Business

The darkish aspect of Ty Warner, the reclusive billionaire behind Beanie Infants

The secretive billionaire genius behind Beanie Babies has a business reputation as anything but a teddy bear. People who know Ty Warner, the brand’s founder, said he’s a stubborn eccentric who wants things done his way — or else. Now, he toying with..

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NY Knicks co-owner stands to reap payday from Twitter-Musk deal

Elon Musk’s surprise offer to buy Twitter for his original price of $44 billion followed shrewd maneuvers by a board member who — in addition to a big stake in Twitter — also happens to own a chunk of the New York Knicks and Rangers, sources tell The..

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Chip shares slide as Samsung, AMD count on huge drop in demand

Dire forecasts from Samsung Electronics and Advanced Micro Devices sent chip-related shares lower on Friday, sparking fears that a slump in demand for semiconductors could be much worse than expected. AMD, Nvidia, Intel, Qualcomm and Micron Technolo..

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DOJ antitrust cop hammers ‘whack-a-mole’ strategy to reining in Large Tech

The Justice Department’s top antitrust cop said he wants to “unplug” monopolistic Big Tech firms and drove home his support for a stalled congressional bill intended to rein in Google, Amazon, Meta and Apple during a fiery speech on Friday. Jonatha..

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FedEx CEO’s warning of worldwide recession tanks shares, shakes market

FedEx CEO Raj Subramaniam’s ominous warning of a worldwide recession drove the shipping company’s shares to their worst day in decades Friday and sent Wall Street’s main indexes to near two-month lows. FedEx’s stock plunged more than 21% after the c..

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CNBC’s Joe Kernen challenges Buttigieg on inflation: ‘Wouldn’t it’s higher to simply be sincere?’

CNBC anchor Joe Kernen took Transportation Secretary Pete Buttigieg to task on Friday for the Biden administration holding a celebration on the same day that a worse-than-expected August inflation report caused stocks to tank. President Biden held a..

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Thumbs down on ‘woke’: ‘Disney debacle’ lesson for CEOs

Of course the ink is barely dry on the Supreme Court’s draft decision to overturn Roe v. Wade, and a draft is not quite a ruling, but it’s been refreshing to finally be hearing nothing from business leaders on this contentious cultural issue. Maybe ..

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Starbucks slams Biden for assembly with union-organizing barista

Starbucks is demanding equal time with President Biden after the White House invited a unionizing barista to meet top administration officials — including the commander-in-chief. Laura Garza, an employee who is among those leading the unionization ..

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Will NYC’s Western Beef groceries quickly give technique to luxurious condos?

Family beef is sizzling over the future of the iconic New York grocery store chain Western Beef. The affordable supermarket brand with a sentient cactus mascot (his name is Charlie) and meat as cheap as its looks could soon become tartare (e.g., lux..

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Google traders warn Saudi Arabia information mission could possibly be utilized by ‘top hitmen’

Google investors are poised to raise hackles over a controversial Saudi Arabia project at the search giant’s shareholder meeting, warning that the company risks serving up “sensitive data on a silver platter to Saudi’s top hitmen.” The investors’ c..

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Metropolis Council eyes massive tax reduce to assist motels, tourism rebound from pandemic

The New York City Council is so concerned about the sluggish recovery of the Big Apple’s $100 billion tourism market from COVID-19 that it’s considering dramatically slashing the local hotel tax to spur a faster rebound, The Post has learned. The Ho..

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With intrepid Twitter bid, Elon Musk is in battle with naysayers

The list of suitors who have looked at buying Twitter — and then passed without a second thought — are too many to be counted on one hand, and possibly two or three. That’s partly because for all of its relevance to breaking news, starting revoluti..

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