Business & Economy
Associated Press/Photo by Wayne Parry

Legalized sports betting gears up for NFL season

by Les Sillars
Posted 7/30/18, 10:55 am

Two Atlantic City, N.J., casinos owned by Caesars Entertainment will start taking sports bets this week, while another two Ceasars operations in Mississippi will do so in mid-August, just in time for the start of the NFL season. Following the U.S. Supreme Court’s decision in May to permit states to legalize sports betting, dozens of gambling companies have applied for licenses to operate in New Jersey, hoping to get in on the multibillion-dollar opportunity.

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Associated Press/Photo by Richard Drew (file)

Facebook shares lose $119 billion in value

by Les Sillars
Posted 7/27/18, 10:55 am

After Facebook founder Mark Zuckerberg’s admission that the company’s second-quarter growth was slower than expected, its shares plummeted 19 percent on Thursday. That vaporized $119 billion of value in one of the biggest single-day losses in stock market history. The decline roughly equals the value of McDonald’s or Nike. Zuckerberg’s shares alone lost about $16 billion.

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Associated Press/Photo by Mark Schiefelbein

Qualcomm deal victim of U.S.-China trade tensions

by Les Sillars
Posted 7/26/18, 12:07 pm

San Diego–based Qualcomm, the world’s biggest smartphone chipmaker, on Wednesday dropped its $44 billion bid to buy Dutch chipmaker NXP Semiconductors after Chinese authorities declined to approve the deal. China, the world’s largest market for chips and smartphones, was the last of nine markets needed to approve the merger. The deal is considered a high-profile victim of the rising trade tensions between the United States and China.

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