Money Time

December 1st, 2013
01:17 PM ET

Sell out or brilliant businessman?

Jason– yes, that's his real name– sold his last name to the gadget website last year for $45,000. And he's doing it again for the highest bidder in 2014– but was it worth it? Or, more importantly, what's the point?

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November 25th, 2013
07:18 AM ET

Boeing Issues Warning About Engine Icing on Dreamliner Planes

Boeing has warned airlines to keep some 747-8 and 787 aircraft away from certain storms because of possible icing problems in engines, CNN Chief Business Correspondent Christine Romans reports.

The aircraft manufacturer sent a message to "customers who operate some GE-powered engines after instances of ice crystal icing that resulted in temporary diminished engine performance," spokesman Marc Birtel said in a statement.

Boeing said pilots should keep the planes at least 50 nautical miles from storms that may contain ice crystals until General Electric can make improvements to the "GEnx" engines.

Only a small number of the engines have had a problem with ice crystals, the statement said.

Boeing began delivering its 787 Dreamliners in 2011. The model is billed as a super-efficient, high-technology airliner of the future, and it flew without major problems for a year.

But a battery fire forced the diversion of an All Nippon Airways flight in January 2013. The entire fleet of 50 planes was grounded for four months while Boeing made repairs.

Later, a United Airlines Dreamliner made an emergency landing in Houston with brake problems and a fire broke out on an unoccupied Ethiopian Airlines Dreamliner in London. There also have been investigations into a faulty fuel pump indicator, an electric panel, a plane oven and emergency beacons.

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November 20th, 2013
10:21 AM ET

Bitcoin Boom, Digital Currency Hits $900 Value

As investors, technophiles and lawmakers debate the legitimacy of Bitcoin, one thing's for sure: the fledgling digital currency is on the roller coaster ride of a lifetime.

Within a 28-hour period stretching from Monday morning to early Tuesday, the price of the currency soared nearly 70%, from a little over $500 to an all-time high of $900.98 before plunging back down again to a level just above $500. (Bitcoins trade 24/7 online.)

By midday Tuesday, Bitcoin was back above $700, a 50-fold increase since the beginning of the year, when a single Bitcoin was worth around $13, CNN Chief Business Correspondent Christine Romans reports.

We had a lot of fun on our show Wednesday as our team created Chriscoins, basically paper with Chris Cuomo's face on it.  On Twitter, fans responded positively.

Donald Newman: @NewDay Breaking News. Chriscoins burst on the virtual market and rival #Bitcoins in value.

The latest surge in Bitcoin has been fueled by investors, particularly those in China, betting on the future growth of the currency as a credible alternative.

Bitcoin was created anonymously in 2010 as an experimental form of money that exists only online. It is not managed by any central authority and is "mined" by solving complex math problems using powerful computers.

The algorithm behind the virtual currency caps the total number of Bitcoins at 21 million. Currently, there are almost 12 million Bitcoins in circulation, giving the currency a total market value of almost $8.5 billion.

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November 14th, 2013
07:38 AM ET

Snapchat Founder Turns Down $3 Billion

Snapchat lets users send photos that last only for moments, but investment analysts believe the social media company's future will be long-lasting.

The young founder, CEO Evan Spiegel, 23, just turned down three billion dollars for it.

Facebook reportedly offered the all-cash, multi-billon dollar acquisition deal, only to be rebuffed.

Brett Larson, host of "Techbyes," weighs in saying,  “I think what happened was he waited ten seconds and the Facebook deal went away.... No, I think he's waiting around to see who's going to bring the better deal.”

Larson explains, “Snapchat is this explosively popular messaging service that lets mostly teenagers communicate in short messages and photos and videos that only last for ten seconds.”

“And that’s what they love about it,” Chief Business Correspondent Christine Romans adds. “Facebook needs young people and that’s why it was a multi-billion dollar offer.”

Romans explains the possible strategic reason why Spiegel refused the deal.

“They must think they could get more or they're going to do another round of funding that’s going to give the owners and the founders more of a stake if they would eventually go public, maybe they could get even more money than this.”

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