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Jamie Dimon warns NYC Mayor Mamdani city must compete or lose talent

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Jamie Dimon warns NYC Mayor Mamdani city must compete or lose talent

JPMorgan Chase Chairman and CEO Jamie Dimon put New York City’s new progressive mayor, Zohran Mamdani, on notice, telling the self-described ideologue that city governance is about lower crime and economic survival, not empty “morality” slogans.

Following a high-stakes face-to-face meeting, the Wall Street titan openly criticized far-left tax talking points like “fair share” and warned that treating wealth creators as political punching bags is actively destroying the city’s talent pool.

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“Every city has to compete. And they have to compete at every level – arts, science, schools, that is what it is. I’m not inventing that, he can be an ideologue, he has to compete, too,” Dimon said Thursday in a Bloomberg TV interview.

“And we’ll see: will he learn that he’s got to make this city a place where people want to grow and build and live and have families and work?” he continued. “And he’s gotta compete with Shanghai and Hong Kong and Singapore and Nashville, and people vote with their feet. So it isn’t this morality thing that people talk about. It’s like, are you building a great city with lower crime and stuff like that?”

MAMDANI’S WALL STREET COURTSHIP SPARKS CRITICISM OF ANTI-BILLIONAIRE AGENDA

On Monday, Dimon and Mamdani met in person at the bank’s new headquarters in Manhattan, as the democratic socialist mayor intensifies outreach to Wall Street leaders following backlash over proposals to raise taxes on wealthy New Yorkers.

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Zohran Mamdani and Jamie Dimon

After meeting in-person on Monday, JPMorgan Chase CEO Jamie Dimon shared some words of wisdom for New York City Mayor Zohran Mamdani. (Getty Images)

The meeting was “constructive and the tone was friendly,” a JPMorgan spokesperson told Reuters. According to City Hall, the pair discussed reducing government waste, cutting red tape tied to development projects and expanding public-private partnerships. JPMorgan said the conversation also focused on New York City’s competitiveness.

“I don’t care what he says. What does he do? I will judge that,” Dimon said. “And so what actually happens, because you can talk about morality and ideology all you want, but if things don’t get better, you didn’t do a good job… And so, hopefully, he’ll learn. I want him to do a good job. I’m not against him.”

The CEO also expanded on Mamdani’s controversial wealth tax proposals: “I don’t think… people making under a certain amount [should] pay taxes at all. I would agree with that, but when they say, ‘fair share,’ what do they mean? They should give a number.”

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Dimon added that New York City’s existing tax landscape “already” makes the Big Apple uncompetitive, with just 26,000 JPMorgan employees based there today versus 33,000 in Texas.

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“The Dallas mayor calls up all the time saying, ‘What can I do to help you? I have land over here,’ you know, and that is pro-business and pro-people-love-living there,” he said.

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“New York’s a wonderful place too, but… [people] think that somehow being anti-business is going to help a city. It’s not.”

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FOX Business’ Bradford Betz contributed to this report.

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GameStop Raises eBay Stake to 6.55% as Ryan Cohen Presses Takeover Push

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Amateur investors have targeted shares of firms including GameStop that had been "short-sold" by hedge funds

NEW YORK — GameStop Corp. (NYSE: GME) shares traded at $22.43, down 0.06 or 0.27%, in early trading on Friday, May 22, 2026, as the video game retailer continued efforts to increase its influence at eBay following a rejected $56 billion acquisition proposal.

The company has raised its stake in eBay to approximately 6.55% from about 5%, according to recent filings. Chairman and CEO Ryan Cohen has been vocal about his vision for combining the two companies despite eBay’s board rejecting the unsolicited offer.

eBay’s board called the proposal “neither credible nor attractive” when it was announced earlier in May. GameStop offered $125 per share in a half-cash, half-stock deal. Cohen has criticized eBay’s leadership, stating the company is “run by a bunch of losers” with “perverse financial incentives.”

GameStop reported fiscal fourth-quarter and full-year 2025 results on March 24, 2026. Net sales for the quarter ended Jan. 31, 2026, were $1.104 billion. For the full year, net sales totaled $3.630 billion. The company has been shifting focus toward collectibles, technology initiatives and strategic investments.

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The next earnings report for the first quarter of fiscal 2026 is scheduled for June 9. Analysts expect modest adjusted earnings per share.

