Judge OKs Refco Sale of Unit at Auction

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    • Abstract:
      NEW YORK (AP) A federal judge approved plans for troubled Refco Inc. to sell its retail currency-trading unit at an auction Jan. 26. So far, the highest bid for that business is from the brokerage FXCM. It has offered $110 million to acquire customer accounts and to buy back a 35 percent ownership stake it had previously sold to Refco. [ABSTRACT FROM PUBLISHER]