Posted on

Sheldon Adelson’s Las Vegas Sands Considers Sale of Casinos in Namesake City

Casino mogul Sheldon Adelson’s Las Vegas Sands Corp. is considering a sale of its Las Vegas Strip operations, including two resorts and a huge convention hall, a company spokesman said.

The company is in early discussions and no final decision has been made, said the spokesman, Ron Reese.

The sale price for its Venetian and Palazzo casinos…

Posted on

Foreign Investment Plummets During Pandemic, Except in China

Foreign direct investment in China largely held steady during the first half of this year, even as investment inflows into the U.S. and European Union plummeted, in a fresh sign that the world’s second-largest economy has suffered less damage from the pandemic.

Globally, the monthly average for new investments for the first half of the year was down almost half on the monthly average for the whole of 2019, the largest decline on record, the United Nations’s Conference on Trade and Development said Tuesday. But while foreign…

Posted on

NIH Halts Study Exploring Treating Covid-19 With Lilly Antibody, Remdesivir

Federal health researchers have halted testing a combination of Eli Lilly & Co.’s Covid-19 antibody drug and remdesivir in hospitalized Covid-19 patients, after an independent committee found a lack of a benefit.

The National Institute of Allergy and Infectious Diseases, which is funding the study, said Monday it was planning to test other experimental drugs as Covid-19 treatments in the study. Lilly said it would continue testing its antibody drug in other studies, in patients earlier in the course of their disease, and in…

Posted on

China Trade War Didn’t Boost U.S. Manufacturing Might

WASHINGTON—President Trump’s trade war against China didn’t achieve the central objective of reversing a U.S. decline in manufacturing, economic data show, despite tariffs on hundreds of billions of dollars of Chinese goods to discourage imports.

The tariffs did succeed in reducing the trade deficit with China in 2019, but the overall U.S. trade imbalance was bigger than ever that year and has continued climbing, soaring to a record $84 billion in August as U.S. importers shifted to cheaper sources of goods from Vietnam, Mexico…

Posted on

Campaigns Rush to Submit Facebook Ads Ahead of Limits

Republican and Democratic political advertisers are scrambling to submit their ads to Facebook Inc. before the end of Monday after the social network decided not to allow new political ads in the week leading up to Election Day.

Facebook’s move, which it announced last month as part of an effort to limit misinformation that could lead to civil unrest, is prompting campaigns to submit new ads for approval as soon as possible. Some are also looking for other platforms or social-media influencers to carry their messages.

Posted on

BuzzFeed Expects to Break Even This Year, Thanks to Heavy Cost Cuts

At the end of a staff-wide video call in early October about improving diversity, BuzzFeed Chief Executive Jonah Peretti revealed some good news: The company is on target to break even this year for the first time since 2014.

What was left unsaid is how BuzzFeed got there. Revenue is expected to come in significantly lower this year than in 2019, according to people familiar with the company’s performance, largely because of severe pressure on the advertising market in the early days of the coronavirus crisis.


Posted on

SAP Casts a Cloud Over Software

A crush of workers sent home earlier this year turned out to be good for a lot of tech companies. Keeping them home might not be.

That was the message Monday from SAP. The German enterprise-software giant lowered its revenue and profit targets for the full year and adjusted what it calls its “midterm ambition,” projecting lower cloud revenue through 2025 in part due to “investment delays” in several industries grappling with the coronavirus pandemic’s duration.


Posted on

Hospital Merger Seeks to Create Regional Giant in the West

Utah’s largest hospital system, Intermountain Healthcare, will expand into the Midwest with a proposed merger to create a regional hospital giant, the latest pairing amid a spate of consolidation in the sector.

Under the deal unveiled Monday, Intermountain, a nonprofit based in Salt Lake City, Utah, and Sanford Health, a nonprofit based in Sioux Falls, S.D., would combine 69 hospitals across Idaho, Iowa, Minnesota, North Dakota, South Dakota and Utah. The merger would also unite the two hospital systems’ insurance operations,…

Posted on

U.K. Betting Firm Genius Sports to Go Public in $1.5 Billion SPAC Deal

U.K. betting-data firm Genius Sports has struck a $1.5 billion deal to start trading on public markets by merging with a U.S. blank-check company, according to people familiar with the matter, a move that targets the growing U.S. sports-wagering industry.

London-based Genius Sports Group collects and distributes in-game data that forms the backbone for sports betting. The company works with organizations such as the English Premier soccer league and the PGA Tour.