- Wall Street leaders concerned about Mamdani’s policies impacting NYC competitiveness
- Some finance heavyweights including Ackman oppose Mamdani
- Mamdani has engaged with business leaders
World
Wall Street has misgivings about Mamdani as mayor, but prepares for collaboration
NEW YORK, Oct 31 (Reuters) – Wall Street and the finance industry have broad misgivings about the prospect of frontrunner Zohran Mamdani becoming New York City’s mayor, but many are hopeful he moderates his positions as they prepare to try and work alongside him.
Mamdani’s policies range from hiking taxes on New York City’s wealthiest, raising the corporation tax, freezing stabilized apartment rental rates and increasing publicly subsidized housing, raising worries among the finance community that the city’s competitiveness will suffer.
Sign up here.
“There are a whole bunch of ideas that are well-intentioned. What I agree with is that he has attracted real passion,” said Cromwell Coulson, chief executive at Manhattan-based markets data and trading platform OTC Markets Group. Still, Coulson cited concerns, saying that some people could be driven to leave the city if it becomes an unfriendly place for commerce.
“It won’t be day one, but you will see where our hiring footprints go,” said Coulson, who said he ultimately supports Mamdani’s top rival in the race, former Governor Andrew Cuomo, a moderate Democrat. Republican Curtis Sliwa is also on the ballot in the November 4 election.
Reuters spoke to more than half a dozen other members of the finance community, including executives or representatives of financial firms or industry sectors, who declined to be named talking about politics.
“If the election turns out the way the polls suggest, … let’s hope that the worst fears of what might occur thereafter are not realized and that the new mayor, whoever it might be, continues to realize the importance of the business community to the city,” Peter Orszag, CEO of financial advisory and asset management firm Lazard CEO, said on a recent earnings conference call. Orszag had served under Democratic former President Barack Obama as director of the Office of Management and Budget.
Some heavyweights in finance have poured money into efforts to defeat Mamdani. High-profile investor Bill Ackman posted on X on Sunday that Mamdani’s “anti-business policies including higher corporate taxes will kill NYC jobs and cause companies to flee.” Ackman has donated $1 million to Defend NYC, which describes itself as a “bipartisan group of New Yorkers united by a shared concern over the policies and record of Zohran Mamdani,” and $750,000 to Fix the City, which supports Cuomo, according to data on the New York City Campaign Finance Board website.
Billionaire investor Dan Loeb has donated $600,000 to Fix the City and $100,000 to Defend NYC. Representatives for both Ackman and Loeb declined comment.
Still, with betting website Polymarket having the odds of Mamdani winning at 95%, Wall Street leaders are increasingly focusing on how to work with him. Indeed, Mamdani has been engaged directly with business leaders. He spoke with CEOs in meetings organized by the Partnership for New York City, whose members include Wall Street banks, private equity firms and law firms, according to Kathryn Wylde, CEO of the organization. In the summer, he spoke by phone with JPMorgan Chase (JPM.N) CEO Jamie Dimon, who offered help if Mamdani becomes mayor, one of the sources said. Another of the sources said Mamdani has been engaged with the real estate industry.
The call with Dimon was previously reported by Bloomberg.
Yasser Salem, CEO of OneNYC, an independent expenditure committee that backs Mamdani, told Reuters in an interview that he is assembling an advisory council of business leaders to work with Mamdani if he prevails.
“We are highly focused on building specific instances and demonstrations of trust” with the business community, Salem said.
Representatives for Mamdani and Cuomo did not respond to requests for comment.
While the mayor of New York does not have direct oversight on Wall Street, the mayor sets the tone on whether the global heart of capitalism is perceived as business friendly. Governor Kathy Hochul in September endorsed Mamdani in an opinion piece in The New York Times, while saying that she wants to keep New York the center of the global economy.
Christina Greer, a political science professor at Fordham University in New York, noted that for tax hikes to be enacted Mamdani would have to work in conjunction with Albany, which must approve any city tax hikes.
“Whatever process will happen will be incredibly slow and may never actually affect” wealthy residents, said Greer.
RIPPLE EFFECTS THROUGH CITY
Real estate could see a ripple effect, with Mamdani pushing for a rent freeze on rent-stabilized apartments, a measure undertaken by former Mayor Bill de Blasio but reversed by the current outgoing mayor, Eric Adams.
A potential rent freeze has spooked many landlords and lenders, said Paul Rahimian, CEO of Parkview Financial, a Los Angeles real estate lender which has a New York City office. Rahimian said the firm was taking a “hold and see” attitude to extending new loans to real estate developers and projects in New York until after the election.
