NYC Business News

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NY Pension Funds Push Starbucks on Labor Oversight

New York City and state pension investors are seeking changes to Starbucks' board oversight of labor relations ahead of the company's 2027 annual shareholder meeting. New York State Comptroller Thomas DiNapoli, NYC Comptroller Mark Levine on behalf of four city pension funds, and a Trillium Asset Management fund filed a shareholder proposal asking Starbucks to restore its Environmental, Partner, and Community Impact Committee. The committee, established in 2023 and later dissolved, had responsibilities that included monitoring labor relations. The investors argue that dedicated independent oversight is needed as Starbucks continues to face unresolved collective bargaining and labor disputes. The filers collectively held 2.82 million Starbucks shares as of June 30, 2026.

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Bowery Presents Announces Major Leadership Change

The Bowery Presents is undergoing a major leadership transition as longtime co-presidents Jim Glancy and John Moore step aside from the New York-based concert promotion company. Four longtime executives—Josh Bhatti, Charley Magrew, Andrew Martin and Josh Moore—have been elevated to senior vice president and will collectively assume leadership responsibilities. Magrew will oversee marketing, ticketing, sponsorship and venue initiatives from New York, while Moore will lead talent operations from the city. Martin will oversee business and legal affairs from Nashville, and Bhatti will lead the company's New England operations. The Bowery Presents, which became part of AEG Presents in 2016, has played a major role in New York's live music industry and produces concerts at several prominent NYC venues.

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Brooklyn Nets Name Alibaba Official Technology Partner

The Brooklyn Nets are partnering with Alibaba Group in a multi-year agreement that will bring new technology to Barclays Center while placing the company's brand on the team's jerseys. Alibaba will serve as an official technology and cloud partner of the Nets and become the team's official jersey patch partner during its 60th anniversary season. Beginning with the 2026–27 NBA season, Alibaba technology will power a Real-Time 360° Replay system designed to give fans more immersive views of game action. The partnership will also introduce an in-arena Nets Figure Lab where fans can create personalized collectible cards. The Nets and Alibaba plan to test additional technology and marketing applications throughout the season.

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Akin Adds Goldman Sachs Tech Lawyer in New York

Akin has strengthened its New York corporate practice with the return of technology transactions lawyer Neil DuChez as a partner. DuChez most recently spent more than nine years at Goldman Sachs, where he served as Vice President and Senior Legal Director and advised on technology, data, artificial intelligence, intellectual property and commercial agreements. At Akin, his practice will include technology-enabled transactions, strategic partnerships, software and cloud agreements, AI and data analytics, payment technologies and technology issues connected to acquisitions and divestitures. The firm said the appointment expands its U.S.-based technology transactions capabilities as technology and data become increasingly important components of major corporate deals. DuChez previously worked at Akin as an intellectual property associate.

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NYC Opens New Job Center for City Careers and Hiring

New Yorkers looking for City government jobs will soon have a permanent location where they can get help navigating applications, civil service exams and the hiring process. The new Jobs NYC Center at 2 Lafayette Street in Manhattan will offer walk-in career assistance, hiring events, workshops and direct connections with City agencies seeking employees. Developed by the Department of Small Business Services and Department of Citywide Administrative Services, the center will also provide career-development resources for existing municipal employees. The location has already hosted hiring activity during a soft launch, including an August hiring hall that resulted in 17 new hires for the NYC Business Express Service Team. Regular walk-in hours at the center begin October 5.

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NYC Offers $5M to Shift Truck Deliveries Off-Peak

New York City is offering $5 million in incentives to encourage businesses to move truck deliveries away from congested daytime hours. NYC DOT's Off-Hour Deliveries program provides financial support for businesses that shift deliveries to between 7 p.m. and 6 a.m., with more than $500,000 going to as many as 14 businesses in the first phase. Funding can be used for equipment and improvements that make overnight deliveries possible, including quieter cargo-handling equipment, security systems and building modifications. The city says approximately 90% of goods are transported through New York City by truck. NYC DOT ultimately aims to expand off-hour deliveries to 5,000 locations and move an estimated 62,000 trucks away from peak hours by 2040.

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Bronx Green Jobs Center Gets $2.5M in New Funding

Fordham University's Bronx Green Jobs Center has secured $2.5 million in new capital funding as construction moves toward completion at 585 East Fordham Road. Con Edison is providing $1.5 million to support a classroom and event space capable of accommodating up to 200 people, while Bronx Borough President Vanessa Gibson's office is providing another $1 million for renovations throughout the facility. The 12,000-square-foot center is being developed as a workforce and entrepreneurship hub focused on New York's growing green economy. Initial training programs are expected to include solar installation and repair, electric vehicle charging infrastructure, urban agriculture, energy-efficient buildings and environmental justice. Construction is expected to finish in early 2027, with programming beginning afterward.

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NYC Pension Funds Eye $5B in Climate Investments

New York City Comptroller Mark Levine is proposing a major expansion of private-market climate investments involving three of the city's public pension funds. Under the plan, the Comptroller's Bureau of Asset Management expects to present $5 billion in potential investments to the boards overseeing NYCERS, the Teachers' Retirement System and the Board of Education Retirement System. Opportunities would include renewable power, energy storage, grid modernization, clean transportation, energy efficiency and building upgrades. Individual investments would still require review and approval by the pension boards. The proposal is part of a broader strategy under which the three retirement systems have established a goal of investing $37.8 billion in climate-related solutions by 2035.

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Paul, Weiss Adds Private Equity Team in New York

Paul, Weiss is expanding its New York private equity practice with the addition of partner Christopher Machera and five other transactional lawyers. Machera has joined the firm's Private Equity M&A Group in New York, while Timothy Burns, Noah Beck, Amanda Rotkel, Andrew Lawson and Dylan Hans are expected to join in the coming weeks across private equity M&A, tax and executive compensation. The incoming team has worked on hundreds of transactions involving major investment firms including Blackstone, Brookfield, Goldman Sachs Asset Management, TPG and Warburg Pincus. The expansion adds to Paul, Weiss's private equity and mergers and acquisitions capabilities as the New York-based firm continues building its transactional practice.