Daily business news in the Great State of New York!
NEW YORK — Colgate-Palmolive has announced the winners of the Colgate Connect Challenge, its first-ever global pitch competition aimed at startups from around the world focused on developing world-changing products to promote healthy futures. The challenge sought to connect Colgate with external startups offering innovative solutions in three areas: quantified health and analytics; smart and […]
NEW YORK — Touro College and University System, one of the nation’s leading non-profit Jewish higher education institutions, wants to build a new 243,305 square-foot campus at 3 Times Square. [Photo Above: Rendering of 3 Times Square and Touro campus.] The Midtown skyscraper for 3 Times Square is located on Seventh Avenue between 42nd and 43rd […]
NEW YORK — Rokt, a leading ecommerce technology using AI and machine learning, announced that it has closed a $325 million Series E funding round led by Tiger Global, bringing the company’s valuation to $1.95 billion. The company plans to use the new funding to invest in R&D, international expansion and strategic acquisitions. Other participants in the […]
The Times-Union, a newspaper covering the Capital District and Hudson Valley, announced it has surpassed 30,000 paying subscribers for digital access to its website. The newspaper is owned by the Hearst Corporation which also owns several Connecticut newspapers as well as the San Francisco Chronicle and San Antonio Express-News. The Times-Union attributes its recent growth […]
NEW YORK — The New York Times Company is purchasing The Athletic, a global sports website, for an all cash purchase price of $550 million. The deal is expected to close in the first quarter of 2022. The Athletic has more than 450 full-time writers, editors and producers break exclusives, cover the biggest moments, and […]
NY Governor Kathy Hochul and the Metropolitan Transportation Authority announced that the Second Avenue Subway expansion project that would extend the Second Avenue line to 125th St in East Harlem has moved to the Engineering phase of the project timeline. The Infrastructure Investment and Jobs Act signed by President Biden in November provided $23 billion […]
NEW YORK — Veho, a technology company that enables personalized next-day package delivery, has announced a $125 million Series A raise led by General Catalyst at a $1 billion valuation. Additional investors include Construct Capital, Bling Capital, Industry Ventures, Fontinalis Partners, and Origin Ventures. The funding will be used to hire more employees, expand from 14 to […]
Get ready to place your sports bets in NY — online!!! The NYS Gaming Commission announced that four licensed Mobile Sports Wagering Operators – Caesars Sportsbook, DraftKings, FanDuel, and Rush Street Interactive – have satisfied all statutory and regulatory requirements necessary to accept and process mobile sports wagering activity and have been approved to commence […]
Jones Day, one of the nation’s largest law firms with over 2,500 lawyers, announced that 48 lawyers will be admitted to partnership in the Firm as of January 1, 2022. Being a partner means a big increase in pay. Average compensation for law partners nationwide was $1,054,000 in 2020 according to a survey by legal […]
Macy’s, the nation’s largest department store chain, announced the closing of six new Macy’s department stores and one Bloomingdale’s Outlet Store. At the end of the third quarter 2021, Macy’s said it had 794 stores, including Macy’s, Bloomingdale’s and Bluemercury. Below is the list of stores that the company will close this year. Macy’s Store […]
The New York law firm Cadwalader, Wickersham and Taft announced that 9 attorneys have been elected to the firm’s partnership, effective January 1, 2022. In addition, the firm promoted 23 attorneys to special counsel and counsel, creating the largest partner, special counsel and counsel promotion class in 15 years. Cadwalader is one of the top […]
New York accounting firm Berdon LLP has named seven new partners effective January 1, 2022. Berdon has over 400 professionals and staff with offices in Manhattan and Long Island. “We are particularly pleased with the diverse group of new partners who, in their own unique ways, have demonstrated the technical excellence and innovative thinking that […]
EAST BRUNSWICK, NJ — DiRx, an online pharmacy that delivers significant savings on commonly prescribed, FDA-approved generic medicines without the need for insurance, has raised a total of $10 million in Series A funding. This funding will help power the expansion and national market reach of DiRX’s innovative pharmacy model to more Americans. Similar to […]
NEW YORK — Sullivan & Cromwell LLP, one of New York’s largest law firms, announced that Robert Giuffra, Jr. and Scott Miller have become Co-Chairs of the firm, effective January 1, 2022. [Photo above: New co-chairs Robert Giuffra (left) and Scott Miller] Giuffra and Miller have served as Vice Chairs of the firm since January […]
NEW YORK — Pryor Cashman, a law firm with headquarters at 7 Times Square, has elected six lawyers to become partners and elevated 11 lawyers to counsel. All promotions were effective as of January 1, 2022. Pryor Cashman Managing Partner Ronald H. Shechtman said, “This year has been an enormously successful one for Pryor Cashman. […]