GameStop maintains a strong cash position with no long-term debt. It has used its balance sheet for share buybacks in the past and strategic investments, including the growing position in eBay.

Market capitalization stood near $10 billion. The stock has shown meme-stock characteristics with periods of high volatility and retail investor attention, though movements have moderated compared to 2021 levels.

Cohen, who previously founded Chewy, has driven GameStop’s transformation efforts beyond traditional retail. He has emphasized operational efficiency, inventory management and exploring new revenue streams.

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The eBay stake increase signals continued pressure from Cohen despite the board’s rejection. GameStop has not ruled out further actions, including potential shareholder campaigns or additional proposals.

No new updates on the eBay situation were released on May 22. Trading volume remained active in morning sessions as investors monitored developments.

GameStop operates hundreds of stores across the U.S. and internationally. It sells video games, hardware, collectibles and merchandise while expanding e-commerce and digital initiatives.

Analysts have mixed views on the long-term strategy. Some see potential in diversification and activist moves, while others question the feasibility of major acquisitions amid competition from larger e-commerce platforms.

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The stock’s 52-week range has been approximately $19.93 to $35.81. Year-to-date performance reflects ongoing speculation around strategic initiatives and Cohen’s leadership.

GameStop has approximately 120,000 employees. The company continues to adapt to industry shifts toward digital downloads while growing its physical and collectibles business.

Short interest and options activity remain notable for GME, consistent with its trading profile. The stock continues to attract both institutional and retail investors.

No dividend has been declared in recent periods. The company prioritizes operational flexibility and potential strategic opportunities.

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Investors will watch the June 9 earnings report for updates on Q1 performance, the eBay situation and any further strategic moves. Management is expected to provide commentary on the transformation plan.

The broader retail and gaming sectors face challenges from economic uncertainty and changing consumer habits. GameStop has positioned itself as a destination for gaming enthusiasts and collectors.

Cohen’s activist approach has kept GameStop in the spotlight. His $56 billion eBay proposal, though rejected, has fueled ongoing speculation about future corporate actions.

As of May 22 morning, no official response from eBay to the increased stake has been reported. The situation remains fluid as both companies navigate their respective strategies.

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GameStop’s focus remains on delivering shareholder value through operational improvements and selective investments. The coming weeks will be critical as the company navigates the evolving retail landscape.

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Costco patio swings recalled after seat detachments lead to injuries

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Costco offers fertility treatments discounts with up to 80% savings nationwide

A Costco-exclusive patio swing is being recalled after multiple reports that the seat detached while consumers were using it, causing injuries and posing what federal safety officials called a risk of “serious injury or death.”

World Bright International Limited is recalling about 18,500 Agio Menlo Woven Patio Swings, according to a recall notice posted by the U.S. Consumer Product Safety Commission on May 14.

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The recall involves Agio Menlo Woven Patio Swings with model number 1934256 that were sold exclusively at Costco stores nationwide and online at Costco.com from February 2026 through March 2026 for between $549 and $649.

POPULAR COSTCO KITCHEN GADGET RECALLED AFTER FIRE HAZARD LEAVES PERSON BURNED

recalled patio furniture

There have been at least eight reports of swing seat detachments. (CPSC / FOXBusiness)

According to the recall notice, the swing seat can detach from the frame while in use, creating a fall hazard.

The company has received eight reports of the swing seat detaching from the frame, resulting in eight reported injuries, including impact injuries to consumers’ heads and arms.

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recalled patio furniture

The old open s-hooks are being replaced as part of the recall. (CPSC / FOXBusiness)

The recalled swings feature a black metal frame and swing arms, a fabric canopy and a padded brown outdoor wicker seat. The swing frame measures about 75 inches high, 71 inches wide and 48 inches deep.

Consumers are being urged to immediately stop using the recalled patio swings and contact World Bright International Limited for a free repair kit that includes replacement hooks and installation instructions.

recalled patio furniture

Consumers are eligible to receive a free repair in the form of replacement hooks. (CPSC / FOXBusiness)

Consumers can contact the company toll-free at 888-383-1932 from 9 a.m. to 7 p.m. ET Monday through Friday, by email at recall@agioliving.com, or online at agioliving.com/pages/recall/patioswing for additional information.

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The swings were manufactured in China and imported by Costco Wholesale Corporation, based in Issaquah, Washington.

