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Billabong gets $150m takeover bid from Quiksilver

Australian surf wear brand Billabong has received a takeover bid from rival Quiksilver which values the company at around $150m (£110m). It could be a lifeline for the troubled firm, which has only turned a profit in one of the last five years. Billabong suffered a $58m (£43m) wipeout this year, which was triple its

Toys R Us prepares to shut 25 stores

Toys R Us is preparing to close around a quarter of its 106 UK stores, with the loss of hundreds of jobs, the BBC understands. The closures would form part of a deal to renegotiate debts owed by the company to its landlords – which must be agreed by 75% of its creditors. The toy

US regulator approves Bitcoin trading

Bitcoin has taken another step toward the financial mainstream, after a US regulator said it would let two traditional exchanges begin trading in Bitcoin-related financial contracts. CME Group and CBOE Global Markets exchanges will offer investors Bitcoin futures from later this month. The move sent the crypto-currency’s price up, continuing its volatile week. Bitcoin hit

US stocks pare losses triggered by Michael Flynn reports

Stocks on Wall Street closed lower on Friday, but pared the steepest losses triggered by reports related to an ongoing investigation of Russian influence in the Trump campaign. Increased confidence that Congress is on track to pass a corporate tax cut helped to stem the declines. The Dow Jones closed at 24,231.59, down 40.76 points