New iPhone begins world debut in Japan

The iPhone went on sale at a Tokyo store today, making its debut in Japan, amid swirling smoke after a 30-second countdown chanted by hundreds of people lined up, some for days, snaking around the block.

Japanese carrier Softbank Corp.’s store in downtown Tokyo started selling the much-awaited cell phone five hours ahead of the other stores in the nationwide chain.

The celebration, which included a digital clock display ticking away over the entrance, was part of a global rollout in 22 nations of the 3G, or third-generation, wireless connecting iPhone, an upgrade of the model that went on sale last year in the U.S. and several other nations.

The phone will also make its debut in the United States today.


As car market slows, Toyota makes changes

Stung by rare double-digit sales declines and burdened by a growing inventory of slow-selling pickups, Toyota Motor Corp. said Thursday it will start producing the Prius hybrid in the United States and will shut down truck and sport utility vehicle production to meet changing consumer demands.

Toyota said the moves will not affect any full-time workers, who will get training and do other projects during the shutdown. But the company is laying off around 700 temporary workers at the affected plants.


Political-tension worries spark oil-price increase

Oil prices rebounded by more than $5 a barrel Thursday, as another missile launch by Iran stoked worries that escalating political tensions in the Middle East could cut off supplies out of the region.

A day after Iran tested a missile capable of reaching Israel, Secretary of State Condoleezza Rice warned the oil-producing nation that the United States will defend its allies. Iran then responded with another missile launch.

After falling by nearly $10 a barrel on Monday and Tuesday, light, sweet crude for August delivery rose $5.60 to $141.65 a barrel on the New York Mercantile Exchange. It was crude’s largest daily leap since June 6, when the July contract jumped by $10.75 a barrel.

Jobless benefits claims climb during week

The number of Americans collecting unemployment benefits climbed to the highest level since December 2003, reflecting a deteriorating job market that threatens to hurt consumer spending.

The total number of people collecting benefits rose 91,000 to 3.202 million for the week ended June 28, the Labor Department said Thursday in Washington. First-time jobless claims fell more than forecast in the week ended Saturday to 346,000, a figure distorted by annual July shutdowns at auto plants.

Rising unemployment will contribute to the weakest gain in consumer spending since 1991 by the final three months of the year, a monthly survey of economists by Bloomberg News shows.


Nevada gasoline prices keep marching higher

AAA Nevada says Nevada gasoline prices are continuing an upward climb, but the rate of increase has eased.

The statewide average for a gallon of regular, self-serve unleaded rose to $4.25 in July, up 10 cents from the previous month.

But AAA notes the increase is modest compared with the 43-cent spike in June.

In Las Vegas, the average price rose 11 cents in July to $4.23.

The price in Reno increased 4 cents to $4.16.

Elko had the state’s largest increase; the price shot up 22 cents to $4.49.

Nationally, gasoline prices average $4.11, up 7 cents from a month ago.


CEO of GM dismisses talk of bankruptcy

The chief executive of General Motors Corp. dismissed speculation that the largest U.S. automaker might soon seek bankruptcy protection.

Comments in the past week about a potential bankruptcy are “not at all constructive or accurate,” Rick Wagoner said Thursday in Dallas.

GM has $24 billion in cash and $7 billion in unused credit facilities, he said.

Last week, a Merrill Lynch analyst cut his rating on GM stock and said “bankruptcy is not impossible” if the auto market continues to weaken.

GM shares kept sliding Thursday, falling 64 cents, or 6.2 percent, to $9.69 on the New York Stock Exchange. Last week, GM stock closed under $10 for the first time since 1954.

It gets 12 mpg, but U.S. sales surge 20 percent

Fiat SpA has figured out how to beat the slump in U.S. auto sales caused by a slowing economy and record gasoline prices: sell a $115,000 sports car that gets 12 miles a gallon.

Sales of Fiat’s Maseratis jumped 20 percent in the U.S. last month and are up 16 percent for the year to 1,353 vehicles, Autodata Corp. in Woodcliff Lake, N.J., reports.

