New York Mayor Zohran Mamdani announced the creation of a Business Advisory Council bringing together 15 business leaders, including CEOs from Chobani, Etsy, RXR and the New York Liberty. Several major financial and tech companies, including JPMorgan Chase, Citigroup, American Express, BlackRock, Meta and Alphabet, declined to join, revealing persistent tensions between the socialist-democratic mayor and parts of the business community. The mayor’s economic agenda, including rent freezes, free buses and higher taxes on corporations and wealthy New Yorkers, has fueled business reservations. The council will meet quarterly with the mayor and Deputy Mayor for Economic Justice Julie Su to advise on finance, technology, real estate, entertainment and healthcare. The New York economy shows strength with 4.85 million jobs in July, near a record high, and an unemployment rate of 5%.
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