bloomberg.com Archives - 26 July 2016, Tuesday

  • Las Vegas Sands Rises Amid Signs of Turnaround in Macau

    Las Vegas Sands Rises Amid Signs of Turnaround in Macau

    bloomberg.com 25 Jul '16, 9pm

    Las Vegas Sands Corp., the world’s largest casino company, rose in extended trading on signs a two-year slump in betting is easing in the Chinese enclave of Macau. The company’s mass-market gaming revenue in Macau rose in June for the first time in two years, Sands executives said Mon...

  • Florida State Judge Rules Bitcoin Doesn’t Qualify as Money -

    bloomberg.com 25 Jul '16, 5pm

    A Florida state judge threw out money-laundering charges against a man who was accused of illegally selling $1,500 of bitcoins to undercover detectives, concluding the virtual currency doesn’t qualify as money. QuickTake Bitcoin and Blockchain Michell Espinoza was cleared Monday by Mi...

  • Singapore Regulator Vows Action After Reputation Dented by 1MDB

    Singapore Vows Tougher Stance After 1MDB Dents Reputation

    bloomberg.com 25 Jul '16, 5am

    Singapore’s regulatory chief vowed stronger action to address the reputational damage caused by anti-money laundering lapses at banks in the city linked to the troubled state investment fund 1Malaysia Development Bhd. The shortcomings uncovered by the Monetary Authority of Singapore’s...

  • Singapore charges Malaysian with spoofing

    Singapore Regulator Charges Malaysian Investor With Spoofing

    bloomberg.com 22 Jul '16, 8am

    Singapore has charged a Malaysian investor with spoofing on the city’s securities market. Dennis Tey Thean Yang was accused of buying and selling contracts for differences in the underlying securities of companies including Guocoland Ltd. and Asia Power Corp. with the intent to defrau...

  • Singapore's first Michelin guide launches - with just one three-star restaurant

    There's Only One Three-Star Restaurant in Singapore's Debut Michelin Guide

    bloomberg.com 22 Jul '16, 4am

    The tiremaker and publisher handed out its top accolade to just one establishment on Thursday — French celebrity chef Joël Robuchon’s eponymous restaurant . It was the first time that the Southeast Asian city’s dining scene faced the anonymous scrutiny of Michelin’s inspectors, who ra...

  • Singapore Office Rents Decline at Faster Pace as Demand Drops

    bloomberg.com 22 Jul '16, 2am

    Singapore office rents declined at a faster pace in the second quarter as an oversupply and weak demand curbed prices sought by landlords. A gauge of office rents fell 3.5 percent in the three months ended June, data Friday from the Urban Redevelopment Authority showed. That’s more th...

  • Singapore Puts 1MDB-Linked Banks on Notice: We’re Not Done -

    bloomberg.com 21 Jul '16, 6pm

    Singapore’s central bank, which on Thursday singled out banks including UBS Group AG for lapses related to Malaysia’s scandal-riven investment fund, also put other financial firms on notice that it isn’t done probing the sector. In a statement Thursday, the Monetary Authority of Singa...

  • business: Hermes sales trounce estimates on demand for Birkin bags

    Hermes Sales Trounce Estimates on Demand for Birkin Bags

    bloomberg.com 21 Jul '16, 6am

    Hermes International SCA solidified its status as the luxury industry’s go-to label, proving that customers are willing to ignore growing economic uncertainty and spend thousands of dollars on must-have leather handbags. Sales rose 8.1 percent excluding currency shifts, Paris-based He...

  • Singapore Found UBS, DBS, StanChart Failings in 1MDB Probe

    bloomberg.com 21 Jul '16, 4am

    Singapore vowed to take action against four banks for failures in anti-money laundering controls and said it seized S$240 million ($177 million) in assets linked to alleged fraud at the Malaysian state investment company known as 1MDB. Preliminary findings uncovered “instances of cont...

  • Louis Vuitton is getting into perfume

    Thanks to Louis Vuitton You Can Soon Smell Like Your Handbag

    bloomberg.com 21 Jul '16, 3am

    After years of persuading well-heeled shoppers to carry monogrammed luggage and wear luxury clothing, Louis Vuitton is targeting how they smell. In September, the label, owned by French conglomerate LVMH, will begin stocking its 473 stores with perfumes, including at least one infused...

