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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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Warner Brothers & Discovery considers splitting up to boost stock value

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Warner Bros Discovery is considering a strategic breakup to enhance its stock performance, according to a Financial Times report.

The potential move aims to unlock value by separating its media assets from its reality TV and lifestyle businesses.

This decision follows pressure from investors to improve stock performance, amidst challenges in the media industry #featured #trending

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Investors worldwide grow increasingly optimistic about Trump winning the election

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Investors are increasingly optimistic about Donald Trump’s potential re-election, prompting a resurgence in the so-called ‘Trump trade’.

Market participants are closely monitoring Trump’s political strategies and public sentiment, influencing their investment decisions.

Kyle Rodda from Captial.com joins to discuss all the latest.

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Netflix expands use of ads despite slow subscriber growth

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Netflix is intensifying its efforts to introduce an ad-supported tier amidst a plateau in subscriber growth.

The streaming giant hopes to attract new users and boost revenue by offering a cheaper alternative that includes advertisements.

This move marks a significant shift from its traditional ad-free model, reflecting Netflix’s response to competitive pressures and evolving consumer preferences.

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