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Judge rules Atlantic Club casino can end contract with PokerStars and seek new buyer

MAYS LANDING, N.J. - After paying an $11 million advance to a struggling Atlantic City casino it intended to buy, the parent company of the world's largest online poker website was left with nothing for its troubles Friday when a judge ruled the casino had the right to scrap the deal. Superior Court Judge Raymond Batten said The Atlantic Club Casino Hotel could terminate the contract it signed with The Rational Group, the British parent company of PokerStars, when the company failed to get New Jersey's preliminary approval by April 26 to own a casino.

Ex-Groupon CEO Mason 'takin' care of business' with motivational album, plans for new company

NEW YORK, N.Y. - Former Groupon CEO Andrew Mason is diving into several new ventures, including indulging his inner rock star with an album of "motivational business music." Mason said Thursday on his blog that he recently spent a week in Los Angeles and recorded a collection of seven songs called "Hardly Workin'."

Report: Yahoo board to meet Sunday to vote on proposed $1.1 billion acquisition of Tumblr

NEW YORK, N.Y. - Yahoo may be on the verge of closing its biggest acquisition during the 10-month reign of CEO Marissa Mayer as she tries to attract more traffic and advertisers to the Internet company's website and mobile applications. The Sunnyvale, Calif., company's board of directors will meet Sunday evening to consider approving a $1.1 billion acquisition of online content-sharing site Tumblr in a deal Mayer negotiated, according to the technology news site All Things D. The story posted late Friday cited anonymous sources.

Bill Gates overtakes Carlos Slim on Bloomberg's rich list

New York, May 17 (EFE).- Bill Gates has regained the title of the world's richest person, a position he lost in 2007 to Mexico's Carlos Slim due to fluctuations in the Microsoft mogul's stock market investments, according to Bloomberg's daily index. Gates's fortune is now estimated at $72.7 billion, having risen 16 percent over the past year thanks to a resurgence of financial markets in recent months.

Obama meets with new acting IRS head Daniel Werfel, expects report back in 30 days

WASHINGTON - The White House says President Barack Obama has met with Daniel Werfel, the new acting commissioner of the Internal Revenue Service. The Treasury Department says Treasury Secretary Jacob Lew told Werfel to take steps immediately to ensure the IRS is acting in an unbiased way. Werfel was previously the controller of the Office of Management and Budget, a job akin to a chief financial officer. He's replacing Steven Miller, who was ousted Wednesday amid revelations that the IRS improperly singled out conservative groups for special scrutiny.

NewsRight dismantles, transfers service, brand to Moreover Technologies

NEW YORK, N.Y. - NewsRight, an organization created to turn unauthorized publishers of newspaper content on the Internet into licensed customers, said it is disbanding and transferring its operations to Moreover Technologies, which monitors how Moreover's clients are portrayed in the media. NewsRight said that Moreover will get the NewsRight brand and will offer new contracts to the organization's current customers. Moreover is working with BurrellesLuce, another media monitoring company, to expand NewsRight's licensing efforts, NewsRight said.

Business Highlights

___ A year after IPO, Facebook aims to be ad colossus NEW YORK (AP) — It was supposed to be our IPO, the people's public offering. Facebook, the brainchild of a young CEO who sauntered into Wall Street meetings in a hoodie, was going to be bigger than Amazon, bigger than McDonald's, bigger than Coca-Cola. And it was all made possible by our friendships, photos and family ties. Then came the IPO, and it flopped. Facebook's stock finished its first day of trading just 23 cents higher than its $38 IPO price. It hasn't been that high since.

Football: Mourinho, Ronaldo off as Atletico stun Real

Atletico Madrid won their 10th Copa del Rey as goals from Diego Costa and Miranda saw them beat Real Madrid 2-1 in extra-time as both Jose Mourinho and Cristiano Ronaldo were sent-off. Real had been unbeaten in the previous 25 meetings between the two rivals dating back 14 years and Mourinho's men got off to the perfect start when Cristiano Ronaldo headed in Luka Modric's corner. However, Diego Costa levelled for Atletico 10 minutes before half-time and Los Rojiblancos then rode their luck as Mesut Ozil, Karim Benzema and Ronaldo all hit the post for Real.

Global luxury market set for slower growth: study

The global luxury market will grow by a relatively modest 4-5 percent in turnover this year compared to the 10 percent expansion seen in 2012, a study released on Thursday by research consultancies Bain & Company and Fondazione Altagamma showed. "We are seeing a more even distribution of global growth," said Claudia D'Arpizio, a Bain partner in Milan and lead author of the study. "In turn, brands are refocusing from short term, reactive hot spot thinking to long-term sustained growth strategies," she said.

Global luxury market set for slower growth: study

The global luxury market will grow by a relatively modest 4-5 percent in turnover this year compared to the 10 percent expansion seen in 2012, a study released on Thursday by research consultancies Bain & Company and Fondazione Altagamma showed. "We are seeing a more even distribution of global growth," said Claudia D'Arpizio, a Bain partner in Milan and lead author of the study. "In turn, brands are refocusing from short term, reactive hot spot thinking to long-term sustained growth strategies," she said.
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