bloomberg.com Archives - 26 June 2016, Sunday

  • Bitcoin Buyers Seek Haven From British Pound After Brexit Vote

    Bitcoin Buyers Seek Haven From British Pound After Brexit Vote

    bloomberg.com 24 Jun '16, 9pm

    Demand surged for bitcoin as a safe haven from the British pound, which plummeted after the U.K. voted to leave the European Union. The pound fell to its lowest in more than 30 years, driving demand for assets such as U.S. Treasuries and gold. Stocks and bonds also fell, amid concerns...

  • Looking for a Gainer Amid the Sea of Red? Bitcoin Jumps With Yen

    bloomberg.com 24 Jun '16, 6am

    Bitcoin was one of the few winners out of the U.K.’s vote to leave the European Union, surging as much as 13 percent as the decision fueled demand for alternative assets. The digital currency jumped 11 percent to $681.68 as of 1:45 p.m. Hong Kong time, according to data compiled by Bl...

  • Bitcoin Loses 25% in Five Days as Brexit Odds Fall, Ether Sinks

    Bitcoin Loses 25% in Five Days as Brexit Odds Fall, Ether Sinks

    bloomberg.com 23 Jun '16, 6am

    Bitcoin plunged for a fifth day as concern Britain will vote to leave the European Union waned and a hack suffered by another cryptocurrency undermined confidence in such digital assets. Bitcoin slid 6.1 percent to $573.84 as of 1:31 p.m. in Hong Kong on Thursday, data compiled by Blo...

  • UBS Gives IRS Records on U.S. Citizen’s Account in Singapore -

    bloomberg.com 23 Jun '16, 12am

    UBS Group AG has ended a legal fight with the Internal Revenue Service, agreeing to hand over records on an American client’s account in Singapore as U.S. authorities seek to move beyond Switzerland in their fight against offshore tax evasion. The case involves Ching-Ye Hsiaw, a U.S. ...

  • via @business

    Currency Traders Face 3 a.m. Singapore Start for Brexit Results

    bloomberg.com 23 Jun '16, 12am

    As the U.K. decides on its future in or out of the European Union, currency traders and analysts thousands of miles away in Asia, will be at their desks well before dawn. Voting is scheduled to close at 10 p.m. in the U.K. on Thursday, or 5 a.m. in Singapore on Friday. Traders and ana...

  • Singapore to Include Yuan Assets in Foreign Reserves From June

    bloomberg.com 22 Jun '16, 9am

    Singapore plans to include yuan-denominated assets in its foreign reserves from this month as China seeks wider international use of its currency. The move recognizes the growing acceptance of yuan assets in the portfolios of institutional investors, as well as liberalization of Chine...

  • via @business

    Hong Kong-Singapore Stars Fade With Boom-to-Gloom in Finance

    bloomberg.com 21 Jun '16, 9pm

    Thanks to those years of growth, the financial industry came to make up a significant shares of the twin cities’ economies. Singapore is home to more than 1,200 financial institutions including banks, insurers and finance companies, according to the Monetary Authority of Singapore. Th...

  • Winklevoss Twins Double Down on Bitcoin

    bloomberg.com 21 Jun '16, 4pm

    Cameron Winklevoss, co-founder and president at Gemini, and Tyler Winklevoss, co-founder and chief executive officer at Gemini, explain the function of their newly-launched U.K. bitcoin exchange and the similarity in trading between bitcoin and gold. They speak on "Bloomberg ‹GO›." (S...

  • Bitcoin's Golden Moment - Bloomberg Gadfly

    bloomberg.com 21 Jun '16, 6am

    Bitcoin is still mainly a gimmick favored by geeks who want to revolutionize the world and do away with central banks -- or by people in China wishing to take money out of the country. But of late, its appreciation suggests more investors may be seeing the unit as a store of value, on...

  • Singapore Passes Thailand on Misery Index’s Better End: Chart -

    bloomberg.com 19 Jun '16, 11pm

    Singapore has dropped below Thailand on the so-called Misery Index for the first time since December 2014, meaning the city-state has the lowest combination of consumer-price inflation and unemployment in the world. Singapore’s most-recent CPI rate was negative 0.5 percent and its off...