“There are a lot of landlords that are now no longer making money but whose properties are costing them money every year,” he said.
Isaac Toledano, founder and CEO of Miami-based real estate investment firm BH Group, said he anticipated that 2026 would be busy with relocations from New York to Florida if Mamdani wins.
“There are a lot of people that do not agree with what he’s going to do,” said Toledano.
Reporting by Anirban Sen, Tatiana Bautzer, Lananh Nguyen, Suzanne McGee; additional reporting by Maria Tsvetkova, Matt Tracy, Megan Davies; Writing by Megan Davies; Editing by Leslie Adler
Our Standards: The Thomson Reuters Trust Principles.
Continue Reading
World
Sombr Altercation at Brit Awards Was Staged, Rep Confirms
Sombr was mid-performance at the Brit Awards when a random man bumrushed the stage and pushed the singer off the platform, leaving him stunned — only it was all planned, says his rep.
The singer-songwriter, who was nominated for international artist and international song, was at the end of his smash single “Undressed” when a man joined him on the podium and shoved him hard. Security guards aggressively removed the man from the stage, and Sombr returned to the microphone to segue into his next song.
Shortly after the performance came to a close, Sombr’s rep confirmed to Variety that the whole thing was part of the act. Fans were already split online over whether the incident was staged or real. Naysayers noticed that the offender was wearing a shirt that read “Sombr is a homewrecker” — a nod to his latest single “Homewrecker,” which some claimed was a dead giveaway. But others weren’t necessarily convinced it was a stunt, considering how hard he was pushed and how additional security guards came to his rescue.
Brits host Jack Whitehall remarked on the incident after Sombr’s performance concluded. “Such a shame we didn’t have the security ready,” he said.
The incident took place just days after Britain’s BAFTA Awards last Sunday, when John Davidson, the Scottish Tourette’s syndrome activist and real-life inspiration for the film “I Swear,” disrupted that ceremony with an outburst of racial slurs that occurred as “Sinners” stars Michael B. Jordan and Delroy Lindo were onstage. “I can’t begin to explain how upset and distraught I have been as the impact from Sunday sinks in,” Davidson told Variety earlier this week.
Whitehall made a joking reference to that incident — which was not bleeped from the initial BAFTA broadcast and was audible to viewers — at the top of the Brits, saying “We’ve got the best in the business on the bleep button.”
Sombr is coming off a red-hot year that saw his various singles “Undressed,” “Back to Friends” and “12 to 12” impact the charts. He recently performed at the Grammy Awards, where he was nominated for best new artist alongside Addison Rae, Alex Warren, the Marías, Leon Thomas, Lola Young, Katseye and Olivia Dean, who ended up taking home the award.
World
Iran goes dark amid ‘regime paranoia’, blackout follows Israeli, US strikes on compound
NEWYou can now listen to Fox News articles!
Iran was plunged into an internet blackout Saturday after Israel and the U.S. launched military strikes around the country, according to a global internet monitor.
Within hours of the strikes — which officials said targeted infrastructure and killed dozens of senior regime figures at a compound in Tehran— NetBlocks CEO Alp Toker confirmed connectivity started “flatlining.”
“We’re tracking the ongoing blackout, but our assessment is that this is straight out of Iran’s wartime playbook and consistent both technically and strategically with what we saw during the 2025 Twelve-Day War with Israel,” Toker told Fox News Digital.
“Iran’s internet connectivity is now flatlining around the 1% level, so the original blackout the regime imposed during the morning has been consolidated,” he confirmed.
“The blackout was imposed just after 7:00 UTC, not long after the attack on the Iranian regime compound,” Toker clarified, adding that Iran had been largely offline for approximately 12 hours following the attack.
“At 06:10 UTC, there is the main compound strike; at 07:10 UTC, telecoms disruption starts; at 08:00 UTC, the blackout is largely in effect; and by 08:30 UTC, connectivity flatlines.”
“Wartime national blackouts are exceedingly rare around the world, and it’s something we’ve only really seen at this scale in Iran,” he said.
President Donald Trump monitors U.S. military operations in Iran following an Israeli strike in Tehran on Saturday, Feb. 28, 2026. (@WhiteHouse/X)
In the wake of the attack, dubbed Operation Epic Fury, President Donald Trump said on Truth Social that the “heavy and pinpoint” bombing in Iran “will continue uninterrupted throughout the week or as long as necessary to achieve our objective of PEACE THROUGHOUT THE MIDDLE EAST AND, INDEED, THE WORLD!”
He claimed Iranian security forces and members of the regime’s powerful Islamic Revolutionary Guard Corps were already seeking immunity. He urged them to “peacefully merge with the Iranian Patriots.”
