Money

Vacant office space in New York City is the highest in nearly three decades and will likely hit “unprecedented levels” in the coming months. As many companies continue to work from home, data from global real estate services firm Cushman & Wakefield shows that the office vacancy rate in Manhattan reached 16.3% in the first

Food waste is a major contributor to the climate crisis. That’s why one company, Too Good To Go, is hoping its mystery food bags can be part of the solution. Uneaten food usually ends up in landfills and produces methane, a powerful greenhouse gas that contributes to global warming. An estimated 30% to 40% of

Disney and Sony Pictures Entertainment agreed to a multi-year licensing deal Tuesday that will bring your friendly neighborhood Spider-Man to Disney’s platforms, including Disney+. But there is a catch: The agreement comes just weeks after Sony and Netflix signed a similar deal and Disney channels and platforms, including Disney+, Hulu and ABC, will have access

The City of New York has filed a lawsuit in state court against Exxon Mobil, Shell, BP, and the American Petroleum Institute for allegedly misleading New York consumers about the role their products play in climate change and for allegedly “greenwashing” their practices to make them seem more eco-friendly than they are. “Three of the

US stocks tumbled Thursday over investors’ worries about higher taxes. All three major indexes closed deep in the red. The Dow fell 0.9%, or 321 points. The broader S&P 500 and the Nasdaq Composite also fell 0.9%. It’s not surprising that Wall Street doesn’t like higher taxes, particularly when it comes to capital gains —

US stocks are tumbling Thursday over investors’ worries about higher taxes. With only minutes left in the trading session all three major indexes promise to close dep in the red. The Dow down 0.8%, or nearly 300 points. The S&P 500 and the Nasdaq Composite also fell 0.8%. It’s not surprising that Wall Street doesn’t

When first announced in 2017, Foxconn’s plan to build a massive electronics factory in Wisconsin was hailed by then-President Donald Trump as a sign of the rebirth of American manufacturing. But nearly four years later, the complex that promised to create a Silicon Valley in the industrial Midwest is essentially a white elephant, a collection

Net zero pledges have become all the rage in Corporate America. Big banks, steel companies and even (mostly European) oil companies are pledging to wipe out their carbon emissions over time. Cynics may see these environmental announcements as mere marketing ploys designed to win brownie points from climate-nervous consumers. But there may be another force

You’ve almost certainly heard the term blockchain. But you probably have no idea what it is or how it works, let alone why it generates so much hype. That’s OK. Most people don’t. That hasn’t kept it from becoming a buzzword thrown around in almost every industry, from finance to shipping to fantasy football. A-list

Dessert-loving New Yorkers know all about Levain, a bakery famous for its large, decadent cookies with gooey centers. Before the pandemic, passers-by could often see a line snaking out of the bakery’s tiny Upper West Side flagship store. Now, people across the country can bake the indulgent cookies at home. Last week, Whole Foods stores

Taco Bell is testing a new meat alternative taco ahead of an expected launch of new offerings featuring Beyond Meat. It’s called the Cravetarian Taco, a temporary menu item that includes a “boldly seasoned plant-based protein” made from peas and chickpeas. It’s loaded with cheddar cheese, lettuce, diced tomatoes, reduced-fat sour cream and served on

Four astronauts from three countries are preparing to leave Earth this week aboard a SpaceX Crew Dragon capsule, marking the third-ever crewed flight for Elon Musk’s company, and the first from SpaceX to make use of a previously flown rocket booster and spacecraft. Friday’s SpaceX launch will make use of the same rocket booster that

After years of skepticism, bitcoin is finally gaining mainstream credibility. Tesla is now accepting bitcoin as payment, and disclosed it had purchased $1.5 billion in the cryptocurrency as part of its cash holdings. Payment processors including PayPal, Mastercard and Visa are trying to streamline crypto payments on their networks. Meanwhile, Goldman Sachs will reportedly soon

Bitcoin and its many peers have surged to new levels of popularity over the past year, but they’re still a mystery to many investors. With new “coins” cropping up all the time, it’s hard to keep track of what’s worth paying attention to and what might not be here to stay. Meanwhile, major companies are

It took a while for Chipotle to roll out its quesadilla. But the cheesy item hit menus last month, and customers are into it. About 10% of all orders now include a quesadilla, CEO Brian Niccol said during an analyst call discussing first quarter earnings on Wednesday. We “expect it to remain a guest favorite

Claims for unemployment benefits went down more than expected last week. That’s good news. Economists are confident that the labor market recovery will gather speed as the economy reopens fully and more people get vaccinated. But jobless claims rose in two of the past four weeks, stressing that the road to recovery will be bumpy.

A young boy named Dawson leans back in a white rocking chair on a balcony: “I bought some rocks from Home Depot and we just painted them. Let me show you over here.” He points to his collection; there’s a blue rock with orange stars and another with a flower. A few seconds later, the

The red ink continued to flow at US airlines in the first quarter. But after a year of massive losses, airlines are showing signs that better times lie ahead. “While the pandemic is not over, we believe the worst is behind us, in terms of the severity of the negative impact on travel demand,” said

Bolstered by strong data, investors are expressing plenty of faith in the power of the global economic recovery. But what if this spring is as good as it gets? What’s happening: Goldman Sachs analysts predict that US economic growth will slow after the April-to-June period this year. Meanwhile, Covid-19 infections are rising dramatically in crucial