The new Wynn Casino and Lisboa Casino in Macao, China. Bob Henry | Universal Images Group | Getty Images Billionaire Tilman Fertitta has increased his ownership stake in Wynn Resorts to 9.9%, according to a filing with the U.S. Securities and Exchange Commission. The filing indicates a passive position, though multiple people familiar with the … Read more
TOKYO — Japan’s economy eked out an annual rate of 0.9% growth in the July-September period as consumer spending held up, government data showed Friday. The world’s fourth-largest economy grew 0.2% in the fiscal second quarter, marking the second straight quarter of expansion, following 0.5% growth in April-June. Seasonally adjusted gross domestic product, or GDP, … Read more
Getty Images The Chancellor announced an end to inheritance tax exemption for farms in October. A bid by the department for rural affairs to soften changes to inheritance tax for farms – possibly by exempting some older farmers – has been rejected by the Treasury. The Treasury said there would be no change or mitigations … Read more
A New York technology entrepreneur was sentenced to five years in prison on Thursday after pleading guilty last year to laundering funds stolen from Bitfinex, one of the world’s largest cryptocurrency exchanges, with the help of his wife. Ilya Lichtenstein, 35, hacked into Bitfinex’s network in 2016, using advanced hacking tools and techniques, and stole about 120,000 bitcoin, the Justice … Read more
The average rate on a 30-year mortgage in the U.S. edged lower this week, ending a six-week climb. The rate slipped to 6.78% from 6.79% last week, mortgage buyer Freddie Mac said Thursday. That’s still down from a year ago, when the rate averaged 7.4%. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners seeking … Read more
TRENTON, N.J. — After an unexpected loss in which he threw four interceptions in September, Auburn quarterback Payton Thorne heard from bettors angry that his subpar statistics lost bets for them. Some contacted him over the Venmo cash transfer app, asking him to refund their losses. In March, North Carolina basketball player Armando Bacot said … Read more
AACHEN, Germany — Hundreds of curious shoppers, some equipped with camping stools and rain gear, lined up for hours on a drizzly Thursday in the western German city of Aachen. They weren’t waiting for the latest phone or luxury handbag release: they were after a taste of a new chocolate bar. Swiss chocolate giant Lindt … Read more
NEW YORK — NEW YORK (AP) — Advance Auto Parts is closing more than 500 stores and shedding another 200 independent locations as part of its efforts to revive its struggling business. North Carolina-based Advance Auto said Thursday that it would be reducing its U.S. footprint as part of a “strategic plan to improve business … Read more
Volocopter The VoloCity made demonstration flights in Paris over the summer One of the innovations at this year’s Paris Olympics was supposed to be an electric flying taxi service. Germany’s Volocopter promised its electric-powered, two-seater aircraft, the VoloCity, would be ferrying passengers around the city. It never happened. Instead the company ran demonstration flights. While … Read more
Hedge funds piled into bets on financial stocks, Tesla shares and a prison operator in the third quarter, filings showed, ahead of a rally that followed Donald Trump’s victory in the US presidential election. Many of the bets have become known as so-called Trump trades, corners of the market that at times were swayed by the Republican candidate’s … Read more