Business

Caesars Entertainment to Buy Affiliate

Caesars Entertainment Corp. Chairman, CEO and President Gary Loveman speaks as he is inducted during the American Gaming Association's (AGA) 25th annual Gaming Hall of Fame charity gala and induction ceremony at Caesars Palace on Nov. 14, 2013, in Las Vegas, Nevada. The AGA is the national trade association for the commercial casino industry. (Ethan Miller/Getty Images)
Caesars Entertainment Corp. Chairman, CEO and President Gary Loveman speaks as he is inducted during the American Gaming Association's (AGA) 25th annual Gaming Hall of Fame charity gala and induction ceremony at Caesars Palace on Nov. 14, 2013, in Las Vegas, Nevada. The AGA is the national trade association for the commercial casino industry. (Ethan Miller/Getty Images)

LAS VEGAS—Caesars Entertainment Corp. says it will buy an affiliate as it tries to smooth the reorganization of a struggling division and balance its debt load...


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  • The facade of the New York Stock Exchange, Thursday, Oct. 2, 2014. Global stocks were mostly lower Wednesday Dec. 17, 2014 as oil prices tumbled again while investors waited for a U.S. Federal Reserve statement on monetary policy. (AP Photo/Richard Drew)

    World and US Stocks Drift After Ruble Rout

    LONDON—Stock markets around the world were under pressure Wednesday amid the volatility of the Russian ruble and ahead of a key policy meeting at the... Read more

  • A Wall Street sign adjacent to the New York Stock Exchange, Thursday, Oct. 2, 2014. (AP Photo/Richard Drew)

    An Early Rally Fizzles, Leaving US Indexes Lower

    NEW YORK—Sudden twists in the price of oil and currency trading turned the stock market into a roller-coaster ride on Tuesday. Major indexes opened lower... Read more

  • People pass a Wall Street subway stop, in New York's Financial District on Oct. 2, 2014. U.S. stocks are opening moderately lower Tuesday, Dec. 16, 2014, as the price of oil continues to drop. (AP Photo/Richard Drew)

    US Stocks Rise as Russian Ruble, Oil Stabilize

    NEW YORK—Crude oil prices steadied Tuesday afternoon, giving a lift to oil and gas stocks and pushing the U.S. market up. Chevron, Denbury Resources and... Read more

  • People walk past an electronic stock indicator of a securities firm in Tokyo Tuesday, Dec. 16, 2014 as Japan's benchmark Nikkei 225 index tumbled 324.48 points or 1.9 percent to 16,774.92. Asian stocks slid Tuesday as further weakness in oil prices and the slumping Russian ruble helped extend the global market rout. China's benchmark rose after poor factory data fueled hopes of more stimulus. (AP Photo/Shizuo Kambayashi)

    Global Stocks Mixed as Oil, Ruble Keep Falling; Wall Street Poised for Gains

    HONG KONG—The ruble extended its slide to a new record low Tuesday as the slump in oil prices rattled Russia’s economy. Asian stocks slid after... Read more

  • Barclays traders Anthony Rinaldi, left, and Michael McDonnell monitor stock information at their trading bay at the New York Stock Exchange during early trading, Monday, Dec. 15, 2014, in New York.  U.S. stocks opened broadly higher Monday following the biggest weekly losses in two and a half years.  (AP Photo/Bebeto Matthews)

    Wall Street Stock Still Slipping After Biggest Weekly Loss Since 2012

    NEW YORK—U.S. stocks are falling slightly in morning trading Monday following the market’s biggest weekly loss in two and a half years. The Russian ruble... Read more

  • People walk past a display with currency exchange rates in central Moscow, Russia, Monday, Dec. 1, 2014. Russia's ruble hit a new all-time low on Monday, dropping more than 3 percent as declining oil prices and the conflict in eastern Ukraine are weighing in on the Russian economy. The Russian currency traded 52 rubles against the dollar at the opening on Monday after shedding 15 percent in the previous week. The ruble was also down 2 percent against the euro. (AP Photo/Alexander Zemlianichenko)

    Europe Stock Markets Up, Ruble and Oil Down

    FRANKFURT, Germany—The ruble hit a new record low against the U.S. dollar as weaker oil prices keep up the pressure on Russia’s slowing economy. European... Read more

