A hedge fund mogul who helped oust former Yahoo CEO Marissa Mayer is being sued by his own mother in an ugly dispute over unpaid debts, The Post has learned. Jason Ader — CEO of Spring Owl Asset Management — was sued last month by his 81-year-old mom after he defaulted on a $13 million … Read more
NAIROBI, Kenya — NAIROBI, Kenya (AP) — Facebook ’s parent company Meta on Friday lost its appeal in a Kenyan labor court that ruled the company could be sued in Kenya over the mass sacking of content moderators. The court had earlier ruled that Kenyan courts had jurisdiction over the matter, but Meta challenged the … Read more
The federal government is suing some big pharmacy benefit managers over a system of drug rebates that regulators say has made the price of insulin soar for diabetic patients. Three companies that process about 80% of prescriptions in the United States — Caremark, Express Scripts and OptumRx — have engaged in anticompetitive practices that spur … Read more
JetBlue announced Thursday it will open its first-ever airport lounges at its main hubs in New York and Boston as the carrier ratchets up luxury amenities to compete against its bigger rivals. Slated to debut late next year, the first will be an 8,000 square-foot lounge at John F. Kennedy International Airport, followed by an … Read more
The three largest US asset managers cut their support for so-called ESG proposals by shareholders during the last voting season amid Republican pushback against the controversial investing policy, according to a report. BlackRock, State Street and Vanguard — which collectively own about 20% of the shares of all companies in the S&P 500, giving them … Read more
The Port of New York and New Jersey is preparing for a complete work stoppage by unionized dockworkers on the East Coast and the Gulf Coast who handle nearly half of the nation’s shipping cargo — creating a possible supply chain crisis that roiled the economy after the COVID pandemic. The International Longshoremen’s Association union, … Read more
The Federal Trade Commission sued the country’s three largest pharmacy benefit managers on Friday, accusing them of steering diabetes patients towards higher priced insulin in order to reap millions of dollars in rebates from pharmaceutical companies. The case accuses UnitedHealth Group’s Optum unit, CVS Health’s CVS Caremark and Cigna’s Express Scripts of unfairly excluding lower cost insulin products … Read more
Three Mile Island — the infamous site of America’s worst nuclear disaster — is gearing up for a comeback, and Microsoft is first in line to tap into its energy. The tech giant signed a data center deal with Constellation Energy to help resurrect a unit of the nuclear plant in Pennsylvania in what would be the first-ever restart … Read more
Boar’s Head has tapped dozens of workers for a deep clean of the Virginia plant whose listeria outbreak has led to multiple customer deaths — but the company has no plans to reopen it, The Post has learned. The giant cold cuts distributor said last week it is closing the Jarratt, Va. facility “indefinitely” and … Read more
Huawei and Apple’s latest smartphones went on sale in China on Friday, with many fans of the Chinese company disappointed that its much-anticipated $2,800 model – more than twice the price of the iPhone 16 Pro Max – was not available for walk-in customers. At Huawei’s flagship shop in the southern Chinese city of Shenzhen, some who … Read more