Business News

Cosmopolitan Names New CEO

Posted: 12/17/2014 - The Cosmopolitan on the Las Vegas Strip is hiring William McBeath to be the hotel-casino's new president and CEO after the property's $1.73 billion sale to Blackstone Group is complete.

Stocks Jump as Fed Promises Patient Approach

Updated: 12/17/2014 - The U.S. stock market had its best day in more than a year after the Federal Reserve said it would to remain "patient" in its approach to raising interest rates.

Lower Gas Prices-Winners/Losers

Updated: 12/16/2014 - The cost of gasoline continues to drop. That no doubt means more money in your pocket just in time for the holidays. The trend should continue. The market closed December 16 with the price for a barrel of oil at $55.
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Apple Wins Class-Action iPod Trial

Posted: 12/16/2014 - After just a few hours of deliberation, a jury in California has found in favor of Apple in a billion-dollar class-action lawsuit over the price of its iPod music players.

Caesars Misses $225 Million Interest Payment

Posted: 12/15/2014 - Caesars Entertainment Corp. officials say they won't make a $225 million interest payment due Monday on some of its debt as the company keeps negotiating with senior bondholders to restructure the company's finances.

Bank Of Russia Hikes Rate To Aid Sinking Currency

Posted: 12/15/2014 - The Bank of Russia has drastically raised its key interest rate to 17 percent from 10.5 percent to try to boost its currency, which has been plunging along with oil prices.

Sony Threatens To Sue For Publishing Stolen Emails

Posted: 12/15/2014 - A lawyer representing Sony Pictures Entertainment is warning news organizations not to publish details of company files leaked by hackers in one of the largest digital breaches ever against an American company.

Agreement to Sell Rancharrah Nears

Updated: 12/15/2014 - An agreement to purchase the prominent Harrah family estate Rancharrah is being discussed and preliminary development plans are being reviewed by the Reno Planning Department.
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More Business News

Economic News

  • Fed Sets Stage for Rate Hikes in 2015
    The Federal Reserve took a delicate step toward raising short-term interest rates in 2015, but at the same time exposed its skittishness about signaling a historic move away from easy-money policies in place since the global financial crisis.
  • Ruble Volatile Despite Intervention
    The ruble strengthened in afternoon trading after Russia’s central bank announced measures to shore up the country’s banks following another volatile day for the currency.
  • Home Building Faltered in November, but Broader Trends Point Up
    Housing starts fell 1.6% in November, the latest sign of an uneven housing recovery.
  • Ukraine Aims to Pass Budget Cuts, Reforms
    Ukraine’s government will pass fresh budget cuts and economic overhauls in the coming weeks in a bid to secure a broad new package of international assistance, the country’s new finance minister said.
  • U.S. Industrial Production Surpasses Prerecession Peak
    U.S. manufacturing output climbed past its prerecession peak this fall, suggesting the American economy is on solid footing despite growing signs of weakness abroad.
  • Russia Moves to Help Lift Sinking Ruble
    A spiraling currency crisis, fueled by the bite of Western sanctions and the plummeting price of oil, spurred Russia’s central bank to raise interest rates late Monday, a drastic move aimed at shoring up the collapsing ruble.

US Business News

  • Sony Pulls Korea Film; U.S. Blames Pyongyang For Hack
    Sony Pictures canceled the planned release of “The Interview” after hackers threatened violence against theaters. U.S. officials concluded North Korea was behind the broad cyberattack on the firm.
  • Fears Spread of Sony-Style Hack
    Damaging revelations from the computer assault on Sony are playing like a horror movie in executive suites, prompting companies to review security measures and reconsider what is said in an email.
  • Ports Crisis Brings Commerce to Crawl
    Tommy Bahama and other retailers are a casualty of congestion snarling ports on the West Coast. The logjam in part stems from labor negotiations between port employers and workers.
  • Xavier Niel to Buy Orange Switzerland
    France’s Xavier Niel has agreed to buy Orange Switzerland from Apax Partners in a deal worth $2.8 billion, as the French technology entrepreneur continues to expand his telecom assets across Europe.
  • AbbVie Pins Hopes on Hepatitis C Treatment
    AbbVie is hoping for regulatory approval this month of its first significant new drug product in a decade: a multidrug regimen for the liver disease hepatitis C. AbbVie currently relies on just one drug to generate 63% of its revenue: the anti-inflammatory drug Humira.
  • Playing the Tax 'Audit Lottery'
    Buried in U.S. companies’ securities filings is an indicator for how aggressively they are working to shield their income from the IRS and other tax authorities.
  • EU Considers Uber's Request to Block French Taxi Law
    The EU is considering Uber’s latest legal maneuver to block a new French law that could upend how the company operates.
  • German Business More Bullish
    German business confidence improved for the second consecutive month, a key indicator showed, as the eurozone’s largest economy benefits from lower oil prices and a weaker euro.
  • ABB Board Proposes Peter Voser as Chairman
    Swiss industrial giant ABB said its board has proposed Peter Voser, the former chief executive of Royal Dutch Shell, to become the company’s next chairman.
  • Sony Pictures Running the Show
    Sony Pictures’ struggles with hackers over the movie “The Interview” has demonstrated the movie studio’s relative independence from Sony headquarters in Tokyo.
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