“We are hearing that many of their IRGC, Military, and other Security and Police Forces no longer want to fight and are looking for Immunity from us,” Trump said in the post. “As I said last night, ‘Now they can have Immunity; later they only get Death!’”
Toker argued the timing of the blackout suggested it was imposed deliberately as the regime sought to secure communications amid fears of further targeting.
TRUMP TELLS IRANIANS THE ‘HOUR OF YOUR FREEDOM IS AT HAND’ AS US-ISRAEL LAUNCH STRIKES AGAINST IRAN
TEHRAN, IRAN – FEBRUARY 28: Smoke rises over the city center after an Israeli army launches 2nd wave of airstrikes on Iran on February 28, 2026. (Photo by Fatemeh Bahrami/Anadolu via Getty Images) (Fatemeh Bahrami/Anadolu via Getty Images)
“The Iranian regime will have deployed this new blackout to counter potential cyberattacks during their own military operation, but also to avoid leaking the locations of senior regime figures through metadata and user-generated content,” he said.
“Communications would have been limited, and Iran’s leadership would have proceeded with the assumption that all communications, including satellite or whitelisted networks, carry risks,” he said before claiming that “paranoia would be well grounded at this point, with the blackout a belated but direct response to that.”
“Those participating directly would already know to avoid technology that could betray their whereabouts,” Toker said.
“However, the metadata may well have played a part in determining that the meeting of regime leaders was being held at the Tehran compound, who was in attendance, and at what time.”
DID THEY GET HIM? KHAMENEI’S FATE REMAINS UNKNOWN AFTER ISRAEL-US STRIKE LEVELS HIS COMPOUND
In this handout image provided by the Office of the Supreme Leader of Iran, Iranian Supreme Leader Ali Khamenei addresses the nation in a state television broadcast on June 18, 2025 in Tehran, Iran. (Office of the Supreme Leader of Iran via Getty Images)
Toker revealed that the broader network around the regime leaders and around the compound wouldn’t have had the same strict restrictions.
“This kind of adjacent ‘background noise’ can be correlated against other intelligence sources to build an understanding of activity on the ground,” he added.
“Smartphones are a readily available, almost ‘free’ source of intelligence, and even when locked down, they eventually connect to international online services and generate insights that can be used to pinpoint regime figures,” Toker said.
CLICK HERE TO DOWNLOAD THE FOX NEWS APP
“In the aftermath of Saturday’s strike, this concern will have been high on the remaining Iranian leadership’s minds, especially if they didn’t have a clear and specific understanding of how the meeting was compromised.”
Iran has previously imposed sweeping internet shutdowns during periods of domestic unrest, including nationwide protests in January, which saw thousands killed, often seeking to curb the spread of information and restrict coordination.
World
Activists hail ‘historic’ EU’s decision on accessible abortion
Women’s rights groups and activists hailed the European Commission’s decision on accessible abortion across Europe, calling it a “historic” move for women’s rights and European democracy.
ADVERTISEMENT
ADVERTISEMENT
The move marks an unusual step taken by the European Union, as healthcare policy is typically determined at a national level.
On Thursday, the European Commission confirmed member states can use an EU social fund to provide access to safe and legal abortion for women who are barred from doing so in their home country.
Member states can make use of the bloc’s existing European Social Fund Plus (ESF+), which contributes to social, education, employment and healthcare policies, voluntarily and in accordance with their domestic laws to provide such support.
“We were very aware of the competence that the European Union has in this area, which is restricted,” Europe’s Associate Director for the Center for Reproductive Rights Katrine Thomasen told Euronews, pointing to the fact that the bloc can support, coordinate or supplement the actions of members states, but cannot impede on national laws, such as healthcare policies.
The Commission stopped short of creating a new funding mechanism, which was requested by the European Parliament in a non-binding resolution adopted in December.
Critics argued that by declining to establish a dedicated fund and instead referring to an existing one, the EU was effectively failing to act and rejecting the proposal.
However, women’s rights organisations say the decision affirms that the EU has the competence to act on sexual and reproductive heath and creates a pathway towards accessible abortion.
“It was previously not clear that member states could use EU funding to provide abortion care to women facing barriers,” Thomasen said, “the Commission’s decision is really the first time that it is affirming and deciding that EU funds can be used in this way”.
Member states that wish to benefit from the ESF+ to offer accessible abortion services will now need to establish programmes and define how patients can benefit from it.
‘My Voice, My Choice’
The Commission’s decision came in response to a call made by the citizens’ initiative “My Voice, My Choice” for the creation of an EU solidarity mechanism to guarantee safe and affordable access to abortion for all women.