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Court won’t revisit ruling, opening door to pro-Palestinian activist Mahmoud Khalil’s rearrest

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Court won’t revisit ruling, opening door to pro-Palestinian activist Mahmoud Khalil’s rearrest


Court won’t revisit ruling, opening door to pro-Palestinian activist Mahmoud Khalil’s rearrest

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Infleqtion Stock Surges 19.96% to $17.63 on $100M CHIPS Funding and Quantum Breakthroughs

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Dell Cuts Its Workforce as Part of Broader Initiative to Reduce Costs After Sluggish Demand in PC Market

NEW YORK — Infleqtion Inc. (NYSE: INFQ) shares rose sharply in morning trading Friday, May 22, 2026, climbing $2.93 or 19.96% to $17.63 as investors reacted to a $100 million funding letter of intent from the U.S. Department of Commerce and recent technical advances in its neutral-atom quantum platform.

The company announced on May 21 that it signed a Letter of Intent with the U.S. Department of Commerce’s CHIPS Research and Development Office for $100 million in proposed funding. The investment is contingent on achieving certain development milestones and is aimed at accelerating U.S. leadership in quantum computing technologies.

This funding complements broader government support for quantum computing. Reports indicate Infleqtion is among recipients in a $2 billion federal grant package that includes equity stakes for the government in participating companies.

On May 20, Infleqtion detailed several technical breakthroughs, including the release of resource-superstaq, an open-source architecture-level resource estimation package; a record-breaking dual-species rubidium-cesium entangling gate; a new theory preprint showing a path to neutral-atom entangling-gate fidelity beyond 99.9%; and a static magnetic-field approach to sub-Doppler cooling and optical atom transport.

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Infleqtion reported first-quarter 2026 revenue of $9.5 million on May 14, up 14% year-over-year. The company raised its full-year 2026 revenue outlook to at least $40 million. It ended the quarter with $569 million in cash and no debt.

Infleqtion, formerly known as ColdQuanta, went public in February 2026 through a SPAC merger. The company specializes in neutral-atom quantum computing and quantum sensing technologies. It serves government, commercial and research clients with applications in computing, sensing, timing and navigation.

The company has secured multiple government contracts, including ARPA-E awards for energy grid optimization and quantum computing in chemistry and materials science. It also collaborates with NASA on a quantum gravity sensor mission.

Infleqtion delivered the UK’s first operational 100-qubit quantum computer and continues scaling efforts. It aims for more than 100 logical qubits by 2028.

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Market capitalization exceeded $3.5 billion in recent trading. The stock has shown significant volatility since going public but has gained momentum on positive news flow and sector-wide government support.

Trading volume on May 22 was substantially higher than average as the funding and technical news circulated. Quantum computing peers including IonQ, Rigetti Computing and D-Wave Quantum also posted notable gains.

Infleqtion’s neutral-atom technology uses arrays of individual atoms as qubits, offering potential advantages in coherence times and scalability. The company has demonstrated high gate fidelities and is advancing error correction techniques.

The CHIPS funding is part of efforts to strengthen domestic quantum capabilities for economic competitiveness and national security. The arrangement remains subject to milestones and due diligence.

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Infleqtion operates facilities in the United States, Europe and Asia. It partners with major organizations including NVIDIA for quantum-classical integration.

No new corporate announcements were released on May 22. The company’s next major update is expected with its second-quarter 2026 earnings later in the summer.

Analysts track Infleqtion’s progress toward fault-tolerant systems and revenue scaling. The company reported 2025 revenue of $32.5 million and targets at least $40 million for 2026.

The quantum computing sector continues to attract attention as governments and enterprises invest in potential applications for optimization, simulation, cryptography and artificial intelligence.

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Infleqtion employs researchers, engineers and technical staff focused on advancing quantum hardware and software. The company maintains a strong cash position to support research, development and commercialization.

Investors will monitor execution on roadmap goals, new customer wins and deployment of government funding in coming quarters. The stock’s performance on May 22 reflects heightened market interest in quantum computing leaders.