  • Brexit's False Allure - Bloomberg Gadfly

    bloomberg.com 16 Jun '16, 8am

    There are people in the City of London who want Britain to leave the European Union -- even as many financial firms warn a vote in favor of Brexit vote would roil markets, lead to job losses and send bankers packing to Frankfurt. Annual Trading Commissions £3.2 billion Their argument ...

  • China’s MSCI Index Denial a Boon for Singapore’s Regional Plans - Bloomberg

    bloomberg.com 15 Jun '16, 11pm

    What’s bad for China may be good for Singapore. MSCI Inc.’s decision to make China wait for its stocks to be added to global indexes is poised to direct investors to the city-state, which is home to a futures contract linked to mainland shares. Fund managers have been choosing to do b...

  • United to Have Sole U.S.-Singapore Nonstop Only Four Months

    bloomberg.com 15 Jun '16, 10pm

    Two weeks after United Airlines began the only nonstop flight from the U.S. to Singapore, departing from San Francisco, the city-state’s hometown carrier is responding with competing service. Singapore Airlines Ltd. will start a daily nonstop flight from Singapore to San Francisco on ...

  • Singapore Air to Challenge United With Nonstop Flights to U.S.

    bloomberg.com 15 Jun '16, 8pm

    Singapore Airlines Ltd. will restart nonstop flights to the U.S. three years after it stopped the services, ending the reign of United Airlines as the only carrier flying direct between the two nations. Singapore Air will start a daily nonstop flight from the city-state to San Francis...

  • Weather May Fix Singapore Haze as Indonesia Makes Scant Progress - Bloomberg

    Weather May Fix Singapore Haze as Indonesia Makes Scant Progress

    bloomberg.com 14 Jun '16, 10pm

    Indonesian officials don’t expect a repeat of the forest fires that cloaked Southeast Asia in a thick haze last year, though that may be due more to favorable weather than progress in addressing the underlying causes of the blazes. Smoke rises from a forest fire in South Sumatra, Indo...

  • Singapore Achieves Self Reliance in Water, Sees Demand Doubling

    bloomberg.com 13 Jun '16, 10pm

    Singapore has achieved self-reliance in water and is building more capacity to meet a projected doubling in demand in the next 45 years, a minister said. The city state, which has a contract to buy from neighboring Malaysia more than half its current daily water requirement of 400 to ...

  • Bitcoin Surges to Two-Year High as Supply Seen Shrinking in July

    Bitcoin Surges to Two-Year High as Supply Seen Shrinking in July

    bloomberg.com 13 Jun '16, 3am

    Bitcoin surged to a two-year high amid expectations supply of the digital currency will shrink next month. The cryptocurrency rallied to $683.89 on Monday in Hong Kong, the highest since February 2014, according to data compiled by Bloomberg. It traded at $677.93 as of 10:53 a.m., up ...

  • Singapore Urges U.S. Against Tweaking Big Pacific Trade Pact

    bloomberg.com 12 Jun '16, 10pm

    Any move by Congress to amend a massive Pacific trade pact -- the centerpiece of U.S. President Barack Obama’s rebalancing to Asia -- would risk the deal collapsing, according to the Singapore government. “It’s in the interests of all 12 parties that once we agree on the agreement, th...

  • QIA Said to Weigh Loan of Up to $2 Billion for Singapore Tower

    bloomberg.com 12 Jun '16, 2pm

    Qatar Investment Authority has approached banks for a loan of as much as $2 billion to finance its acquisition of BlackRock Inc.’s Asia Square Tower 1, according to three people with knowledge of the matter. The sovereign wealth fund has held preliminary talks with banks to borrow bet...

  • Singapore Aims to Prosecute Indonesian Polluters Under Haze Law - Bloomberg

    Singapore Aims to Prosecute Indonesian Polluters Under Haze Law

    bloomberg.com 10 Jun '16, 3am

    Singapore is prepared to prosecute any Indonesian companies found responsible for the fires that produced hazardous ash clouds last year, a minister said, standing his ground even as recent efforts to take firms to account drew ire from the country’s largest Southeast Asian neighbor. ...

