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August 22, 2014

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Business and Economy

A look at the new SLS Las Vegas on Tuesday, Aug. 19, 2014.
With its small casino floor, is SLS offering a look at the future of Las Vegas?
Aug. 22, 2014
At about 60,000 square feet, the casino floor at SLS Las Vegas is smaller than many on the Strip. But the new resort's operators say they're confident that ...
This Tuesday, Jan. 14, 2014, file photo shows a Bank of America sign in Philadelphia.
Bank of America settlement likely to benefit few
Aug. 21, 2014
Bank of America's record $16.65 billion settlement for its role in selling shoddy mortgage bonds — $7 billion of it geared for consumer relief — offers a glint of hope for desperate homeowners. The settlement requires the second-largest U.S. bank to ...
Homes for sale are shown in the Villas at Black Mountain development near Horizon Ridge Parkway and Gibson Road in Henderson Wednesday, June 1, 2011.
US housing recovery appears to be back on track
Aug. 21, 2014
A fourth straight monthly increase in sales of existing homes provided the latest evidence Thursday that the U.S. housing market is rebounding from a weak start to the year. Housing has been a drag on an otherwise strengthening economy, in part because ...
The Fourth of July from atop Allure Las Vegas on Friday, July 4, 2014, in Las Vegas. SLS Las Vegas, set to open in August, is pictured here.
Just in time: SLS Las Vegas gets gaming license
Aug. 21, 2014
State regulators today gave final approval of a gaming license for SLS Las Vegas, two days before the new resort and casino opens on ...
NV Energy agrees to drop proposed rate hike
Aug. 21, 2014
NV Energy has agreed with consumer advocates to abandon a proposed $37 million rate increase for Las Vegas-area customers. The utility filed a stipulation today ...
The Fourth of July from atop Allure Las Vegas on Friday, July 4, 2014, in Las Vegas. SLS Las Vegas, set to open in August, is pictured here.
SLS signals better times for Las Vegas Strip, broker says
Aug. 21, 2014
The opening of SLS Las Vegas this weekend signals better prospects for development on the Strip, although it probably won’t usher in a pre-recession craze. That was one message delivered Wednesday by ...
The view from Ascaya atop the mountain-mansion development has a fine view of the Strip on Wednesday, August 20, 2014.
Sales of Henderson mountainside mansion lots underway at Ascaya
Aug. 21, 2014
If you want to live on a Henderson mountainside, hundreds of feet above the valley floor, get ready to pay big and build big. Ascaya is ...
From left, Paula Newman, Alexandra Davis, Susan Lara and Brenda Gunsallus work on their application for a medical marijuana dispensary and production facility Wednesday, July 16, 2014.
Nevada gets 174 applications for 76 medical marijuana dispensaries
Aug. 20, 2014
A total of 174 applications were submitted by Monday’s deadline to operate 76 medical marijuana dispensaries in Nevada, the state Division of Public and Behavioral Health reported. Of those, 140 came from Clark County...
In this June 2, 2014, photo, Apple CEO Tim Cook gestures during the Apple Worldwide Developers Conference in San Francisco.
Apple’s stock bounces back to hit a new high
Aug. 20, 2014
Apple's stock touched a new high Wednesday, reflecting investors' renewed faith in CEO Tim Cook's ability to outwit the competition and expand the technological hit factory built by the late Steve Jobs. The milestone represents a dramatic ...
This Albertsons grocery store at Green Valley Parkway and Sunset Road in Henderson, pictured Wednesday, Aug. 20, 2014, is preparing to close.
Another valley Albertsons grocery store set to close
Aug. 20, 2014
Another Albertsons grocery store is closing in the Las Vegas Valley. The Albertsons at the northwest corner of Green Valley Parkway and Sunset Road in Henderson is ...
This Tuesday, Jan. 14, 2014, file photo shows a Bank of America sign in Philadelphia.
Bank of America reaches $17B settlement with US
Aug. 20, 2014
Officials familiar with the deal say Bank of America has reached a record $17 billion settlement with federal and state authorities over its role in the sale of mortgage-backed securities in the run-up to the 2008 financial crisis. The officials say the bank will pay...
Jay Bloom, managing partner of the Las Vegas Mob Experience, poses in a prison bus at the Tropicana Tuesday, March 1, 2011. The $25 million Mob Experience will officially open March 29. The bus was originally to provide transportation to the experience but will instead be converted into a ticket booth, Bloom said.
Investors in failed Mob Experience: Jay Bloom ‘has given us a shot at making our money back’
Aug. 20, 2014
Jay Bloom could have left Las Vegas and never looked back. He was sued multiple times by investors, lenders and contractors involved with the Las Vegas Mob Experience, the museum he founded and briefly operated at the Tropicana in 2011. The attraction went bankrupt, was sold for cents on the dollar and closed. But Bloom didn't cut and run. He fought the lawsuits, and today, he not only has put his legal problems to rest but is vowing to repay his investors, even though he's not legally obligated to do so.
From left, Douglas Geinzer, CEO of Las Vegas HEALS; Ann Lynch, chairwoman of Las Vegas HEALS' board of directors; Stowe Shoemaker, dean of UNLV’s college of hotel administration, and Michael Vonnozzi, director of public policy at the Las Vegas Global Economic Alliance, participated in a medical tourism roundtable discussion at the Las Vegas Sun offices, Tuesday, Aug. 19, 2014.
Courage, leadership, investment needed to effectively push medical tourism here, experts say
Aug. 20, 2014
When people fly out of town for medical care, they often go abroad for low-cost surgery or head to such world-class centers as the Mayo Clinic for care they can’t get at home. They don't usually think of coming to Las Vegas for ...
In this Aug. 18, 2014, file photo, new Los Angeles Clippers owner Steve Ballmer speaks during a news conference held after the Clippers Fan Festival in Los Angeles. Ballmer is stepping down from Microsoft’s board, bringing to a close 34 years with the software giant.
Ballmer steps down from Microsoft board
Aug. 19, 2014
Former Microsoft CEO Steve Ballmer is stepping down from the company's board, closing a chapter on 34 years with the software giant. Ballmer says he plans to devote more time to ...
Las Vegas-to-Monterrey flights launching in December
Aug. 19, 2014
A discount air carrier says it will start offering nonstop service again between Las Vegas and the Mexican city of Monterrey. Mexican company VivaAerobus is launching four...

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