  • Temasek offers S$1.18 billion to buy rest of Singapore's SMRT

    Temasek Offers S$1.18 Billion to Buy Out Singapore’s SMRT -

    bloomberg.com 20 Jul '16, 10am

    Singapore state investment firm Temasek Holdings Pte offered S$1.18 billion ($869 million) to buy out SMRT Corp. as the nation’s biggest subway operator undergoes a reform after multiple service disruptions in the past few years. The offer values the company at S$2.565 billion, Temase...

  • Singapore Seeks U.S. Chapter 11 Prowess in Bankruptcy Reform

    bloomberg.com 20 Jul '16, 3am

    Singapore is seeking to enhance its position as a center for debt restructuring by giving its insolvency law some of the powers of the U.S. bankruptcy code’s Chapter 11, just as companies worldwide default on bonds at the fastest pace since the global financial crisis. The government ...

  • Singapore Exchange Blames Faulty Disk for Market’s Trading Halt -

    bloomberg.com 19 Jul '16, 5am

    Singapore Exchange Ltd., whose stock market suffered a five-hour halt last week, said the issues were caused by a hard disk failure and an application that didn’t detect the fault. The exchange has replaced the disk and submitted an interim report to the Monetary Authority of Singapor...

  • via @technology

    Asia Embraces Bullet Trains as Singapore-Malaysia Deal Looms

    bloomberg.com 18 Jul '16, 10pm

    Asia is embracing bullet trains like never before. Singapore and Malaysia are set to sign an agreement Tuesday that will bring a high-speed rail link to Kuala Lumpur one step closer to reality. That follows a $5.5 billion project already underway in Indonesia while India last year cho...

  • Temasek Said to Weigh Buyout of Singapore Subway Operator SMRT

    bloomberg.com 18 Jul '16, 4am

    Singapore state investment company Temasek Holdings Pte is considering a buyout offer for SMRT Corp., the city-state’s biggest subway operator, a person with knowledge of the matter said. Temasek is weighing an offer to buy all the shares it doesn’t already own in SMRT, according to t...

  • Singapore Bondholders Brace for Defaults as Easier Terms Sought

    bloomberg.com 17 Jul '16, 11pm

    Singapore dollar bondholders, already stung by the first default since 2009, face more companies struggling to meet the terms of their debt, after two oil and gas companies sought to extend maturities. Ausgroup Ltd. and Otto Marine Ltd. are among 10 Singapore-listed firms that have st...

  • The CEO of Singapore's exchange has apologised for a technical malfunction that angered traders

    Singapore Exchange CEO Sorry for Halt That Angered Traders

    bloomberg.com 15 Jul '16, 8am

    Singapore Exchange Ltd. Chief Executive Officer Loh Boon Chye apologized for a technical malfunction that angered traders, promising to do better and saying the company will be accountable for Thursday’s five-hour halt that attracted a rebuke from the city-state’s central bank. The Mo...

  • Singapore plans legislation to secure data collected by firms

    Singapore Plans Legislation to Secure Data Collected by Firms

    bloomberg.com 14 Jul '16, 11pm

    Singapore will introduce legislation to protect sensitive data used by mobile app developers and other companies as the city-state intensifies its push to become one of the world’s leading technology hubs. Vivian Balakrishnan, minister-in-charge of Singapore’s Smart Nation program, sa...

  • Palm Oil's Bear Market Won't Help Relieve Singapore's Haze - Bloomberg

    Palm Oil's Bear Market Won't Help Relieve Singapore's Haze

    bloomberg.com 14 Jul '16, 10pm

    Nearly a year after haze from Indonesian forest fires created some of the worst air pollution ever in Singapore, fire season is starting again. The Indonesian government agency in charge of disaster mitigation said via a Twitter post on July 13 that an alert was in effect until Oct. 8...

  • via @business

    Singapore Exchange Says Trading to Resume at 2 p.m. After Halt

    bloomberg.com 14 Jul '16, 5am

    Singapore Exchange Ltd. halted all equities trading on its market Thursday morning, suspending shares including DBS Group Holdings Ltd. and Singapore Airlines Ltd. The bourse said in an e-mail the measure was temporary, and that trading would resume at 2 p.m. The halt was caused by du...

