Author: Press Room

© Reuters. LAS VEGAS – Employees of MGM Resorts (NYSE:) International are poised to ratify a landmark five-year labor agreement today, following the overwhelming approval of a similar contract by Caesars (NASDAQ:) Entertainment workers on Sunday. The agreements come amid ongoing negotiations for 15,000 workers at independent casinos in Las Vegas, with potential strike action looming. The MGM contract offers substantial benefits to the Culinary Local 226 Union members. It includes a significant first-year wage increase of 10%, retroactive to June, with hourly wages anticipated to rise from an average of $26 to $35 over the contract’s term. Secretary-Treasurer Ted…

PeopleImages/iStock via Getty Images Companies and unions have reportedly been switching their pharmacy benefit managers. or PBMs, over concerns that they’re being steered towards costly drugs when cheaper alternatives are available. According to a Wall Street Journal report, some employers and unions are concerned that they are being told to cover higher cost drugs because PBMs can profit from rebates offered by drugmakers. The Journal added that whether the PBMs were actually profiting from the rebates was unclear as many aren’t very open about their fees and other sources of revenue. Employers and unions that have recently switched their PBMs…

No Labels, the centrist organization that is vying to gain ballot access for the 2024 presidential election, has joined forces with Javier Palomarez, an advocate of Hispanic-owned businesses with a history of allegations of workplace financial misconduct and sexual harassment.In 2018, Mr. Palomarez stepped down from his job as chief executive of the United States Hispanic Chamber of Commerce while facing accusations that he had padded his pay and had made an unwanted pass at his female chief of staff. He denied those allegations and later sued the chamber. He also sued one of the group’s former directors, saying that…

S&P 500 value stocksgetty These are value stocks and they seldom make exciting headlines like some of the Big 7 that make up the greater part of the Nasdaq 100, but for a certain type of long-term investor, they may make sense. These are mature companies that have been around much longer than, for example, Microsoft MSFT or Apple. Benjamin Graham of Columbia University’s business school wrote about methods for selecting stocks and his student, Warren Buffett, made history in the investment world when he applied them. Value stocks still exist despite this era’s intense spotlight on the growth sectors…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Scott Shleifer, the head of Tiger Global’s $30bn-plus private equity business, will step down from his role at the hedge fund at the end of the year.The move will be a significant change for Tiger, a $58bn-in-assets hedge fund founded by Chase Coleman, a protégé of Julian Robertson, in 2001. Shleifer was one of Tiger’s first hires and spotted enormous opportunities from ascendant technology companies, particularly in China, where he was an early backer of ecommerce groups such as JD.com and Ctrip.com.Shleifer…

© Reuters. Bull statues are placed in font of screens showing the Hang Seng stock index and stock prices outside Exchange Square, in Hong Kong, China, August 18, 2023. REUTERS/Tyrone Siu/File Photo By Tom Westbrook SINGAPORE (Reuters) – Asian stocks backed away from 2-1/2-month high on Wednesday and the dollar found support as investors’ tempered some of their earlier enthusiasm about the prospect of an end to U.S. rate hikes. MSCI’s broadest index of Asia-Pacific shares outside Japan has gained more than 3% since a week ago and hit its highest since September on Tuesday. But it fell 0.2% in…

© Reuters. Investing.com– Shares of NVIDIA Corporation’s (NASDAQ:) Asian suppliers fell on Wednesday, reversing some gains made over the past two sessions as a bleak forecast for Chinese revenue outweighed otherwise strong quarterly earnings from the world’s most valuable chipmaker. Nvidia clocked , handily beating Investing.com estimates for EPS of $3.36 and revenue of $16.18 billion, in the three months to Sept. 30. The firm also forecast revenue of around $20 billion for the quarter to December, above estimates for a forecast of $17.91 billion. But Nvidia flagged a significant decline in future revenue from China, citing the impact of…

© Reuters. FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Picture taken November 22, 2019. REUTERS/Angus Mordant/File Photo By Laura Sanicola (Reuters) – Oil prices were largely unchanged in Asian trade on Wednesday as a potentially big build-up of cancelled out gains triggered by likely supply cuts from the OPEC+ producers group. futures rose 11 cents, or 0.1%, to $82.56 a barrel by 0004 GMT. U.S. West Texas Intermediate crude futures rose 14 cents, or 0.2%, to $77.91. Both benchmarks have fallen for four…

Drone Delivery Canada reports Q3 results

A 4th U.S. Circuit Court of Appeals panel on Tuesday struck down Maryland’s handgun licensing law in a 2-1 ruling.The law, whose requirements include fingerprint submissions and completion of a four-hour firearms safety course, was deemed unconstitutionally restrictive.”The challenged law restricts the ability of law-abiding adult citizens to possess handguns,” the court’s opinion read, “and the state has not presented a historical analogue that justifies its restriction.”A federal appeals court on Tuesday struck down Maryland’s handgun licensing law, finding that its requirements, which include submitting fingerprints for a background check and taking a four-hour firearms safety course, are unconstitutionally restrictive.In a…