bloomberg.com Archives - 18 April 2014, Friday

  • 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...

  • 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...

  • 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...

  • 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 ...

  • Singapore Home Prices Slide for Second Straight Quarter

    Singapore Home Prices Slide for Second Straight Quarter

    bloomberg.com 01 Apr '14, 2am

    Singapore ’s first-quarter home prices slid for a second consecutive quarter as tighter mortgages cooled demand in Asia ’s second-most expensive housing market. An index tracking private residential prices fell 1.3 percent to 211.6 points in the three months ended March 31 following a...

  • Here's How Bitcoin Is Like the Early '90s Internet: Video

    bloomberg.com 28 Mar '14, 1pm

    's estimated $34 million collection. We will show you how you can bid on one of his picassos or monets. I will see you back here in two. ? microsoft ceo satya nadella says he will hold nothing back in his effort to get microsoft programs across all devices. The company believes office...

  • 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,...

  • Singapore Girl Makes Bond Comeback as City Booms: Asean Credit via @BloombergNews

    Singapore Girl Makes Bond Comeback as City Booms: Asean Credit

    bloomberg.com 28 Mar '14, 4am

    Singapore Airlines Ltd. (SIA) sold its first bond in more than three years as an outperforming economy drives the city’s busiest debt sales in six quarters. Southeast Asia ’s biggest carrier, whose iconic Singapore Girl travels the globe inspecting items served to flyers in a new adve...

  • 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...

  • UBS Said to Suspend FX Traders in New York, Zurich and Singapore

    UBS Said to Suspend Traders in New York, Zurich, Singapore

    bloomberg.com 27 Mar '14, 4am

    UBS AG suspended foreign-exchange traders in the U.S., Singapore and Switzerland as its investigation into the alleged rigging of currency markets widened, according to a person with knowledge of the matter. They include Onur Sert , an emerging-markets spot trader based in New York, 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-...

  • Mulberry CEO steps down after British handbag maker lost two-thirds of its market value

    Mulberry CEO Bruno Guillon Steps Down Amid Share Price Slump

    bloomberg.com 20 Mar '14, 9am

    Mulberry Group Plc (MUL) said Bruno Guillon will step down as chief executive officer after two years during which the British luxury handbag maker lost two-thirds of its market value. Guillon, who joined Mulberry from Hermes International SCA in March 2012, will leave immediately, So...

  • 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...

  • Benchmark Backs Bitcoin Secure Storage Provider Xapo

    bloomberg.com 13 Mar '14, 8pm

    Xapo Ltd. , a provider of secure online storage for Bitcoins, has raised $20 million in a first round of funding led by venture capital firm Benchmark . Ribbit Capital , a Silicon Valley venture firm that invests in technologies for financial services, and Fortress Investment Group LL...

  • Singapore

    Singapore to Regulate Bitcoin Operators to Curb Money Laundering

    bloomberg.com 13 Mar '14, 11am

    Singapore plans to regulate virtual-currency intermediaries including operators of Bitcoin exchanges and vending machines to address potential money-laundering and terrorist-financing risks. The Monetary Authority of Singapore will require intermediaries that facilitate the exchange o...

  • Goldman Sachs Sees Bitcoin Future in Payments Over Money

    bloomberg.com 12 Mar '14, 6pm

    Goldman Sachs (GS) Group Inc. analysts see Bitcoin as an innovative payments technology while doubting that it will evolve into a true alternative currency, according to a research report released today. In the report, titled “All About Bitcoin,” the researchers write that they examin...

  • Singapore stock broker exodus seen quickening

    Singapore Broker Exodus Seen Quickening: Southeast Asia

    bloomberg.com 12 Mar '14, 2am

    Singapore’s shrinking brokerage industry is set to get even smaller as trading restrictions planned by regulators dent profits, according to a body that represents individual brokers. The average daily value of shares traded in the city, which slumped 40 percent in the first two month...

  • Nakamoto Named as Bitcoin Father Denies Involvement, Flees via @BloombergNews

    Nakamoto Named as Bitcoin Creator Denies Involvement

    bloomberg.com 06 Mar '14, 11pm

    A 64-year-old physicist, identified by Newsweek magazine as Bitcoin’s creator, was chased by reporters through Los Angeles and denied any role in the digital currency, saying he first heard of it three weeks ago. Hours after Newsweek published a profile of Dorian S. Nakamoto, the form...

  • via @BloombergNews

    Singapore to Overtake Tokyo as Asia’s Wealthy Hub in 2023 -

    bloomberg.com 05 Mar '14, 1pm

    Singapore is poised to surpass Tokyo as the Asian city with the most ultra-high-net-worth individuals within a decade as its stature as a financial center increases with the region’s growth. Singapore will have 4,878 people with $30 million or more in assets excluding their principal ...

