bloomberg.com Archives - 02 September 2014, Tuesday

  • Yves Carcelle, the executive who built Louis Vuitton into a luxury powerhouse, has died at 66.

    Yves Carcelle, Who Built Luxury Brand Louis Vuitton, Dies at 66

    bloomberg.com 01 Sep '14, 11am

    Yves Carcelle, the former chief executive officer who turned Louis Vuitton into the world’s largest and most valuable luxury brand, has died. He was 66. Carcelle died yesterday following a long illness, Paris-based LVMH Moet Hennessy Louis Vuitton SA (MC) , which owns Vuitton, said to...

  • Watch nuts: Rolex's newest and bluest Sea-Dweller is a heavy metal work of art - at a price via @Blo…

    In the Metal: The Rolex Sea-Dweller Deepsea D-Blue

    bloomberg.com 30 Aug '14, 12pm

    It's not often that Rolex releases a watch outside of the annual Baselworld trade show that takes place each spring. But just a few short weeks ago, Rolex unveiled the Deepsea D-Blue to coincide with the release of National Geographic's Deepsea Challenge 3D, a documentary chronicling ...

  • How RGM Watch Company Is Building a $95K Rolex Killer: Video

    bloomberg.com 26 Aug '14, 3am

    Aug. 26 (Bloomberg) –- Roland Murphy is the only mechanical watchmaker who crafts his timepieces almost entirely in the U.S. He shows Bloomberg how he uses a blend of modern technology and old world engraving techniques to make watches that cost upwards of $95,000. Video By: Alex Dean...

  • Singapore Dollar’s Losses to Ringgit Seen Widening: Asean Credit -

    bloomberg.com 19 Aug '14, 3am

    The diverging economic fortunes of two Southeast Asian neighbors are prompting PineBridge Investments to favor Malaysia’s ringgit over Singapore ’s dollar. The ringgit has gained 4 percent to 2.53 per Singapore dollar since reaching a 16-year low of 2.63 in February, data compiled by ...

  • Mt. Gox Insider’s Kraken Bitcoin Exchange to Open in Japan

    Mt. Gox Insider’s Kraken Bitcoin Exchange to Open in Japan -

    bloomberg.com 17 Aug '14, 10pm

    Competition for a slice of Japan’s virtual currency market is intensifying as new entrants seek to take advantage of the vacuum left by Mt. Gox. BitFlyer began offering services in April. BitOcean, a Chinese startup, joined with New York-based Atlas ATS Inc. to bid for the assets of t...

  • Lee to Add Funding Options for Singapore Retirees as Nation Ages - Bloomberg

    Lee to Add Funding Options for Singapore Retirees as Nation Ages

    bloomberg.com 17 Aug '14, 4pm

    Singapore will broaden the options for its citizens to monetize state-subsidized homes and may offer greater flexibility for retirees to draw funds from the mandatory savings program, Prime Minister Lee Hsien Loong said. A plan that lets elderly citizens sell part of their leases on s...

  • Singapore Housing Purchases Drop as Rates Poised to Rise - Bloomberg

    Singapore Housing Purchases Drop as Rates Poised to Rise

    bloomberg.com 13 Aug '14, 10pm

    James Hee, a property agent who lives with his family of four in a government-built flat he owns in Singapore , was eyeing a condo for about S$1.5 million ($1.2 million) earlier this year. Then Hee discovered that he wouldn’t qualify for a mortgage after the government restricted lend...

  • Singapore's economy unexpectedly expands as outlook improves

    Singapore’s Economy Unexpectedly Expands as Outlook Improves -

    bloomberg.com 12 Aug '14, 12am

    Singapore ’s economy unexpectedly expanded last quarter as manufacturing declined less than initially estimated amid recoveries in advanced countries. Gross domestic product rose an annualized 0.1 percent in the three months through June from the previous quarter, when it climbed a re...

  • Singapore Says Emerging Nations Would Welcome Normal Fed Policy

    bloomberg.com 11 Aug '14, 5am

    Emerging economies would benefit from more normal monetary policies globally including rate increases and an end to asset purchases sooner rather than later, given the side effects of the unconventional measures, Singapore ’s central bank said. Most of the city state’s emerging-market...

  • Crossing Link to Singapore May Cost You $20 More Thanks to Spat - Bloomberg

    Crossing Link to Singapore May Cost You $20 More Due to Spat

    bloomberg.com 10 Aug '14, 11pm

    Singapore and Malaysia are engaged in a tit-for-tat over fees they charge vehicles crossing a vital link between the two nations. People like Paul Lim expect to pay the price. It began with a decision by Singapore to raise the levy on foreign-registered vehicles visiting the island st...

