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Money

Massive cost of MGM hack laid bare

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MGM Resorts International fell victim to a devastating computer hacking incident that paralyzed several of its casino and hotel services, ultimately costing the company a staggering $100 million in lost profits.

This high-profile cyberattack has sent shockwaves through the hospitality and gaming industry.

The breach, which occurred last week, left MGM Resorts scrambling to restore its compromised systems and services. Guests were met with chaos as check-in and check-out processes were disrupted, reservations vanished, and key amenities like restaurants and entertainment venues experienced operational hiccups. The casino giant’s online platforms also faced downtime, hindering the experience for its virtual gaming enthusiasts.

Cybersecurity experts were called in immediately to investigate the breach’s origins and extent. Preliminary findings suggest that sophisticated hackers infiltrated MGM Resorts’ network, potentially accessing sensitive guest information. While the company has assured guests that no financial data was compromised, the breach has raised concerns about the safety of personal information.

MGM Resorts’ stock price plummeted following the attack, and the company is now working tirelessly to regain the trust of its customers and investors.

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Money

Secret IMF meeting sparks US-China truce

Covert IMF meeting sparks US-China trade breakthrough with 115-point tariff cut for 90 days, marking significant progress since the Trump trade war.

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Covert IMF meeting sparks US-China trade breakthrough with 115-point tariff cut for 90 days, marking significant progress since the Trump trade war.


A covert meeting in the basement of the IMF has set off a diplomatic shockwave, leading to a major breakthrough in US-China trade talks.

Top officials from both nations have now agreed to slash tariffs by 115 points for 90 days—marking the first real progress since the Trump-era trade war began.

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Gen Z and millennials surpass boomers in voting power

Gen Z and Millennials outnumber Baby Boomers in Australian elections, signaling potential reforms in taxation and inheritance laws.

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Gen Z and Millennials outnumber Baby Boomers in Australian elections, signaling potential reforms in taxation and inheritance laws.


For the first time in history, Gen Z and Millennials now outnumber Baby Boomers at the ballot box in Australia, marking a seismic change in the country’s political landscape.

Experts say this electoral milestone could spark major reform debates on taxation, superannuation, and inheritance laws as younger voters prioritise different values.

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Stocks decline as tariffs and trade tensions escalate

Stocks drop as tariffs worry investors; gold hits record high; Canada resists U.S. annexation talk.

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Stocks drop as tariffs worry investors; gold hits record high; Canada resists U.S. annexation talk.

In Short:
Stock indexes declined on Tuesday after a nine-day winning streak, while gold prices soared amid economic concerns. Major companies like Ford and Mattel adjusted forecasts due to tariff impacts, and the trade deficit hit a record high of $140.5 billion.

Stock indexes fell on Tuesday, following declines in the Dow and S&P 500 after a nine-day winning streak.

Gold prices reached a new record as markets reacted to ongoing economic concerns.

The downturn persisted following a meeting between Canadian Prime Minister Mark Carney and President Trump, where Carney rejected any notion of Canada being for sale.

Investors showed continued apprehension about the impact of U.S. tariffs and the absence of new trade agreements, particularly as major companies like Ford and Mattel suspended annual guidance due to tariff uncertainties.

Ford impact

Ford, while less affected than competitors, estimated potential tariff impacts could reduce profits by $1.5 billion, prompting a 2.8% increase in its stock.

In contrast, Mattel’s stock rose by 2.6% after it signalled a potential increase in U.S. toy prices, anticipating a $270 million hit from tariffs, while also planning to move manufacturing from China.

Both WK Kellogg and Marriott International adjusted their financial forecasts downward due to tariff-related challenges and broader economic uncertainties.

Clorox shares fell sharply after the company updated its guidance to reflect tariff impacts.

Additionally, President Trump indicated he would announce the details regarding pharmaceutical tariffs within two weeks.

On a related note, new data revealed the trade deficit reached a record $140.5 billion in March, exceeding economists’ expectations and reflecting a surge in imports amid trade policy changes.

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