Business

Travel & Leisure reports: Amidst reports that occupancy rates at Trump Hotels have slipped this election season, the company has announced that new brand hotels will no longer bear the Trump name. The newest line of luxury hotels, geared towards millennials, will be called Scion, the company said. “We wanted a name that would be a nod to the Trump …

Not even with the room rates slashed by 50%. New York Magazine reports: Last weekend bankers and dignitaries from around the world descended on Washington for the annual World Bank–IMF meetings. But just a few days before the conference, rooms were not only still available at Trump International, they were heavily discounted. On October 2, a deluxe room, with a …

Via press release: Wells Fargo & Company announced today that Chairman and Chief Executive Officer John Stumpf has informed the Company’s Board of Directors that he is retiring from the Company and the Board, effective immediately. The Board has elected Tim Sloan, the Company’s President and Chief Operating Officer, to succeed him as CEO, and Stephen Sanger, its Lead Director, …

Reuters reports: Samsung Electronics Co Ltd scrapped its flagship Galaxy Note 7 smartphone on Tuesday less than two months after its launch, dealing a huge blow to its reputation and outlook after failing to resolve safety concerns. Samsung announced the recall of 2.5 million Note 7s in early September following numerous reports of the phones catching fire and on Tuesday …

USA Today reports: The Trump Taj Mahal, an iconic casino hotel on the Atlantic City boardwalk, ceased operations Monday after hemorrhaging losses for years and negotiations with employees’ union broke down, according to its owner, billionaire investor Carl Icahn. The shutdown, which leaves 3,000 employees out of work, was widely expected after its management announced the planned closure in August. …

The New Orleans Times-Picayune reports: Gov. John Bel Edwards is suing Attorney General Jeff Landry for blocking state legal contracts over language meant to protect gay, lesbian, bisexual and transgender people from discrimination in the workplace. Edwards filed the lawsuit in a Baton Rouge state court Friday (Sept. 30), following a meeting with Landry in which the two officials were …

Talking Points Memo reports: The New York attorney general’s investigation of the Donald J. Trump Foundation appears to have broadened to include new allegations of self-dealing by Trump that surfaced after the probe began, TPM has learned. The town of Palm Beach, Florida, has provided documents to the New York Attorney General’s Office as part of the probe, a lawyer …

The Los Angeles Times reports: Donald Trump wanted only the pretty ones, his employees said. After the Trump National Golf Club in Rancho Palos Verdes opened for play in 2005, its world-famous owner didn’t stop by more than a few times a year to visit the course hugging the coast of the Pacific. When Trump did visit, the club’s managers …

South Florida Gay News reports: Bobby Blair’s dream to build an international media enterprise has apparently come crashing to a halt this week. SFGN has received information that the staff of Multimedia Platforms, which includes the Florida Agenda and Next Magazine in New York, has been let go, and there will be no print editions this week. Frontiers in LA, …

Newsweek reports: A company controlled by Donald Trump, the Republican nominee for president, secretly conducted business in Communist Cuba during Fidel Castro’s presidency despite strict American trade bans that made such undertakings illegal, according to interviews with former Trump executives, internal company records and court filings. Documents show that the Trump company spent a minimum of $68,000 for its 1998 …

Fortune reports: Wells Fargo CEO John Stumpf may not lose his job over the phony account scandal that has cost his bank its reputation (and $185 million in fines), but he will lose his bonus — and then some. After weeks of public outcry and prodding from some Wall Street analysts, the Wells Fargo board announced late Tuesday that it …

Vice News reports: Working at Palantir sounds pretty sweet. According to jobs site Glassdoor, the secretive data analysis startup pays software engineers six-figure salaries, and interns can get $7,500 a month plus corporate housing in places like Palo Alto or New York. But according to the Department of Labor, white applicants have a dramatically unfair advantage in landing those gigs. …

The New York Daily News reports: Wells Fargo’s spiraling “sandbagging” scam might get a lot more expensive for the nation’s biggest bank. Two former employees filed a $2.6 billion class action lawsuit last week accusing the bank of demoting or ousting workers who failed to meet “unrealistic quotas” that drove other employees to rip off customers. “Wells Fargo knew that …

For weeks the alt-right has claimed that Twitter’s falling stock value is the direct result of their crackdown on hate speech and the banning of homocon Milo Yiannopoulos. Surely the latest news will headline shortly at Breitbart. Via the Daily Beast: Social-media giant Twitter is now actively exploring a sale and has initiated talks with technology companies, according to a …

Politico reports: Donald Trump’s presidential campaign has paid his family’s businesses more than $8.2 million, according to a POLITICO analysis of campaign finance filings, which reveals an integrated business and political operation without precedent in national politics. The GOP presidential nominee’s campaign has paid his various businesses for services including rent for his campaign offices ($1.3 million), food and facilities …

Via press release: The North Carolina Restaurant & Lodging Association remains committed to a resolution of this very complex situation. Our position is not for one side or the other. The hospitality community is an open and welcoming industry, but we find ourselves caught in the middle of a situation that we did not ask for, and our team members …

Via press release: The unintended consequences of Charlotte City Ordinance #7056 and House Bill 2 have taken a considerable toll on our state as a whole. The hospitality industry has become collateral damage in a fight it did not start or ask for. Restaurant and lodging businesses and their employees are suffering the adverse impact of these policies though lost …

Yahoo Finance reports: College sports are big money, and losing them can cost a state, big-time. The Atlantic Coast Conference’s announcement Wednesday to relocate all neutral-site championships from North Carolina was yet another hit to the state over its controversial “bathroom law.” The ACC decision comes just two day after the NCAA announced it will pull all 2017 championships from …

From Trump headquarters at Breitbart: Republican presidential candidate Donald Trump said he would impose a 35% tax on any cars made in Mexico to keep companies from moving out of the US. Discussing a scenario where a car company wanted to build a plant in Mexico, Trump stated, “What would President Trump do? So I’d call the head of Ford, …

Newsweek reports: If Donald Trump is elected president, will he and his family permanently sever all connections to the Trump Organization, a sprawling business empire that has spread a secretive financial web across the world? Or will Trump instead choose to be the most conflicted president in American history, one whose business interests will constantly jeopardize the security of the …