  • Ecuador

    Bitcoin-Like Money Is Ecuador’s Latest Dollar-Saving Plan -

    bloomberg.com 05 Aug '14, 12pm

    After mortgaging most of Ecuador ’s oil and gold to finance spending, President Rafael Correa is planning to create virtual money to pay the nation’s bills. Congress last month approved legislation to start a digital currency for use alongside the U.S. dollar , the official tender in ...

  • US Continues Testing Surveillance Plane in Singapore Exercise - Bloomberg

    U.S. Continues Testing Surveillance Plane in Singapore Exercise

    bloomberg.com 04 Aug '14, 12am

    A U.S. surveillance plane is joining Singapore ’s military in exercises as the navy tests the aircraft’s capabilities after the Pentagon found it ineffective at some tasks. The P-8A Poseidon, a Boeing Co. 737-800 modified with radar and sensors, is conducting anti-submarine and surfac...

  • Singapore's Great Sale That Wasn't: China Tourists Staying Away - Bloomberg

    Singapore’s Great Sale That Wasn’t: China Tourists Staying Away - Bloomberg

    bloomberg.com 03 Aug '14, 4pm

    Retailers billed it as the Great Singapore Sale. Chinese tourist Zhu Liang bought it, only to regret afterward. “We will never come here again to shop on purpose,” said Zhu, a 35-year-old businessman from Hangzhou. Visiting the city during the final days of the summer sale season in J...

  • Wall Street gathers at bitcoin conference to figure out what #bitcoin is:

    Wall Street Gathers at Bitcoin Conference to Figure Out What Exactly Bitcoin Is

    bloomberg.com 31 Jul '14, 9pm

    I've been to quite a few bitcoin gatherings, where the standard attire is a sweaty T-shirt and sneakers. This week's Digital Currencies conference in New York was different. It felt more like a Wall Street confab than the usual fellowship of the neckbeards. The suits were out in full ...

  • Hong Kong, Singapore Popping Housing Bubbles: Video

    bloomberg.com 30 Jul '14, 4am

    July 30 (Bloomberg) -- Prompted by concerns over potential property bubbles and affordability for the middle class, the governments of Hong Kong and Singapore have been reining in home prices by imposing measures including mortgage caps, taxes on property flippers and levies on foreig...

  • Hong Kong Popping Housing Bubbles London Can't Handle - Bloomberg

    Singapore Popping Housing Bubbles London Can’t Handle -

    bloomberg.com 29 Jul '14, 11pm

    Take a look at the world’s dizzying surges in the price of housing for 12 months at the end of June: London, up 20 percent. Manhattan , 18 percent. Sydney, 15.4 percent. Then there are Singapore and Hong Kong: down 3.7 percent and 0.6 percent. Prompted by concerns over potential prope...

  • Singapore’s Keppel Land Makes First Property Investment in U.S. -

    bloomberg.com 29 Jul '14, 1am

    Keppel Land Ltd. (KPLD) , Singapore’s third-biggest developer by value, made its maiden investment in the U.S. with a prime residential development in New York City . The project is valued at about $70 million, the company said in a statement to the Singapore stock exchange. The prope...

  • Gold Bugs Meet Bitcoin Believers to Supplant the Dollar

    Gold Bugs Meet Bitcoin Believers to Supplant the Dollar

    bloomberg.com 28 Jul '14, 4am

    It’s what you get when you combine bitcoin, one of the world’s newest would-be currencies, and gold, one of the oldest. Add mistrust of centralized authority, a dash of rebelliousness and a dollop of profit motive and you might have the Independence Coin, the first gold-backed crypto-...

  • Singapore Set to Get LNG Cargo From Indonesia for Third Tank

    bloomberg.com 28 Jul '14, 12am

    Singapore LNG Corp., which operates the Asian city-state’s first receiving terminal, is set to get a liquefied natural gas cargo for its third tank delivered today by the vessel Wilpride. “We confirm that the Singapore LNG Terminal will be receiving a cargo of LNG that is not intended...

  • Japan, Israel to Bolster Defense Cooperation as Netanyahu Visits

    bloomberg.com 25 Jul '14, 11am

    Prime Minister Shinzo Abe and Israeli Prime Minister Benjamin Netanyahu will announce an agreement today in Tokyo for the two countries to increase defense cooperation, a foreign ministry official said. The enlarged exchanges could include mutual visits by ministers and senior members...

