Globalization

World’s largest Bitcoin exchange suspends US withdrawals

World’s largest Bitcoin exchange suspends US withdrawals

For the next two weeks Bitcoin users in the US will be unable to withdraw the virtual currency in dollars. Major exchange Mt. Gox cited an unusually high demand as the reason for the suspension, while customers worried the company has run out of cash. Mt. Gox, based in Tokyo, Japan, handles approximately 80 per […]

Stop, thief! Run on ATMs in Cyprus as govt mulls savings tax

Stop, thief! Run on ATMs in Cyprus as govt mulls savings tax

Panic withdrawals hit Cyprus after officials announced bailout terms viewed as ‘robbery’ by the public, as the UK is reportedly ready to protect British depositors’ savings. The adage ‘the best way to rob a bank is to own a bank’ has perhaps never before held more truth than now. On Saturday, Cypriot deposit-holders got a […]

Silicon Valley mulls creation of floating colony in the Pacific

Silicon Valley mulls creation of floating colony in the Pacific

Two American entrepreneurs have made plans to build a floating colony in the Pacific Ocean, where they will bring the world’s most intelligent scientists that are unable to attain a visa to enter the US. The floating colony, which will consist of a large cruise ship parked 12 miles off the Californian coast, will host […]

PETA mad about bombing Guam with dead mice

PETA mad about bombing Guam with dead mice

The US government’s plan to bomb Guam with poisoned dead mice has sparked outrage among animal rights activists who have referred to the plan as a “clumsy dangerous massacre” of the snakes that have made their home on the island. People for the Ethical Treatment of Animals (PETA), a Virginia-based animal rights organization, has condemned […]

US unemployment rises in another indication of weak economy

US unemployment rises in another indication of weak economy

The US unemployment rate is on the rise again, with 12,3 million Americans with no job even according to the official statistics, bringing the unemployment rate to 7.9 percent. The unemployment rate rose from 7.8 in December to 7.9 percent in January, leaving 100,000 more Americans unemployed , according to the US Bureau of Labor […]