Business News

Bitcoin surpasses $50,000 for first time ever as major companies jump into crypto

Bitcoin hit a record high of more than $50,000 on Tuesday, continuing its blistering rally as major companies appear to be warming to cryptocurrencies.

The world’s largest digital currency by market valuable rose more than 3 percent to an all-time high of $50,389 just after 7:30 a.m. ET, according to data from Coin Metrics.

Bitcoin has had a boost from news of large firms like Tesla, Mastercard and BNY Mellon warming to cryptocurrencies. Tesla last revealed it had bought $1.5 billion worth of bitcoin and plans to accept the digital coin as payment for its products, while Mastercard said it

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Hedge Fund Reaches a Deal to Buy Tribune Publishing

The newspaper business has struggled for most of the 21st century as the rise of digital media has cut deeply into the revenue once generated by print advertising and newsstand sales. At the same time, Facebook and Google have grabbed a huge chunk of digital ad revenue, effectively blocking the industry from one of its traditional sources of cash.

Roughly a quarter of the newspapers in the United States, most of them weeklies, were shut down between 2004 and 2019, while about 50 percent of newspaper jobs were eliminated. Hedge funds, however, see newspapers as a potential bargain. With a

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Marriott CEO Arne Sorenson dies at 62 after battle with cancer

Arne Sorenson, the president and CEO of Marriott, the world’s largest hotel chain, died Monday, the hotel giant announced Tuesday morning. He was 62.

The company said in 2019 that Sorenson had been diagnosed with pancreatic cancer, and this month it announced he would be taking a step back from his regular schedule to “facilitate more demanding treatment.”

Sorenson was just the third CEO in Marriott’s history, taking the helm in 2012 — and the first not to have Marriott as a last name. The company was founded in 1927 by John Willard Marriott, and it is currently led by

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Steve Cahalan: Jules’ Coffee, 3 restaurants top business news | Business

Steve Cahalan

There’s lots of local restaurant and coffee house news, with last week’s opening of Las Margaritas Restaurant & Cantina in a former Hardee’s, the opening of Yummi’s Cuisine in the former MC Cuisine restaurant, new owners planning to reopen Jules’ Coffee House in downtown La Crosse, and a new owner planning to reopen The Cheese Corner in downtown Viroqua.

Ignacio Morales opened his Las Margaritas Restaurant & Cantina on Monday in the extensively-remodeled former Hardee’s restaurant at 2505 State Road, near the former Kmart store and across from the Village Shopping Center.

Las Margaritas moved there from its

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Ocala/Marion County local business news for Feb. 15, 2021

This is the Star-Banner’s weekly listing of local business news. Send items to [email protected] and write “business briefs” in the message line.

Big Daddy Guns will hold a grand opening for its Ocala store, in the Carus Plaza shopping center at 3558 SW College Road, Suite 400, at 11:30 a.m. Feb. 20. The store sells guns, gear, ammo and accessories.

• A Hand & Stone Massage and Facial Spa is opening this month at 3980 SW 26th Court, Unit 103, Ocala. This will be the national company’s second biggest Florida store and is expected to provide 20-25 new jobs.

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Mobile home dwellers hit even harder when facing eviction

Chris Larson was preparing lasagna for Christmas Eve dinner last year when someone knocked on the door of the mobile home he owns with his fiancée, Kirsten Brokaw, and three kids in Superior, Wisconsin. An apologetic man dressed in jeans and a jacket stood at the door, handed him a stack of papers and said he was being evicted. He said the family had to leave by Jan. 20.

“We were using up all the money we had to pay down our lot rent,” Larson said. “We tried to keep up the best we could until then.”

Like hundreds of

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