Mining computer designer and cloud mining operation Cointerra files for bankruptcy, leaving debts up to 50 million USD and potentially 999 creditors unpaid. The Bitcoin mining sector is now in dire straits due to the raising operating costs of mining combined with the recent price drop.

Cointerra, the manufacturer of the TerraMiner series of mining computers, has filed for Chapter 7 bankruptcy in the United States. The filing comes two weeks after the start-up was sued for US$1.5 million by C7 Data Centers Inc. over unpaid invoices. The bankruptcy process will see the companys assets liquidated to pay its creditors.

The mining computer designer and provider of cloud mining...

  • More public service news

Finding savings in the budget might be a tough ask but it appears even the public servants at the Department of Finance have their limits.

The federal government has confirmed no consideration has been given to selling the three islands owned by the Finance Department.

But the possibility was not so extreme that it stopped opposition Senate leader Penny Wong from asking the question, or the government from ruling it out in the future.

The organizers of
FAFSA tweeted on Friday that its planned workshop at Framingham High on Sunday is cancelled due to the weather.

For those who wish to travel there is an event at Franklin High on Sunday.

FAFSA Day is designed to
help college-bound students and parents navigate the FAFSA form by providing
one-on-one assistance, and to educate Massachusetts residents about the
financial aid opportunities in higher education.

The
FAFSA form is a federally required form for almost all federal and state
financial aid, including Pell Grants, work-study funds, and loans.

The
2015-2016 FAFSA form is now available online at
fafsa.gov.

Students...

WHEN DAD FELL ASLEEP. WHEN THE MAN WOKE UP THE BABY WAS UNRESPONSIVE. SELFIE VIDEOS HAVE BEEN SEEN BY THOUSANDS BUT NOW THE SUSPECTED THIEFS ARE BOTH BEHIND BARS. BRANDON WALKER JOINING US OUTSIDE THE CENTER WITH HOW THE SUSPECTS WERE CAUGHT. BRANDON. Reporter: INVESTIGATORS TELL ME THEY ARRESTED ONE OF THE SUSPECTS LAST NIGHT. THEY ARRESTED ONE AT AN OUTREACH, THE OTHER AT A FRIENDS PLACE. BOTH ARE BEHIND BARS. FOR THE VICTIM AT THE CENTER OF ALL THIS, HE SAYS THAT IS A GOOD THING. RELIEVED THEY FINALLY GOT CAUGHT. Reporter: FOR RANDY SCHAEFFER THAT IS A FEELING OF RELIEF BEGAN WITH THIS VIDEO. HELLO, AMERICA. IN IT TWO MEN SHOW OFF CASH AND MONEY BELIEVED TO HAVE BEEN STOLEN FROM SCHAEFFERS...

Finance and insurance, natural resources and real estate industries were the biggest drivers of the third quarters strong economic growth, the Commerce Department said Thursday.

The industries accounted for just over half of the 5.0% advance for gross domestic product from July to September. That marked the strongest seasonally adjusted annual pace for GDP, the broadest measure of economic output, in 11 years.

The latest report breaks out contributions from broad industry groups, while earlier figures are categorized by consumer spending, private investment, trade and government spending.

Overall, the report underscores relatively broad-based economic growth, which has helped fuel...

Many lenders used to be happy to lend on self-certification of income where the applicant had a good credit score and no adverse credit history. Others used simple income multiples to agree the amount they were prepared to lend. 

The great recession and the MMR meant that lenders had to take a new view on how much they would lend. This was despite the fact that arrears and repossessions had been relatively low through the downturn. 

Now all lenders must verify an applicant’s income in all cases. There are also new rules on expenditure to assess affordability.

The MMR rules require lenders to take account of the customer’s committed expenditure; their basic...

ST. THOMAS – Gov. Kenneth Mapp returned to the VI Public Finance Authority on Wednesday after almost a decade, this time as chairman of the board.

Mapp had served as the director of finance and administration at the Public Finance Authority from 2002 to 2006.

According to the VI Code, the sitting governor automatically is appointed as chairman of the agencys board.

By statute, the governor, VI Finance commissioner, director of the Office of Management and Budget and director of finance and administration at the Public Finance Authority all are appointed to the board.

The position of director of finance and administration has remained vacant since Julito Francis...

I have worked with hundreds of entrepreneurs, and have heard their stories of success and failure. Here are a few of the quickest ways I have seen entrepreneurs fail.

1. They have no idea what the words personal brand mean- or if they do, they have no idea what theirs really is or dont think it is important to define theirs. Everyone must know what people perceive about them and their products or services. One cannot be so in love with themselves that they become blind to the opinions and thoughts of the world around them. A well-defined personal brand tells the world who you are, shares your gifts and talents, catapults you in front of any perceived competition and gives you an advantage...

A decision last month from the US Court of Appeals for the Fourth Circuit marks a disappointing end to a decade-long tax case affecting many Washington-area businesses. The case, Wolff v. United States of America, Adversary Proceeding No. 13-2116, stems from the bankruptcy case of FirstPay, Inc., a Silver Spring, Maryland-based payroll management company.

In 2003, FirstPay provided payroll services to more than 1,500 employer clients. In accordance with its master services agreement, FirstPay would, prior to each payroll date, withdraw funds from the clients bank account. The withdrawal would be of an amount sufficient to cover the payment of the clients employees wages, the payroll...