  • People use their cell phone in front of an electronic stock board of a securities firm in Tokyo, Friday, Dec. 12, 2014. Asian shares climbed Friday as investor sentiment was lifted by strong retail sales in the world's largest economy.  (AP Photo/Koji Sasahara)

    Wall Street Stocks, Oil Prices Drop Together

    NEW YORK—U.S. stocks opened lower Friday as the rout in oil continues and a report indicated that growth in China, the world’s second-largest economy, continues... Read more

  • (Shutterstock*)

    Oil Closes Below $60, First Time Since July 2009

    The price of oil fell below $60 for the first time since July 2009 on Thursday and ended trading in New York at $59.95. Benchmark... Read more

  • A four bedroom, four bathroom, full floor residence at The Charles at 1355 First Avenue, between 72nd AND 73rd streets, on the Upper East Side. Asking prices for the five remaining full-floor homes in the 31-story building start at $6,583,500. (Benjamin Chasteen/Epoch Times)

    Full-Floor Residences Only: Upper East Side’s the Charles Sets Luxury Development Trend

    NEW YORK—Gracious four-bedroom, four-bathroom residences with opulent living areas, floor-to-ceiling windows, exquisite finishes and hardware, and panoramic city views are among the hallmarks of elegance... Read more

  • Rendering of the private terrace outside a premium tower residence (17B) at One Riverside Park on Manhattan’s Upper West Side. (Credit: Extell Development Company)

    A Look Inside One Riverside’s Premium Residences

    Expansive terraces designed with entertaining in mind, private inset pools, a double-height living spaces across half and full floor layouts, are among the opulent luxuries... Read more

  • Beacon Condos will be a 35-storey tower with 274 residences, all with balconies. It will be a green building, with occupancy sensors in common areas to reduce electricity costs, energy-efficient lighting, water-wise fixtures and appliances, and low-VOC paints and finishes. (Sorbara Development Group)

    Beacon Condos Draws Buyers to North York City Centre

    As the snow begins to blow and the cold winds start to howl, it’s comforting to know that Beacon Condos, a new project by Sorbara... Read more

  • A rendering of the exterior of The Continental Park in Elmhurst, Queens. Developers are working with the co-op to add a private pond, a footbridge, a landscaped garden, and several seating areas at the building entrance. (The Continental Park)

    The Continental Park in Elmhurst Attracts Attention

    NEW YORK—A large co-op redevelopment in Queens has attracted overwhelming interest from prospective buyers desirous of its conveniences, such as quality finishings and in-house laundry,... Read more

  • A home for sale in Quincy, Mass., on July 10, 2014. Freddie Mac reports on average US mortgage rates for the week on Thursday, Oct. 16, 2014. (AP Photo/Michael Dwyer)

    Freddie Mac Loan Evictions on Pause for the Holidays

    Looking to bring some holiday relief to families in foreclosure, Freddie Mac is placing a moratorium on evictions from Wednesday, Dec. 17, 2014 through Jan... Read more

  • The 39th floor of the Pierre Hotel at the southeast corner of Central Park on East 61st, spans 4,786 square feet, and costs $500,000-a-month. (Michael Weinstein)

    See What You Get for $500,000/Month in NYC

    NEW YORK—The 39th floor of the Pierre Hotel is the most expensive residential rental in New York City. The six-bedroom, six-and-a-half bathroom apartment, at the... Read more

  • The dining area in the model three-bedroom, half floor, unit at One57. (Marco Ricca)

    (PHOTOS) Inside a Model Three-Bedroom Unit at One57

    Extell Development has released photos of a $27 million unit model three-bedroom, half floor unit, at One57. Interior designer Jamie Drake outfitted the unit (58B),... Read more

  • Toronto housing is one regional market that could be overvalued by roughly 20 percent, according to the IMF. (Epoch Times)

    Canadian Housing Roughly 10% Overvalued, Says IMF

    OTTAWA—The International Monetary Fund (IMF) issued a warning Wednesday, Nov. 26, that a hot housing market and mounting household debt represent key domestic risks to... Read more

  • The new development will be called the “Renny” in recognition of the former Harlem landmark. (Rendering Courtesy: BRP Development Corporation)

