http://www.bbc.com/news/business-30151829

Aereo files for protection against bankruptcy.

 Aereo filed for protection against bankruptcy in front of the Supreme Court, which did not help them for it called the company's legality into question. Then they went on to state facts about Aereo stating it is a good company that desires help with these statements: Aereo used small antennas stored in warehouses to capture local TV signals. Subscribers could stream those signals via Aereo for around $8 per month.

 However, cable companies claim that Aereo was using a loophole in the US justice system by transmitting local TV signals and violating their intellectual property. 

In June, the US Supreme Court effectively agreed with those broadcasters - which included CBS, ABC, NBC and Fox - and ruled Aereo's business violated US copyright law.

During this time Justice Stephen Breyer stated that Aereo is no different from any of the other cable companies. "Aereo is not simply an equipment provider... Aereo sells a service that allows subscribers to watch television programs, many of which are copyrighted, almost as they are being broadcast," he wrote.

The company suspended its service in the wake of the ruling.

According to its bankruptcy filing in a New York court, Aereo had assets of $20.5m and debt of $4.2m.

Gap changes chief

Chief resignsfrom Gap

http://www.bbc.com/news/business-29547434

It was announced on Wednesday that the chairman and chief executive officer of the clothing line Gap is stepping down in February. After seven years in high rankings Art Peck is replacing Glenn Murphy (resigning chairman and chief executive officer). Art Peck has been in the retail business with Gap since 2005 and is currently the digital leader.

The firm decided to change the management set up, in September due to weak same-store sales.  Gap’s weak sales were expected to hurt margins in the third quarter.

Since Murphy stepped up to power in Gap it is said that the market value for their company has tripled and its income has increased by more than double. But this was not enough reason for Murphy to stay.   He had told analysts that he had to retire from his position because “I can not commit to lead the company for the next several years.”

Art Peck (who is currently 58 years old) was the head of Gap's North America operations in 2011 and 2012. The region accounts for more than three-quarters of the retailer's revenue.

Hong Kong: Protesters

Thousands of pro-democracy protesters are blocking Hong Kong's streets, shutting down the territory's business hub and ignoring appeals to leave. Crowds of people stay in the streets through a riot and protest and they even stayed out through the night.  Even legal threats didn’t change their minds. Thousands of people remained camped out around the government complex overnight. 

Banks schools and even some public and private transport had to close due to this protest.

Protesters are angry at Beijing's plans to vet candidates in Hong Kong's 2017 elections.

Hong Kong's chief executive has stated the public that rumours the Chinese army might intervene were untrue.

"I hope the public will keep calm. Don't be misled by the rumours," CY Leung said.

The police forced had to get involved to calm down protests but it ended in a fight.

About 3,000 people have also blocked a major road across the bay in Mongkok and faces off between civilians and police took place in front of shopping centers.

in other developments:

• More than 200 bus routes have been cancelled or diverted; some subway exits in protest areas have been blocked
• Several banks have suspended operations in affected areas
• Police said they arrested 78 people on Sunday, after 70 arrests on Saturday.
• In the Taiwanese capital, Taipei, a group of protesters gathered outside the Hong Kong cultural office in a show of support
• President Ma Ying-jeou said Taiwan was closely watching the situation in Hong Kong
• In mainland China, reports say Instagram has been blocked, it is thought due to the protests