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Air Canada reaches tentative deal with Unifor for 6,000 workers

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Air Canada reaches tentative deal with Unifor for 6,000 workers

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Kevin Warsh takes over US Fed with a policy problem already in view

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Kevin Warsh takes over US Fed with a policy problem already in view
Kevin Warsh, whose broad criticism of current U.S. Federal Reserve officials, playbook for rate cuts and ties to President Donald Trump elevated him past other contenders to lead the central bank, will be sworn in as Fed leader Friday at a pivotal moment for monetary policy and the American economy.

An unfolding boom in artificial intelligence technology is reshaping the economy in ways Fed officials say could be profound for workers, companies and consumers, but will be hard for Warsh and his colleagues to assess in real time. At the same moment inflation is already high and potentially heading higher as the economy ‌copes with shocks including oil driven ⁠over $100 a ⁠barrel by the U.S.-Israeli war with Iran, high import tariffs and utility and some other costs rising due to the AI rollout.

The debate over policy is already at a high pitch, with Fed Governor Christopher Waller, a Trump appointee who was interviewed for ​the chair’s job, on Friday making a significant turn in his own thinking and agreeing with a group of recent Fed dissenters that the central bank should drop the “easing bias” from its policy outlook and open ​the door to a possible rate hike.

With recent data showing inflation broadening and intensifying across the economy, the Fed should “make it clear that a rate cut is no more likely in the future than a rate increase,” Waller said less than an hour before Warsh was due to be sworn in, comments likely to add to market sentiment already leaning towards tighter monetary policy and a potential rate hike ​later this year. Warsh, 56, won Trump’s backing for the job over the course of what became a year-long public audition ⁠among the top ‌candidates – including one who will be seated alongside him on the Fed’s Board of Governors. Trump plans to swear Warsh in at 11 a.m. ET (1500 ​GMT) at the White House.

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The new chair has laid out ambitious reform goals for a central bank he argues had begun to lose its way by the time he quit ⁠his former seat as a governor in 2011 in opposition to Fed bondbuying. Now, though, his first months may be consumed with the more pressing dilemma of whether to raise interest rates to keep inflation from moving further beyond the Fed’s 2% target, or to put his credibility as an inflation fighter, the quality he will ultimately be judged by, at risk from the outset.


“Inflation is the Fed’s choice,” Warsh said at a Senate confirmation hearing, with its control over short-term interest rates a lever it can use to boost or discourage spending, and in doing so try to keep inflation at a target the Fed has set at 2%. The Fed has missed its target for more than five years and is currently more than a percentage point above it. How to get inflation back down can involve hard choices that sometimes conflict with the policies and goals of the Trump administration, and sometimes with the Fed’s other aim of maximum employment. Warsh will be looking over his shoulder from the moment he takes the oath ‌of office as the Fed’s 11th chair – at a global bond market that has begun bidding up interest rates in a sign of growing inflation concern, at colleagues like Waller who have begun setting expectations that higher rates may be needed, and at Trump, who in the past has viewed rate hikes as a political assault on his economic program and been sharply critical of outgoing Fed Chair Jerome ⁠Powell for not lowering borrowing costs.
Warsh’s comments and approach to ongoing disputes surrounding the Fed, including a coming Supreme Court decision on Trump’s so far unsuccessful effort to fire Governor Lisa Cook, also will be watched and compared closely to Powell’s staunch defense of Fed independence.The Fed’s next meeting is on June 16-17 when policymakers vote on interest rates and a new policy statement, and ​also submit new economic projections. One of Warsh’s first substantive decisions will be whether to submit a “dot” of where he thinks interest rates will be at the end of this year, and in doing so reveal whether his views are not so different from the colleagues he has slammed for “groupthink,” or become an outlier with views that could further confuse markets that are already driving up U.S. long-term interest rates.

The Fed’s monetary policy decisions influence an array of consumer-facing and politically sensitive interest rates like those on home mortgages, while its “choice” on inflation is now being made in the context of sticker shock over things like $4.50-per-gallon gasoline that are beyond its immediate reach.

Those have become visible reminders of Trump’s lack of progress on a key presidential promise that “starting on day one, we will end inflation and make America affordable again,” which is now in Warsh’s hands to deliver.

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Walmart CEO: Consumers ‘feeling some pressure’

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Walmart CEO: Consumers ‘feeling some pressure’

Potential tariff refunds could be reinvested in pricing.

