Money

China charges casino giant's staff with gambling offenses

Steve Wynn bets billions on Macau A major casino operator’s bust-up with Beijing just took a turn for the worse. Australian company Crown Resorts said Tuesday that a group of its employees have been charged with offenses related to the promotion of gambling. The Crown staff members and their families have faced months of uncertainty after Chinese authorities detained the employees in October. Among them were senior managers, including Jason O’Connor, executive vice president of Crown’s VIP International unit. O’Connor’s business was focused onhigh-rolling gamblers, a sensitive area in China ...

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Are public pensions a thing of the past for young workers?

The steady path to a dream retirement New teachers and state workers will no longer get a traditional pension in Pennsylvania. Governor Tom Wolf signed a bill Monday, making it the ninth stateto replace the pension with a “hybrid” retirement plan. It goes into effect in 2019. The new plan combines elements of a traditional pension and a 401(k)-style account. Overall, new workers will contribute more of their salary, work longer, and likely receive a smaller payout in retirement than under the current system, according to a report from the ...

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Retail bloodbath: Bankruptcy filings pile up

America’s top retailers in trouble Bankruptcies continue to pile up in the retail industry. More then 300 retailers have filed for bankruptcy so far this year, according to data from BankruptcyData.com. Most of those filings were for small companies — the proverbial Mom & Pop store with a single location. But there are also plenty of household names on the list. Most of these stores are suffering from the same thing: A shift away from traditional storefronts to online shopping. Not all of these chains will eventually go out of ...

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Trump gives banks (a lot of) what they want

One of Dodd-Frank’s most controversial rules, explained President Trump promised to do a “big number” on the 2010 Dodd-Frank law that Congress and President Obama enacted after the financial crisis. “Dodd-Frank is a disaster,” Trump said when he signed an executive order calling for less regulation after taking office. Now he’s following through. In a 150-page report released Monday by Treasury Secretary Steven Mnuchin, the administration calls for dismantling strict regulations overseeing Wall Street banks. The report would hand the president the power to fire the head of the Consumer ...

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Trump-like 'Julius Caesar' isn't the first time the play has killed a contemporary politician

Trump-like ‘Julius Caesar’ loses sponsors The production of “Julius Caesar” now being put on in New York City’s Central Park is coming under intense fire due to its portrayal of the bloody assassination of a ruler who resembles President Trump. But this is hardly the first time that William Shakespeare’s masterpiece has seen a modern politician subbed in for Caesar and felled by assassins’ knives. It’s not even the first time the director of this production, Oskar Eustis, has modernized the play in that way. “Throughout the 20th century and ...

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Vermont expands medical marijuana plan

Will recreational marijuana soon be legal nationwide? The governor of Vermont has expanded medical marijuana there, weeks after vetoing a bill that would have legalized recreational marijuana. Governor Phil Scott, a Republican, signed a bill that adds Parkinson’s disease, Crohn’s disease and post-traumatic stress disorder to the list of conditions that can be legally treated with pot. When the law goes into effect July 1, those patients will be eligible to legally possess and use marijuana, and to buy it at the four state-sanctioned dispensaries in Vermont. Vermont has had ...

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France has best chance in years for economic revival. It still won't be easy

Pierre Moscovici: Macron’s election positive for France and Europe French President Emmanuel Macron has pledged to remake France’s economy and push through radical reforms of the European Union. Both tasks will be extremely difficult. Macron’s domestic reform agenda got a major boost on Sunday, when voters threw their support behind his centrist political party in parliamentary elections. The decisive first round result puts Macron on a path to secure a majority in parliament, the size of which will be confirmed in a final round of voting next Sunday. “This is ...

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Andy Borowitz: 'We're living in an age that defies satire'

Andy Borowitz: Trump ‘defies satire’ These are tough times for satirists. When the president tweets a constant stream of material like “covfefe,” what’s a comic to do? “We’re living in an age that defies satire,” said Andy Borowitz, the New Yorker’s satirical columnist. “You have a president of the United States who is a former game show host. That sounds like something that would happen on a Sharknado sequel,” Borowitz told Brian Stelter in this “Reliable Sources” podcast conversation. “It’s really tough to make a daily diet of comedy out ...

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Baby panda rally: Zoo's new arrival boosts Tokyo restaurant stocks

How to fly a panda halfway across the world Call it “pandanomics.” News of the birth of a panda at a Tokyo zoo sent shares in two local restaurant operators soaring. Ueno Zoo announced Monday that its giant panda Shin Shin gave birth to at least one cub — the zoo’s first in five years. That’s prompted investors to bet on a baby panda boom for businesses in the area as visitors flock to see the new arrival. Totenko, which specializes in Chinese restaurants, and Seiyoken, known for French dining, ...

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Delta and Bank of America abandon Trump-like 'Julius Caesar'

The Public Theater in New York City lost two sponsors Sunday due to controversy surrounding its rendition of William Shakespeare’s “Julius Caesar,” which includes the gory assassination of a ruler who resembles President Trump. Delta Air Lines(DAL) and Bank of America(BAC) pulled their support following criticism on social media. The play has come under fire from Fox News and one of Trump’s sons. “No matter what your political stance may be, the graphic staging of ‘Julius Caesar’ at this summer’s Free Shakespeare in the Park does not reflect Delta Air ...

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