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Toys R Us reaches rescue deal with creditors

Toys R Us reaches rescue deal with creditors

Business
Toys R Us has been saved from collapse after creditors supported a rescue deal that will keep three quarters of its stores open.The Pension Protection Fund (PPF) had initially threatened to block the company's plan in a move that could have forced the country's biggest toy chain into administration just ahead of Christmas - placing 3,200 jobs at risk.But, following a series of talks, the PPF said it had secured acceptable commitments from Toys R Us that enabled it to support the so-called Company Voluntary Arrangement (CVA).Sky News had reported exclusively on the ebbs and flows in the negotiations in the days and hours ahead of the meeting - with the result on a knife-edge until the announcement.The firm had said early this month that it wanted to shut 26 stores - a quarter of its UK tota...
Bitcoin reaches $11K before dropping 18 percent

Bitcoin reaches $11K before dropping 18 percent

World
Nov. 29 (UPI) -- Bitcoin hit a new high of $ 11,000 on Wednesday before dropping back down about 18 percent.After starting the year with a value of $ 1,000, the digital currency's value has increased some 10-fold.As of Wednesday afternoon, CoinDesk reported the value of bitcoin was about $ 9,290. It hit a record high of $ 11,388.33 earlier in the day.The increased volume in trading -- $ 9.75 billion over the past 24 hours -- came as The Wall Street Journal reported that Nasdaq is considering trading bitcoin in the first half of 2018. Broker Cantor Fitzgerald LP is also thinking of including bitcoin on its exchange.Beginning next month, the cryptocurrency will gain more legitimacy in the financial industry as investors will be able to trade bitcoin futures via the Chicago Mercantile Exchang...
Bitcoin reaches $10,000 valuation for first time

Bitcoin reaches $10,000 valuation for first time

Technology
A single Bitcoin has hit $ 10,000 (£7,495) for the first time despite fears of a bubble.The cryptocurrency hit $ 5,000 (£3,750) for the first time in October and in the brief period since then has doubled in value again.It traded at $ 10,009 on the CEX exchange on Tuesday morning before dropping back down.Over this calendar year, the digital cash has increased 1,000% in value and is continuing to attract investors.Despite concerns that a bubble in the cryptocurrency's value has been driven by increasing investment from those who fear they are missing out, investors continue to buy in to the digital means of exchange.Bitcoin has surged through a number of symbolic milestones in recent weeks, showing an exponential curve on value-tracking charts.However, as the World Coin Index image chart b
Lockheed test pilot reaches 100 hours in proposed 5th generation trainer

Lockheed test pilot reaches 100 hours in proposed 5th generation trainer

Business
Nov. 8 (UPI) -- Lockheed Martin announced Wednesday that their test pilot, Lt. Col. Mark "Red" Ward, a retired U.S. Air Force officer, reached a new milestone by becoming the first pilot to reach 100 flight hours in the T-50A, Lockheed's advanced pilot training.The T-50A is aimed at training future pilots for 5th generation aircraft such as the F-22 Raptor and F-35 Lighting II."This has been a great opportunity to be involved in a project that is so important to the U.S. Air Force and the foundation for pilot training," Ward said. "It's a great plane to fly and will make an excellent trainer for generations of pilots to come."The T-50A is similar to flying the F-16, as well as the F-22 and F-35, as it "creates better pilots, in less time, for less cost by enabling student pilots to focus t...
Canada's immigrant population reaches 21.9 percent, expected to grow

Canada's immigrant population reaches 21.9 percent, expected to grow

World
Oct. 26 (UPI) -- Canada's immigrant population has risen to 21.9 percent, the highest number in more than 80 years, and it's expected to get higher, according to Canada Census figures released Wednesday.The current number marks a significant increase since 2006 when Canada's immigrant population was 19.8 percent. And it's the highest since 1921, when Canada's immigrant population was at 22.9 percent, reported the CBC.With a current total population of about 36 million, Canada allowed 1.2 million immigrants between 2011 and 2016, with approximately 30 percent arriving through the country's skilled worker program.Almost half -- 48 percent -- of Canada's immigrant population came from Asia, according to Statistics Canada numbers. Europeans accounted for 21 percent. Latin America, the Caribbea...