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MarketWatch - Friday, Jan. 17, 2014

CBSNews -- Detroit faces another setback and a professional sports team is now accepting bitcoins.
CBSNews -- Detroit faces another setback and a professional sports team is now accepting bitcoins.

Disappointing earnings from Best Buy and Citigroup cut down a two-day stock market rally.

The Dow fell 64.93 and the NASDAQ climbed 3.81.

General Electric and Morgan Stanley are among the companies set to report quarterly earnings today.

Another setback for Detroit.

The judge overseeing the city's bankruptcy has once again rejected a compromise deal between Detroit and two major banks.

Detroit wanted to take out a loan for $165 million to pay off UBS and Bank of America for a financing agreement they made with the city almost a decade ago. But the judge said the settlement was too expensive and encouraged Detroit’s officials to continue negotiating a smaller amount with the banks.

Bitcoins are slowly going more mainstream.

The Sacramento Kings are the first major professional sports franchise to accept the virtual currency. Fans will be able to use bitcoins to buy tickets and gear from the official team store beginning in March. Purchases will be processed through Bitpay, which accepts the digital dollars and pays the kings in cash.

Other companies accepting bitcoins as payment include overstock.com, Reddit and at least one New York City real estate agency.


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