MGM Resorts International said Friday it is sending separation letters to 18,000 previously furloughed employees throughout the United States, making their job cuts permanent for now. MGM’s Empire City remains closed in New York state, as does its Park MGM in Las Vegas. Casinos in Las Vegas, where MGM has an outsized presence on the Strip, continue
Month: August 2020
Pedestrians are reflected in the window of an Abercrombie & Fitch store in New York. Craig Warga | Bloomberg | Getty Images Abercrombie & Fitch shares are soaring after the apparel retailer reported a surprise quarterly profit Thursday morning and impressive online revenue growth of 56% during the coronavirus pandemic. Its stock was recently trading up
An employee demonstrates the Wirecard AG online payment smartphone app on the company’s exhibition stand at the Noah Technology Conference in Berlin, Germany, on Thursday, June 13, 2019. Krisztian Bocsi | Bloomberg via Getty Images Wirecard Card Solutions, the U.K. unit of disgraced German payments company Wirecard, has announced it will sell some assets to
President Donald Trump has known billionaire Ronald Lauder for close to 50 years. Yet, even as the president is down in the polls, the heir of Estée Lauder Companies has been virtually silent on whether he will assist Trump in his re-election effort this year. Lauder, who has a net-worth of just under $5 billion
It’s been a great August, up 6% for the S&P 500, the best August since 1986. But then again, it was a great July. And a great June. May was pretty good, too, and April was downright eye-popping. The Summer Rally (S&P 500 Monthly Returns) April: up 12.7% May: up 4.5% June: up 1.8% July:
With three months until the 2020 U.S. presidential election, a national poll finds that more than one-third of likely voters have a dismal view of their finances — and a bleak outlook for employment, wages, job security and health care. Of the more than 2,300 likely voters in the most recent CNBC and Change Research‘s States
WASHINGTON, DC – AUGUST 22: U.S. Speaker of the House Nancy Pelosi (D-CA) speaks to reporters at … [+] her weekly press conference at the Capitol on August 22, 2020 in Washington, DC. The House was called back from recess to vote on H.R. 8015 Delivering for America Act to allocate funding to the US
In the land of the IRS, which is nowhere near as appealing as the Land of Oz, much of the correspondence sent to taxpayers implicates a significant taxpayer right that can only be exercised on time. Taxpayers who are afraid to open IRS mail and therefore delay doing so – or even worse, never do
The new FICO Resilience Score is based on a scale of 1-99 getty There’s a new risk measurement entering the world of credit lending and this one isn’t based on your past payment history. Called the FICO® Resilience Index (FRI), this score aims to predict which consumers are more likely to default on payments during
The Henry Ford II World Center, headquarters of the Ford Motor Company in Dearborn, Michigan. James Leynse | Corbis | Getty Images DETROIT — Ford Motor remains under federal investigation as part of a multi-year corruption probe into the United Auto Workers union, according to the lead prosecutor on the investigation. U.S. Attorney Matthew Schneider told CNBC that
Aneel Bhusri at the 2016 World Economic Forum in Davos, Switzerland. David A. Grogan | CNBC Workday shares rose as much as 13% in extended trading on Thursday after the cloud software company reported better-than-expected quarterly revenue and earnings. The company also said Chano Fernandez is being promoted from co-president to co-CEO, operating alongside Aneel
If I may be so bold as to simplify Jerome Powell’s Jackson Hole speech from this morning: There is no longer any empirical evidence that would suggest that full employment is, in and of itself, a cause of rising inflation. In many ways, this is the Fed’s somewhat belated acknowledgement that the type of wage-price
Tiger selfies in Thailand, donkeys buckling beneath heavy riders in Greece, guests doing yoga atop elephants at a luxury resort — these instances, and others, were the impetus behind new animal tourism guidelines published last week by adventure travel company, Intrepid Travel, and the global animal welfare organization, World Animal Protection. The Animal Welfare Policy Toolkit says
In a major policy pivot, the Federal Reserve said it will allow inflation to run “hotter than normal” to help the economy bounce back from the coronavirus crisis. That means the Fed will be less inclined to hike interest rates, letting borrowers benefit from cheap money for an extended period of time. “This kind of
getty Earlier this week, the Social Security Administration’s chief actuary reported, in response to a question by Senate Democrats Chuck Schumer, Bernie Sanders, and Ron Wyden, that, if the dedicated payroll taxes to fund Social Security were removed with no replacement income source, the Disability Insurance Trust Fund would be depleted in the middle of
Eligible for trader tax status Shutterstock There are tax advantages for traders who are eligible for trader tax status (TTS). Learn how to qualify for TTS; no election is required. Automated trading systems can qualify for TTS, providing the trader is significantly involved with the creation. Trade copying software might not be eligible. Learn how
Hospital design experts Bryan Langlands and Teri Oelrich explains how healthcare facilities can make creative use of their spaces in order to reduce the social isolation felt by healthcare workers and patients. To reduce the number of times a patient’s room door is opened and the amount of personal protective … [+] equipment required, nurses
Men wearing face masks walk past a Gap store at a shopping area, as the country is hit by an outbreak of the new coronavirus, in Beijing, China February 7, 2020. Jason Lee | Reuters The apparel maker Gap Inc. pivoted its supply chain early on in the coronavirus pandemic to make face masks. And
Gap Inc. said Thursday its total sales tumbled 18% during the latest quarter, as e-commerce revenue surged 95% from a year ago, but those gains were offset by a 48% drop in store sales during the coronavirus pandemic. It swung to a net loss from a year ago, as the lower sales combined with additional shipping
Futures tied to major U.S. equity benchmarks were flat in overnight trading on Thursday as Wall Street attempts to build on its record-breaking rally. The Dow Jones Industrial Average futures gained just 30 points. The S&P 500 futures and the Nasdaq 100 futures were both little changed. The S&P 500 reached a new all-time high
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