The Grand Prix-inspired Maseratis serve a niche of buyers who want something more exotic than Daimler AG’s Mercedes-Benz, yet more affordable than Italian competitors Ferrari and Lamborghini, said Wes Brown, automotive analyst at Iceology, a Los Angeles-based market research firm.

“If you’ve got money, you want people to know you’ve got money, and people want to find something that not everybody has,” Brown said.


Treasury prices rise after volatile session

Treasury prices rose slightly Thursday after spending the session responding to swings on the stock market.

In late-day trading, the 10-year note rose 0.06 points to 100.59. Its yield fell to 3.80 percent from 3.82 percent on Wednesday, according to BGCantor Market Data. Yields move in the opposite direction from prices.

The 30-year long bond rose 0.03 points to 99.38. Its yield fell to 4.41 percent from 4.42 percent on Wednesday.

President Trump’s tariffs could raise costs for real estate developers, analysts say
President Donald Trump made his fortune in real estate, but by slapping tariffs on imports from close allies, developers in Las Vegas and other cities could get hit hard.
Las Vegas business and tariffs
Barry Yost, co-owner of Precision Tube Laser, LLC, places a metal pipe into the TruLaser Tube 5000 laser cutting machine on Wednesday, June 20, 2018, in Las Vegas. Bizuayehu Tesfaye/Las Vegas Review-Journal @bizutesfaye
Nevada Film Office Connects Businesses To Producers
The director of the Nevada Film Office discusses its revamped locations database and how it will affect local businesses. (Bailey Schulz/Las Vegas Review-Journal)
Opendoor isn't the typical house flipping company
Unlike most house flippers, the company aims to make money from transaction costs rather than from selling homes for more than their purchase price.
The Venetian gondoliers sing Italian songs
Gondolier Marciano sings a the classic Italian song "Volare" as he leads guests through the canals of The Venetian in Las Vegas. (K.M. Cannon/Las Vegas Review-Journal)
Building In Logandale
Texas homebuilder D.R. Horton bought 43 lots in rural Logandale. (Eli Segall/Las Vegas Review-Journal)
Indoor farming in Southern Nevada
Experts discuss Nevada's indoor farming industry. (Bailey Schulz/Las Vegas Review-Journal)
Former Fontainebleau could have become a Waldorf Astoria
Months after developer Steve Witkoff bought the Fontainebleau last summer, he unveiled plans to turn the mothballed hotel into a Marriott-managed resort called The Drew. But if Richard “Boz” Bosworth’s plans didn’t fall through, the north Las Vegas Strip tower could have become a Waldorf Astoria with several floors of timeshare units. (Eli Segall/Las Vegas Review-Journal)
LVCVA CEO Rossi Ralenkotter announces plans to retire
Rossi Ralenkotter, CEO of the LVCVA, on Tuesday confirmed a Las Vegas Review-Journal report that he is preparing to retire. Richard N. Velotta/ Las Vegas Review-Journal
Cousins Maine Lobster to open inside 2 Las Vegas Smith’s stores
Cousins Maine Lobster food truck company will open inside Las Vegas’ two newest Smith’s at Skye Canyon Park Drive and U.S. Highway 95, and at Warm Springs Road and Durango Drive. Cousins currently sells outside some Las Vegas Smith’s stores and at Fremont Street and Las Vegas Boulevard. (K.M. Cannon/Las Vegas Review-Journal)
Las Vegas home prices to continue to rise, expert says
Lawrence Yun, chief economist at the National Association of Realtors, gives homebuyers a pulse on the Las Vegas housing market. (Eli Segall/Las Vegas Review-Journal)
NV Energy announces clean energy investment
The company is planning to add six solar projects in Nevada, along with the state's first major battery energy storage capacity. Bailey Schulz/Las Vegas Review-Journal
3 Mario Batali restaurants on Las Vegas Strip to close
Days after new sexual misconduct allegations were made against celebrity chef Mario Batali, his company announced Friday that it will close its three Las Vegas restaurants July 27. Employees of Carnevino Italian Steakhouse, B&B Ristorante and Otto Enoteca e Pizzeria, all located in The Venetian and Palazzo resorts, were informed of the decision Friday morning. Bastianich is scheduled to visit the restaurants Friday to speak to employees about the next two months of operation as well as how the company plans to help them transition to new positions.