  • A Crowdfunded Party in Singapore - Bloomberg Gadfly

    bloomberg.com 10 Jun '16, 1am

    Equity crowdfinancing will probably remain hostage to the so-called adverse selection problem until tech mania has subsided. So long as venture capital keeps throwing money at long shots, it's only the rejects that will show up to get crowdfunded. Besides, even the Singapore stock exc...

  • U.S. rear admiral pleads guilty to lying in bribery probe involving Singapore-based contractor

    Rear Admiral Admits Guilt as Top Officer Snared in Bribery Probe

    bloomberg.com 10 Jun '16, 12am

    A rear admiral became the highest-ranking U.S. Navy officer caught in an investigation of a Singapore-based contractor who plied commanders with cash, entertainment and prostitutes so they would steer ships to ports that were most lucrative to his business. Robert Gilbeau pleaded guil...

  • Singapore Loses to Hong Kong in Race for Most Competitive

    Singapore Loses to Hong Kong in Race for Most Competitive

    bloomberg.com 09 Jun '16, 11pm

    Singapore and Hong Kong have been vying for years to hold the crown of most competitive place to do business. Now a clear winner is emerging: Hong Kong. While Hong Kong is rising on world rankings for competitiveness, Singapore is sliding. The latest results from IMD, a Swiss business...

  • The King of Custom Rolexes Takes on Bulgari

    Bamford Watch Department's Next Custom Watch Is a Bulgari, Not Rolex

    bloomberg.com 09 Jun '16, 7pm

    Each of his creations starts its life as a brand new Rolex. (Occasionally Audemars Piguet and Patek Philippe enter the mix, too.) They are then stripped down to the very bare bones, and the process begins. His bright, bold, and often textured dials typically take about three weeks to ...

  • Sotheby's Important Watches Auction: Rolex and Patek Under $10,000

    bloomberg.com 08 Jun '16, 2pm

    Lot 5 — Rolex Daytona Ref. 116519 Normally seen in steel, this circa 2000 automatic chronograph is made in 18K white gold and runs 40mm wide. "A burgeoning watch collector, particularly one interested in vintage pieces, should look for brand name, rarity, condition, and complications ...

  • Sotheby's Important Watches Auction: Rolex and Patek Under $10,000

    bloomberg.com 08 Jun '16, 4am

    Lot 5 — Rolex Daytona Ref. 116519 Normally seen in steel, this circa 2000 automatic chronograph is made in 18K white gold and runs 40mm wide. "A burgeoning watch collector, particularly one interested in vintage pieces, should look for brand name, rarity, condition, and complications ...

  • Singapore Bond Market Frenzy Distorts Credit Costs, S&P Says

    bloomberg.com 07 Jun '16, 2am

    Corporate bond offerings by some of Singapore’s biggest companies are drawing such strong demand from investors that they are artificially lowering borrowing costs for weaker borrowers, according to S&P Global Ratings. Recent offerings from issuers such as state investment company Tem...

  • Winklevoss Twins: Bitcoin is Better Than Gold as Hedge

    bloomberg.com 07 Jun '16, 12am

    Tyler and Cameron Winklevoss, Co-Founders of Gemini Trust joins Bloomberg TV Canada's Pamela Ritchie to discuss why bitcoin is more stable than gold as a hedge, and why they are seeing opportunities in the Canadian bitcoin market. (Source: Bloomberg)

  • New military recruits could soon be lacing up New Balance sneakers

    New Balance Close to Win in Buy-America Foot Race for Military - Bloomberg Politics

    bloomberg.com 06 Jun '16, 3pm

    New Balance Athletic Shoe Inc. is close to winning an almost decade-long marathon: A buy-American provision in the massive defense policy bill the Senate will debate this week could force the Pentagon to purchase the company’s sneakers for new military recruits. Currently, the Pentago...

  • Qatari Fund Buys $2.5 Billion Singapore Tower From BlackRock

    Qatar Fund Buys Singapore Office Tower for S$3.4 Billion

    bloomberg.com 06 Jun '16, 2am

    Qatar Investment Authority, the sovereign wealth fund of the Middle Eastern country, agreed to buy BlackRock Inc.’s Asia Square Tower 1 for S$3.4 billion ($2.5 billion) in the biggest office transaction in Singapore. Asia Square complex in Singapore. Photographer: Munshi Ahmed/Bloombe...