“My Voice, My Choice” is a European Citizens’ Initiative (ECI), a mechanism that allows citizens to call on the European Commission to propose new legislation.
If an initiative gets the support of at least one million people across at least seven EU countries, it must be discussed by the European Parliament, while the European Commission has a timeframe to either set out legislative measures or provide justification for not doing so.
“My Voice, My Choice” collected 1,124,513 signatures across all 27 countries.
“My Voice, My Choice started on the streets, it started with a group of women who had had enough that women are secondary citizens,” the initiative’s coordinator Nika Kovač told Euronews.
“We decided to take action and we brought something to the table. We brought our own chair to the places where we usually don’t have the chairs,” Kovač added.
The movement gained cross-border momentum, with women’s rights activists mobilising across Europe. With over one million followers on Instagram, “My Voice, My Choice” also built a strong online presence.
Dutch journalist Belle de Jong campaigned for the initiative in Malta, where abortion remains criminalised and heavily restricted. She described the challenges of organising on the ground, noting that many women were reluctant to take to the streets because of stigma and fear of legal consequences.
De Jong told Euronews that the campaign’s success in Malta was largely because it was online, “so people didn’t have to go out into the streets or show their face,” she said, adding that she collected more than 4,000 signatures for Malta, more than double she expected.
“Thanks to My Voice, My Choice, we no longer have an excuse to prosecute women for accessing healthcare, because we’re paying for them to go abroad with this EU mechanism. So it really begs the question: when are we going to decriminalise it? That will be our next fight in Malta,” she added.
The decision sparked a range of reactions from politicians
Several members of the European Parliament have expressed satisfaction after the Commission’s statements.
“For the first time the Commission has confirmed that countries can use EU funds to support access to abortion care. This is a victory for European women”, said Slovenian Socialist MEP Matjaž Nemec, who penned a letter to the Commission ahead of the decision.
Valérie Hayer, President of Renew Europe, said the decision “marked real progress for women’s rights,” underlining that the Commission had never before stated so clearly that EU funding can support access to safe abortion.
Other MEP’s, including Emma Fourreau from the Left group and French MEP Mélissa Camara from the Greens/EFA group considered the move a step forward, but would have liked to see a dedicated budget.
On the other side, far-right Spanish party Vox claimed that the Commission has rejected the “My Voice, My Choice” initiative, as there will be no specific fund to finance abortions abroad. “The Commission is just trying to politically save the initiative by pointing out existing instruments,” a press release from the party states.
The Italian anti-abortion association “Pro Vita & Famiglia” (Pro Life and Family) also considered that the initiative was rejected, while criticising its opening up to the use of ESF+ money to finance reproductive healthcare. “We ask the Italian government not to use this money to promote abortions”, said spokesperson Maria Rachele Ruiu.
Abortion policies across the European Union
Some EU countries have highly restrictive laws on abortion rights. A total ban is in force in Malta, where abortion is not allowed under any circumstances, while in Poland it is permitted only when conception follows sexual violence or when there is a risk to the woman’s health.
In January 2021, the Polish Constitutional Tribunal banned abortions in cases of fetal malformation, which until then had been the most frequent reason for terminating pregnancies in the country.
Several EU countries have taken steps to guarantee the right to safe abortions. France, for instance, made it a constitutional right, while Luxembourg and the Netherlands have removed mandatory waiting periods.
Sweden, France, and the Netherlands rank best in the European Union for abortion rights, according to the European Abortion Policies Atlas 2025. Malta and Poland remain at the bottom of the ranking, along with Andorra, Liechtenstein and Monaco.
Some countries have more relaxed laws, but they lack legal protections that fully decriminalise abortion, wide service availability, national health coverage, or government-led information on the matter.
Other member states have recorded new restrictions, increased harassment of abortion providers, and the spread of disinformation on the topic.
-
World3 days agoExclusive: DeepSeek withholds latest AI model from US chipmakers including Nvidia, sources say
-
Massachusetts4 days agoMother and daughter injured in Taunton house explosion
-
Montana1 week ago2026 MHSA Montana Wrestling State Championship Brackets And Results – FloWrestling
-
Louisiana6 days agoWildfire near Gum Swamp Road in Livingston Parish now under control; more than 200 acres burned
-
Denver, CO3 days ago10 acres charred, 5 injured in Thornton grass fire, evacuation orders lifted
-
Technology1 week agoYouTube TV billing scam emails are hitting inboxes
-
Technology1 week agoStellantis is in a crisis of its own making
-
Politics1 week agoOpenAI didn’t contact police despite employees flagging mass shooter’s concerning chatbot interactions: REPORT