  • Mt. Gox Seeks Bankruptcy After $480 Million Bitcoin Loss

    Mt. Gox Seeks Bankruptcy After $480 Million Bitcoin Loss

    bloomberg.com 28 Feb '14, 11am

    Mt. Gox, once the world’s largest Bitcoin exchange, filed for bankruptcy in Japan saying about $480 million in Bitcoins belonging to its customers and the firm were missing. “The company believes there is a high possibility that the Bitcoins were stolen,” Mt. Gox said in a statement. ...

  • Singapore Top Executive Pay Beats Hong Kong as Living Costs Jump - Bloomberg via @BloombergNews

    Singapore Top Executive Pay Beats Hong Kong as Living Costs Jump

    bloomberg.com 25 Feb '14, 4am

    Singapore’s top executives are making more money than those in Hong Kong , with the gap expected to widen as living costs in the island republic rise, according to human resources consultant Towers Watson & Co. (TW) Senior executives in Singapore earned 19 percent more than their Hong...

  • Bitcoin Seen by Payment Networks as Little Threat to Dominance - Bloomberg

    Bitcoin Seen by Payment Networks as Little Threat

    bloomberg.com 24 Feb '14, 8am

    Investors in the digital currency are looking to capture some of the four firms’ combined $61.3 billion in annual revenue and loosen their decades-long grip on handling electronic payments. While Bitcoin can buy a widening array of goods and services, regulatory scrutiny and technical...

  • Citigroup Downplays Property Bubble in Singapore: Southeast Asia

    bloomberg.com 23 Feb '14, 4pm

    Citigroup Inc. (C) said it’s “encouraging” that the city’s household debt tied to the real estate market is only a fraction of property values, downplaying concerns of a bubble. Singapore’s S$203 billion ($160 billion) of mortgages amounted to 24.2 percent of the value of residential ...

  • First Bitcoin ATM Opens Today in Texas: Video

    bloomberg.com 20 Feb '14, 11pm

    Feb. 20 (Bloomberg) –- CTO For Bitcoin Agents Reza Piri discusses the other markets where Robocoin machines will be popping up and how the machines are bringing liquidity to the bitcoin market. He speaks to Matt Miller and Trish Regan on Bloomberg Television’s “Street Smart.” (Source:...

  • Singapore economy expanded last quarter after production pick-up

    Singapore Economy Grew Last Quarter After Production Pick-Up

    bloomberg.com 20 Feb '14, 12am

    Singapore ’s economy expanded last quarter after a pick-up in manufacturing at the year end, with the government predicting an improvement in overseas demand in 2014 amid a global recovery. Gross domestic product rose an annualized 6.1 percent in the three months through December from...

  • #Singapore #Bubble update - Singapore’s Soaring Land Prices ‘Suicidal’ for Developers:

    Singapore’s Soaring Land Prices ‘Suicidal’ for Developers - Bloomberg

    bloomberg.com 19 Feb '14, 10pm

    Billionaire developer Kwek Leng Beng said last year that skyrocketing prices and restrictive rules made buying residential land in Singapore “suicidal.” That hasn’t stopped international developers from rushing in. Land prices in some parts of the island-state are climbing at three ti...

  • Singapore Plane Spree Anything But Plain Vanilla: Southeast Asia - Bloomberg

    Singapore $32B Plane Spree Anything but Plain Vanilla

    bloomberg.com 16 Feb '14, 5pm

    Airbus Group NV (AIR) and Boeing Co. (BA) spent a week with Asian companies sounding more like cocktails than airlines, some of which didn’t exist a year ago, highlighting the region’s status as one of the most dynamic aircraft markets. More from the Singapore Airshow: Not Just Planes...

  • Can Bitcoin Come Back from Multiple Hacks?: Video

    bloomberg.com 14 Feb '14, 9pm

    Feb. 14 (Bloomberg) –- Boston University Master Lecturer and Former Federal Reserve Bank Examiner Mark Williams, Blockchain Chief Security Officer Andreas Antonopoulos and Bloomberg’s Matt Miller discuss the vulnerability of digital currencies after Bitcoin was hacked multiple times l...

  • Singapore's biggest banks post higher profit on interest income

    Singapore’s Biggest Banks Post Profit Gain on Lending Income -

    bloomberg.com 14 Feb '14, 1am

    DBS Group Holdings Ltd. (DBS) and Oversea-Chinese Banking Corp. (OCBC) , Southeast Asia ’s two biggest lenders, posted an increase in fourth-quarter core profit as interest income climbed. DBS’s net income excluding one-time gains rose 6 percent to S$802 ($634 million) for the quarter...

  • Miami Bitcoin Arrests May Be First State Prosecution

    bloomberg.com 09 Feb '14, 6pm

    Two South Florida men were arrested last week on what a local prosecutor said may be the first state law charges over the use of Bitcoin virtual currency as part of an alleged money laundering scheme. Pascal Reid, 29, and Michel Abner Espinoza, 30, face two counts of money laundering ...