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Bloomberg.com

Bloomberg is a premier site for updated business news and financial information. It delivers international breaking news, stock market data and personal ...

  • Bitcoin Mining Boom Sputters as Prospectors See Real Cash Losses

    bloomberg.com 11 Apr '14, 4am

    The bitcoin mining rush is sputtering. Speculators, known as miners, use powerful computers to solve complex software problems and verify transactions to unlock new bitcoins. They’re finding that the enterprise isn’t as profitable as it once was. Drawn by the virtual currency’s jump i...

  • Handbag and fashion sales help cushion drop in cognac and alcohol revenue at LVMH

    LVMH’s Accelerating Fashion Sales Help Cushion Alcohol Decline -

    bloomberg.com 10 Apr '14, 10am

    LVMH Moet Hennessy Louis Vuitton SA , the world’s largest luxury goods company, reported its fastest fashion and leather-goods revenue growth in two years, cushioning an unexpected decline in quarterly alcohol sales. First-quarter fashion and leather-goods sales climbed 9 percent on a...

  • Bitcoin 2.0 Shows Technology Evolving Beyond Use as Money

    bloomberg.com 28 Mar '14, 4am

    Bitcoin isn’t just for buying and selling cupcakes and cameras anymore. A crop of entrepreneurs, backed by investors such as Andreessen Horowitz and BitAngels , are betting that the technology behind the virtual currency can be used for a range of financial tasks now handled by banks,...

  • China’s Bitcoin Exchanges Say Banks Will Close Their Accounts -

    bloomberg.com 10 Apr '14, 8pm

    Chinese Bitcoin exchanges said domestic banks closed their accounts after the nation’s central bank barred financial institutions from handling transactions in the virtual currency to curb risk. BtcTrade said on its website yesterday that an Agricultural Bank of China Ltd. (601288) su...

  • Bitcoin Prices Plunge on Report PBOC Orders Accounts Shut

    bloomberg.com 27 Mar '14, 11am

    Bitcoin prices plunged nearly 10 percent today after a report that China’s central bank ordered banks and payment companies to close the trading accounts of more than 10 exchanges. Accounts must be shut by April 15, preventing investors in the commodity that advocates promote as a dig...

  • Singapore Urges Companies to Exploit China Consumer Boom

    bloomberg.com 06 Apr '14, 4pm

    Singapore is encouraging companies to expand in China to tap rising consumption in the world’s second-largest economy as President Xi Jinping sustains efforts to reduce his country’s reliance on investment and exports. The island’s shipments to China will probably increase as a share ...

  • Bitcoin Startup Investments Surpass $117 Million

    bloomberg.com 20 Mar '14, 12am

    Bitcoin startups in North America have received the lion’s share of the digital currency’s venture-capital investments, drawing $98.6 million to date, according to a report from researcher Aite Group LLC. Investors have funded 19 Bitcoin startups in the region, compared with nine in A...

  • Bitcoin Swaps Near Reality as Tera Creates Legal Framework

    Bitcoin Swaps Near Reality as Tera Group Forms Legal Framework

    bloomberg.com 24 Mar '14, 3pm

    Tera Group Inc. created a legal framework for Bitcoin swaps, which would let investors trade payments based on how the virtual currency performs against a real one. The terms for a multimillion dollar swap between two U.S. institutions is planned to hedge Bitcoin volatility over a 25-...

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