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Blake Lively and Ryan Reynolds Hit With $2.1M Contractor Liens on New York Estate

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Ryan Reynolds (L) and Blake Lively attend the "Rei Kawakubo/Comme des Garcons: Art Of The In-Between" Costume Institute Gala at Metropolitan Museum of Art May 1, 2017 in New York City.

NEW YORK — Blake Lively and Ryan Reynolds face more than $2.1 million in mechanics liens filed by five contractors and subcontractors over construction work on their estate in Lewisboro, New York.

The liens were filed in April 2026, according to documents reported by TMZ and the Daily Mail. The total amount claimed is $2,108,856.63.

Flower Construction, a luxury construction company, filed the largest claim for $1,356,157.54. The company performed framing, brickwork, electrical systems, plumbing, drywall installation and heating-cooling infrastructure on the property.

Four additional specialized subcontractors filed separate claims related to excavation work, drainage systems and environmentally sustainable heating installations.

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The couple purchased nearly 110 acres of land in Lewisboro in 2018. Plans called for a 14,500-square-foot main residence, along with a pool house, gym facilities and eco-friendly heating infrastructure.

Construction on the project slowed toward the end of 2025 and came to a complete stop earlier in 2026, according to reports. No official comment has been issued by representatives for Lively or Reynolds regarding the liens or the status of the project.

The timing of the construction pause overlaps with Lively’s widely publicized legal dispute with Justin Baldoni, her co-star and director in the film “It Ends With Us.” Lively accused Baldoni of sexual harassment and running a retaliatory smear campaign. Several counterclaims filed by Baldoni were dismissed, while multiple allegations from Lively did not proceed further in court.

Lively and Reynolds, who married in 2012, have kept details of their Lewisboro property largely private. The estate project was intended to create an ultra-luxury private compound.

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Mechanics liens are legal claims against a property by contractors or suppliers who have not been paid for work performed. They must typically be resolved before the property can be sold or refinanced.

The couple has not publicly addressed the specific claims. No lawsuits have been reported as of May 22, 2026.

Lively, 38, and Reynolds, 49, are among Hollywood’s highest-profile couples. They have four children together and frequently appear together at public events and on social media.

Reynolds has built a successful career in film, producing and owning stakes in businesses including Mint Mobile. Lively is known for roles in “Gossip Girl,” “The Sisterhood of the Traveling Pants” and “It Ends With Us.”

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The Lewisboro property is located in Westchester County, about 50 miles north of Manhattan. The area is known for large estates and privacy.

No building permits or construction updates have been made public since the slowdown was reported. Local authorities have not commented on the project’s status.

The $2.1 million in liens represents a relatively small fraction of the couple’s combined net worth, which is estimated in the hundreds of millions of dollars. However, such disputes can delay projects and create legal complexities.

Lively and Reynolds have not listed the property for sale. The estate was envisioned as a long-term family home.

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This is not the first time high-profile celebrities have faced contractor disputes during large-scale home builds. Similar cases often resolve through negotiation or settlement.

The couple continues to reside primarily in New York while maintaining properties in other locations. They have not altered their public schedule amid the reported construction issues.

Lively has remained active in business ventures, including her haircare line and film projects. Reynolds continues work on “Deadpool” and other productions.

No timeline has been provided for resolution of the liens or resumption of construction. The contractors involved have not issued public statements beyond the filings.

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The Lewisboro estate project began after the couple’s purchase in 2018. Early plans reportedly included sustainable features and extensive grounds development.

As of May 22, 2026, the property remains under the couple’s ownership. Public records show no change in title or major legal actions beyond the mechanics liens.

The situation has drawn media attention due to the couple’s high profile. Entertainment outlets continue to monitor developments related to the estate and any potential resolution.

Lively and Reynolds have historically maintained privacy around their real estate holdings. Details about the project’s scope and cost have not been officially disclosed.

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The liens do not necessarily indicate financial distress. They often arise from billing disputes, change orders or project delays common in large construction endeavors.

Further updates are expected as the parties involved work toward resolution. The couple has not commented publicly on the matter.

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Slideshow: Beverage innovation is booming

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Slideshow: Beverage innovation is booming

New offerings feature format and flavor innovations.

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Ziff Davis: Sell The Accenture Pop Before The Core Erodes Further

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Ziff Davis: Sell The Accenture Pop Before The Core Erodes Further

Ziff Davis: Sell The Accenture Pop Before The Core Erodes Further

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