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Tokyo Court Orders Bankruptcy Trustee To Begin Mt. Gox Liquidation

Tokyo District Court ordered liquidation to begin at failed bitcoin exchange Mt. Gox, the company said on Thursday, after the bankruptcy administrator said on April 16 that it would be difficult to rehabilitate the firm, Reuters reported. Mt. Gox, once t ...

Daily Headline - global.abi.org - 04/24/2014 - 22:43 - 0 comments

Chinese Bad-Loan Ratio Rises ‘Significantly,’ Huarong Says

China’s bad-loan ratio rose “significantly” in the first quarter, increasing risks for the nation’s banking industry, according to the nation’s largest manager of soured debt, Bloomberg News reported. The business environment this year has been “grim and ...

Daily Headline - global.abi.org - 04/22/2014 - 21:58 - 0 comments

Bank Defaults Seen as Dark Side of Deposit Vows: China Credit

Chinese Premier Li Keqiang’s plan to introduce deposit insurance is meant to comfort the nation’s savers as bad loans mount. In the bond market, it’s fueling speculation he’s preparing to let some banks collapse, Bloomberg News reported. Authorities may ...

Daily Headline - global.abi.org - 04/21/2014 - 00:03 - 0 comments

Some Mt. Gox Customers Want CEO Out During Bankruptcy

Mt. Gox customers with frozen bitcoin accounts are targeting Chief Executive Mark Karpeles, arguing in court papers he is unfit to lead the Japanese bitcoin exchange through its U.S. bankruptcy case, The Wall Street Journal reported. In papers filed ...

Daily Headline - global.abi.org - 04/21/2014 - 00:04 - 0 comments

Beijing Should Bankroll Restructurings, Former PBOC Adviser Says

Facing a growing problem of debt defaults, the Chinese government should deploy 100 billion to 200 billion yuan ($16 billion to $32 billion) this year to help restructure indebted companies, a former adviser to the central bank said Thursday, The Wall ...

Daily Headline - global.abi.org - 04/18/2014 - 00:05 - 0 comments

Mt. Gox Suitors Seek Support To Save Bitcoin Exchange

A group of investors seeking to buy Mt. Gox has launched a website to garner support from creditors of the bankrupt bitcoin exchange to prevent a liquidation of its assets, Reuters reported. "We need your help to stop a liquidation, which would be g ...

Daily Headline - global.abi.org - 04/18/2014 - 00:05 - 0 comments

MtGox Faces Liquidation After Japanese Court Rejects Bankruptcy Protection

MtGox, once the biggest bitcoin exchange in the world, is likely to be liquidated after a Japanese court denied it bankruptcy protection on Wednesday, The Guardian reported. The company's assets will be sold off and used to pay its creditors, in ...

Daily Headline - global.abi.org - 04/16/2014 - 23:07 - 0 comments

China Southern Airlines Warns of First Quarter Loss on Weaker Yuan

China's biggest airline by revenue warned it expects to report a first-quarter net loss, the first sign that the recent weakening of the nation's currency is impacting a major industry, The Wall Street Journal reported. China Southern Airli ...

Daily Headline - global.abi.org - 04/15/2014 - 23:13 - 0 comments

Japan’s Population Shrinks for Third Year as Ranks of Aged Grow

aging society, Bloomberg News reported. The population declined by 0.17 percent to 127.3 million as of ... economy faces in financing its aging society, Bloomberg News reported. The population declined by 0.17 percent to 127.3 million as of Oct. ...

Daily Headline - global.abi.org - 04/15/2014 - 23:13 - 0 comments

China Engineers ‘Potemkin Defaults’ To Mask Debt Reality

In the past two months, China has suffered its first domestic bond default in recent history and a series of small bankruptcies that have some investors fretting the country could face its very own “Lehman moment”, the Financial Times reported. But b ...

Daily Headline - global.abi.org - 04/14/2014 - 21:18 - 0 comments

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