Virtual game granted real bank licence

Publishers of the online game Entropia Universe have been granted a real-life banking licence by Swedish officials; they plan to open a government-insured virtual bank for the game within a year, reports The Register.

The sci-fi universe of Entropia already lets players exchange real money for virtual funds used to buy items, do business, and trade on the game's fictional world of Calypso.

The game's currency, PED (Project Entropia Dollars), has a fixed rate with the US dollar, where 10 PED equals $1.

German retail chain Galeria Kaufhof will pull violent films and video games off its shelves following the brutal school shooting last week that shocked and horrified the country, states The Hollywood Reporter.

Beginning in April, Kaufhof, one of the country's largest retailers, will no longer stock films or games sold with an 18-plus rating, meaning material judged inappropriate for young people.

The rating is usually reserved for violent material, including horror films and first-person shooter style games.

A videogame company's shift in focus to stay relevant in the Wii era does not appear to have paid off, says The Washington Post.

Game publisher THQ said this week that it will shutter its Timonium, Maryland-based subsidiary, Big Huge Games, if it doesn't find a buyer for the studio within 60 days.

The California-based publisher acquired Big Huge last year, but is now trying to slash its expenses by $220 million.