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New York City collected $48.6 million in revenue from the first month of its congestion pricing program that the Trump administration has moved to kill, a transit agency said. The Metropolitan Transportation Authority (MTA) said on Monday that in January the program reduced congestion and raised $48.6 million with $11.1 million in expenses and net operating revenue of $37.5 million. New York Governor Kathy Hochul met with President Donald Trump on Friday to make the case for the congestion pricing program. Under the program, which launched on January 5, most passenger vehicles are charged $9 during peak periods to enter Manhattan south of 60th Street. Trucks and buses pay up to $21.60. The fee is reduced by 75% at night. The MTA, which has issued $900 million in debt for the congestion system infrastructure costs and capital projects, projected Monday it is on track to raise $500 million in net revenue the first year, noting it only collected revenue for 27 days in January. In total, 68% of revenue came from passenger vehicles, 22% taxis and ride share vehicles, 9% from trucks and 1% motorcycles and buses. The MTA sued last week seeking to block Trump’s effort to terminate the program. Hochul has said that funds raised from the program would underpin $15 billion in debt financing for mass transit capital improvements. The program was approved in the final months of former President Joe Biden’s administration. Charged via electronic license plate readers, private cars pay once a day regardless of how many trips they make into the central business district. A few other cities have implemented congestion pricing systems. London, which began its system in 2003, now charges 15 pounds ($18.70). Singapore and Sweden also have congestion pricing plans. Before the fee, New York said more than 700,000 vehicles entered the Manhattan central business district daily, slowing traffic to around 7 miles per hour (11 kph) on average, which is 23% slower than in 2010. David Shepardson, Reuters
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E-Commerce
As Fashion Week takes over New York, London, and Milan, designers arent just showcasing their collections on the runwaythey’re taking over LinkedIn. The job-seeking platform reports a fivefold increase in live fashion show broadcasts over the past three years, with 85% of luxury brands turning to the professional social network to reach those with money to spend. LVMH and Louis Vuitton set the trend in 2019, making live fashion shows on LinkedIn the core of their engagement strategy. The move quickly paid off. After unveiling a new mens collection in Shanghai, the brand drew nearly a million potential luxury buyers in just three days. Soon fashion powerhouses like Herms, Dior, Prada, and Balenciaga followed suit, bringing high fashion to the professional network. Since then, LinkedIn has proven to be an essential marketing tool for meeting high-net-worth clients where they are at. After all, every successful professional comes with purchasing power. With over one billion members, more than 30% of LinkedIn users are interested in fashion, a much higher figure than on other social networks. LinkedIn data also reveals that 67% of luxury purchases happen after a career promotion or job change. Brands can tap into these pivotal moments using the platforms Career Changers feature, which identifies users in professional transition, right when theyre most likely to splurge. Fashion is deeply tied to self-expression, and on LinkedIn, where professional identity plays a key role, luxury brands have the opportunity to engage with their audiences in a way that feels relevant, whether its dressing for a leadership role, investing in timeless pieces, or aligning with a particular lifestyle, Stephanie Barret, head of luxury at LinkedIn, tells Fast Company. Unlike mainstream social media, where fashion content competes with a wide range of entertainment-driven content, LinkedIn offers a focused, high-quality environment where professionals engage with premium storytelling. Beyond its corporate roots, the networking platform is adapting to offer services that go further than simple job searches. Features like Live Event Ads enable brands to engage audiences before, during, and after major fashion shows. Additionally, luxury brands looking for ways to promote their content from members or influencers can make use of LinkedIns Thought Leader Ads, generating 2.3 times more clicks than traditional ads. LinkedIns efforts are paying off. A study by influence management platform AmazingContent reveals LinkedIn as the preferred platform by luxury leaders 70% of luxury content engagement is on LinkedIn (compared to 20% on Instagram and 10% on X). At the core, success on LinkedIn is about narrative-driven engagementusing livestreams, industry voices, and interactive content to showcase craftsmanship, heritage, and innovation in a way that resonates with high-intent consumers, says Barret. By tapping into LinkedIns professional audience, brands can align their messaging with key career moments, ensuring they reach people at times when they are naturally inclined to invest in luxury.
Category:
E-Commerce
Apple shareholders on Tuesday are expected to reject an attempt to pressure the technology trendsetter into scrapping its corporate programs designed to diversify its workforce.The proposal drafted by the National Center for Public Policy Researcha self-described conservative think tankurges Apple to follow a litany of high-profile companies that have retreated from diversity, equity, and inclusion initiatives currently in the crosshairs of President Donald Trump.It comes a month after the same group presented a similar proposal during Costco’s annual meeting, only to have it overwhelmingly rejected. A similar outcome is expected during Apple’s annual meeting despite the strident objections of critics.Just as Costco does, Apple has steadfastly stood behind diversity and inclusion efforts that its management contends good business sense.But the National Center for Public Policy Research’s proposal has attacked Apple’s diversity commitments for being out of line with recent court rulings and said the programs expose the Cupertino, California, company to an onslaught of potential lawsuits for alleged discrimination. The group estimated about 50,000 Apple employees could file cases against Apple without detailing how it arrived at that figure.“It’s clear that DEI poses litigation, reputational and financial risks to companies, and therefore financial risks to their shareholders, and therefore further risks to companies for not abiding by their fiduciary duties,” the National Center for Public Policy Research says in its proposal.The specter of potential legal trouble was magnified last week when Florida Attorney General James Uthmeier filed a federal lawsuit against Target alleging the retailer’s recently scaled-back DEI program alienated many consumers and undercut sales to the detriment of shareholders.In its rebuttal to the anti-DEI proposal, Apple said its program is an integral part of a culture that has helped elevate the company to its current market value of $3.7 trilliongreater than any other business in the world.“We believe that how we conduct ourselves is as critical to Apple’s success as making the best products in the world,” the company said in its statement against the proposal. “We seek to conduct business ethically, honestly, and in compliance with applicable laws and regulations.”In its last diversity and inclusion report issued in 2022, Apple disclosed nearly that three-fourths of its global workforce consisted of white and Asian employees. Nearly two-thirds of its employees at that juncture were men.Other major technology companies for years have reported employing mostly white and Asian men, especially in high-paid engineering jobsa tendency that spurred the industry to pursue what have been largely unsuccessful efforts to diversify. Michael Liedtke, AP Technology Writer
Category:
E-Commerce
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