February 2014 Current Events: Business News
Here are the key events in business news for the month of February 2014.
U.S. Economy Adds 129,000 in January (Feb. 7): According to the Labor Department, the U.S. economy adds 144,000 jobs in the first month of 2014. The number of jobs added is an increase from the 74,000 jobs added in December, but the number is still lower than many economists predicted. The unemployment rate continues to fall, from 6.7% in December to 6.6% in January, and is the lowest it has been since November 2008. However, this is still largely due to people dropping out of work force.
Arrests and Controversy Continue for Bitcoin (Feb. 7): Two men in Florida are arrested for using Bitcoin currency in an alleged money laundering scheme. The case is believed to be the first involving Bitcoin currency in the state of Florida. The arrests come a month after Charlie Shrem, CEO of BitInstant, a Bitcoin exchange company, was arrested and charged with conspiring to commit money laundering and operating an unlicensed money transmitting business. (Feb. 25): The largest Bitcoin exchange, Mt. Gox, announces that it is filing for bankruptcy. Mt. Gox has been plagued by technical problems for months as well as the loss of 774,000 bitcoins, or six percent of all bitcoins in circulation, in a major theft.