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MGM says it could pay up to $800 million for possible settlements related to Vegas massacre

New York (CNN Business)MGM Resorts thinks it could pay as much as $800 million for lawsuits related to the 2017 massacre in Las Vegas, though it’s not clear when or if settlements will be reached. “It’s just as possible at this point that it doesn’t,” Eglet said. He added that if a settlement is not reached, attorneys involved in the case will once again pursue litigation. MGM said in a regulatory filing last week it was “reasonably possible” that it will pay out between $735 million and $800 million. The…

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Great fanfare as Uber gets its stock on the road, but app stalls in New York

Could this be the moment the sentiment on Wall Street turned against the tech sector? Ubers stock market debut came with all the usual razzmatazz of a big American technology IPO. The chief executive spent weeks making sweeping statements about how the business was just getting started and had new worlds to conquer everything from pizza delivery to international freight. In the background, investment bankers whipped up buyers for the transportation stock of the 21st century. And, when immediately went into reverse. Priced at $45 a share, valuing Uber at…

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Alphabet: Google parent company’s shares drop after latest earnings report

Report comes as company faces internal worker turmoil, and a recent $1.7bn fine from the EU Google shares slumped on Monday after the company failed to beat analyst predictions, following a year of internal turmoil, privacy concerns, and several international fines. The companys stock was down 7% in after-hours trading after it reported first quarter revenue of $36.34bn, lower than the $37.33bn revenue forecast by analysts. The quarter one earnings represent a 17% increase from the same time last year, in which it reported $31.15bn in revenue. In a call…

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Inside the Quietly Lucrative Business of Donating Human Eggs

It was a Facebook ad that propelled Ashleigh Griffin to act. She had heard about egg donation from her mother, a nurse, but never thought of it as anything more than an esoteric medical procedure. The ad in her Facebook feed in 2011 told a different story. It intrigued Griffin, promising her thousands of dollars for something her body produced on its own, with the bonus of helping another family. It even specified that the opportunity was tailor-made for young cash-strapped women in college, as she was. She clicked through,…

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Tesla gets restraining order against alleged harasser

Carmaker says man trespassed on factory in California and drove at security guard Tesla has been granted a temporary restraining order to prevent an alleged harasser from approaching the carmakers California factory. The electric carmaker claimed in its application for the order that the man had repeatedly harassed its employees. He allegedly controls a Twitter account which frequently claimsthat Tesla engages in fraud and which claims to be betting that Tesla shares will fall. The man, a resident of Fremont, California, is named in the order, granted by a court…

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Mark Carney tells global banks they cannot ignore climate change dangers

Financial sector warned it risks losses from extreme weather and its stakes in polluting firms The global financial system faces an existential threat from climate change and must take urgent steps to reform, the governors of the article published in the Guardian on Wednesday aimed at the international financial community, Mark Carney, the Banks governor, and Villeroy de Galhau, the governor of the Banque de Extinction Rebellion protests and Paris climate agreement, with the banking system required to play a pivotal role. If some companies and industries fail to adjust…

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Jack Dorsey Is Captain of the Twittanic at TED 2019

On Tuesday, Jack Dorsey, the CEO of Twitter, came to TED 2019 to answer for the sins of his platform. In his signature black hoodie and jeans, unkempt facial hair, and black beanie, he sat with TED head Chris Anderson and Whitney Pennington Rodgers, who curates current affairs for the conference, for a conversation that left all three members, along with the audience, frustrated. “We’re on this great voyage with you on the Twittanic,” Anderson told Dorsey after roughly 20 minutes of interrupted back and forth. “There are people in…

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Apple and Qualcomm End Their Legal Beef and Drop Lawsuits

The convoluted legal battle between Apple and chipmaker Qualcomm may be coming to an end. The companies Tuesday said they're dismissing all litigation against each other. Apple will pay Qualcomm an undisclosed sum as part of the settlement, which includes a six-year licensing agreement between the companies. The settlement also covers suits brought by Apple's manufacturing partners, who wanted Qualcomm to repay $9 billion—a number that reportedly could have been tripled under antitrust law—they say the chipmaker overcharged them for patent royalties. The announcement came while Qualcomm's lawyer was delivering…

