Casino giant Caesars talks with creditors as debt mounts, analysts foresee bankruptcy + MORE Oct 17th

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The stock market had another turbulent session Friday, capping off one of the more eventful weeks on Wall Street in years. The Dow Jones industrial average soared more than 250 points following strong earnings from Morgan Stanley, General Electric and Textron as well as some encouraging U.S. economic reports.
On Friday:
The Dow Jones industrial average rose 263.17 points, or 1.6 per cent, to 16,380.41.
The Standard & Poor’s 500 index rose 24 points, or 1.3 per cent, to 1,886.76.
The Nasdaq composite gained 41.05 points, or 1 per cent, to 4,258.44.
For the week:
The Dow Jones industrial average fell 163.69 points, or 1 per cent.
The Standard & Poor’s 500 index fell 19.37 points, or 1 per cent.
The Nasdaq composite lost 17.80 points, or 0.4 per cent.
For the year:
The Dow is down 196.25 points, or 1.2 per cent.
The S&P 500 index is up 38.40 points, or 2.1 per cent.
The Nasdaq is up 81.85 points, or 2 per cent.
The post How the Dow Jones industrial average and other major indexes did Friday appeared first on Canadian Business.

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Jack Lew, Investment Killer

– online.wsj.com

Jack Lew, Investment KillerTreasury stops a merger, ensuring fewer dollars will return to the U.S.

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LAS VEGAS, Nev. – Caesars Entertainment Corp. says it’s talking with some creditors to come up with ways to release pressure on its debt-heavy operations division but financial analysts still see signs of bankruptcy to come.
Officials reported the formal talks with its bank lenders in a filing to the Securities and Exchange Commission Friday.
That comes a day after it reported its first-in-line creditors would have a claim on Caesars Entertainment Operating Company cash in case it defaulted.
The subsidiary had $2.1 billion in cash as of June 30.
Caesars has $24.2 billion in debt.
Analysts say a bankruptcy decision may be driven by creditors second in line who are owed interest by December and say Caesars has already defaulted on agreements.
Caesars owns 52 casinos in the U.S. and abroad.
The post Casino giant Caesars talks with creditors as debt mounts, analysts foresee bankruptcy appeared first on Canadian Business.

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5.5 year – 2.60%

– ratesupermarket.ca

This GIC rate is offered by DUCA Financial Services and was updated on 2014-07-12. Click on the link above to get more details or apply online.

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CTV NewsPanel recommends Ontario keep public ownership of LCBO, OPG and Hydro OneCTV NewsTORONTO – An advisory panel set up to examine a possible sale of the Liquor Control Board of Ontario, Hydro One and Ontario Power Generation recommends the province retain ownership of all three Crown corporations. Chair Ed Clark, president and CEO …Sell 12-packs of beer, keep LCBO public: PanelSun News NetworkOntario should keep control of public assets, panel saysbnn.caNEW YORK, NY – US stock indexes are closing out a wild week with a big gain.Castanet.netVictoria News -CBC.ca -CP24 Toronto’s Breaking Newsall 41 news articles »

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