Related Cos. CEO Calls For Workers To Come Back To New York City

PYMNTS

Some major New York City retail properties — including the shopping center at Hudson Yards — are only producing 50 percent of pre-pandemic rent, the CEO of major Big Apple landlord Related Cos. People have left the city. This is about bringing New York back to life.

New York City Council Bans Cashless Food And Retail Stores

PYMNTS

The New York City Council on Thursday (Jan. Applebaum added that communities of color in New York City are more than twice as likely to lack access to a bank and are less likely to host a branch of a bank than the national average. Praising Torres and the other councilmembers, he said the bill would ensure that everyone can shop or eat at any place in the city. 23) passed a ban on cashless food and retail stores.

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Retail Vacancies Spike In New York City

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As New York City ’s vacancy rate has skyrocketed by nearly 50 percent, a report released by City Comptroller Scott Stringer showed that the amount of empty retail space in the city has doubled in the last 10 years or so. Overall, the 24-neighborhood analysis indicates that vacancy has grown across the city’s five boroughs. Earlier this year, news surfaced that rents were falling and vacancies were rising on New York’s storied Fifth Avenue.

New York City Mulls Fur Sales Ban

PYMNTS

Following the lead of other municipalities, New York City could be going fur-free with a proposed law on the horizon. Council Speaker Corey Johnson recently introduced a bill to ban companies from selling fur apparel in the city, which comes after similar efforts in cities such as West Hollywood, Calif., Two other cities in California — San Francisco and Berkeley — have also passed similar laws. Retail fashion Fur new york city News regulation What's Ho

Mercari Links With Postmates To Offer Mercari Now Delivery Service In Parts Of New York City

PYMNTS

Residents of Manhattan and Brooklyn can now use Mercari ’s new Mercari Now service in conjunction with Postmates to sell each other goods without having to physically connect, the company announced in a press release Tuesday (Oct. The company said the New York offering follows a successful three-month trial program in San Francisco. CEO John Lagerling said the company has a loyal user base in New York City.

New York City Restaurants Could Reopen In July

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Dining out in New York City could soon be a reality again. More than two months after New York City was locked down to prevent the spread of COVID-19, Mayor Bill de Blasio said his goal is to reopen eateries in July, Bloomberg reported. “We’ll We’ll do what it takes to help this key part of New York City, its economy, the wellspring of the livelihood of hundreds of thousands of New Yorkers, to come back strong,” the mayor said, according to Bloomberg.

Amazon Rethinks New York City HQ2 Campus

PYMNTS

After facing resistance from politicians and protestors, Amazon is reportedly rethinking its planned New York City campus. The eCommerce retailer, which had intended to bring 25,000 jobs to the city, hasn’t acquired office space for the effort as of now, The Washington Post reported. While Virginia officials provided the company with an incentive package, the state of New York is not projected to provide final approval for another year.

Nordstrom Opens New Flagship Store In New York City

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As it expands in New York City, Nordstrom opened the doors to its first-ever flagship store for women and children on West 57th Street across from the new Nordstrom Men’s Store that debuted last April. The new flagship store occupies the base of the Central Park Tower, which the company says is the tallest residential building in the world, according to an announcement. Retail beauty brick and mortar new york city News Nordstrom What's Hot

New York City Sees Lower Rents Due To Pandemic

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The New York City real estate market, battered like other economic sectors by the coronavirus pandemic, is seeing lower rates than it has in almost a decade. Because of the current conditions, some of the most expensive listings in the area are being discounted as property owners try to hook in new buyers. Real Estate Coronavirus economy new york city News real estate Retail What's Hot

Tech Center: New York City Takes on Tech Full Force

PYMNTS

For years, New York City has been at the epicenter of United States’ culture with the fashion and entertainment industries leading the way. With the top modeling agencies, MTV and the home of American broadway plays, there’s no denying New York City is bustling with creativity. With a big focus on technology in Silicon Valley and Boston, New York City slowly made its way to becoming a powerhouse tech player.

