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Economics News

Economics News continually updated from thousands of sources around the net.

3 hrs ago | TheCourier.com

Ex-official leaves huge debt for California city

A judge also ordered former Bell city manager Robert Rizzo to make $8.8 million in restitution, but prosecutors say that only covers the money he illegally took for himself.

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Related Topix: Bankruptcy, Los Angeles County, CA, Federal Prisons, Prison, State Prisons

7 hrs ago | Sunherald.com

Detroit still needs $350M from state lawmakers

The city has an $816 million pledge from foundations, philanthropists and Gov. Rick Snyder to shore up pension funds and prevent the sale of city-owned art as part of Detroit's strategy for exiting the largest public bankruptcy in U.S. history.

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Related Topix: Michigan, Michigan Government, US Governors, Rick Snyder, Bankruptcy

11 hrs ago | Viking FM

Mt Gox Bitcoin Exchange Heads For Liquidation

A court-appointed administrator confirmed the rejection and said CEO Mark Karpeles is also likely to be investigated for liability in the collapse of the Tokyo-based firm.

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Related Topix: Bitcoin, Bankruptcy

12 hrs ago | KCRA-TV Sacramento

Detroit reaches deal limiting pension cuts

Once you're logged in, at the top of each article, video or slideshow you will see a list of your Facebook friends who recently visited Choose to share stories you'e read with your friends or turn sharing OFF to keep your reading experience anonymous .

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Related Topix: Pension, Personal Finance, Bankruptcy, Retirement

16 hrs ago | Brandon Sun

Mt. Gox bitcoin exchange headed for liquidation after court rejects bankruptcy protection

Mt. Gox said Wednesday the Tokyo District Court decided the company, which was a trading platform and storehouse for the bitcoin virtual currency, would not be able to resurrect itself under a business rehabilitation process filed for in February.

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Related Topix: Bitcoin, Bankruptcy

16 hrs ago | Iol.co.za

China gains first bitcoin ATM

BTC China, one of the country's leading digital currency exchanges, has installed China's first bitcoin ATM and launched an online app allowing individuals to buy and sell bitcoins using mobile phones, skirting local banking regulations seen as increasingly hostile to so-called crypto-currencies.

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Related Topix: Bitcoin

20 hrs ago | Sunherald.com

Miss. man pleads not guilty in bankruptcy fraud

Federal prosecutors said that after William "Butch" Dickson company, Community Home Financial Services, filed for Chapter 11 bankruptcy protection, the 57-year-old wired nearly $9.1 million from company accounts to a bank in Panama.

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Related Topix: Bankruptcy, Home, Mortgage, Personal Finance, Prison

Tue Apr 15, 2014

National Public Radio

GM To Ask Bankruptcy Court For Lawsuit Protection

General Motors revealed in court filings late Tuesday that it will soon ask a federal bankruptcy judge to shield the company from legal claims for conduct that occurred before its 2009 bankruptcy.

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Related Topix: Bankruptcy, Corpus Christi, TX

Sydney Morning Herald

Australia's first bitcoin ATM launched

Australia's first bitcoin ATM has gone live in central Sydney, allowing passersby to buy and sell the digital currency and exchange it for cash.

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Related Topix: Bitcoin

Dallas Morning News

EFH delays 10-K again, negotiations with creditors continue

Energy Future Holdings has delayed filing its 10-K earnings statement yet again, as the Texas power giant continues to negotiate with creditors ahead of a bankruptcy filing.

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Related Topix: Bankruptcy, US Securities and Exchange Commission, Financial Services, Corporate / Securities Law, Law, TXU, Energy

WTNH

Textbook publisher quits Stamford for Boston

The company, which emerged from Chapter 11 bankruptcy protection this month after restructuring its finances, will locate 500 jobs in Boston and is looking to add about 50 full-time jobs.

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Related Topix: Bankruptcy

WISH-TV Indianapolis

Firm nears takeover of Indiana Limestone Co.

An investment firm is the only bidder to take over a southern Indiana company that supplied limestone to the Empire State Building, the Pentagon and other iconic buildings.

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Related Topix: Bankruptcy

Detroit Free Press

City of Detroit close to pension deal, which could pave way for bankruptcy exit

The City of Detroit is nearing a deal with groups representing retirees on pension cuts.

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Related Topix: Pension, Personal Finance, Detroit, MI, Bankruptcy, Retirement

Click2Houston

What is a bitcoin?

ALSO AIRPORTS IN DALLAS AND ATLANTA HAD MORE. WARREN BUFFET CALLS THEM A JOKE. FRANKLY THAT'S GOOD ENOUGH FOR ME.

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Related Topix: Bitcoin

Mon Apr 14, 2014

Reuters

Mt. Gox founder won't appear in U.S. for questions about bankruptcy case

Mark Karpeles, the founder of Mt. Gox, said he would not come to the United States to answer questions about the Japanese bitcoin exchange's U.S. bankruptcy case, Mt.

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Related Topix: Bankruptcy, Bitcoin

Reuters

Bitcoin promoter Shrem indicted in NY for money laundering

Prominent bitcoin entrepreneur Charlie Shrem has been indicted by a federal grand jury in New York on charges of funneling cash to the illicit online marketplace Silk Road.

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Related Topix: Bitcoin, New York

Northern Michigan News

Free Press columnist wins Pulitzer for commentary

Detroit Free Press columnist Stephen Henderson has been awarded a Pulitzer Prize for his commentary on the city's financial crisis, it was announced Monday.

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Related Topix: Columbia University, Journalism, Detroit, MI, Bankruptcy

Patch.com

Coldwater Creek Files for Bankruptcy, Will Close Stores

By Liz Taurasi Stricken with declining sales, a severe cash crunch and mounting debts, women's retailer Coldwater Creek announced it has filed for Chapter 11 bankruptcy protection and all stores would be closing.

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Related Topix: Bankruptcy, Rolling Hills Estates, CA

Dallas Morning News

Highland Capital can't sue over exclusion from Lyondell's $1 billion loan deal

Dallas-based hedge fund Highland Capital Management LP can't sue UBS Securities LLC for being excluded from a $1 billion syndicated loan in the Lyondell Chemical Co.

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Related Topix: Oil & Gas, Chemicals, Lyondell Chemical, Bankruptcy, Stamford, CT

The Red Ferret Journal

Safecracking For Everyone - learn how to crack a safe in hoursa or maybe daysa ?

So you're perhaps looking for a little sideline, to help grab a little extra petty cash? Maybe something you can do late at night, to let you keep your day job? Well why not splash out, avoid those nasty taxi cab jobs and learn a new trade which could really give you some financial freedom? Safecracking For Everyone is a book of very little length ... (more)

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Related Topix: Bitcoin

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