Steve Wynn’s ex-wife said she told company lawyer about alleged rape of employee in 2009

Elaine Wynn said a Wynn Resorts Ltd. in-house lawyer who was told in 2009 about an “alleged rape” of an employee by her former husband, Steve Wynn, called it a “personal” matter. The former wife of the company’s founder testified Wednesday for the first time in open court about the allegations of sexual misconduct that led Steve Wynn to step down as chairman and chief executive of his casino empire last month. She said at a hearing in Las Vegas that she told Wynn’s general counsel, Kim Sinatra, nine years ago about the alleged rape from four years earlier. Sinatra responded that “it was not a company matter but a personal matter, and as far as she was concerned, it was handled,” according to Elaine Wynn’s testimony. A Nevada state judge is deciding what evidence of Steve Wynn’s alleged misconduct can be brought at a jury trial scheduled for next month. Elaine Wynn says she lost her seat on the Wynn Resorts board of directors in 2015 because she had raised questions about her former husband’s “reckless behavior.” Todd Bice, a lawyer for Wynn Resorts, said the company fundamentally disputed that Elaine Wynn reported the 2005 incident as a corporate governance issue. “She was seeking and sharing information from Mrs. Sinatra to use in her divorce,” Bice said at the hearing. — BLOOMBERG NEWS


Trump business loses bid to regain control of Panama hotel

President Trump’s family hotel business has lost a bid to regain control of the luxury hotel in Panama that ousted his brand, according to a new emergency arbitration ruling. The arbitrator ruled Tuesday that Trump’s company should not have been evicted while a broader arbitration dispute was ongoing between the hotel owners and Trump. But with Trump outmaneuvered in Panama and the hotel in the owners’ hands, the arbitrator declined to reinstate the Trump team. He also barred all parties from starting new legal fights over the matter. ‘‘The facts on the ground now militate against forcibly undoing the steps that have been taken,’’ arbitrator Joel Richler wrote. He said his decision might be different if Trump had sought an emergency arbitration decision before the hotel owners successfully petitioned the Panamanian courts for help. Alan Garten, the Trump Organization’s general counsel, declined to comment on the ruling. But in past statements to the Associated Press, he has said that the Trump Organization expects the arbitration process will ultimately find that Trump Hotels’ firing and subsequent removal from the property without an arbitrator’s approval violated Trump’s contract. — ASSOCIATED PRESS



Parent company of Saks, Lord & Taylor had an unhappy holiday season

The rebound taking shape in parts of the retail industry eluded the owner of the Saks Fifth Avenue and Lord & Taylor department stores, which failed over the holiday season to reverse a decline in same-store sales. Hudson’s Bay Co. reported fourth-quarter earnings on Wednesday that missed analysts’ estimates. Hudson’s Bay has axed 2,000 jobs, reorganized management, and centralized e-commerce operations under a plan to win back customers, who are increasingly turning away from department stores in favor of online retailers like Amazon.com Inc. The Toronto-based company, which is also facing a restless activist investor, agreed last year to sell its iconic Lord & Taylor building in Manhattan and unload a minority share to a private equity firm to reduce debt. — BLOOMBERG NEWS



Walmart pulls Cosmopolitan magazine from checkout aisles

Walmart is pulling Cosmopolitan magazine from its checkout counters, bowing to pressure from an activist group that sees the publication’s racy covers as “sexploitation.” The world’s largest retailer will now sell the Hearst Corp. publication just in its magazine aisle, spokesman Randy Hargrove said. The National Center on Sexual Exploitation — a group with roots in fighting pornography — said it had been working behind the scenes with the retailer for months on the decision, which makes Walmart’s checkout aisles “family friendly.” When asked about Walmart’s move, the media company said that Cosmopolitan is focused on empowerment. “Cosmopolitan is the most successful global media brand for young women, with award-winning content produced by leading female journalists,” Hearst said. “We are proud of all that the brand has achieved for women around the world in the areas of equality, health, relationships, career, politics, and social issues.” — BLOOMBERG NEWS



Walgreens completes takeover of Rite-Aid

The retail industry may be ailing, but for Walgreens Boots Alliance Inc. the cure is more pharmacies. The drugstore has completed its takeover of 1,932 new stores from a deal last year with Rite Aid Corp. While same-store sales in the front of Walgreens’ US drugstores, where customers buy items like toilet paper and toothpaste, fell 2.7 percent in the fiscal second quarter, sales at the pharmacy counter in the back of the store grew 5.1 percent. — BLOOMBERG NEWS


BlackBerry revenue grows on software sales

BlackBerry Ltd. set a record quarter for software revenue, further cementing recent success the company has had in winning corporations over to its new nonphone offerings. Revenue was $239 million, beating the average estimate of $215.5 million and overshooting even the most optimistic analyst prediction. Software revenue was $218 million, and 70 percent of that was recurring, as opposed to one-time licensing payments. Chief executive officer John Chen has worked to establish the company as a serious security software provider in a range of different product lines, such as systems to manage an entire company’s stable of mobile phones, or to let cars securely update their entertainment systems. —BLOOMBERG NEWS



Lululemon sales rise on online sales

Lululemon Athletica Inc.’s sales accelerated faster than expected last quarter, helped by booming e-commerce orders, sending the company’s shares on their biggest rally in almost 10 months. The yoga-wear maker posted comparable-sales growth of 11 percent, accounting for currency effects and direct-to-consumer channels. Quarterly revenue and profit beat estimates, easing concerns that a CEO shuffle would disrupt its performance. Lululemon is pushing to create more innovative products, attract more male customers, and expand internationally. But the February resignation of Laurent Potdevin, who the company said had behaved unprofessionally, has threatened to distract from these efforts. — BLOOMBERG NEWS


New cars in EU will have system to call emergency services after an accident

All new cars in the European Union will need to have a special system that automatically calls the emergency services in case of an accident. Erik Jonnaert, the secretary general of the ACEA car manufacturers’ association, said Wednesday that the eCall system ‘‘has the potential to save many lives by shortening the reaction time of emergency services.’’ Sensors in the car automatically transmit its location, the exact time, and direction it was headed in when the accident happens. The eCall system was approved by the 28-nation EU in 2015, and the three-year transition period ends this weekend. — ASSOCIATED PRESS