Sports gambling could be the pandemic’s biggest winner

Newsday is opening this story to all readers so Long Islanders have access to important information about the coronavirus outbreak. All readers can learn the latest news at newsday.com/LiveUpdates.


Your subscription is important because it supports our work covering the coronavirus outbreak and other strong local journalism Newsday provides. You can find the latest news on the coronavirus outbreak at newsday.com/LiveUpdates.

Over the past 11 months, the coronavirus pandemic has wreaked havoc on state budgets. From massive losses in tax revenue to the substantial costs of fighting the virus and supporting those struggling with unemployment, states may need years to recover financially. A Wall Street Journal headline in October offered a dire warning: “U.S. States Face Biggest Cash Crisis Since the Great Depression.”

In multiple states, one option has emerged to address this fiscal crisis: legalized gambling. In 2017, the Supreme Court ruled that states have the right

Read More

Top financial regulators believe markets ‘resilient,’ after Yellen meeting

Top financial regulators said Thursday the market is “resilient” — but agreed to study recent volatility and assess whether investors were being adequately protected.

The comments came after a meeting convened by Treasury Secretary Janet Yellen to discuss financial service issues after a mob of online traders drove surges in prices for GameStop, silver, and other stocks and commodities.

“Secretary Yellen believes it is imperative to uphold the integrity of these markets and ensure investor protection,” according to a statement from the Treasury Department.

In an early test as she begins to tackle the economic and pandemic crisis, Yellen had called the meeting with the heads of the Securities and Exchange Commission, the Commodity Futures Trading Commission and the Federal Reserve to discuss the market situation, Treasury officials told NBC News.

In an interview with ABC’s “Good Morning America” on Thursday morning, Yellen said: “We really need to make sure

Read More

German finance minister points to regulatory failures in Wirecard scandal

By Holger Hansen

BERLIN (Reuters) – German Finance Minister Olaf Scholz said lawmakers need to quickly determine how to tighten regulation in the wake of an accounting scandal at payments company Wirecard that has tarnished the reputation of Germany’s financial watchdog.

The Wirecard case “raises critical questions about supervision of the company, in particular with regards to accounting and balance sheet control,” Scholz told Reuters on Tuesday.

“It appears that neither auditors wigs singapore nor regulators were effective here,” he added.

The comments were an about-face from a brief statement he made on Monday, in which he said regulators had worked hard and done their job.

Wirecard had said on Monday that 1.9 billion euros ($2.15 billion) it had booked in its accounts likely never existed, a black hole that has led to the arrest of its chief executive and that threatens to engulf the company.

Scholz said that any

Read More

Auto Repair, Avoca Ia

In the summer season of 2016, Apple hired Dan Dodge, who formerly ran BlackBerry’s automotive software program division and developed QNX, the software program platform present in a variety of in-car infotainment techniques. Dodge’s automotive software program experience suggests he is engaged on the team creating Apple’s autonomous car system. Apple in June 2019 purchased Drive.ai, a self-driving automobile startup that designed a self-driving shuttle service. Apple employed multiple Drive.ai employees in the areas of engineering and product design for its personal self-driving car project. Apple executives met with contract producers of high-finish automobiles like Magna Steyr, who Apple might need labored with had the car project not shifted focus.

We are your go-to Florida dealership for top-notch vehicles, and our team can’t wait to work with you. Take a have a look at a few of our most exciting services, and uncover why we are your finest resource when … Read More

Facing ‘financial disaster’ from COVID-19, UW System pushes for borrowing ability | Higher education



UW-Madison campus

A cyclist passes the Memorial Union, at right, on UW-Madison’s campus last summer.




The University of Wisconsin System estimates COVID-19 has cost campuses a net $318 million loss from last March through the end of 2020.

Never has a financial landscape like the one currently facing the System made a better case for giving campuses the authority to borrow, officials told the UW Board of Regents at a Thursday meeting, just days before the 2021-23 state budget process begins when Gov. Tony Evers unveils his proposal Feb. 16.

The System is unique in lacking borrowing ability, a constraint that is particularly challenging because of the short-term cash-flow problems the pandemic created.

UW-Madison sustained more than half of the System’s net losses, $176.5 million, since the pandemic hit last spring.



Rebecca Blank

Blank




Its auxiliary units, or entities that normally are self-supporting

Read More

Varex Announces Financial Results for First Quarter Fiscal Year 2021

SALT LAKE CITY–(BUSINESS WIRE)–Varex Imaging Corporation (Nasdaq: VREX) today announced its unaudited financial results for the first quarter of fiscal year 2021.

1QFY21 Summary

  • Revenues $177 million
  • GAAP gross margin 32% | Non-GAAP gross margin* 34%
  • GAAP operating expense $51 million | Non-GAAP operating expense* $46 million
  • GAAP operating margin 3% | Non-GAAP operating margin* 8%
  • GAAP net earnings $(0.16) per diluted share | Non-GAAP net earnings* $0.08 per diluted share

“Our financial results for the first quarter of fiscal year 2021 were stronger than our expectations,” said Sunny Sanyal, Chief Executive Officer of Varex.

“Revenues increased 4% sequentially over the fourth quarter of fiscal year 2020, indicating the start of recovery in our business. Non-GAAP gross margin improved significantly to 34% and was sequentially higher by 580 basis points due primarily to the benefits from cost reductions, as well as a favorable shift in product mix in the medical

Read More