Reuters - Business Today

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Friday, December 22, 2017

Bitcoin plunges below $13,000, heads for worst week since 2013

LONDON/TOKYO (Reuters) - Bitcoin plunged below $13,000 on Friday after losing around a third of its value in just five days, with the digital currency on track for its worst week since 2013 after a blistering ascent to a peak close to $20,000 on Sunday.

U.S. consumer spending rises more than expected; savings lowest since 2008

WASHINGTON, Dec 22 (Reuters) - U.S. consumer spending accelerated in November amid an increase in demand for recreational goods and utilities, but the strong pace of consumption is unlikely to be sustained as savings dropped to their lowest level in more than nine years.

In Silicon Valley, much-feared tax bill pays dividends for workers

SAN FRANCISCO (Reuters) - The U.S. tax overhaul is a boon to Silicon Valley technology companies like Apple Inc and Alphabet Inc , which will enjoy big tax cuts and the chance to bring back billions of dollars from overseas at a reduced rate.

Futures point to positive session on Wall Street

(Reuters) - U.S. stock futures pointed to slight gains for Wall Street in what could be a quiet session on Friday as investors prepare for the Christmas holiday.

Sonic boom or bust? Dreams of super-fast jet travel revival face headwinds

(Reuters) - Supersonic passenger travel, which died out with the Concorde's demise in 2003, will make a comeback by the mid-2020s if three entrepreneurial U.S.-based companies can make jets quiet and efficient enough to win over buyers and fliers.

U.S. experts resign from monitoring China’s ZTE Corp: sources

(Reuters) - Two consulting firms hired to help the United States police ZTE Corp’s compliance with trade sanctions have resigned, according to four people familiar with the matter.

U.S. tax break could push startups to share the wealth

SAN FRANCISCO (Reuters) - Startup companies came away with a significant victory in the U.S. tax overhaul -- a chance to defer the often-onerous tax bill that is attached to company stock options.

(OFFICIAL)-Niki administrators pick four bidders for final-stage talks

BERLIN (Reuters) - The administrators of Niki have picked four strategic bidders for final-stage talks over the insolvent Austrian airline's assets, one of the administrators said on Friday.

This year's lumps of coal could be 2018's diamonds

SAN FRANCISCO (Reuters) - Investors saddled in 2017 with the market's worst performers, including Under Armour and General Electric, may do well to remember as December draws to an end that lumps of coal sometimes turn into diamonds.

Lotte chief gets suspended prison sentence; free to run firm

SEOUL (Reuters) - A Seoul court on Friday found Lotte Group Chairman Shin Dong-bin guilty of breach of trust and embezzlement and sentenced him to 20 months in prison, suspended for two years, leaving him free to try and revive the conglomerate after steep losses in China.