  • Live TV

    bloomberg.com 14 Jul '16, 12am

    Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

  • Why it costs $87,000 to get a Corolla on the road in Singapore

    In the Land of $87,000 Corollas, Cars Got Pricier Again

    bloomberg.com 14 Jul '16, 12am

    Buyers in one of the world’s most expensive car markets just missed their chance to snag one at the cheapest price in five years. Car-ownership permit costs in Singapore have gained since February after ride-hailing companies obtained licenses for their fleets and the regulator eased ...

  • Brexit Turns Bitcoin Into an Unlikely Haven Currency: Chart

    bloomberg.com 08 Jul '16, 8am

    While bitcoin is not exactly regarded as stable — it’s bounced around between $2 and $1,137 over the past five years — it’s become an unlikely haven for currency investors in the aftermath of Brexit. On Tuesday, the 10-day historical volatility of bitcoin dropped below the pound’s. Op...

  • Brexit Turns Bitcoin Into an Unlikely Haven Currency: Chart

    bloomberg.com 08 Jul '16, 6am

    While bitcoin is not exactly regarded as stable — it’s bounced around between $2 and $1,137 over the past five years — it’s become an unlikely haven for currency investors in the aftermath of Brexit. On Tuesday, the 10-day historical volatility of bitcoin dropped below the pound’s. Op...

  • Brexit Haven? Singapore Will Say No - Bloomberg Gadfly

    bloomberg.com 07 Jul '16, 9pm

    Singapore's policy makers have a fondness for boats. Or so it seems from recurring images of "a small vessel in choppy waters" in their descriptions of the island's economy during turbulent times. The market could do with a reminder of that metaphor. In the pre- and post-Brexit tumult...

  • Near-record-high Singapore dollar puts pressure on central bank to ease again

    Singapore Dollar Near Record High Puts Heat on MAS to Ease Again

    bloomberg.com 07 Jul '16, 5pm

    Haven buying of the Singapore dollar amid global market turmoil has pushed a gauge of its strength to unprecedented levels, putting pressure on the city’s central bank to do more to support the economy. The Monetary Authority of Singapore’s trade-weighted measure of the currency reach...

  • via @technology

    After 4,400% Surge, Bitcoin’s Fate Hinges on Huge Chinese Miners -

    bloomberg.com 06 Jul '16, 10pm

    Wu Jihan still remembers the exhilaration he felt after learning about bitcoin in 2011. A self-described computer geek fresh out of China’s top university, Wu soaked up everything he could about the digital currency’s mysterious founder and its users’ ambitions to transform the global...

  • Singapore Airlines to Allow Passengers to Bid for Seat Upgrades - Bloomberg

    Singapore Airlines to Allow Passengers to Bid for Seat Upgrades

    bloomberg.com 06 Jul '16, 6am

    Singapore Airlines Ltd. has introduced a system that would allow a few select passengers to bid online for a seat upgrade a few days before their departure. The city-state’s flag carrier, at its discretion, will invite fliers who have booked economy class seven days in advance to bid ...

  • Beer Drinkers in Thailand Power Singapore's Best Stock in 2016 - Bloomberg

    Beer Drinkers in Thailand Power Singapore’s Best Stock in 2016 -

    bloomberg.com 04 Jul '16, 11pm

    The biggest gainer among Singapore’s stocks this year is a foreigner. Thai Beverage Pcl has jumped 37 percent to a record in 2016, benefiting from rising consumption in Thailand, where stimulus and low interest rates have driven the benchmark index to the highest level in almost a yea...

  • Cathay Pacific's Slump Makes Singapore Airlines Look Good: Chart - Bloomberg

    Cathay Pacific’s Slump Makes Singapore Airlines Look Good: Chart -

    bloomberg.com 04 Jul '16, 11pm

    The onslaught of Asian budget airlines has dented the fortunes of the region’s premium carriers, Cathay Pacific Airways Ltd. and Singapore Airlines Ltd. Cathay has been worst hit , with its stock tumbling 41 percent in the past 12 months amid competition from mainland Chinese carriers...