three counts of money laundering, […]
MALTA– GlobalFoundries Inc. (GF) announced it has completed the purchase of approximately 800 acres of additional land adjacent to its Malta, NY, manufacturing facility. With the purchase, which has been in process since early 2022, GF now owns the entirety of the approximately 1,110-acre park, formerly known as the Luther Forest Technology Campus. Malta is […]
Meta — the parent company of popular Internet services Facebook, Instagram and WhatsApp — has laid off an additional 343 employees in its NYC offices according to WARN notice filed last month with the NYS Department of Labor. The layoff date is effective July 21, 2023 and affects employees at three NYC offices: 770 Broadway […]
First Republic Bank of San Francisco was closed by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC is entering into a purchase and assumption agreement with JPMorgan Chase Bank to assume all of the deposits and substantially all of the […]
UNION, NJ — Going out of business sales have begun at all 360 Bed Bath & Beyond and 120 buybuy BABY store locations nationwide. The liquidation event is being managed by Hilco Merchant Resources, Gordon Brothers, Tiger Capital Group, and B. Riley Retail Solutions in connection with the commencement of Chapter 11 bankruptcy petitions and […]
NEW YORK — SL Green Realty Corp., together with an institutional investor advised by J.P. Morgan Global Alternatives, has completed the refinancing of 919 Third Avenue, a premier 1.5 million square foot Class A office building located in Midtown Manhattan. The new $500.0 million mortgage loan bears interest at a rate of 250 basis points […]
Ernst & Young LLP (EY US) has released the list of finalists for the Entrepreneur Of The Year 2023 New York Award. The New York program celebrates entrepreneurs from Connecticut and New York. Now in its 37th year, Entrepreneur Of The Year is one of the preeminent competitive business awards for transformative entrepreneurs and leaders […]
David’s Bridal, the nation’s leading retail chain for bridal dresses, filed for Chapter 11 bankruptcy for the second time on Monday. The company is laying off 475 workers in NY State at 14 stores according to WARN notices filed with the NY Department of Labor. The layoffs for store employees are expected to take effect […]