- Caesars Entertainment officials say the casino giant's debt-heavy operations arm will file bankruptcy in mid-January to reorganize its finances now that the company has the OK from some creditors for a financial fix to shed about $10 billion in debt.
- The nightlife mogul who opened the SLS Las Vegas hotel and casino on the Strip has won a gambling license from Nevada regulators after intense scrutiny into his past business dealings and drug use.
- The Cosmopolitan hotel and casino will have a new owner as state regulators cleared the way for Deutsche Bank AG to sell the Las Vegas Strip resort to a division of the Blackstone Group for $1.73 billion.
China Boosts 2013 GDP Statistics China announced Friday that world’s second largest economy was 3.4% larger than previously thought last year—chiefly due to a more accurate counting of services and their impact on economic output.
Two Fed Dissenters Air Opposing Views The presidents of the Minneapolis and Philadelphia regional Fed banks both dissented for different reasons at the central bank’s policy meeting Wednesday and on Friday elaborated on their dovish and hawkish rationale.
Putin Strikes Harsh Tone With West Vladimir Putin said Russia’s economic troubles will pass in no more than two years, and accused the West of seeking to subdue and disarm the country.
Oil Plunge Brings Jitters to Texas City Corpus Christi has ridden a rocket of a rebirth in recent years, propelled by a more than 30-fold increase in oil production at the nearby Eagle Ford Shale. But lower oil prices are taking a toll.
Fed Sets Stage for Rate Hikes 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.
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.
US Business News
Sony Hack Forces Firms to Rethink Email Devastating leaks from Sony’s computer systems have dramatized the risks of storing corporate email for extended periods. Some people in Silicon Valley wonder if it is time to rethink that practice.
Car Safety Gear Cuts Traffic Deaths Deaths in U.S. car crashes have fallen by about a quarter in the last decade, new federal data show, as safety features in newer models have powered a drop in fatalities even as auto-safety recalls have surged.
Google Seeks Partners for Self-Driving Car The head of Google’s autonomous-vehicle project said the company is looking for auto industry partners to bring its vision of a self-driving car to market within the next five years.
Thomas Kwok Found Guilty of Corruption A jury in Hong Kong found Thomas Kwok, the co-chairman of one of Hong Kong’s biggest property developers, guilty in a corruption trial involving the city’s former No. 2 official, but found his brother, Raymond, not guilty.
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