Talks to sell stake collapse; owners put more money into team

Latest Business News

• Weekly jobless jobless claims fall, but labor market remains weak

  WASHINGTON -- The number of Americans seeking new jobless benefits fell last week but remained at a level associated with slow hiring trends,...   9:50 AM
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  One dead ringer: DOJ’s deal killer could cost AT&T; $5B-plus

  AT&T Chief Executive Randall Stephenson is on the hook. The telecom chief is facing a long list of concessions and an even longer legal battle after the government sued to block AT&T’s proposed $39 billion takeover of T-Mobile. The Justice...   3:40 AM
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  Meet the new boss

  The new establishment is really new. Many of the wealthy, influential and powerful people on Vanity Fair’s 2011 “New Establishment” list are West Coast wunderkinder more likely to sport hoodies and backpacks than suits and ties. For a second...   7:39 AM
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  Facebook rocks on

  It’s getting easier for Facebook to play requests. Facebook CEO Mark Zuckerberg is about to rock his social network with a number of new streaming digital music features, The Post has learned. Facebook plans to unveil the music initiatives at its...   10:56 AM

• Honey, I stole the hard drive

  All is fair in love and war -- unless you’re divorcing a hedge fund manager. David Simon, a New York hedge fund manager and frequent CNBC commentator...   9:49 AM

• Kelly resigns abruptly as BoNY boss

  Bob Kelly’s four-year stint atop Bank of New York Mellon has come to an abrupt end. Yesterday, Kelly resigned amid what the New York-based trustee...   12:21 AM

• Depositions rain on BofA

  New York Attorney General Eric Schneiderman’s office has taken testimony from 53 witnesses in its investigation into Bank of America’s 2008 acquisition...   12:24 AM

• R-word worries take a holiday

  Factory activity in the Midwest slowed a little in August and private employers continued to hire despite extreme financial market turmoil, easing...   3:40 AM

• In rents, Fifth takes 1st

  Fifth Avenue has retained its position as the world’s most expensive shopping street, while retail rents are rising on the ritziest streets around the...   12:29 AM

• Chicago blows into TriBeCa

  A Chicago investment firm closed on one of the city’s biggest residential deals this year -- a roughly $220 million transaction to purchase the luxury...   12:30 AM

• Big retail block to Times Square

  Retail-leasing king Jeff Sutton has cut a deal with neighboring Times Square owner Jeff Gural to combine portions of the office building at 1560...   3:40 AM

• Galleon sentencing

  Craig Drimal, a former trader at the Galleon Group hedge fund, was sentenced yesterday to five-and-a-half years in prison, a term the judge said should...   3:40 AM

• Business briefs

  Sino options Sino-Forest CEO Allen Chan and CFO David Horsley received stock options that were backdated or mispriced in violation of Toronto Stock...   1:51 AM
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  All played out

  Toys “R” Us has been playing whack-a-mole with its pop-up stores. The giant toy chain -- which last year had opened a whopping 600 temporary locations to maximize its Christmas business -- plans this fall to slash that number by more than half,...  
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  Fed-up governors fighting Ben on policy

  Ben Bernanke is finding stiff resistance from his fellow governors on what the next steps will be to spur on the flagging US economy, according to the last Fed Open Market Committee meeting’s minutes, released yesterday. The Fed chief could not...  

• AOL, bankers huddle

  Faced with a falling stock price and speculation that the company is a takeover target, AOL has huddled with bankers in recent days to discuss options,...  

• Barnes & Noble opens its books on the Nook

  Barnes & Noble opened its books again yesterday, giving investors financial guidance -- and raised a few eyebrows in the process. The New York-based...  

• Warren goes to bid war

  Billionaire investor Warren Buffett -- who says he likes bargains, not bidding wars -- had better gear up for battle. Allied World Assurance is...  

• Some U.S. firms paid more to CEOs than taxes: study

  Twenty-five of the 100 highest paid U.S. CEOs earned more last year than their companies paid in federal income tax, a pay study said on Wednesday. It...  

• Groupon under pressure

  Groupon can’t win. The daily deals upstart, run by founder Andrew Mason, lost two major rivals in the past week. Yelp said yesterday it was scaling...  

• ‘Cook’-ing up film $$

  Dick Cook, ex-chairman of Walt Disney Studios, is seeking to raise $625 million in equity financing to make and distribute family oriented films,...  

• Bats on deck for US stock listings

  Bats Global Markets won permission to start listing corporations on its US stock exchange, putting the six-year-old company in competition with NYSE...  

• Problems piling on at BofA

  The hits just keep coming for Bank of America. Unfortunately, it’s not in the music business. The beleaguered financial institution was hit by a fresh...