    Harlem Renaissance Ballroom Site to Become Luxury Apartments

    The Renaissance Ballroom site in northern Harlem is going to become a mixed-use development with more than 130 residential units, 17,500 square feet of retail space,... Read more

  • The exterior of Biyu at The Colours of Emerald City, a 13-storey mid-rise building that will have suites ranging from 506 square feet to 1,265 square feet with nine-foot ceilings, laminate flooring in principal rooms, and a choice of broadloom in the bedrooms. (Emerald City Developments)

    Emerald City Brings Big Changes to Don Mills and Sheppard

    Barbara Lawlor has been thrilled to witness the birth of ELAD Canada’s Emerald City. “It’s incredibly exciting to watch a new community come alive,” says... Read more

  • Tom Cruise's Telluride, Colo., home is on the market for $59 million. (Courtesy of Sotheby's International Realty)

    Tom Cruise Lists Mountain Estate in Telluride, Colorado for $59 Million

    Tom Cruise is looking to sell his estate in the mountains outside Telluride, Colorado, for $59 million, because he doesn’t have time to use the... Read more

  • George Cope, president and CEO of Bell Canada, speaks to local business leaders in Ottawa on Nov. 12, 2014 (Epoch Times)

    Economic Outlook Bright for Innovation-Driven Ottawa

    OTTAWA—The economic outlook is bright in the nation’s capital. Local business leaders gathered at the Ottawa Convention Centre on Wednesday, Nov. 12, for an update... Read more

  • 10dollarapartment

    Man Rents Manhattan Apartment for $10 a Month (Video)

    A median apartment in the West Village usually fetches several thousands of dollar per month in rent, but one clever guy managed to sign a... Read more

  • Fall foliage colors are covered with heavy wet snow in the Berkshire Mountains as a person walks along a road in Williamstown, Mass., on Oct. 30, 2011. (AP Photo/Pat Wellenbach)

    Search for the Perfect Vacation Home Leads to the Discovery of a Hidden Jewel in Williamstown, Mass.

    Thirty-five years ago, Lillian Gilden and her family were intrigued by the idea of designing and building a second home. She started on a quest... Read more

  • Tillary Street in Downtown Brooklyn, New York City on May 27. (Brendon Fallon/Epoch Times)

    Online Rental Listings: Renting the Light of Dead Stars

    The great French novelist Andre Schwarz-Bart once wrote, “Our eyes register the light of dead stars.” He was referring, of course, to the fact that... Read more

  • Artist's rendering of The Residences of 488 University Avenue, a 55-storey mixed-use project at the northwest corner of University Ave. and Dundas St. West in Toronto. (Amexon Development Corporation)

    The Residences of 488 University Avenue Boasts Prime Location, Ample Amenities

    The success of The Residences of 488 University Avenue by Amexon Development Corporation has exceeded the expectations of Jason Shiff, executive sales manager for the... Read more

  • VOX Condos, a 35-storey glass tower at 28 Wellesley St. East, will be completed by 2017. (Cresford Developments)

    Toronto’s VOX Condos Sells out in Three Days

    It didn’t take long for purchasers to buy up all the available suites for sale at VOX Condos, a new 35-storey glass tower by Cresford... Read more

  • A model apartment on the the 58th floor of One57.

    Inside Extell’s One57

    Extell Development’s One57 has been somewhat of a trendsetter, marking the start of glassy, super-luxury  high-rises on 57th Street and beyond.  First the obvious units... Read more

  • The iconic 5th Avenue clock in the Flatiron District of Manhattan. (Benjamin Chasteen/The Epoch Times)

    Flatiron, Increasingly Residential, Comes Into View

    NEW YORK—Flatiron is the kind of neighborhood where, once you step into it, everything seems to slow down just a bit. “It’s easy,” says Rebecca... Read more

  • Background: United States Federal Reserve Bank building in Washington, DC. (Shutterstock*) Top right: Dr. David Wyss. (Courtesy of David Wyss)

    Professor David Wyss on US Economic Recovery, QE, Housing

    Dr. David Wyss believes the Fed is “hitting it as hard as they can,” but the half-speed economic recovery is not only due to the... Read more


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