Stories from New York · United States

Bain Capital plans to offload its majority stake in Tyger Capital, according to industry sources.

Germany intends to seek a two-year term as a non-permanent member of the UN Security Council starting in 2027. The bid is described as a contested campaign rather than a guaranteed appointment, particularly amidst current global conflicts. The candidacy is described as not being a guaranteed win due to geopolitical uncertainties. The Gaza war remains a factor for UN member states, many of whom condemn Israeli government actions, while Germany remains a close ally of Israel. Most UN member states have condemned the actions of the Israeli government, while Germany remains one of Israel's closest allies. Germany has previously faced accusations of applying different standards to the actions of Israel and the Palestinians. The application process is currently underway according to reports. The candidacy aims to leverage German expertise and institutional knowledge, according to the source.

U.S. Concerns were raised regarding market performance during the session. The index closed at 4,914.93, down 25.86. The NYSE closed at 4,914.93 points, down 25.86 points. The decline was influenced by selling in AI-related stocks like Nvidia and Amazon following reports of stagnating OpenAI revenue. Shares of AI-related companies including Nvidia and Amazon.com were sold following reports from the Wall Street Journal. Nvidia and Amazon.com stocks were specifically noted as being sold due to AI industry outlook concerns. US semiconductor and AI stocks declined following reports that OpenAI failed to meet user growth and revenue expectations. The Philadelphia Semiconductor Index fell over 3%, with Nvidia and Intel both dropping more than 2%. Major US semiconductor and AI stocks experienced a collective decline.

New York City has approximately 300 park patrol officers to enforce regulations across the city. Joe Puleo, president of the union representing these officers, stated there are simply not enough officers to enforce all rules in every location. Current enforcement challenges include managing large unpermitted parties and ensuring compliance with noise and trash regulations.

Tony Award nominee Uzo Aduba and actor Darren Criss will announce the nominations for the 79th annual Tony Awards next Tuesday. Leslie Manville, John Lithgow, and Daniel Radcliffe are also among the nominees. The awards celebrate the best US stage productions from the past year. Nominees include actors John Lithgow, Daniel Radcliffe, and Rose Byrne. The ceremony is considered a prestigious event in the theater industry. The new musicals The Lost Boys and Schmigadoon have each received 12 nominations. The musical parody of Titanic, based on the 1987 film The Lost Boys, received a nomination for Best Musical. Marla Mindell also received a nomination for Best Actress. The Tony Awards will be held on June 7 at Radio City Music Hall in New York City. Pink is scheduled to host this year's ceremony. Musical comedy spoof Titan Eek is nominated for Best New Musical.

The United Nations is debating measures to prevent nuclear war during a conference in New York.

A man named Brown has filed a legal claim against New York City, the NYPD, and the arresting officers following an incident where he says he was brutally beaten for no reason. Brown stated he is now afraid of police and cannot work due to his injuries.

High income customers are driving luxury purchases nationwide in the United States. This trend is part of a K-shaped economy. American Express is targeting high income customers to drive these luxury purchases.

American Express is sharpening its focus on affluent customers to drive growth. Wealthy card members continue to spend freely nationwide. The company is reportedly intensifying its efforts to capture this specific market segment.

Investments in artificial intelligence in the United States are projected to exceed one trillion dollars across 2025 and 2026. Doubts regarding the return on these investments have triggered profit-taking by investors.