  • How Does Bitcoin Mining Work?: Video

    bloomberg.com 24 Jul '14, 5am

    July 24 (Bloomberg) –- Bitcoin mining is the complicated process through which new bitcoins are made. So how does it work? Bloomberg and Switch-Video explain. (Source: Bloomberg)

  • Singapore's Central Bank Says Too Early to Ease Property Curbs - Bloomberg

    Singapore’s Central Bank Says Too Early to Ease Property Curbs -

    bloomberg.com 24 Jul '14, 4am

    Monetary Authority of Singapore said it’s too early for the city-state to ease property measures that are helping curb surging residential prices. “Property prices, they remain at elevated levels, although they’ve just started to soften,” Ravi Menon, managing director of the MAS, as t...

  • Ex-Goldman Trader’s Bitcoin Exchange to Fill Mt. Gox Void -

    bloomberg.com 22 Jul '14, 8pm

    Yuzo Kano quit Goldman Sachs Group Inc. (GS) twice: once for a rival bank, the second time to open Japan ’s first bitcoin exchange since the collapse of Mt. Gox. When Kano, 38, left his job as a derivatives and convertible bonds trader in December, bitcoin had climbed to a record $1,1...

  • South Korea Movie Producer Jumps 54% in Debut: Singapore Mover

    bloomberg.com 22 Jul '14, 2am

    Spackman Entertainment Group (SEG) , the South Korean movie producer of films such as “Snowpiercer,” surged 54 percent in its trading debut in Singapore as the first Korean entertainment company to list in the city state. The shares jumped to 40 Singapore cents from its offer price of...

  • #bitcoin

    Bitcoin Dominance Challenged as Danish Bourse Offers NXT Trading

    bloomberg.com 18 Jul '14, 9am

    Denmark’s virtual-currency bourse says it will become the world’s first to allow clients to swap dollars and euros for NXT, the fourth-largest crypto-payment form which until now has only been traded via bitcoin. The CCEDK Crypto Coins Exchange Denmark ApS, which opened in May, will s...

  • Singapore Top Court Tackles Challenge to 1938 Gay-Sex Ban via @BloombergNews

    Singapore Top Court Tackles Challenge to 1938 Gay-Sex Ban

    bloomberg.com 14 Jul '14, 2am

    Singapore ’s highest court is hearing challenges to a 76-year-old ban on gay sex, a divisive issue after India reversed a decision to strike down a similar law and same-sex marriage was allowed in New Zealand last year. Lawyers for Kenneth Chee and Gary Lim argued that the ban, first ...

  • Singapore GDP contracts in 2nd quarter as manufacturing falls

    Singapore GDP Unexpectedly Shrinks as Manufacturing Declines

    bloomberg.com 14 Jul '14, 12am

    Singapore ’s economy unexpectedly contracted in the second quarter as a tight labor supply and company moves to shift production overseas hurt manufacturing. Gross domestic product fell an annualized 0.8 percent in the three months through June from the previous quarter, when it expan...

  • Bitcoin Domain-Name Prices Defy Drop in Virtual Currency’s Value -

    bloomberg.com 11 Jul '14, 4am

    Bitcoin’s 46 percent decline in the value since its December peak hasn’t damped a surge in prices for Internet domain names related to the virtual currency. Entrepreneur Niko Younts said he sold the BitcoinWallet.com name in January for $250,000 -- 23 times what he paid a month earlie...

  • Bitcoin by Bitcoin, the Winklevii ETF Inches Closer to Reality via @BloombergNews

    Bitcoin by Bitcoin, the Winklevii ETF Inches Closer to Reality

    bloomberg.com 10 Jul '14, 3pm

    It looks increasingly that the Winklevoss Bitcoin Trust (COIN) will actually launch. If it hits the market later this year, it will come a decade after the inception of the world's largest gold fund, SPDR Gold Shares (GLD ). COIN was modeled on GLD and in some ways is trying to be a n...

  • Sundaram Asset Starts New India Fund From Singapore on Modi Win

    bloomberg.com 08 Jul '14, 2am

    Sundaram Asset Management Co., whose India midcap fund has returned almost 30 percent for the past 12 years, opened its first offering that will be managed from Singapore on expectations medium-sized Indian companies will benefit from Prime Minister Narendra Modi ’s reforms. The Sunda...