Key takeaways: ESPN and Penn Entertainment have entered into a $2 billion agreement to rebrand Penn’s Barstool Sportsbook as ESPN BET. The new platform will…
Posts published in “Financial”
The Multi-State Lottery Association (MUSL) has engineered the game to generate even larger sums, with half a dozen jackpots exceeding $1 billion in the past five years. Players must purchase their tickets before the drawing in order to be eligible to win the life-changing jackpot, with the drawing taking place at 11 p.m. Eastern Tuesday.
Hollywood writers and studio executives have met to discuss the possibility of resuming contract talks, as the Writers Guild of America (WGA) strike approaches the 100-day mark. The strike has had a significant economic impact on Los Angeles and California, where film and television production accounts for more than 700,000 jobs and nearly $70 billion a year in wages. Negotiations are expected to continue in the coming weeks, with the hope that a deal can be reached that is beneficial to both sides.
Anheuser-Busch InBev, the world's largest brewer, reported a 10.5% decline in U.S. revenue in the second quarter of 2020 due to a drop in Bud Light sales, which has slipped into second place behind Modelo Especial. The company attributed the decline to a conservative backlash against a campaign featuring transgender influencer Dylan Mulvaney. ABInBev is attempting to boost sales with new products and marketing campaigns, and remains optimistic about the future.
Celebrities such as Dwayne "The Rock" Johnson, Meryl Streep, Oprah Winfrey, George Clooney, Jennifer Lopez and Ben Affleck have come together to support union members on strike, donating over $15 million to the SAG-AFTRA Foundation's Emergency Financial Assistance Program. The donations will provide much-needed financial assistance to those affected, and the Foundation is grateful for the generous support of these A-list celebrities.
Russell Laffitte, the former CEO of Palmetto State Bank, has been sentenced to seven years in federal prison for helping convicted murderer Alex Murdaugh steal nearly $2 million from clients' legal settlements. U.S. District Judge Richard Gergel also ordered Laffitte to pay more than $3 million in restitution, marking the end of a long and complicated investigation into the Murdaugh family finances. The case has highlighted the need for increased oversight of financial institutions and the importance of holding those who break the law accountable.
Fitch Ratings Downgrades US Credit Rating to AA+ Due to Growing Debt and Eroding Political Stability
Fitch Ratings Downgrades US Credit Rating to AA+ Due to Growing Debt and Eroding Political Stability
Fitch Ratings has downgraded the United States from AAA to AA+, citing growing debt and eroding political stability. This downgrade could lead to higher borrowing costs for the government and businesses, and highlights the need for fiscal discipline and political stability to maintain the nation's credit rating. The downgrade is a warning sign for the U.S. economy, as it continues to grapple with the economic fallout of the pandemic.
New York Lawsuit Accuses Taco Bell of False Advertising and Overstating Amount of Meat in Menu Items
New York Lawsuit Accuses Taco Bell of False Advertising and Overstating Amount of Meat in Menu Items
A lawsuit has been filed against Taco Bell alleging false advertising, claiming that menu items such as the Crunchwrap and Mexican Pizza contain less meat and vegetables than advertised. The plaintiff, Frank Siragusa, is seeking class action status, damages, and an injunction against the fast food chain. Taco Bell has not yet responded to the lawsuit, and the outcome remains to be seen.