Stories from New York · United States

Shares of Bill Ackman's Pershing Square USA, ticker PSUS, opened approximately 17% below their IPO price. The combined IPO for the closed-end fund and the alternative asset manager raised $5 billion. The shares were trading at roughly $42 per share at the time of the IPO. The stock saw a decline of 16% to 17% during opening trading. The decline followed a combined initial public offering for the closed-end fund and Ackman's Altar.

A United Nations Security Council resolution supported by Bahrain to coordinate the protection of commercial shipping through arms was blocked by vetoes from China and Russia. The move comes amid ongoing global economic instability affecting transport and food prices. The resolution aimed to address maritime security and freedom of navigation. The move occurs as efforts to find a political formula for the conflict continue. Issues including freedom of navigation and security guarantees remain unresolved. The proposal is moving forward to the Executive Yuan for approval, after which the Ministry of Foreign Affairs will proceed with implementation and report to the State Council. Concerns were raised about the potential for small, unmonitored groups to acquire weapons in the Asian region, leading to instability and conflict.

A court has approved arrest warrants for officials related to the Sinaloa case. The source stated that the case has already been presented in court and received approval from a grand jury. The United States has requested arrest warrants for 10 current and former Mexican officials to stand trial in New York on drug trafficking charges. level drug crime allegations involve former Venezuelan president Nicolás Maduro and his wife. The source mentioned individuals were detained in New York following arrests in January. US authorities in New York have filed accusations and extradition requests for Sinaloa Governor Rubén Rocha Moya and nine other officials. The officials are allegedly linked to crimes involving narcotics and weapons.

Median rent listed on realtor.com in New York City rose to more than $3,600 during the first quarter of this year. High housing prices are reportedly trapping some residents in their current apartments.

A petition led by Kelly Ryerson has been drafted calling for the firing of Lee Zeldin. The petition alleges that Zeldin failed to prioritize public health regarding chemicals defined as PFAS or PFAS-adjacent compounds. These substances are reportedly used in sprays on crops.

NeuLion USA LLC will terminate 7 employees at its facility located at 132 West 31st Street, New York. The layoffs are scheduled to take effect on June 15, 2026.

Business leaders and the Sackler family behind Purdue Pharma allegedly knew the painkiller was highly addictive while continuing to drive sales. The company reportedly provided extra bonuses to salespeople to encourage doctors to prescribe the medication more frequently.

David Burke, whose real name is David Burke, faces a preliminary hearing status conference this afternoon. He is accused of sexually abusing and murdering a 14-year-old. A preliminary hearing could occur as early as Friday, depending on the outcome of the check-in.

The MTA reported that Long Island Railroad riders are experiencing delays and cancellations. The service disruptions occurred after two trains became stuck in an East River tunnel. No specific cause for the trains becoming stuck was provided by the MTA.

Motiv, a company based in New York, has obtained an exclusive license for a brain implant device. The device, known as the XS system, is designed to monitor mental health. The procedure to implant the device is reported to take approximately twenty minutes.