As the US economic slowdown claims more victims, industry data shows that large US cooperate bankruptcies have been accelerated in recent weeks.

The data compiled by Bankruptcy Data.com and reviewed by Reuters indicates that eight public companies with assets of over $1 billion have filed for bankruptcy protection in the last four-week period. It also suggests that it is the largest number of multibillion-dollar public company bankruptcies in Read more…

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China, crisis, data, economy, recession, slowdown

Using legal tools to fight increasing data theft from civil-use computers in China may come true if the law is passed for its second reading by the top legislature, the National People’s Congress (NPC) Standing Committee.
As the existing Criminal Law stipulates punishment only for intruding into networks of governments, national defense or leading science sectors; or altering the functions of personal computer systems, it is necessary for the country to have such a law.

Under the new law, hackers who steal data or manipulate a huge number of computers will face jail terms of up to seven years, so do those who offer intruders software or tools. The proposed penalties also apply to Chinese hackers who steal information from foreign computers. Read more…

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China, computers, data, economy, hacker, tool

Even though China is becoming the No. 1 holder of US bonds, it is still likely to continue increasing holdings of US treasury bonds because it is the best way to deploy its $1.9 trillion foreign exchange reserves, economists say.

According to US treasury data on Monday, China has taken Japan’s place to become the top holder of US treasury debt in September. Its overall holdings Read more…

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China, data, exchange, holder, treasury bonds, U.S.