Financial
Soccer star Beckham will promote casinos in China PDF  | Print |  E-mail
Written by HANNAH DREIER, Associated Press   
Monday, 23 December 2013 07:11

LAS VEGAS (AP) — Retired soccer star and sometime underwear model David Beckham has signed on to help promote Las Vegas Sands' properties in Singapore and the Chinese gambling enclave of Macau.

Sands said in a statement that it hopes to cash in on Beckham's popularity in the region.

The Las Vegas-based company is the largest casino operator in Macau, the center of the modern day gambling world.

The deal may help Sands win attention in mainland China, where casinos are illegal and casino advertising is also banned. Soccer is hugely popular in China.

Beckham appears to have started his new gig already.

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Online shopping popular, but won't save season PDF  | Print |  E-mail
Written by MAE ANDERSON, AP Retail Writer   
Sunday, 22 December 2013 07:58

ATLANTA (AP) — More Americans are deciding to shop online this holiday season instead of heading to crowded stores.

But that alone won't save what is turning out to be a ho-hum Christmas for department stores and clothing chains.

Online sales have surged 9 percent so far this holiday season as Wal-Mart, Macy's and other retailers improved their web sites and prices to better compete with their online nemesis Amazon.com. Meanwhile, shopping at physical stores is up just 2 percent.

Still, it's estimated that for every $9 shoppers spend in physical stores during the two-month season that ends on New Year's Eve, they'll only spend $1 online, according to research firm comScore.

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Military pension cuts now unsure; changes likely PDF  | Print |  E-mail
Written by PAULINE JELINEK, Associated Press   
Monday, 23 December 2013 06:27

WASHINGTON (AP) — The Pentagon's top civilian says it's time to tame burgeoning military personnel costs, but he's facing a test of wills with the nation's powerful veterans groups, which want no cut in their benefits.

Veterans groups are fighting curbs in annual pension increases for military retirees under age 62 that are part of the new budget deal passed by Congress last week and awaiting President Barack Obama's signature. After a barrage of protests from the military community, lawmakers said they'll review the cut next year and possibly reverse it. But Defense Secretary Chuck Hagel said Thursday that reform of military compensation can't be avoided.

"We all know that we need to slow cost growth in military compensation," Hagel told a Pentagon press conference. "We know that many proposals will be controversial and unpopular. ... Tough decisions will have to be made."

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Vegas mortgage fraud scheme mastermind sentenced PDF  | Print |  E-mail
Written by Associated Press   
Sunday, 22 December 2013 07:56

LAS VEGAS (AP) — The mastermind of a Las Vegas mortgage fraud scheme has been sentenced to just over 11 years in prison.

U.S. District Judge Gloria Navarro handed down the sentence Wednesday to 60-year-old Lloyd Gardley, who pleaded guilty in August to conspiracy and fraud charges.

Gardley was ordered to serve five years of supervised release following his prison term and to pay over $1.4 million in restitution.

U.S. Attorney for Nevada Daniel Bogden says Gardley was considered to the leader of a scheme that caused about $15 million in losses to lenders and financial institutions.

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