From staff and wire reports
A Las Vegas executive who is coming to Atlantic City to take a top role in the Caesars Entertainment Corp. casino empire will have to wait a little longer for approval of his New Jersey license. The state Casino Control Commission postponed a vote Thursday on Rick Mazer's license application to become regional president and general manager of Caesars-owned Harrah's Resort, saying all of his paperwork has not been completed. A vote is now expected in September. Mazer currently serves as president of the Harrah's, Flamingo and Quad casinos on the Las Vegas Strip.
Two redesigned Honda Civic models were the only small cars among those tested by the Insurance Institute for Highway Safety to get the top rating in stringent front-end crash tests. The Dodge Dart, Ford Focus, Hyundai Elantra and the Scion tC performed well, but the Nissan Sentra, Kia Soul and Kia Forte each were rated poor.
Foxwoods Resort Casino and a local of the United Auto Workers Union have reached a tentative agreement on a new contract for nearly 2,000 table games dealers that increases pay and allows dealers to decide how tips are distributed. Dealers would receive a 25-cent-per hour raise, or 2.5 percent, retroactive to March 1, 2012. They would get an additional 30 cents per hour retroactive to March 13, 30 cents next year and 30 cents in 2015.
Jobless claims lower
Applications for U.S. unemployment benefits over the past four weeks dropped to a seasonally adjusted 335,500, the Labor Department said. But while most companies have stopped cutting jobs, many remain reluctant to hire.
The U.S. Justice Department is investigating JPMorgan Chase over mortgage-backed investments the bank sold in the run-up to the financial crisis. The bank said it is responding to investigations by the civil and criminal divisions of the U.S. Attorney's office for the Eastern District of California.
Las Vegas casino mogul Steve Wynn will donate $25 million to the University of Iowa to accelerate the search for cures to rare eye diseases, including the one that hampers his own vision. The donation, to be paid over five years, will support the Institute for Vision Research and will be renamed in honor of the billionaire chairman and CEO of Wynn Resorts Ltd., who has retinitis pigmentosa.
Loan rates steady
Mortgage buyer Freddie Mac said the average rate on the 30-year loan edged up to 4.40 percent from 4.39 percent last week. The rate is a full percentage point higher than in early May, when rates neared record lows. But rates remain low by historical standards.
Fannie $10B profit
Mortgage giant Fannie Mae earned $10.1 billion in the second quarter, aided by the recovery in the housing market. Fannie said it will pay a dividend of $10.2 billion to the U.S. Treasury next month and will have repaid then $105 billion of the approximately $116 billion bailout it received from taxpayers.
Md. gambling revenue
The opening of Maryland's largest casino went a long way to helping the state net nearly $830 million in lottery and casino revenue in the past fiscal year - a 27.6 percent increase from the previous one. The increase came despite a drop in traditional lottery revenue for the state from $556 million to $545 million.
McDonald's says a key sales figure edged up modestly in July, as a bigger push behind its Dollar Menu and Big Mac in the U.S. helped offset declines in other parts of the world. Global sales rose 0.7 percent at restaurants open at least 13 months, including a 1.6 percent increase in the U.S.