Billionaire tech mogul Marc Benioff is reportedly in talks to sell Time magazine to a Greek media conglomerate. Benioff, who co-founded enterprise software giant Salesforce and who boasts a net worth valued by Bloomberg Billionaires Index at $10.7 billion as of Friday, has engaged Antenna Group about a deal for Time, according to CNBC. Sources … Read more
New York City nightclub Nebula, known for hosting some of the biggest DJs in EDM music, has been sold, The Post has learned. Dream Hospitality Group founder and CEO George Karavias and entrepreneur Michael Vaknin have teamed up to acquire a majority ownership in the Times Square hotspot. The deal, whose terms weren’t disclosed, expands Karavias’ hospitality … Read more
WASHINGTON — WASHINGTON (AP) — Kamala Harris ‘ campaign is actively warning business leaders that Donald Trump has a pattern of disregard for democracy and the rule of law that would threaten U.S. economic growth — a closing argument designed to show the possible consequences for companies and workers if he returns to the White … Read more
The Dow jumped more than 500 points on Friday, recovering some losses from the previous session, as Amazon’s strong earnings countered Apple’s weaker China sales and investors assessed a significant drop in US jobs growth in October. In recent trading, the Dow Jones Industrial Average was up 496 points, or 1.2%, to 42,259. The S&P 500 added 0.9%, … Read more
Wendy’s plans to close 140 U.S. restaurants before the end of this year on top of the 100 it said it would close in May. But in a conference call with investors Thursday, the company said those closures will be offset by new restaurant openings. Wendy’s said it plans to open between 250 and 300 … Read more
Boeing reportedly dismantled its global diversity, equity and inclusion (DEI) department as part of an overhaul of its operations ordered by the company’s new top executive — becoming the latest major company to ditch the controversial initiative. The aerospace giant — which was slammed by tech mogul Elon Musk for prioritizing DEI over safety and … Read more
Apple committed about $1.5 billion to satellite communications company Globalstar to fund the expansion of iPhone services, the companies disclosed in a securities filing on Friday. The tech giant’s deal with Globalstar includes $1.1 billion in cash, of which $232 million will go toward the satellite company’s current debt, and a 20% equity stake. The … Read more
Ferragudo, Portugal. Gonzalo Azumendi | Stone | Getty Images A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. A growing number of wealthy Americans are making plans to leave the country in … Read more
NBC “Nightly News” anchor Lester Holt could retire next year — and his would-be successor, Tom Llamas, “waits impatiently” for his exit in what looks like a “slow motion coup d’état” at 30 Rock, according to a report. Holt, who is reportedly earning a hefty wage of around $10 million per year, has been anchoring … Read more
The government’s new Value for Money chief has headed up several big projects that went massively over-budget. David Goldstone has previously worked as a top executive on the London Olympics, Parliament’s restoration and HS2 high speed rail. He will now head up the government’s new Office for Value for Money (OfVM), advising Chancellor Rachel Reeves … Read more