Business, Bitcoin and Bureaucracy

It's been an interesting week for business with one or two highlight's in a sea of gloom, from the US to Iraq, Argentina and China, it's been a global affair.

The week started on a positive note when Starbucks announced it would pay tuition for thousands of it's employee's to take courses through Arizona State University to complete their Bachelor's degree. It seemed like business as usual with Amazon announcing the it's latest product, the Fire Phone, to take on the smartphone market.

But it didn't last long heading downwards from there with the GM CEO set to face more Capital Hill questions after the recent spate of recalls and got worse when hackers stole customer data from Domino's pizza in Europe and demanded a ransom.

Things seemed to only get worse when the US Marshal's leaked the list of potential bidders for Bitcoins confiscated from Silk Road. Bitcoin continued the negative ride when the Bitcoin doomsday scenario arrived as it was revealed that 51% of Bitcoin's processing power was controlled by a single group. There was some light for Mt. Gox who got approval for US bankruptcy protection.

While the Obama Administration made strides determined to extend family leave for same-sex couples the Federal Reserve announced it would curtail it's bond buying activity but continue with mortgage bonds and potentially Treasury securities too. But it wouldn't last long with a Veterans Affairs official being arrested for accepting $40k in illegal gifts.

Internationally it got downright ugly with the Argentine government trying to side step a US Supreme Court order by offering a debt swap to it's creditors. China then rejected a shipping alliance despite support from the US and EU which would have saved the industry money. And if all that wasn't bad enough the escalating violence in Iraq shook the markets with oil prices surging.