Citigroup To Cut At Least 10,000 In An Overhaul The move is part of a broad effort to cut costs and streamline the bank’s unwieldy global operations.... Read Full Article Wachovia Profit Down 10 Percent Net income at the bank fell to $1.69 billion in the third quarter, hurt by write-downs related to difficult credit market conditions.... Read Full Article Crowd Backs Pope After Canceled Talk More than 100,000 people filled St. Peter’s Square in Vatican City on Sunday in a show of support for Pope Benedict XVI after protests by scientists led him to cancel a university speech.... Read Full Article After 45 Years, Lorin Maazel Is To Conduct At The Metropolitan Opera Mr. Maazel, the music director of the New York Philharmonic, will lead five performances of Wagner’s ?Walküre? in 2008.... Read Full Article Storm Fears Force Shell To Evacuate Gulf Of Mexico Shell has become the first oil and gas major to close down part of its operations in the Gulf of Mexico amid escalating fears that the first hurricane of the season could tear through the region at ... Read Full Article |
Trump Entertainment Loss GrowsTrump Entertainment Resorts, the casino company founded by Donald J. Trump, posted on Wednesday its biggest loss since emerging from bankruptcy in 2005. The fourth-quarter loss swelled to $183.2 million, or $5.89 a share, from $9.68 million, or 31 cents, a year earlier, the company said. Revenue fell 6.4 percent, to $228.6 million. A fourth consecutive quarter of revenue declines led the company to declare that its three Atlantic City properties were worth $238.7 million less than it said they were last year. Trump Entertainment has been battered by a slowing economy and competition, both from slots-only casinos that opened in Pennsylvania after November 2006 and other Atlantic City properties that can spend more on marketing. The company’s stock has plummeted since efforts to sell one of its casinos stalled in June. Analysts say a sale is necessary to pay off debt and diversify into other markets. Trump Entertainment declined 26 cents, or 7 percent, to close at $3.44 on Nasdaq. The shares have dropped 20 percent this year and 75 percent since the company emerged from bankruptcy in May 2005. Tag CloudExternal InformationAdditional InformationUnions Seek to Restrain 2 Financial Firms...Batten down for bumpy ride... UBS suffers veto from India’s central bank... As Condos Rise in Florida, Investors Try to Flee... Where Am I?News Main Page - Business - Trump Entertainment Loss Grows |
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