Nevada has its first cybersecurity apprenticeship program
The Learning Center education company in Las Vegas has launched the first apprenticeship program for cybersecurity in Nevada. It was approved by the State Apprenticeship Council on May 15. (K.M. Cannon/Las Vegas Review-Journal)
Las Vegas union members voting to authorize the right to strike
Thousands of Las Vegas union members voting Tuesday morning to authorize the right to strike. A “yes” vote would give the union negotiating committee the power to call a strike anytime after June 1 at the resorts that fail to reach an agreement. (Todd Prince/Las Vegas Review-Journal)
Small businesses struggle to find qualified candidates
A 2018 survey found that over two-thirds of small businesses in Nevada find it somewhat to very difficult to recruit qualified candidates. Bailey Schulz/Las Vegas Review-Journal
Nevada secretary of state website offers little protection against fraudulent business filings
Property developer Andy Pham tells how control of his business was easily seized by another person using the secretary of state website.
Caesars may be going solo in its marijuana policy
Several Southern Nevada casino companies aren’t following Caesars Entertainment’s lead on marijuana testing.
How much is the Lucky Dragon worth?
Less than a year-and-a-half after it opened, the Lucky Dragon was in bankruptcy.
Gyms and discount stores take over empty retail spaces
Grocery stores used to draw people to shopping centers. But many large retail spaces have been vacant since 2008. Discount stores like goodwill and gyms like EOS Fitness are filling those empty spaces, and helping to draw shoppers back in. K.M. Cannon/Las Vegas Review-Journal
Funding source of Las Vegas stadium for the Raiders is sound, expert says
The stadium is funded in part by $750 million of room taxes, the biggest such tax subsidy ever for a professional sports stadium. Robert Lang, executive director of Brookings Mountain West and The Lincy Institute at UNLV, says that is a good use of public funds. (Richard Velotta/Las Vegas Review-Journal)
Las Vegas needs light rail, expert says
Robert Lang, executive director of Brookings Mountain West and the Lincy Institute said he is afraid of a "congestion mobility crisis." Las Vegas needs a light rail system, he said, to accommodate the city's growing number of attractions. (Richard Velotta/Las Vegas Review-Journal)
Three takeaways from Wynn Resorts' Earnings Call
Matt Maddox came out swinging in his first earnings conference call as Wynn Resorts chief executive officer, boasting of record Las Vegas quarterly revenues and applicants lining up for work.
Star Wars VR Comes to Las Vegas
Sneak peak at the new "Star Wars: Secrets of the Empire" VR experience at the Grand Canal Shoppes.
Elaine Wynn continues her fight to change Wynn Resorts board
Elaine Wynn, the largest shareholder of Wynn Resorts Ltd., is seeking to kick a friend of her ex-husband Steve Wynn off the company’s board of directors. (Todd Prince/Las Vegas Review-Journal)
Zillow is getting into house flipping in Las Vegas
Las Vegas Review-Journal real estate reporter Eli Segall says flipping houses has waned in popularity after the housing bubble burst.
Ellis Island Buys Mt. Charleston Lodge
Ellis Island, which operates a casino, brewery and hotel just off the Strip, purchased the Mt. Charleston Lodge in early April.
Casinos to be penalized for allowing drug-impaired customers to gamble
Nevada Gaming Commission Chairman Tony Alamo talks about an amendment making casinos subject to the same disciplinary standards of preventing people to gamble if impaired by drugs as they are for letting them play while intoxicated by alcohol.
Terrible Herbst to open large travel center in Southern Nevada
The 50,000-square-foot commercial travel center will include 96 fuel pumps and the third White Castle restaurant in Southern Nevada. Wade Tyler Millward reports.
Art Bell’s Top 10 Shows
A selection of radio host Art Bell’s most popular shows.
News Headlines
Home Front Page Footer Listing
You May Like

You May Like