Stocks dip…Las Vegas won’t be hurt by sports bets…Assessing Wynn resorts policies
TOKYO (AP) – Global shares were mostly lower in muted trading Tuesday amid continuing uncertainty over trade tensions between China and the U.S. Futures point to a lower opening on Wall Street. Benchmark U.S. crude oil slipped but remains just below $71 a barrel. The dollar gained against the yen and the euro.
LAS VEGAS (AP) – Casino operators in Las Vegas do not expect the U.S. Supreme Court’s decision breaking a longtime ban on sports betting to hurt their business in Sin City. The operators on Monday hailed the high court’s ruling on a 1992 law that made Nevada the only state where a person could wager on the results of a single game. MGM Resorts International CEO Jim Murren says the company has polled customers and found that widespread sports betting opportunities will not keep fans from traveling to Las Vegas.
LAS VEGAS (AP) – The four female directors of casino operator Wynn Resorts said at a forum Monday they are committed to helping the company move onto a new chapter following the sexual misconduct scandal that engulfed its founder earlier this year. The directors, three of whom have held their posts for less than a month, discussed a wide variety of topics that ranged from equal pay and diversity to work-family balance at the forum attended by dozens of employees in person and some remotely. Wynn Resorts employs 25,000 people worldwide.
SEATTLE (AP) – Seattle’s largest businesses such as Amazon and Starbucks will have to pay a new tax to help fund homeless services and affordable housing under a measure approved by city leaders. The City Council unanimously passed a compromise plan Monday that taxes businesses making at least $20 million in gross revenues about $275 per full-time worker each year – lower than the $500 per worker initially proposed. The so-called “head tax” would raise roughly $48 million a year to build new affordable housing units and provide emergency homeless services.
BERLIN (AP) – German economic growth slowed to 0.3 percent in the first quarter, its weakest performance in more than a year. The quarter-on-quarter economic growth reported by the Federal Statistical Office compared with an expansion of 0.6 percent in the fourth quarter of 2017 and 0.7 percent in the third. It was the slowest pace since the third quarter of 2016, when growth was also 0.3 percent. Economists had predicted a slightly brisker 0.4 percent, but concurred that the lackluster showing doesn’t ring alarm bells.