The Electrolux washing machine factory in Italy now makes less than half of the machines they did before Italy’s entrance to the EU. This is a sign of the industrial decline of Southern Europe.
The US job market rebounded from a 2-month slump in February as employers added 175,000 jobs, though the unemployment rate rose from 6.6% to 6.7%. The report by the Labor Department on Friday beat expectations, pumping up stock futures ahead of the market’s opening bell.
Japan will set out rules this week on how to handle Bitcoins, the first sign that the government is taking action on regulating the virtual currency after the collapse last week of the Tokio-based exchange MtGox.
If Scotland were to vote for independence, both the Royal Bank of Scotland and Lloyds could be forced to move their registered offices or legal homes to London under European Union Law, a senior banker has said. A directive says that banks must have their head offices “in the same member state as its registered office”.
Flexcoin, a wallet and banking service that lost 896 bitcoins to attackers, announced it will be shutting down. It has promised to return funds to customers as soon as possible. This is another blow to the bitcoin ecosystem, though Flexcoin was not as central to the economy as Mt. Gox.
Bill Gates has once again become the world’s richest person on the Forbes billionaires list, 4 years after he fell from the top spot. His net worth of $76 billion, up from $67 billion in 2013, beat telecom mogul Carlos Slim Helu, who fell to the second spot.
Increased demand for housing has made prices in Nanjing shoot through the roof. Analysts said that Beijing needs to do more to cool down the market.
Netflix and Comcast have signed a multiyear paid contract that gives Netflix’s traffic a more direct route to Comcast’s network, according to the Wall Street Journal. Comcast has confirmed the deal without mentioning any financial aspect.