Las Vegas-based Wynn Resorts on Wednesday announced the departure of two members of its board of directors as lawsuits against its members and the company’s founder continued to pile up amid a sexual misconduct scandal. The announcement of the board changes came hours after the state of Oregon revealed it had sued gambling mogul Steve…
The company, known as SixCap, was placed into insolvent liquidation last month in the British Virgin Islands where it’s incorporated, according to a statement dated Feb. 26 from appointed liquidator Baker Tilly. Investors and creditors were told they’re collectively owed more than $143 million, according to a Wednesday report by Singaporean newspaper The Business Times.…
Kena Betancur | Getty Images woman holds an umbrella as snow falls on March 7, 2018 in Hoboken, New Jersey. This is the second nor’easter to hit the area within a week and is expected to bring heavy snowfall and winds, raising fears of another round of electrical outages. The second major storm in less…
Kroger on Thursday reported fourth-quarter earnings in-line with analysts’ estimates but issued a disappointing profit outlook for 2018. Its shares plummeted more than 11 percent in early trading following the news. Net income for the fourth quarter totaled $854 million, or 96 cents a share, compared with $506 million, or 53 cents a share, a…
Check out which companies are making headlines before the bell: Cigna — The U.S. health insurer announced plans to buy pharmacy benefit manager Express Scripts in a $67 billion cash-and-stock deal, which includes Cigna taking on about $15 billion in debt. Cigna would find a new partner in Express Scripts, after antitrust regulators last year…
American Eagle Outfitters‘ sales at established stores topped analysts’ estimates for the holiday shopping quarter, helped by robust demand for its Aerie line of lingerie. The company’s comparable sales rose 8 percent in the fourth quarter ended Feb. 3, beating analysts’ average estimate of a 7.34 percent rise, according to Thomson Reuters I/B/E/S. Net income…
Bitcoin fell again Thursday, bringing its two-day losses to more than 18 percent, after news of increased regulatory scrutiny of cryptocurrency exchanges. The cryptocurrency hit a high of $11,432 Tuesday but had fallen 18.4 percent to near $9,319 as of 3:34 p.m., according to CoinDesk’s bitcoin price index. Earlier Thursday, bitcoin’s losses suddenly accelerated and…
Netflix CEO Reed Hastings said the company will see $15 billion in revenue in 2018, according to a report from USA Today. The streaming giant posted $11.7 billion in revenue for 2017 and has not previously issued full-year revenue guidance for 2018. The company had only issued guidance for operating margin, which it claims as…
The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Yandex. Karen Finerman was a seller of Dollar Tree. David Seaburg was a buyer of Ethereum. Guy Adami was a buyer of Advanced Micro Devices. Trader disclosure: On March 7, 2018, the following stocks and commodities mentioned…
A million dollars doesn’t buy what it used to — especially when it comes to luxury real estate. The Wealth Report, from London-based real estate brokerage Knight Frank, measured the top markets in the world and compared how much prime property $1 million would buy in each. Monaco still reigns as the most expensive for…
At last count — the total was revised upward by 2.4 million last week — as many as 147.9 million consumers were affected by the cyberattack at Equifax, which was revealed last September. The personal information compromised in the breach include names, birth dates, Social Security numbers, addresses and some driver’s license numbers. The congressional…
Getty Images President Donald Trump and National Economic Council Director Gary Cohn affirm their support for each other at Camp David on January 6, 2018 in Thurmont, Maryland. President Donald Trump said on Thursday White House chief economic advisor Gary Cohn’s departure from his administration may be temporary. “This is Gary Cohn’s last meeting of…
An hour before you plan to sleep, make a physical list of the problems at work that are causing you stress, said Dr. Chris Winter, author of “The Sleep Solution: Why Your Sleep is Broken and How to Fix It.” “Most people’s fears are out of their control and somewhat irrational. Technically, we’re all in…
Lamborghini’s high-powered, hyper-priced SUV is selling better than expected, with most of the buyers new to the Lamborghini brand, according to the company’s CEO. In an interview with CNBC, Lamborghini CEO, Stefano Domenicali, said that sales and orders for the Lamborghini Urus, which starts at $200,000 but usually sells for $240,000 or more with options,…
Paul J. Richards | AFP | Getty Images Students pull a mock ‘ball & chain’ representing the $1.4 trilling outstanding student debt at Washington University in St. Louis, Missouri. Student loan borrowers could get some wiggle room when it comes to repaying private loans, thanks to two new proposals in the Senate banking bill. The…
A recent Powerball winner discovered the hard way that trying to remain anonymous after hitting a huge jackpot takes some advance planning. Known only as Jane Doe, the New Hampshire woman who won $559.7 million in the Jan. 6 Powerball drawing collected her after-tax winnings of $264 million on Wednesday. However, whether she can maintain…
David Stockman is delivering a fresh round of Wall Street warnings. Even though the markets have been battling back from the Feb. 2 correction, President Ronald Reagan’s OMB director warns the market has hit an inflection point. “The market is whistling past the graveyard. Trading at 26 times earnings at the top of the business…
Jessica Rinaldi | The Boston Globe | Getty Images Steve Wynn speaks to reporters about a planned casino in Everett during a press conference on March 15, 2016. Wynn Resorts said Thursday that it has settled with Universal Entertainment and Aruze USA. As part of the agreement, Wynn said it will pay $1.94 billion, the…
By contrast, a “naive mind” can achieve what an experienced professional never will, Ghinsberg, who is in his late 50s, said. “A professional knows what’s impossible. If you know it’s impossible, it is impossible. But if you don’t know it’s impossible, suddenly it is possible,” he said. “That clean mind, that naivety, is a huge…
Lintao Zhang | Getty Images Zhou Xiaochuan, governor of the People’s Bank of China, speaks during a press conference at the media center on March 10, 2017 in Beijing, China. China has moved away from its old growth model which was heavily reliant on investment and will rely less on stimulus to boost the economy…