Norfolk Southern announced an agreement Thursday with Ancora Holdings to keep the investor from launching a repeat of this year’s campaign to take control of the railroad. Under the deal, Norfolk Southern will add another independent director to its board and work to further improve its operations. Ancora, meanwhile, agreed to drop its nominations of … Read more
A federal judge said Kraft Heinz must face a proposed nationwide class action alleging that it defrauded consumers by claiming its Kraft macaroni and cheese, one of its best-known products, contains no artificial preservatives. In a decision on Wednesday, US District Judge Mary Rowland said the Illinois, California and New York consumers leading the lawsuit plausibly … Read more
The work-from-home phenomenon that spread like wildfire because of the pandemic appears to be flaming out in New York — and is on the retreat in many other metropolises around the country, according to the latest office building data. Office visitations in the Big Apple in October were at 86.2% compared to 2019 levels — … Read more
MADISON, Wis. — The Wisconsin Department of Natural Resources has issued the first round of permits allowing Enbridge to reroute an aging pipeline around a tribal reservation. DNR officials announced Thursday they have issued the first construction permits for the Line 5 reroute around the Bad River Band of Lake Superior Chippewa’s reservation. The energy … Read more
Warren Buffett’s Berkshire Hathaway said Thursday it made new investments in Domino’s Pizza and Pool Corp. in the third quarter, even as it retrenched from stocks such as Apple and Bank of America. Berkshire owned 1.28 million Domino shares worth about $549 million as of Sept. 30. It also owned 404,000 shares of Pool, a distributor of swimming pool supplies, … Read more
President-elect Donald Trump’s transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters. Ending the tax credit could have grave implications for an already stalling U.S. EV transition. And yet representatives of Tesla – by … Read more
Ongoing economic growth, a solid job market, and inflation that remains above the 2% target means the central bank does not need to rush to lower interest rates and can deliberate carefully, Federal Reserve Chair Jerome Powell said Thursday. In remarks that align with a developing expectation in financial markets for fewer rate cuts next year than previously forecast by Fed … Read more
The Federal Trade Commission is readying an investigation into Microsoft’s cloud-computing business as its full-throttle approach to antitrust continues in the final weeks of the Biden administration, according to a report. The agency led by Chair Lina Khan is looking into claims that the company is abusing its market clout by enforcing terms that prevent … Read more
The FBI’s raid on the founder of the online betting site Polymarket shows that the Lawfare Era under the Biden-Harris administration didn’t die after Donald Trump’s decisive victory on Election Day. Instead, the “deep state” picked a quarry that is less famous, less powerful, less wealthy, less tall, and less loud than the president-elect. And … Read more
The Four Seasons in Midtown Manhattan will finally reopen on Friday after a four-year, pandemic-induced hiatus — and it’s also poised to restore its claim as New York City’s priciest hotel, The Post has learned. The swanky tower at 57 E. 57th St. — whose billionaire owner Ty Warner had reportedly tangled over fees with … Read more