Smiling Mamdani keeps Cuomo on defense throughout New York mayoral debate: AP takeaways

A New York jury has ruled that BNP Paribas is liable for over $20 million in damages to three Sudanese refugees who are now US citizens. The jury found that the French bank played a role in supporting the regime of former leader Omar al-Bashir, which was responsible for severe atrocities against civilians in Sudan. This ruling highlights the accountability of financial institutions in global human rights issues and could set a precedent for future cases involving banks and their complicity in international crimes.

Willy Walker, the CEO of Walker & Dunlop, has stated that the ongoing government shutdown has not yet impacted the commercial real estate sector. During an interview on 'The Close,' he also highlighted concerns surrounding New York's mayoral race, particularly regarding potential new rent controls. This is significant as it reflects the current stability in commercial real estate despite political uncertainties, and it raises questions about how future policies might affect the market.

At the Bloomberg Enterprise Data and Tech Summit in New York, Citadel's CTO Umesh Subramanian discussed the crucial role of data and technology in making informed investment decisions. His insights highlight the competitive landscape hedge funds face in leveraging the right data to stay ahead, emphasizing the importance of technological advancements in the finance sector.

Oracle's stock took a significant hit, dropping as much as 8.2% in New York, following concerns about its ability to meet the growing demand for AI cloud services. This decline marks the company's largest drop in nearly nine months, raising questions about its long-term financial outlook. Investors are closely watching how Oracle plans to navigate this challenge, as the demand for AI solutions continues to surge in the tech industry.

Loro Piana, the Italian brand known for its luxurious cashmere, is captivating New York shoppers with a stunning light display and interactive installation at Bergdorf Goodman. This event not only showcases the brand's commitment to Quiet Luxury but also enhances the shopping experience in one of the city's most prestigious department stores, making it a must-see for both locals and tourists.

New Yorkers are bracing for potential tax hikes, a situation that seems unavoidable regardless of who becomes the next mayor. With looming federal cuts to essential health and food aid, several lawmakers are warning that higher taxes may be on the horizon. This news is significant as it highlights the financial challenges facing the city and the impact on residents' livelihoods, making it a critical issue for voters.

New York Mayor Eric Adams is contemplating a series of appointments to the rent board that could potentially undermine the agenda of his main rival, Zohran Mamdani. This move is significant as it highlights the ongoing power struggle within the city's leadership and raises questions about the future of housing policies in New York. The implications of these appointments could affect many residents, making it a critical issue to watch.

Australian Treasurer Jim Chalmers is set to meet with major investors in New York, promoting Australia as a stable and resource-rich destination for global capital. This initiative is crucial as it aims to diversify critical supply chains away from China, highlighting Australia's strategic importance in the global market. By attracting Wall Street firms, Australia is positioning itself as a key player in the evolving economic landscape, which could lead to increased investment and economic growth.

A US court has ordered the spyware company NSO to cease its targeting of WhatsApp, a significant ruling that underscores the growing scrutiny on surveillance technologies. This decision is important as it aims to protect user privacy and sets a precedent for how courts may handle similar cases in the future.

Kering is reportedly close to finalizing a $4 billion sale of its beauty unit to L’Oreal, according to the Wall Street Journal. This deal is significant as it marks a strategic shift for Kering, allowing the luxury goods company to focus more on its core fashion brands while L’Oreal expands its portfolio in the beauty sector. Such a transaction could reshape the competitive landscape in the beauty industry, highlighting the ongoing trend of consolidation among major players.

Nvidia is making waves in the AI sector with its Vera Rubin project, potentially sparking another surge in artificial intelligence advancements. The company has transformed from a traditional tech player to a market leader, boasting a market cap exceeding $4 trillion. This growth not only highlights Nvidia's pivotal role in the tech industry but also positions it as a key driver of the S&P 500, influencing broader market trends. As AI continues to evolve, Nvidia's innovations could shape the future of technology and investment.

Paramount and Skydance are set to cut 2,000 jobs in the U.S. starting the week of October 27, as reported by Variety. This significant reduction in workforce highlights the ongoing challenges faced by the entertainment industry, particularly in the wake of economic pressures and changing consumer behaviors. The layoffs not only impact the employees directly affected but also signal broader trends in the industry that could affect future productions and job stability.

In a candid admission, Stephen Moore, a former economic advisor to Trump, has expressed concerns about the negative impact of tariffs on economic growth and consumer prices. Speaking to Fortune, he highlighted that tariffs essentially act as taxes, which he believes are detrimental to the economy. Moore also voiced apprehension over Trump's recent comments regarding price controls on essential goods like drugs and beef, suggesting that such interventions could further complicate economic stability. This matters because it reflects a growing unease among even Trump's allies about the long-term effects of his economic policies.

The seafood industry is facing significant challenges, with many chains, including Red Lobster, struggling to stay afloat. Rising costs of key ingredients like shrimp and lobster, combined with a decline in consumer interest, have led to a series of restaurant closures, leaving only 18 locations operational. This situation highlights the broader issues within the industry, as affordable seafood becomes increasingly difficult to provide, impacting both businesses and consumers.