thursday

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The U.S. Justice Department on Thursday said Apple Inc's rhetoric was “false” in a high-profile fight over the government's bid to unlock an encrypted iPhone belonging to one of the San Bernardino shooters. Last month, the Federal Bureau of Investigation obtained a court order requiring Apple to write new software and take other measures to disable passcode protection and allow access to shooter Rizwan Farook's iPhone. Apple has not complied.

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A lawyer for RadioShack on Friday said the bankrupt electronics chain would accept all kinds of bids for its assets, including from liquidators, although any transaction would require court approval. RadioShack, which filed for Chapter 11 protection on Thursday, has a tentative deal to sell as many as 2,400 of its 4,100 stores to an affiliate of hedge fund Standard General, its lender and largest shareholder. RadioShack, which posted 11 straight quarterly losses after failing to transform itself into a destination for mobile phone buyers, hopes to avoid the fate that plagues many bankrupt retailers: liquidation. A court hearing on procedures for bidding on RadioShack's assets is set for Feb. 20, with a final sale hearing tentatively scheduled for March 12.