Problem: (CNN) -- An octogenarian climber has abandoned his bid to reclaim the title of the oldest man to climb Mt Everest after a combination of poor climbing weather and government red tape forced him to call off the ascent.

Veteran Nepali climber Min Bahadur Sherchan, 81, had been acclimatizing at base camp, ready to reclaim his title from longtime rival 80-year-old Yuichiro Miura who became the oldest climber to reach the summit of the world's highest mountain last week.

However, a government promise to provide one million Nepali rupees (US$11,200) for the bid -- on which other sponsorship money hinged -- was awaiting government Cabinet approval in Kathmandu.

Team leader Ishwari Poudel told CNN that going up Everest was now too risky because the snow had started to melt, making ladders and other equipment unstable.

He said that since other expeditions had already left the mountain, there would be no manpower available in the event of a rescue.

The government had also pledged to help Sherchan's bid by waiving the Everest climbing permit fee of US$10,000 but this was also held up by Cabinet delays.

Purna Chandra Bhattarai, the Tourism Industry Division of the Ministry of Tourism and Civil Aviation, said his department, which processes climbing permits, had received the application late and the waiver could only be decided by ministers.

"The government makes decisions following its own procedure," he said.

Sherchan downplayed rumors he was returning due to health concerns.

"When one goes to climb such a mountain there are small health issues," he told CNN.
1. Who deserted their bid?
2. Why did he do that?
3. Who was it?
4. Did the government agree to give money?
5. How much?
6. Who made a statement of it being to risky?
7. Why did he feel that way?
8. What else did the government agree to?
9. How much was that?
10. What rumors was downplayed?
11. Was the waiver turned in late?
12. What was the outcome behind this>
13. Who was over this department?
14. How old was Sherchan?
15. Why didn't he fulfill his reclaim?
Answer: 1. octogenarian climber
2. to reclaim title as oldest man to climb Mt. Everest.
3. Min Bahadur Sherchan
4. Yes
5. one million Nepali rupees
6. Ishwari Poudel
7. the snow had started to melt.
8. to help by waiving the Everest climbing permit fee.
9. US$10,000
10. That Sherchan was returning due to health concerns.
11. Yes.
12. The decision was now on ministers.
13. Purna Chandra Bhattarai, the Tourism Industry Division of Ministry
14. 81
15. poor climbing weather and government red tape.

Problem: Li Mingyang only joined Alibaba's investment platform one month ago but he has already transferred almost all the cash in his bank account - nearly Rmb200,000 ($32,000) - to the online fund. He is far from alone . More than 30 million people in China have signed up to Yu'E Bao, or "Leftover Treasure", only six months since its launch.

Initially as the Chinese e-co mmerce group as a platform for its users to manage extra funds in their online payment accounts, Yu'E Bao is becoming something far more powerful: a straight-up substitute for traditional bank deposits ."There's no point in keeping money in the bank any more. This is just as reliable, more flexible and you can earn a lot more from it," Mr Li says.

A quick hit of the Yu'E Bao application on his phone shows the Shanghai-based editor has earned more interest on his account over the past day than 94 per cent of other local users ."This is fun, almost like a computer game," he says with a laugh.

For every Rmb12 that companies and individuals have deposited in Chinese banks since June, they placed roughly Rmb1 in their Yu'E Bao accounts, according to Financial Times calculations based on official data. While it remains tiny compared with total deposits in the Chinese banking system, this transfer of cash from banks to the Alibaba platform is only speeding up. In the process, it threatens to upend( ) the rules of China's state-protected financial department, break banks' profit model and shifting power to savers in a way that was scarcely imaginable at the start of this year.

Other Chinese tech companies are getting in on the act. Tencent, developer of the hugely popular

messaging app WeChat, is said to be designing a fund platform similar to Yu'E Bao. Baidu, the search engine company, began marketing investment products in October.

"Internet companies, with their ability to instantly reach millions of consumers, have already started to change the competitive dynamic in finance," says Ernan Cui, an analyst with GK Dragonomics, a

Beijing-based research firm.
1. What platform did Mungyang join?
2. How long ago?
3. How much has he already transferred?
4. How long ago did Leftover Treasure launch?
5. Yu'E Bao is a substitute for what?
6. What does Mr Li say is the main benefit?
7. He has earned more over the past day than what percent of local users?
8. What did Li compare it to?
9. For ever Rmb12 what amount was placed in their Bao accounts?
10. Who else is getting in on the act?
Answer: 1. Alibaba's investment platform
2. one month
3. nearly Rmb200,000
4. six months
5. traditional bank deposits
6. more flexible and you can earn a lot more from it
7. 94
8. a computer game
9. Rmb1
10. Other Chinese tech companies

Problem: New York (CNN) -- More than 80 Michael Jackson collectibles -- including the late pop star's famous rhinestone-studded glove from a 1983 performance -- were auctioned off Saturday, reaping a total $2 million.

Profits from the auction at the Hard Rock Cafe in New York's Times Square crushed pre-sale expectations of only $120,000 in sales.

The highly prized memorabilia, which included items spanning the many stages of Jackson's career, came from more than 30 fans, associates and family members, who contacted Julien's Auctions to sell their gifts and mementos of the singer.

Jackson's flashy glove was the big-ticket item of the night, fetching $420,000 from a buyer in Hong Kong, China. Jackson wore the glove at a 1983 performance during "Motown 25," an NBC special where he debuted his revolutionary moonwalk.

Fellow Motown star Walter "Clyde" Orange of the Commodores, who also performed in the special 26 years ago, said he asked for Jackson's autograph at the time, but Jackson gave him the glove instead.

"The legacy that [Jackson] left behind is bigger than life for me," Orange said. "I hope that through that glove people can see what he was trying to say in his music and what he said in his music."

Orange said he plans to give a portion of the proceeds to charity.

Hoffman Ma, who bought the glove on behalf of Ponte 16 Resort in Macau, paid a 25 percent buyer's premium, which was tacked onto all final sales over $50,000. Winners of items less than $50,000 paid a 20 percent premium.
1. Where was the Auction held?
2. How much did they make?
3. How much did they expected?
4. WHo buy the Jackson Glove
5. Where was the buyer of the glove from?
Answer:
1. Hard Rock Cafe
2. $2 million.
3. $120,000
4. Hoffman Ma
5. Macau