NYC Business News

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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.

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DoorDash Reaches $131.5M Settlement With NYC

DoorDash has reached a $131.5 million settlement with New York City following an investigation into payments to the company's delivery workers. More than $115 million will be distributed to over 260,000 workers who experienced underpayments, late payments or other minimum-pay violations, while more than $16 million will go toward civil penalties and costs. The agreement also establishes a three-year monitoring system requiring DoorDash to provide detailed monthly data to the city's Department of Consumer and Worker Protection. Workers will also be able to share trip and earnings information directly with the city through new technology being developed with outside partners. Eligible workers are expected to begin receiving settlement payments this fall.

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NY AG Secures Terms in Paramount-Warner Bros. Deal

New York Attorney General Letitia James and attorneys general from 11 other states have reached an antitrust settlement with Paramount Skydance and Warner Bros. Discovery that establishes conditions for their major media combination. Under the agreement, Paramount must maintain minimum annual film-release levels and increase domestic film-production spending by $1.5 billion over five years. The companies must also negotiate fees for their respective cable channels separately, while an independent editorial board will oversee CNN and CBS. The settlement includes financial penalties if Paramount misses certain film-production requirements and provisions involving unionized entertainment workers. The agreement resolves lawsuits brought by the states and the Writers Guild of America and clears a major legal obstacle to Paramount's acquisition of Warner Bros. Discovery.

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Hyundai AI Art Exhibition Opens at NYC’s New Museum

Hyundai Motor Company is launching a new contemporary art exhibition at New York City’s New Museum featuring newly commissioned work from Singapore-based artist Ho Tzu Nyen. Opening September 24 on the Bowery, the exhibition includes P for Power: Up Down, an installation that uses artificial intelligence to generate changing image sequences on screens inside the museum’s glass-front elevators. The exhibition launches a three-year collaboration between the New Museum and South Korea’s Ulsan Art Museum through the Hyundai Translocal Series. The two institutions will develop three annual exhibitions through 2028, combining site-specific commissions with explorations of art, technology and cultural identity. Ho’s New York exhibition runs through January 24, 2027.

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Chime Opens 84,000-Square-Foot NYC Office in Flatiron

Financial technology company Chime has expanded its New York City operations with an 84,000-square-foot workplace at 122 Fifth Avenue in Manhattan’s Flatiron District. The three-floor location will serve as the company’s East Coast hub, housing employees working across technology, product development, marketing, partnerships and other business functions. The expansion builds on Chime’s New York presence, which began in 2023 and grew following its acquisition of local company Salt Labs. Chime identifies New York as its largest metropolitan market and expects the new location to support recruiting and continued growth in the region. The opening also comes as the company pursues a proposed acquisition of longtime banking partner Stride Bank, subject to regulatory approval.

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SPAM Hot Honey Hits Win Son Bakery in NYC This Week

SPAM is introducing its new Hot Honey variety to New York City through a limited-time collaboration with Win Son Bakery, bringing the sweet-and-spicy flavor to both Brooklyn and Manhattan. Running through September 20, the promotion gives New Yorkers a chance to try the product in dishes created specifically for the partnership, including a breakfast sandwich built on Win Son’s scallion pancake and a Taiwanese-inspired rice roll. The collaboration extends beyond food with a small collection of co-branded apparel and accessories available online and at the bakery’s locations. For Brooklyn diners, the campaign pairs a nationally recognized food brand with a local restaurant known for putting a contemporary spin on Taiwanese-American flavors.