Financial
First Colorado county reports pot taxes PDF  | Print |  E-mail
Written by KRISTEN WYATT, Associated Press   
Tuesday, 25 February 2014 15:38

DENVER (AP) — A southern Colorado county with two recreational marijuana stores has become the first in the state to announce tax totals from the new industry.

Pueblo County finance authorities announced Monday that its two shops had about $1 million in total sales in January, producing about $56,000 in local sales taxes.

Pueblo County is the only place between Denver and the New Mexico state line that currently allows recreational pot stores. Its two shops were joined by three more that opened in February.

"We recognize that the eyes of the world are watching us, and we are proud to have erected a robust regulatory environment in Pueblo County," County Commissioner Sal Pace said in a statement Tuesday.

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Tokyo-based bitcoin exchange said to be insolvent PDF  | Print |  E-mail
Written by RAPHAEL SATTER, Associated Press YURIKO NAGANO, Associated Press   
Tuesday, 25 February 2014 15:35

TOKYO (AP) — One of the world's largest bitcoin exchanges has seemingly disappeared, delivering a severe blow to the virtual currency as it struggles to gain legitimacy.

A coalition of virtual currency companies said Tuesday that Tokyo-based Mt. Gox went under after secretly racking up catastrophic losses.

Mt. Gox's website was returning a blank page Tuesday. The disappearance of the site follows the resignation Sunday of Mt. Gox CEO Mark Karpeles from the board of the Bitcoin Foundation, a group seeking legitimacy for the exotic new form of money. The exchange had imposed a ban on withdrawals earlier this month.

Prominent supporters of bitcoin — including San Francisco-based wallet service Coinbase and Chinese exchange BTC China — sought to shore up confidence in the currency by saying Mt. Gox's collapse was an isolated case of mismanagement. They said it had abused users' trust, but did not offer details.

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No easy bailout plan for Ukraine PDF  | Print |  E-mail
Written by DAVID McHUGH, Associated Press JUERGEN BAETZ, Associated Press   
Tuesday, 25 February 2014 15:37

KIEV, Ukraine (AP) — Ukraine needs money, and fast — in weeks, not months. But bailing out the country of 46 million people will not be as easy as simply writing a big check.

For one, Ukraine has already burned the main global financial rescuer, the International Monetary Fund, by failing to keep to the terms of earlier bailouts from 2008 and 2010.

Now it needs help again, and its economic and financial problems are worse than before.

The currency is sliding, raising concerns that companies that owe money in foreign currency could go bust. Banks are fragile. A rescue with outside lenders can't be agreed until there's a government. And Russia could make things worse by demanding payment of money owed for natural gas supplies.

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Group wants heart attack warning on testosterone PDF  | Print |  E-mail
Written by MATTHEW PERRONE, AP Health Writer   
Tuesday, 25 February 2014 07:26

WASHINGTON (AP) — A consumer advocacy group is calling on the Food and Drug Administration to add a bold warning label to popular testosterone drugs for men in light of growing evidence that the hormone treatments can increase the risk of heart attack.

The group Public Citizen says the agency should immediately add a "black box" warning — the most serious type — to all testosterone medications and require manufacturers to warn physicians about a higher risk of heart attack, stroke and death with the treatments.

The FDA announced last month that it was reviewing the safety of drugs like the blockbuster testosterone gel, AndroGel, in light of two recent studies that showed higher rates of cardiovascular problems in men. The agency said its review was first prompted by a U.S. Veterans Affairs study published in November 2013 that showed a 30 percent increase in stroke, heart attack and death among older men taking testosterone.

In January, a federally funded study of 45,000 men suggested testosterone therapy could double the risk of heart attacks in men 65 and older.

But Public Citizen says studies published as early as 2010 should have prompted FDA action.

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