Stripe To Give $20K Bonus, Then Pay Cut For Workers Who Leave New York City, San Francisco Or Seattle

PYMNTS

intends to provide a $20,000 bonus to workers who choose to leave San Francisco, Seattle or New York while reducing their base salaries by up to 10 percent, Bloomberg reported, citing an unnamed source.

Starbucks To Open Pickup Location In New York City

PYMNTS

As the company modernizes and reimagines the customer experience in stores located in high-traffic metropolitan areas, Starbucks plans to open a Starbucks Pickup store in New York City on Tuesday (Nov. In separate news, Starbucks reported growth in the ranks of its rewards program membership as it continues to pursue new opportunities to expand digital customer relationships.

Walmart’s Jet to cease its New York City fresh grocery business

Payments Source

s Jet subsidiary is ending its fresh-food delivery business just a year after introducing the service in New York City, another sign that the urban-focused site is scaling back. Walmart Inc.’s ISO and agent Retailers Digital payments Online payments Walmart

In New York City, paper receipts set to go the way of foie gras

Payments Source

Those yard-long paper receipts that spew from cash registers may be following plastic bags and foie gras into the dustbin of New York City history. Point-of-sale Retailers Compliance New York

Walmart Bringing Same-Day Delivery To New York City

PYMNTS

s Jet.com unit is getting into the same-day grocery delivery market, gearing up to offer the service in New York City. Bloomberg , citing a statement the company made via email, reported that Jet plans on opening up a fulfillment center in the Bronx in the fall that will enable same-day and next-day delivery of groceries in New York City. Jet told Bloomberg the new fulfillment center will result in the creation of hundreds of new jobs.

Hilton Hotel In Times Square To Close

PYMNTS

In a filing with New York’s State Department of Labor Monday (Aug. The iconic hotel on West 42nd Street was shuttered and furloughs began in mid-March as COVID-19 struck the city, The Wall Street Journal (WSJ) reported. The Hilton is not the only New York hotel taking a hit.

NYC Approves Restaurant Surcharge 

PYMNTS

It could cost more to dine in New York City restaurants. The City Council approved an optional 10 percent fee restaurateurs can charge to ease the financial hardship brought on by COVID-19, The Wall Street Journal reported.

Sleep Number Unveils New Interactive Store In New York City

PYMNTS

Sleep Number is opening a new brick-and-mortar store in the New York City’s Flatiron District, adding to its portfolio of over 560 locations. Our new Sleep Number store in the Flatiron District demonstrates the transformative impact of our smart beds on individual comfort, restfulness and well-being.”. With the store experience, shoppers can see a digital map that shows how people in neighborhoods across the city are sleeping.

NYC Sees 40 Pct Hike In Bankruptcies As Office Workers, Tourists Stay Home

PYMNTS

Bankruptcy filings are surging in New York City with almost 6,000 closures, representing a 40 percent increase, according to Bloomberg , and it's forecasted to keep getting worse. Economy bankruptcy economy new york city News Restaurants Retail What's Hot

Data: 87 Pct Of NYC Restaurants Couldn't Pay Full Rent In August

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Eighty-seven percent of New York City restaurants, bars and other such venues couldn't pay their full rent during August, according to the most recent Rent Report from the NYC Hospitality Alliance. Economy economy new york city News Rent Payments Restaurants What's Hot

Bundle Up: NYC Restaurants To Offer Year-Round Outdoor Dining

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Dining out has taken on new meaning in New York City. Open Street, the city program that closes street blocks to vehicular traffic, will also be permanent. “I Retail Coronavirus new york city News Restaurants What's Hot

Organizers planning de novo bank in New York City

American Banker

Capital OCC City of New York, NY De novo institutions Growth strategiesThe group behind NewBank is pursuing a charter with the Office of the Comptroller of the Currency to offer banking services nationwide.

NYC Could Close Nonessential Businesses In Some Areas If Pandemic Outbreak Grows

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New York City might shutter nonessential businesses in multiple districts and prohibit groups of over 10 individuals, city officials cautioned, The Wall Street Journal reported. The warning come as city leaders said on Friday (Sept.

