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Economics News

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

1 hr ago | The Age

Timbercorp investors dig in on loans

Investors in Timbercorp say they will fight ''increasingly unreasonable'' legal attempts to force them to repay money they borrowed to put into the failed forestry company.

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Related Topix: Agriculture, Science, Bankruptcy

Wed Jul 23, 2014

CIO

Sale of Mt. Gox-related Bitcoins.com halted after court order

The sale of the domain Bitcoins.com, affiliated with Mt. Gox CEO Mark Karpeles, has been halted after a U.S. court order, according to the auction house.

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Related Topix: Bitcoin, Bankruptcy

Business Journal

Bankruptcy: Office condo owner files Chapter 11 to halt foreclosure auction

The upcoming foreclosure auction of 14 office condos in Coral Springs was halted after their owner filed Chapter 11. PNC Bank recently won a $7 million foreclosure judgment against Lauren Enterprises, along with managing members Ricardo M. Pedrosa and Sharon Pedrosa.

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Related Topix: Foreclosures, Bankruptcy, Coral Springs, FL

The New Zealand Herald

Bankrupt with link to Peters sues Horan

A bankrupt businessman with convictions for tax avoidance is suing independent MP Brendan Horan and RadioLive in a $650,000 defamation claim.

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Related Topix: Bankruptcy

CIO

Mt. Gox trustee leaves door open to revival of Bitcoin exchange

The trustee overseeing the carcass of Mt. Gox, once the world's largest trading platform for Bitcoin, told investors Wednesday that the company could be revived.

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Related Topix: Bitcoin, Bankruptcy

News Observer

Tupperware 2Q profit sinks 38 percent

The Orlando, Florida-based company cut its full-year earnings outlook, and Tupperware shares nearly 8 percent in morning trading Wednesday.

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Related Topix: Household Products, Tupperware

KFVS12

Bond insurers vow to fight Detroit financial plan

After a bruising nine-week runoff campaign, Georgia Republicans will finally have their Senate nominee who will compete against Democrat Michelle Nunn for a seat the GOP can ill afford to lose as the party looks to... Georgia Republicans have only a few more hours before they have a Senate nominee in a race that will help decide which party ... (more)

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Related Topix: US Politics, US News, Barack Obama, Arizona, US Supreme Court, Arizona Government, Bankruptcy

Tue Jul 22, 2014

TheDay.Com

New London to question Carter further

Before the Board of Education meets Thursday night to vote on a contract for Terrence P. Carter, its unanimous selection as the city's next superintendent of schools, it will hold a closed-door conference call to question him further about his academic record.

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Related Topix: Bankruptcy, Illinois

Vallejo Times-Herald

Bryman College owner with San Jose, Hayward schools files for bankruptcy

The owner of California's Bryman College chain -- with campuses in San Jose, Hayward, San Francisco and Los Angeles -- is in financial trouble and could close.

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Related Topix: Bankruptcy, California, San Francisco County, CA, San Francisco, CA, San Jose, CA, Santa Clara County, CA

GPB.org

Deal In Detroit Could Signal Cuts To Pensions Elsewhere

Retirees Mike Shane and William Davis protest near the federal courthouse in Detroit on July 3. Workers and retirees approved pension cuts in Detroit's bankruptcy by a landslide, the city reported Monday.

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Related Topix: Bankruptcy, City College of New York, City University of New York, Stockton, CA

KOLD-TV Tucson

Detroit retirees back pension cuts by a landslide

A man accused of enslaving a mentally disabled woman in northeast Ohio is set to be sentenced in federal court in Youngstown.

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Related Topix: World News, Palestinian Territories, Middle East, Associated Press, Bankruptcy, Rick Snyder, US Governors

WTNH

New London puts off vote on school superintendent

New London's Board of Education has postponed a planned vote to approve the contract for its new superintendent of schools.

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Related Topix: Education Etc., Bankruptcy

The Raw Story

Detroit workers, retirees vote in favor of city's debt plan

Detroit's city workers and retirees overwhelmingly agreed to accept the city's debt adjustment plan, according to results filed late Monday, potentially clearing the way for the struggling city to exit bankruptcy in the next few months.

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Related Topix: Bankruptcy, Pension, Personal Finance

Myrtle Beach Online

Bankruptcy trustee proposes Myrtle Beach-based Beach First bank...

Beach First National Bancshares' long-running bankruptcy case could be drawing to a close with a proposed settlement between the trustee and the bank holding company's former directors, but Beach First's former shareholders likely won't have much to cheer about.

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Related Topix: Bankruptcy, Myrtle Beach, SC

Mon Jul 21, 2014

Detroit News

Expert: Detroit's bankruptcy plan could be 'more feasible'

A court-appointed expert says the city's debt-cutting bankruptcy plan is feasible, but stressed Detroit needs more municipal workers and commitment from its leadership to carry out the massive restructuring.

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Related Topix: Bankruptcy

Network World

Stealthy ransomware 'Critroni' uses Tor, could replace Cryptolocker

Cybercriminals are spreading a new file-encrypting ransomware program that's more powerful and resilient than Cryptolocker, a threat recently shut down by the U.S. Department of Justice.

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Related Topix: US News, Bitcoin, Science, Computer Science, Computer Security, Cryptography, Science / Technology

WYFF-TV Greenville

Summer bummer: Six Flags attendance tanks

Only 8.2 million people went to one of Six Flags' 18 parks in April, May or June.

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Related Topix: Recreation, Cedar Fair LP, Bankruptcy

The Republic

Detroit: No water shutoffs for next 15 days

Detroit suspended its aggressive policy of cutting off water to customers with unpaid bills on Monday, the latest response to a controversy that has prompted large protests and caught the attention of the judge overseeing the city's bankruptcy.

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Related Topix: Detroit, MI, Bankruptcy

The Inquirer

Dell is now accepting Bitcoins direct

Dell has already taken payments in Bitcoin, through gift cards, or Gyft cards to use its term, but it has gone further now, partnering with Coinbase to take the virtual cash directly .

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Related Topix: Bitcoin

Cellular News

Harbinger Sues FCC for $2 Billion in Damages

Philip Falcone's Harbinger Capital Partners was the lead investor in now-bankrupt LightSquared, which had planned to build a LTE network, which would have sold capacity on a wholesale basis to the other mobile network operators.

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Related Topix: Bankruptcy

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