PayPal president David Marcus played down the factors Bitcoin obtained in recent months as a potential currency and insisted that it is rather an asset, according to a VentureBeat article.
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JC Penney trims high-profile brands in favor of its own labels
JC Penney Co Inc CEO Mike Ullman told Reuters exclusively that the company is planning to dispose and trim some of its top name brands like Joe Fresh clothes and its own jcp menswear in order to focus on brands that generate more sales for the company.
Mizuho targets hedge funds as Japan bonds trade below value
Mizuho Financial Group Inc were said to be focusing on hedge funds as its potential buyers of corporate bonds at the height of the securities trading at below face values, Bloomberg said in its report.
Stanley Fischer as Fed vice chair is financial markets' gain - report
A report by former investment banker and Wall Street observer Robert Lenzner highlighted the points why financial markets should welcome the appointment of a conservative and experienced economist like Stanley Fischer a vice chair of the US Federal Reserve.
Yahoo apologizes, Mayer backs claim that Mail service is back
In a note to its users via its Help page, the team at Yahoo Inc said its Mail service is now back for most of the users, and is working to restore its IMAP access to achieve full functionality of the free Web service.
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Detroit-based company said yesterday on a conference call that the departure of its chief executive officer Dan Akerson was personal, as his wife of over 40 years has been diagnosed with advanced cancer.
Hollywood actor Leonardo DiCaprio has invested an undisclosed amount in Monaco-based electric car startup Venturi Automobiles and co-founded a new electric racing team which will compete in the Formula E series next September.
Lakshmi Mittal, chief executive officer of ArcelorMittal, is negotiating with infrastructure company GMR Group to acquire a stake in Delhi Daredevils. The cricket team plays in the Indian Premier League.
General Motors Co. has named Mary Barra as new chief executive officer a day after the US government exited its final shares of GM. Barra will replace GM CEO Dan Akerson who is retiring on January 15.
Chilean business tycoon and billionaire Alvaro Saieh said no proceeds that will be raised from an eventual stake sale of Corpbanca will be utilized to fund it sister firm SMU SA, a Bloomberg report said.
Bart Chilton, member of the Commodity Futures Trading Commission, said the Volcker rule on proprietary trades will most likely take in effect before 2015, as said in a Reuters report.
Head William Dean Chapman Reston of Virginia-based firm Alexander Capital Markets was found guilty of defrauding its investors including US Representative Alan Grayson of more than USD35 million in a loan scheme, Reuters said in a report.
Yoga-inspired athletic apparel firm Lululemon Athletica said Founder Chip Wilson will be stepping down as Chairman. He will be replaced by Michael Casey, the Lead Director of the Board.
Thomas Moore of Standard Life Investments has increased his fund's holdings in UK companies, betting that they will give better payouts in 2014, a Bloomberg report said.
