The competition to land a casino in New York City intensified today as New York Mets owner Steve Cohen proposed an $8 billion complex around the team's Citi Field in Queens.
Why it matters: The billionaire hedge fund boss is hoping to grab one of three coveted casino licenses up for grabs in New York, Nathan writes.
Details: Cohen unveiled plans for a sprawling venue called Metropolitan Park that would include a Hard Rock casino, restaurants, hotel, athletic fields, music venue, 20 acres of public space and a transit station, according to severalreports.
The pitch "faces significant obstacles," including the fact that the state Legislature would have to allow the land to be annexed, Bloomberg reported.
State of play: Other possible areas for a casino in NYC include Times Square and the Hudson Yards area, but those locations face opposition, too.
A slew of companies that were wobbling when 2023 started have crashed into bankruptcy in recent weeks.
Why it matters: The pileup illustrates the real-world consequences of the end of the free-money era, when lower interest rates made financing a cinch, providing Band-Aids for problems and extending the lives of otherwise flawed operations.
What's happening: U.S. News & World Report named Harrisburg, Pennsylvania, the No. 1 place to retire for 2024. Daytona Beach was the only Florida city to hang on to a top-10 spot.
Walmart stores nationwide will lower the lights, turn off the radio and change their TV walls to a static image for daily "sensory-friendly hours," the retailer announced Tuesday.
Why it matters: Walmart's hours, which start Friday, appear to be the biggest shopping program yet for people with sensory processing issues, which include autism, ADHD and PTSD.
Black Friday and Cyber Monday sales aren't just about shopping for holiday gifts — 64% of consumers plan to treat themselves, according to a new Shopify-Gallup survey.
Why it matters: The all-important holiday shopping season can be make-or-break for retailers and consumers are feeling pressure from inflation.
What happened: The co-working space operator failed to make required interest payments to bondholders last month, but then negotiated a pair of extensions that pushed the deadline to today.
The new Bed Bath & Beyond, formerly Overstock, said Monday that CEO Jonathan Johnson was immediately stepping down and the online retailer would search for a permanent replacement.
Driving the news: The news of Johnson's exit came days after activist hedge fund JAT Capital, which has a 9.6% stake in the company, called for his removal in a letter to the board and said his performance was poor.
Netflix binge-watchers will soon be rewarded for their habits.
Starting in Q1 next year, the platform's ad-tier viewers who watch three consecutive episodes in a row — within one sitting — will be served a fourth, ad-free, Hope writes.
💭 Our thought bubble: At a time when there's a lot of debate over the right release schedule for video content (binge vs. weekly), this type of encouragement and what some see as gamification, plays into Netflix's preferred "publish all at once" strategy.
Responses on X to the announcement last week range from some people wanting more platforms to adopt this feature to dismay about pushing people toward more screen time.
— Fenway Sports Group chair Tom Werner acknowledging talks with the PGA Tour on CNBC, as speculation mounts that the owner of the Boston Red Sox could make an offer to rival the existing framework deal with Saudi-backed LIV Golf.
Shoes that cost the same as an iPhone — and with just about as much technology — are helping runners shatter records and triggering a feverish race among shoe companies.
Why it matters: Elite athletes are always looking for an edge — and their equipment decisions influence countless amateur athletes, which is where apparel companies make their money.
The number of companies setting net zero emissions targets has risen over 40% to 1,003 since June 2022, but 4% of the targets meet United Nations criteria for reaching the goal.
The big picture: That's according to the latest analysis from Net Zero Tracker, which examines net zero targets in the Forbes Global 2000 list of the world's largest companies, and found the 16-month jump to October brought an aggregate annual revenue which covered such targets, some $27 trillion.
