Bitcoin exchange MtGox to start liquidation process

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Bitcoin exchange MtGox to start liquidation process

TOKYO (AFP) -- Failed Bitcoin exchange MtGox, whose spectacular collapse hammered the digital currency's reputation, is to be liquidated after a Japanese court on Thursday ordered the start of bankruptcy proceedings, said a lawyer appointed to carry out the process.The global virtual curr...

Updated : 2014.04.24 21:43

Facebook profits triple as mobile soars

NEW YORK (AFP) ― Facebook profits tripled to $642 million in the first quarter on a 72 percent surge in revenues helped by strong gains in mobile users and mobile advertising.Demonstrating that it is...

Updated : 2014.04.24 20:45

Retailers ‘failing victims’ a year after Bangladesh disaster

DHAKA (AFP) ― Western fashion brands faced pressure Thursday to honor promises to care for Bangladesh’s victims of the world’s worst garment factory accident, ahead of protests on the first anniversary of the disaster that cost 1,138 lives.Workers are set to stage demonstrations in fron...

Updated : 2014.04.24 20:45

China opens door for more investment

BEIJING (AP) ― China’s government says it will open 80 projects in eight state-run industries to private and foreign investors as part of efforts to make its slowing economy more productive.The announcement late Wednesday is the latest in a series of policy changes aimed at carrying out ...

Updated : 2014.04.24 20:44

IMF agrees $17 billion loan to Ukraine

International Monetary Fund staff endorsed a $17 billion loan to Ukraine to help the government pay its debts amid a projected economic contraction of 5 percent this year, according to government offi...

Updated : 2014.04.24 20:43

Eurozone deficits improve, debt mounts as crisis fades

BRUSSELS (AFP) ― Eurozone public finances improved in 2013 as the economy finally turned the corner on a record recession but total debt levels remained dangerously high, official data showed on Wedn...

Updated : 2014.04.24 20:43

Investor pressure pushes M&A deals of drugmakers

NEW YORK (AP) ― Drugmakers eager to satisfy shareholders by boosting profits and share prices are wheeling, dealing and in one case even making trades like a pro sports team looking to shake up its r...

Updated : 2014.04.23 19:52

China factory activity signals economic weakness

A Chinese manufacturing gauge signaled a fourth month of contraction, indicating that government efforts to counter an economic slowdown have had only a limited impact. The preliminary Purchasing Mana...

Updated : 2014.04.23 19:51

Powdered alcohol for U.S. market hits label snag

WASHINGTON (AFP) ― A powder that would give new meaning to mixed drinks may take time to hit the U.S. market, the company said Tuesday after regulators found a labeling problem.Palcohol ― a powdered alcohol product ― is made by an Arizona company called Lipsmark and will come in six var...

Updated : 2014.04.23 19:51

Apple gets greener

SAN FRANCISCO (AP) ― Apple is offering free recycling of all its used products and vowing to power all of its stores, offices and data centers with renewable energy to reduce the pollution caused by ...

Updated : 2014.04.22 20:44

Novartis to buy GSK’s cancer drugs for $16b

Novartis AG agreed to buy GlaxoSmithKline Plc’s cancer-drug business for as much as $16 billion, form a consumer-health venture with Glaxo and sell its animal-health unit to Eli Lilly & Co. for $5.4 billion in an overhaul of the Swiss drugmaker. Novartis also will sell its vaccines busine...

Updated : 2014.04.22 20:44

Russia closes 4 Ukrainian banks in Crimea amid integration push

Russia closed four Ukrainian lenders in Crimea as it pushes to integrate the Black Sea peninsula, following a weekend of violence in eastern Ukraine that the countries blamed on each other. The Russia...

Updated : 2014.04.22 20:43

Warmer weather gives lift to U.S. economy

WASHINGTON (AP) ― Spring’s thaw is reviving the economy, too. A recent batch of government and business reports show a U.S. economy emerging from winter’s deep freeze. Economists had expected growth to accelerate in 2014 after two years of slow and steady improvement. But an unusually b...

Updated : 2014.04.22 20:42

Citigroup seeks to sell 50 branches in California

Citigroup Inc. is seeking buyers for about 50 branches holding $3 billion of deposits in California as the third-largest U.S. lender pares brick-and-mortar outlets, said three people involved in the p...

Updated : 2014.04.22 20:42

Carmakers unveil China-focused models at Beijing auto show

BEIJING (AP) ― Ford Motor Co. on Sunday unveiled a new Escort sedan designed in China for global sale at a Beijing auto show that highlighted the growing influence of Chinese tastes on the industry.A...

Updated : 2014.04.21 21:00