NYC Business News

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NYC Dashboard Reveals Delays in Vendor Payments

New York City contractors and nonprofit organizations now have a new way to examine how long they wait to receive their first payments from the City. Comptroller Mark Levine has expanded the Late Contract Dashboard to provide payment information alongside existing contract registration data, offering a more complete picture of delays affecting service providers. The update comes as thousands of contractors have faced lengthy waits for compensation, potentially disrupting payroll, operations and essential community services. By making payment timelines publicly accessible, the Comptroller's Office aims to increase accountability across City agencies and help vendors better understand the financial challenges associated with government contracting.

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Norton Rose Fulbright Adds Eric Aronson in NYC

Norton Rose Fulbright is expanding its New York litigation practice with the addition of Eric Aronson, a veteran attorney whose work includes complex business disputes and cases involving financial institutions. Aronson previously led financial services litigation at Crowell & Moring and brings experience representing companies across banking, private equity, technology and real estate. His arrival reflects continued hiring activity at the international law firm, which has added seven lateral partners and 32 lawyers to its New York office during 2026. The appointment also strengthens the firm's capacity to handle major commercial disputes as businesses face growing financial exposure from litigation and regulatory challenges.

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NYC Selects Firms to Underwrite Municipal Bonds

New York City has chosen a new group of investment banks and financial firms to help manage future municipal bond offerings, which provide financing for government operations, infrastructure and other public investments. The appointments cover the city's general obligation bonds, Transitional Finance Authority securities and Municipal Water Finance Authority debt. Major Wall Street institutions will share underwriting responsibilities with smaller financial firms, including minority-, women- and service-disabled veteran-owned businesses. The city will rotate lead assignments across transactions and evaluate firms based on their performance and financing recommendations. The selection process also creates opportunities for emerging underwriters to gain experience handling larger public bond offerings.

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SUSHIRO to Open Times Square NYC Restaurant

Japanese restaurant operator FOOD & LIFE COMPANIES plans to open SUSHIRO Times Square on November 19, 2026, bringing its conveyor-belt sushi dining concept to Midtown Manhattan. Located at 667 Eighth Avenue, the new restaurant will span three levels, with 146 seats across its first and second floors and three private dining rooms on the basement level. The menu will feature more than 200 items, including sushi, side dishes, desserts and beverages. The company says the location will emphasize Japanese dining traditions, entertainment and affordable options as it introduces its restaurant experience to New York City customers.

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Paul, Weiss Adds Caroline Hickey Zalka in NYC

Paul, Weiss, Rifkind, Wharton & Garrison LLP has added Caroline Hickey Zalka as a partner in its New York Litigation Department, expanding the firm's securities litigation and corporate advisory capabilities. Zalka represents public companies, boards, executives and private equity firms in shareholder class actions, merger disputes and complex commercial litigation. Her experience also includes corporate governance, regulatory matters and investment management disputes. Recognized by Forbes, Chambers USA and other legal publications, Zalka was named North America Securities Lawyer of the Year by Euromoney in 2026. Her appointment strengthens Paul, Weiss's ability to represent corporate clients facing significant legal and regulatory challenges.

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NY AG Secures $2.35M in Carelon Settlements

New York Attorney General Letitia James announced two settlements with Carelon Behavioral Health following investigations into inaccurate mental health provider directories and improper denials of addiction treatment coverage. Carelon will pay $2.35 million in penalties, fees and costs, while providing up to $8 million in restitution to eligible members who paid for out-of-network mental health services. Additional reimbursements will address certain denied substance use treatments. Investigators found widespread provider directory inaccuracies, including unavailable psychiatrists, and identified instances of coverage decisions using unapproved standards. The settlements also require improved appointment access, updated provider listings and independent oversight of Carelon's compliance.

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NYC Expands SNAP Grocery Savings to 12 More Stores

New York City plans to bring its Get the Good Stuff grocery savings program to 12 additional supermarkets, expanding access to affordable produce for residents receiving SNAP benefits. Participants earn a dollar in future purchasing credit for every SNAP dollar spent on eligible fruits, vegetables and beans, up to $10 daily. The program currently operates at 21 grocery stores citywide. Mayor Zohran Mamdani's administration has committed $3.1 million in annual city funding, alongside a $5.7 million federal grant supporting expansion. Local grocery stores can apply to participate through November 20, 2026, as the city works to increase access to nutritious food.

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Steptoe LLP Opens New 58,000-Square-Foot NYC Office

International law firm Steptoe LLP has relocated its New York operations to a 58,000-square-foot office at 1133 Avenue of the Americas in Midtown Manhattan. Occupying the building's three highest floors, the new workplace provides additional meeting, collaboration and event facilities following substantial growth in the firm's local legal team. Steptoe has added nearly 36 attorneys over the past two years, expanding its capabilities in financial regulation, litigation, international trade and other practice areas. The move places the firm one block from its previous office near Bryant Park. The 45-story property holds LEED Gold certification and contains approximately 1.1 million square feet.

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NYC-Based Bilt Expands Into Sports With $300M Deal

Bilt is entering the professional sports loyalty market through its $300 million acquisition of LAVA, a technology company serving 56 franchises across major American sports leagues. The transaction connects Bilt's residential rewards network, which includes more than seven million members and 50,000 merchant partners, with technology used to manage fan engagement, memberships and personalized offers. LAVA's platform integrates with ticketing, payment and customer management systems, allowing sports organizations to provide benefits beyond stadium experiences. Bilt plans to incorporate these capabilities into its neighborhood commerce platform, potentially connecting team loyalty programs with restaurants, retailers and other businesses in surrounding communities.