Business News

Tropicana Las Vegas has emerged from Chapter 11 bankruptcy with new owners. Toronto-based Onex Corporation and former MGM Mirage President Alex Yemenidjian acquired a majority stake in the Las Vegas hotel-casino this week, as it completed its yearlong bankruptcy process.

Cash-strapped mining giant Teck Resources Ltd. says it has completed a $1.74 billion private placement designed to lighten its debt load.

Little people are calling on the Federal Communications Commission to ban the use of the word "midget" on broadcast TV.

Precious metals were pressured this week with the U.S. dollar pushing higher. London gold and silver fell after gaining last week. Platinum declined for week four. New York crude-oil and U.S. stocks tumbled Thursday in a holiday shortened week while European stocks were split Friday but closed down on the week as well.

A leaked AT&T memo notes that the launch day for the iPhone 3GS generated their "best-ever sales day in our retail stores." Note, this is for AT&T stores, not Apple stores. Unfortunately, while the memo had some numbers regarding text messages on the day Michael Jackson died, it had nothing numbers-wise about the iPhone 3GS, but lots of superlatives.

One year ago, on July 3, 2008, oil prices settled at a record high -- a once-unthinkable $145.29 a barrel On Thursday, it settled at $66.73, less than half the record price, following a $2.58 decline.

Unemployment in the 16 countries that use the euro spiked to a 10-year high in May, reinforcing concerns any recovery will take time with so many people out of work.

WASHINGTON - Employers cut a larger-than-expected 467,000 jobs in June and the unemployment rate climbed to a 26-year high of 9.5 percent.

Disgraced financier Bernard Madoff's $7-million US Manhattan penthouse was seized by the U.S. Marshals Service on Thursday, forcing his wife to find somewhere else to live.

Stocks closed at their lowest level in six weeks Thursday after the government said the unemployment rate hit 9.5 percent, a 26-year high.

Exelon Corp. on Thursday sweetened its hostile takeover bid for NRG Energy Inc. by 12 percent to $8 billion in stock, citing newly identified cost savings along with NRG's recent deal for Reliant Energy's Texas retail business.

Share + Jul 2, 2009 3:00 pm US/Eastern 1 of 1 Most of the stations, in cities like Chicago, Philadelphia, New York and Dallas, moved their digital broadcasts from the UHF band to the VHF band on June 12, when they turned off their analog broadcasts.

James M. Davis, the chief lieutenant of R. Allen Stanford , will plead guilty to fraud and conspiracy after reaching an agreement to cooperate with prosecutors in their case against the Texas billionaire, his lawyer said on Wednesday.

Facebook 's biggest asset - its population of more than 200 million users - is also part of its Achilles' heel.

The maker of car seats, the Lear Corporation , said on Wednesday that it would file for bankruptcy protection in a reorganization supported by crucial secured lenders and bondholders and that it had obtained $500 million in bankruptcy financing.

Manufacturing posts the best showing in months, a rise in home sales and a wine and spirits giant shines.

General Mills says its fiscal fourth-quarter profit almost doubled as consumers flocked toward the food maker's well-known brands such as Cheerios and Yoplait.

Reports released Wednesday offered a mixed review of the economy. In the first report, construction spending fell more than expected in May, a sign the problems facing the nation's builders are far from over.

President Barack Obama says his new Consumer Financial Protection Agency will protect Americans from unscrupulous practices and make financial products easier to understand.

NEW YORK -- Americans - whose hope for the economy had been rising since March - unexpectedly lost faith this month, pushing down a widely watched barometer.The New York-based Conference Board said Tuesday that its Consumer Confidence Index now stands at 49.3, down from its revised May level of 54.8.Because consumer spending accounts for more than ...