In COVID Closedown Macau Casinos Take Billion-dollar Hit Holding...

A powerful dust devil brought a hot summer pool day at Luxor Resort & Casino in Las Vegas to a full stop, lifting debris and lounge chairs into the air. At least one person was injured from the blip in weather

Not legally required to pay staff during a mandated closure, casinos have nevertheless continued to do so.
Operators have also tried to burnish their social responsibility credentials by supporting local businesses and offering use of their hotel rooms for quarantine.

Later in the week a raft of economic data - including consumer prices, retail sales and factory output - should provide a glimpse of the extent to which inflation has peaked and the economy has cooled down as the Federal Reserve moves closer to next week's policy meeting, which is expected to culminate in the second straight 75 basis point interest rate hike.

LOCKDOWN RUMOURS Residents thronged to food markets and grocery stores on Thursday, spooked that the city would be fully locked down. The government denied the rumours and urged the public not to panic and hoard food, according to local broadcaster TDM.

China, which outlawed cryptocurrency last year, is leading the "in-development" pack with the digital yuan, having trialed over $5 billion worth of transactions since June 2021. China has conducted various real-world pilot runs to test the "reliability of economic theories, the stability of systems and the controllability of risks," according to a recent report by the People's Bank of China. These pilot runs included giving digital yuan to a random pool of applicants to be spent at designated offline locations or on the site of China's largest online retailer, JD.com. 

parent companies. They are also trying to showcase their role in society in Macau, where the industry accounts for more than 80% government tax income, by not firing tens of thousands of staff with no gamblers to deal cards to or otherwise serve.

What's So Special About Death Stranding? Since its release in 2019, Death Stranding has been regarded -- warmly and not so warmly -- as something of an oddity amongst the slate of AAA first-party games. It's an open-world action game starring a cast of Hollywood actors such as Norman Reedus, Mads Mikkelsen (Hannibal, Casino Royale), and Léa Seydoux (Skyfall), with a story that centers around the core theme of connection and unity in the face of trying circumstances.

But CBDCs are complex. They offer some potential benefits (providing financial resources to underbanked populations, for example) and potential drawbacks (including significant privacy concerns). For now, here's an introduction to some of the basics, as well as an overview of which countries are working on CBDCs and some clues about how a central bank digital currency might work in practice. 

"Currencies throughout history can either be issued by the public or by private entities, and what crypto has shown us or has delivered is a reignition of an age-old fight between private and public currency issuance," said Peebles. "Central bankers suddenly got blindsided; and so, a central bank digital currency is central bankers trying to hold on to their monopoly over currency issuance in the face of erosion of that monopoly."

Though initially released in 2019, Death Stranding, in many ways, speaks to the present struggles of political division and our collective sense of loneliness and isolation during lockdown. Yet, its most effective emotional hook hit me hard: Your choice to endure and make it over that next hill is worth it. Always. Whether that's for your own personal growth or for someone who's walking the same path as you.

Having invested billion in Macau over the last two decades, they are soaking up losses as they prepare to bid for new licenses by next month in a business that generated $36 billion in revenue in 2019, the last year before COVID curbs slammed the sector.

Sealed buildings include the landmark Grand Lisboa hotel on Macau's bustling main peninsula.
More than 500 people were locked inside the hotel for at least five days from Tuesday after infected cases were found there.

While the government has not imposed the type of citywide lockdown seen in mainland Chinese cities, Macau is effectively closed with most facilities shut. Residents have been asked to stay home, public transport is curtailed and restaurants are only providing takeaway.

The market currently expects that the central bank will raise the Fed funds futures rate by 75 basis points in its latest salvo against red-hot inflation, a tactic which some fear could tip an already cooling economy into recession.

'The water started spinning, and when my friends and I saw that we turned and covered our heads like we would in a tornado drill and then I looked up and saw chairs flying - ran over to get our stuff all of our stuff was gone,' Darla Kersten of Illinois told Fox5. 

Risk-off sentiment, further stoked by Macao's first casino shutdown in over two years to curb the spread of COVID-19, also sent the Nasdaq into negative territory, with market leading tech- and tech-adjacent megacap stocks weighing heaviest.
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