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Court Reverses Fed Rule Limiting Debit Card Fees

WASHINGTON (UPI) — A U.S. Appeals Court overturned a lower court ruling that asked the Federal Reserve to rewrite rules governing the fees banks charge for a credit card swipe. A U.S. District Court had ruled last July that the Fed had been too lenient and set the cap for such fees too high under […]

Mt. Gox Has Found 200,000 Bitcoins Worth Around $114 Million

TOKYO (UPI) — Mt. Gox, a Bitcoin exchange in Tokyo, has said that it has found 200,000 bitcoins in an old-format wallet, or digital storage file, of the nearly 850,000 bitcoins it lost last month. Last month, Mt. Gox said that it had lost 750,000 of its customers’ bitcoins and 100,000 of its own, worth, […]

Fitch Downgrades Russia’s Debt From Stable To Negative

MOSCOW (UPI) — Fitch Ratings lowered Russia’s debt rating Friday from stable to negative, citing possible impacts of sanctions imposed due to Russia’s reunification of Crimea. “Since U.S. and [European Union] banks and investors may well be reluctant to lend to Russia under the current circumstances, the economy may slow further and the private sector […]

Netflix CEO: Reluctantly Paid Comcast For Streaming Deal

LOS GATOS, Calif. (UPI) — Netflix CEO Reed Hastings said Thursday that he strongly supports net neutrality rules and that they reluctantly paid Comcast to seamlessly stream their content. The new agreement with Comcast would have Netflix install dedicated servers that connect directly with Comcast’s network and will ensure smooth streaming for their subscribers. The […]

Starbucks To Start Selling Alcohol After 4 P.M.

SEATTLE (UPI) — Starbucks announced that it will sell bottled wine and beer at thousands of its locations in a program called Starbucks Evenings, but the booze will begin to flow only after 4 p.m. The cafe chain, which spruced up its food and beverage offerings for lunch and late afternoons, is looking at attracting […]

Fed: Stress Tests Show Banking System Stronger

WASHINGTON (UPI) — The 2014 stress tests show the largest U.S. banks would better withstand a severe economic slump now than they did in 2008, the Federal Reserve said Thursday. The Fed released the results of the tests, which involve determining how banks would fare in various scenarios. In the most severe, banks would lose […]

Twitter To Celebrate Its 8th Birthday By Letting Users See Their First Tweet

SAN FRANCISCO (UPI) — On the occasion of its eighth birthday, Twitter is allowing users to look at their first tweet to judge whether it was funny, intelligent or dull. The social network is making available a tool that will instantly pull up users’ first tweet. Users have the option of re-broadcasting their first tweet, […]

Ex-Microsoft Employee Arrested For Leaking Windows 8 Code

SEATTLE (UPI) — A former Microsoft employee has been arrested and charged with allegedly leaking Windows 8 code to a tech blogger, officials in Seattle said. Software architect Alex Kibkalo was arrested Wednesday and charged with theft of trade secrets, the Seattle Post-Intelligencer reported Thursday. Investigators said Kibkalo, a Russian national who worked in Seattle […]

Initial Jobless Claims Rise Slightly To 320,000

WASHINGTON (UPI) — The number of Americans filing jobless claims held steady last week and rose slightly to 320,000, as the effects of the severe weather seem to be easing. The number of people filing for first-time claims rose by 5000 from the previous week’s figure of 315,000. The median forecast according to 41 economists […]

Fed Cuts Back Bond-Buying Program, Revises Guidance On Lending Rates

WASHINGTON (UPI) — The Federal reserve has discarded the jobless rate threshold for considering when to raise borrowing costs and will also scale back its bond-buying program. During the second day of the Federal Open Market Committee, the dollar continued to post gains after the Fed announced that it would scale back its bond purchases […]


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