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Russia’s Rusal was sanctioned by the US. Now it’s investing $200 million in a Kentucky mill

London (CNN Business)Russian aluminum giant Rusal spent most of last year under US sanctions. Now it’s pumping $200 million into a new project in Kentucky. The investment comes after the US Treasury Department in January lifted sanctions on Rusal, En+ Group and another firm with links to Russian oligarch Oleg Deripaska. The agency said that the companies had undergone significant restructuring to dilute Deripaska’s control. “Treasury sanctioned these companies because of their ownership and control by … Deripaska, not for the conduct of the companies themselves,” Treasury Secretary Steven Mnuchin…

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‘It has a real buzz’: how the new high street is bucking the trend

Chorlton, Great Manchester, is thriving with a mix of businesses backed by an independent ethos and community spirit The woes of the British high street were highlighted again this week by figures that showed chain stores were closing their doors according to PricewaterhouseCoopers research compiled by the Local Data Company (LDC). But there are also signs of hope. Five retail categories in particular have had increases in 2018: sport and health clubs; cake shops; ice-cream parlours; bookshops; and vaping stores. In one southern Manchester suburb all the growth areas are…

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The UK’s Tech Backlash Could Change the Internet

British officials took a swipe at global internet giants Monday, suggesting rules that would require the companies to proactively remove content the government views as illegal or “harmful,” and giving the government the right to shut down offending sites. The proposals, contained in a 102-page white paper, are aimed at combating the spread of disinformation, hate speech, online extremism, and child exploitation. If enacted as described, they would constitute some of the most stringent and far-reaching restrictions on internet speech by a major western democracy. But critics said the proposals…

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This Montana County Wants to Crimp Bitcoin to Save the Earth

It’s a well–worn idea that bitcoin is helping to trash the planet, throwing fuel on an already burning world while providing value to very few people. By one recent estimate, the energy used to keep the network going, a process known as mining, is enough to power Hungary. But now a Montana county in the heart of crypto-mining territory is taking matters into its own hands, invoking a local climate emergency in a bid to make bitcoin greener. Missoula County’s strategy rests in the powerful, often-invisible realm of local zoning…

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What Really Happens in a VC Pitch Meeting?

Simon & Schuster The ground rules of this fly-on-the-wall session dictate that I can’t name the entrepreneur or his startup. But there’s no stopping me from describing the man as an odd duck. I’ve sat in on my share of pitch meetings over the years. I’ve witnessed awkward mumblers who can’t make eye contact. In the late 1990s, at the peak of the dot-com madness, I tried not to visibly roll my eyes over the hubris of the MBAs descending on Silicon Valley with their charts and projections but not…

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Apple Enters the Credit Card Market WithYepApple Card

Apple’s event Monday ended up featuring one piece of hardware after all: a new credit card, which it plans to launch this summer in the US. The aptly named Apple Card, created in partnership with Mastercard and Goldman Sachs, will live within the existing Wallet app on iPhones and as a traditional physical card. During a keynote speech, Jennifer Bailey, Apple’s vice president of Apple Pay, described the card as “bold and innovative,” even though it doesn’t offer many unique rewards or perks. But it does feature several security upgrades…

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Facebook Changes Its Ad Tech to Stop Discrimination

On Tuesday, Facebook reached a historic settlement with civil rights groups that had accused the company of allowing advertisers to unlawfully discriminate against minorities, women, and the elderly by using the platform’s ad-targeting technology to exclude them from seeing ads for housing, jobs, and credit—three areas with legal protections for groups that historically have been disenfranchised. After fighting back against the accusations for years, Facebook announced it will make significant changes to its platform so that advertisers can no longer target, or exclude based on characteristics like gender or race.…

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