Financial
Vegas casinos now accepting cybercurrency Bitcoin PDF  | Print |  E-mail
Written by HANNAH DREIER, Associated Press   
Tuesday, 21 January 2014 14:27

LAS VEGAS (AP) — Las Vegas is getting one more novelty. Starting this week, patrons will be able to use the online currency Bitcoin to pay for rooms, food and drinks at two downtown casinos.

The D casino and the city's oldest casino, the Golden Gate, will accept bitcoins at hotel front desks beginning Wednesday. The cybercurrency will also be accepted at the D's gift shop and two restaurants. U.S. dollars will remain the only currency accepted on the gambling floor.

Derek Stevens, the co-owner of the two casinos, said he's been intrigued by Bitcoin for years and had talked with patrons who wondered if the casinos would use it.

He said it's tough to forecast how many patrons will pay for dinners and souvenirs with Bitcoin, but predicted other casinos will soon adopt the currency.

"For us, it's going to be somewhat exciting to see what kind of impact it'll have," he said.

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Overstock.com sees new market in Bitcoins PDF  | Print |  E-mail
Written by Associated Press   
Tuesday, 21 January 2014 07:24

SALT LAKE CITY (AP) — Salt Lake City-based Overstock.com Inc. says it's the first major retailer to accept digital Bitcoins as payment for goods.

The $1 billion company is tapping into a new market of buyers who use the online currency, and other major retailers will lose market share if they don't follow suit and accept Bitcoins, Overstock CEO Patrick Byrne said.

"I've been hearing from people all over the world — cult followers of Bitcoin — who say they are going to shift all of their shopping to Overstock.com," Byrne told CBS affiliate KUTV in Salt Lake City.

Bitcoin users buy digital money and load it onto a virtual wallet. They can buy things online without having to enter their credit card information.

Unlike government-issued money, the value of Bitcoin fluctuates rapidly. To protect itself, Overstock uses a Bitcoin broker that immediately exchanges the digital coins into dollars.

Last Updated on Tuesday, 21 January 2014 11:54
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Ohio small businesses may qualify for tax break PDF  | Print |  E-mail
Written by Associated Press   
Tuesday, 21 January 2014 11:48

COLUMBUS, Ohio (AP) — The state tax commissioner is reminding Ohio small-business owners that they may be eligible for a recently enacted tax deduction.

In an alert issued Tuesday, Commissioner Joe Testa urged taxpayers to visit the Ohio Department of Taxation website to learn whether they're eligible and how to file for a 50-percent write-off on their first $250,000 in business income from 2013.

Testa says a majority of small businesses and entrepreneurships structured as pass-through entities will be eligible for the deduction. It was enacted last year as part of a package of state tax changes included in Ohio's two-year state budget.

The value of the deduction is capped at $125,000 of adjusted gross income reported on an Ohio personal income tax return.

___

Online:

Ohio Department of Taxation: http://www.tax.ohio.gov


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
Unilever sales slowed by emerging markets PDF  | Print |  E-mail
Written by TOBY STERLING, Associated Press   
Tuesday, 21 January 2014 07:22

AMSTERDAM (AP) — Consumer goods giant Unilever, maker of Ben & Jerry's ice cream, said Tuesday that sales slowed in the fourth quarter due to weakness in emerging markets and are expected to remain muted until later in 2014.

The company said "underlying" sales — that is, stripping out the impact of currency effects and new businesses — rose 4.1 percent. While the figure was better than analysts had expected, it was entirely reliant on demand in emerging markets, which slowed.

Developed markets like the U.S. and Europe are not improving quickly enough to benefit the company.

"The growth that you see in the United States and some people get excited about is not enough to make a difference" to Unilever, Chief Executive Paul Polman said on a conference call with analysts. He repeated the company's goal of maintaining margins while growing faster than the markets it competes in, with brands such as Dove soaps, Vaseline, Axe deodorants, Omo laundry detergent, and many others.

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