Fed head warning on US debt default

The biggest risk to the global economy is the US defaulting on its debt, the St Louis Federal Reserve Bank President James Bullard has said.

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Groupon is a Ponzi scheme, alleges analyst

Here’s the argument—“The typical Groupon “deal” is 50% off retail, with half of the proceeds going to Groupon. The merchant gets 25% of the revenue he would have received if the same number of customers had arrived via walk-in traffic. Except that all that Groupon revenue is unprofitable—so more and more Groupon revenue is actually bad.”

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Apple and its apps army

Apple has developed more than 425,000 applications—the biggest reason why customers are lapping up its gizmos. How does it keep its app developers happy?

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