New York City Department of Consumer Affairs Releases Glossary and Translations of Commonly-Used Terms Just Before October 1, 2020 Expiration of Enforcement Grace Period

CFPB Monitor

The enforcement grace period for the New York City Department of Consumer Affairs’ (“DCA”) new debt collection rules , ends today, October 1 st.

NYC To Reopen Indoor Dining As Virus Cases Stay Low

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New York City will reinstate indoor dining as of Sept. The reason for the reopening of indoor dining, Cuomo said, is because compliance with distancing restrictions among New York City restaurants has now exceeded 99 percent.

IBM hosting two day Sales Performance Management Summit in New York City

Insights on Business

IBM is excited to be hosting the 2019 Sales Performance Management Summit, being held in New York City for sales executives and compensation leaders. Also discussed will be product demos about the new capabilities and features of the most recent release of IBM Incentive Compensation Management (ICM). Featured Carousel Featured Homepage Sales Performance Management events ICM Incentive Compensation Management New York NYC

New York City Department of Consumer Affairs issues formal guidance on its new limited English proficiency debt collection rules

CFPB Monitor

As discussed in our June 12th post , the New York City Department of Consumer Affairs (“DCA”) issued new debt collection rules related to limited English proficiency servicing.

New York City Department of Consumer Affairs extends enforcement grace period on its new limited English proficiency debt collection rules to October 1, 2020

CFPB Monitor

As discussed in our June 12th and August 7th posts, The New York City Department of Consumer Affairs (“DCA”) issued new debt collection rules related to limited English proficiency servicing, which took effect June 27, 2020.

Hilton Times Square Closure Bruises NYC Tourism Rebound

PYMNTS

It sounds so nice they had to name it twice: New York, New York. These days, however, America’s biggest and arguably most vibrant city — a tourist magnet and concomitant revenue engine unmatched on the continent — is facing a long road to recovery.

New York City amends debt collection regulations to include language proficiency requirements

CFPB Monitor

New debt collection rules creating requirements relating to consumers’ language proficiency are set to take effect in New York City on June 27, 2020. The new rules amend NYC’s existing debt collection regulations applicable to creditors collecting their own debts as well as third-party collection agencies. Debt Collection Limited English Proficiency Regulatory and Enforcement debt collection language new york

Silicon Valley’s Lead in Innovation Centers is Shrinking

Bank Innovation

A new report shows that despite many companies struggling to maintain a culture of innovation, financial services companies are among the top three industries getting it right. DataBank Innovations Online Open Fintech Payments Startups fintechs innovation labs New York City TexasIf it feels like innovation has been one of the hot themes of 2017 in the financial world, it’s because its true.

Report: One-Third Of NYC SMBs Could Close Permanently

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It’s closing time for many small businesses in New York City. The New York Times said a new report from the Partnership for New York City estimated that one-third of the city’s 240,000 small businesses could close down and vanish.

NYC Quarantine Violators Could Face Fines Of Up To $10K

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Visitors to New York City who are caught coming from states with high rates of COVID-19 could be assessed a hefty fine due to a new state quarantine order. 5) that checkpoints at bridges and tunnels leading into the city will enforce the state quarantine order. “We’re

Enforcement grace period expected for amendments to New York City debt collection regulations adding language proficiency requirements

CFPB Monitor

ACA International has reported that after discussions last week with the New York City Department of Consumer Affairs (DCA), the DCA is expected to announce a 60-day enforcement grace period for the new requirements relating to consumers’ language proficiency that were recently added to NYC’s existing debt collection regulations. The new requirements currently are set to take effect on June 27, 2020.

New York City moves to ban cashless stores

American Banker

The city would join San Francisco and Philadelphia among cities that prohibit stores and restaurants from only accepting electronic payments. Payments Mobile payments Payment methods Credit cards Cash Visa Mastercard American Express New York