Why drop $50,000 revenue in ads per day ?

The popular game for mobile devices was removed from online stores on Sunday by its Vietnamese creator, who said its fame “ruins my simple life”.

Dong Nguyen, who created the game in just two to three days, was making as much as $50,000 (£30,482) a day from the game’s advertising revenue.

In several Twitter posts, he said the game’s removal was not due to legal issues and that he may make a sequel.

http://www.bbc.co.uk/news/technology-26114364

http://www.bloomberg.com/video/

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Bitcoin Foundation Blames Mt. Gox for Withdrawal Stoppage

The Bitcoin Foundation said the Mt. Gox Bitcoin exchange in Tokyo is to blame for technical faults that prevented customer withdrawals of the virtual currency that lost as much as 21 percent of its value today.

“The issues that Mt. Gox has been experiencing are due to an unfortunate interaction between Mt. Gox’s implementation of their highly customized wallet software, their customer support procedures and their unpreparedness,” said Gavin Andresen, chief scientist for the foundation, which promotes and sets technical standards for the currency.

 

http://www.bloomberg.com/

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  • 78
    The price of the digital currency bitcoin slid to its lowest level in nearly two months on Monday after bitcoin digital marketplace Mt. Gox said a halt on withdrawals it announced on Friday would continue indefinitely after it detected "unusual activity." http://www.reuters.com
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Bitcoin plunges after major platform indefinitely halts withdrawals

The price of the digital currency bitcoin slid to its lowest level in nearly two months on Monday after bitcoin digital marketplace Mt. Gox said a halt on withdrawals it announced on Friday would continue indefinitely after it detected “unusual activity.”

http://www.reuters.com

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When Will the Fed End Its Zero Rate Policy?

U.S. Treasury yields and other interest rates increased in the months leading up to the Federal Reserve’s December 2013 decision to cut back its large-scale bond purchases. This increase in rates probably at least partly reflected changes in what bond investors expected regarding future monetary policy. Recent research on this episode tentatively suggests that investors moved earlier the date when they believed the Fed would exit its zero interest rate policy, even though Fed policymakers made few changes in their projections of appropriate monetary policy.

http://www.frbsf.org/

 

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Bitcoin bug causes massive sell-off

A bug in the bitcoin software that makes it possible to alter transaction details over the network has caused panic-selling among holders of the crypto-currency, sending prices crashing below the $600 mark on Monday morning.

http://www.finextra.com/news/fullstory.aspx?newsitemid=25707

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How to hedge yourself against shakes from Asia’s biggest economy China

The global financial crisis did not start in 2008 but in 2007 when BNP Paribas and UBS AG suspended withdrawals from some of their funds.

If the world is once again buffeted by a similar crisis thanks to the enormous splurge in Chinese lending and fears about the quality of lending in the giant shadow banking industry, then historians will look back at January 2014 when a fund promoted by Industrial and Commercial Bank of China ( ICBC) came close to default.

Read more at:
http://economictimes.indiatimes.com/articleshow/30131463.cms

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Turkey Struggles to Protect Its Lira

The plunge of the lira has already exposed the Turkish economy’s dependence on short-term foreign investment. Most foreign capital is invested in Turkish stocks and bonds rather than longer-term projects.

All it takes is a phone call or a few clicks of a mouse for short-term investors to move their money elsewhere, and that is what foreign investors have been doing, not only in pulling money out of Turkey but from countries like Russia, Argentina and South Africa, whose currencies have also fallen as a result.

http://www.nytimes.com/

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High-Speed Trading Isn’t About Efficiency—It’s About Cheating

When hedge funds use bots to buy and sell stocks within milliseconds, they’re not improving the market. They’re rigging the market.

 

High-frequency trading (HFT) hedge funds. These funds use computer algorithms—a.k.a.: algobots—to buy and sell stocks at incredible speeds. We’re talking milliseconds. The idea is to react to any market news or inefficiencies before actual humans can process them.

http://www.theatlantic.com/

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We all turn to data. Adios SMS and Calls

In a taxi, workshops, banking halls, under tree shades, name it – you cannot miss seeing someone on Facebook, Twitter, Skype, Kik or Whatsapp, thanks to the increasing popularity of internet-enabled phones and smartphones.

Evidence can be found in the news of the planet.

Informa Telecoms & Media has predicted that global annual SMS revenues will fall by US$23bn by 2018, to US$96.7bn, down from US$120 billion in 2013.

Belgian operator Proximus recorded a drop in SMS traffic over the New Year holiday. Traffic was down 9 percent froAccording to initial figures from

Spanish operator Yoigo reported that 8 percent more customers used mobile data services over the New Year’s holiday, and data used per customer rose 170 percent from a year earlier.

 

France’s mobile operators, the new year brought further evidence that SMS usage in the country is being increasingly cannibalised by alternative services such as MMS or picture messages and over-the-top messaging apps.

If you think that telecom provider will rise the cost to compensate then you probably miss that in Europe there will be no more roaming cost soon.

“From July 2014 you would no longer be charged extra when you receive a call on your mobile phone while travelling in another EU country. Companies would need to offer “roam like at home” packages that apply across the bloc, or allow you to use a separate roaming provider without changing your original SIM card.”

Telecoms are not simply sitting back to watch their revenues from voice calls and SMS shrink. They have shifted goalposts towards data, with solid competition for the internet subscribers expected.

Ready for this trend ?

So how will telecom companies react to this ?

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Why do America’s Newspapers Getting Bought Up by Billionaires ?

Jeff Bezos, John Henry, Warren Buffett, they are good businessmen. If they are such bad deals, why do good businessmen want them so badly?

Warren Buffett loves newspapers. He’s not looking to change the newspaper business, ditto for John henry. But Jeff Bezos wants to experiment. He wants to shift this medium and help it into the new age.

Warren Buffett’s explains his rationale for this strategy of a hyper-local approach this way:

Newspapers continue to reign supreme in the delivery of local news. If you want to know what’s going on in your town – whether the news is about the mayor or taxes or high school football – there is no substitute for a local newspaper that is doing its job. A reader’s eyes may glaze over after they take in a couple of paragraphs about Canadian tariffs or political developments in Pakistan; a story about the reader himself or his neighbors will be read to the end. Wherever there is a pervasive sense of community, a paper that serves the special informational needs of that community will remain indispensable to a significant portion of its residents.

Newspapers Are Billionaires’ Latest Trophies

America’s Newspapers Are Getting Bought Up by Billionaires

Before Bezos: The Billionaires Who Own America’s Newspapers

http://www.businessinsider.com/warren-buffett-buying-newspapers-2013-3

Can Billionaires Like Jeff Bezos and John Henry Save Newspapers?

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