Business News

Caesars To File Bankruptcy In January

Posted: 12/19/2014 - 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.

T-Mobile Paying Up to $90M for Cramming

Posted: 12/19/2014 - T-Mobile US will pay up to $90 million, mostly in refunds, for billing customers for cellphone text services they didn't order, under a settlement with federal regulators.

Dog Rehab Center Expanding New Facility

Posted: 12/19/2014 - A rehab center for dogs has big plans for its new facility in Washoe Valley, but need help from the community in getting it done.
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Ice Cream Economics

Updated: 12/19/2014 - A local family thinks their ice cream sandwiches will be the next big thing in Midtown.
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Hotelier Wins Gambling License

Posted: 12/18/2014 - 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.

State Okays Cosmopolitan's $1.73B Sale

Posted: 12/18/2014 - 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.

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Economic News

  • 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.
  • For Cuba, Few See Rapid Change, Especially in Economy
    The U.S. moves will provide badly needed economic relief, but larger improvements will be gradual and political developments may take even longer.
  • 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.
  • Dollar Gains Against Major Currencies
    The dollar rose against other major currencies Thursday, as investors were encouraged by the Federal Reserve’s latest comments.
  • 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.
  • Staples: Data Breach Exposes Million Cards
    Staples said criminals stole personal information from as many as 1.16 million payment cards during the back-to-school shopping season from stores across the country.
  • FDA Backs AbbVie's Hepatitis Treatment
    U.S. regulators on Friday approved AbbVie’s new multidrug regimen for hepatitis C, and the company priced it below rival treatments from Gilead Sciences.
  • Trump Taj Mahal Expected to Remain Open, for Now
    The endangered Trump Taj Mahal in Atlantic City, N.J., is expected to remain open through the weekend while lawyers work to complete a $20 million lifeline from billionaire Carl Icahn.
  • 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.
  • St. Croix Refinery to Stay Closed After Vote
    The mothballed refinery on St. Croix will stay closed after the U.S. Virgin Island’s Legislature voted overwhelmingly against letting a new owner take over the plant.
  • FDA Approves Cubist's Experimental Antibiotic Zerbaxa
    Cubist Pharmaceuticals’ experimental antibiotic Zerbaxa has been approved by the U.S. Food and Drug Administration for treatment of certain urinary tract infections and intra-abdominal infections.
  • Google Sues Mississippi Over Campaign to Restrict Searches
    Google Inc. sued Mississippi Attorney General Jim Hood on Friday, seeking to prevent him from enforcing a wide-ranging subpoena that has become entangled in a dispute between Google and Hollywood.
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