The increase in the price of Apple shares may be attributed to solid earnings of the company and the announcement of a 7-to-1 split by the company. The stock of the tech giant went beyond the $600 level during after-hour trading recently. This is the first time the shares of the company reached this level […]
Consumers will now have the opportunity to check whether shops, restaurants, museums and similar establishments accept payments done using Bitcoins by visiting Yelp. The reviews website already offers the location, business hours, user ratings, delivery service and other information for consumers to facilitate their purchases. However, consumers will have another piece of information they can […]
The earnings of Citigroup for the first quarter reached $3.9 billion or $1.23 per share, which was higher than what was initially expected by analysts. Revenues of the global bank also reached $20.1 billion. The announcement came as another fraud case worth around $30 million was discovered by the bank at its unit in Mexico. […]
A new bill that Rep. Steve Stockman aims to introduce will require sales tax for the use of the Bitcoin. The proposed bill will be called the Virtual Currency Tax Reform Act, which may change the mandate of the IRS and how the agency will deal with virtual currencies. Stockman said it is a nascent […]
Michael Walkley of Canaccord Genuity revealed that BlackBerry may continue to incur losses until the 2016 fiscal year. The analyst is expecting losses for the mobile device manufacturer to continue in the next two years. Although he was impressed with the cost-cutting measures implemented by the company, Walkley indicated that the long-term plans of the […]
A pledge of $1 billion was made by Cisco Systems Inc in the next two years as the company indicated that it aims to join the market currently dominated by Amazon.com Inc. The company will use the amount in creating data centers that will facilitate the operation of Cisco Cloud Services news service. The company […]
An initial public offering is being planned by the Alibaba Group Holding Ltd in the United States by the third quarter, according to sources familiar with the plan. The IPO is expected be valued over $15 billion. The e-commerce giant from China also discussed with Securities and Futures Commission and the Hong Kong exchange for […]
A temporary bankruptcy protection was granted to Mt. Gox recently, which held back a pair of lawsuits in the US against the Tokyo-based Bitcoin exchange. The motion for provisional relief of the company under Chapter 15 was approved by Judge Harlan Hale. It allowed the exchange to continue operations while fending off lawsuits. Chapter 15 […]
An open letter was issues by Carl Icahn to the shareholders of eBay that criticized the board and managers of the online commerce company for numerous alleged lapses and conflicts of interests. The activist investor indicated on the letter that the complete indifference to accountability within the company was the most obvious he has ever […]
An apology was extended by Japan-based Mt. Gox for putting a hold on withdrawal requests for Bitcoins. The exchange also revealed that it will allow the resumption of withdrawals soon. The distressed exchange indicated that a workaround was developed for the glitch on how transactions are handled. The Tokyo virtual currency exchange announced the suspension […]
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