reuters.com Archives - 22 December 2014, Monday

  • Bitcoin backer gets two years prison for illicit transfers

    reuters.com 19 Dec '14, 10pm

    NEW YORK (Reuters) - Charlie Shrem, an outspoken supporter of bitcoins, was sentenced to two years in prison on Friday for indirectly helping to send $1 million in the digital currency to the Internet black-market bazaar Silk Road. Shrem, a former vice chairman of the Bitcoin Foundati...

  • Bitcoin backer gets two years prison for illicit transfers

    reuters.com 19 Dec '14, 9pm

    NEW YORK (Reuters) - Charlie Shrem, an outspoken supporter of bitcoins, was sentenced to two years in prison on Friday for indirectly helping to send $1 million in the digital currency to the Internet black-market bazaar Silk Road. Shrem, a former vice chairman of the Bitcoin Foundati...

  • Brent steady below $60, heads for fourth weekly decline as oversupply persists: SINGAPORE (Reuters) - Brent cr...

    Brent steady below $60, heads for 4th weekly decline as glut persists

    reuters.com 19 Dec '14, 4am

    SINGAPORE (Reuters) - Brent crude held below $60 a barrel, near a 5-1/2-year low, on Friday as a global oversupply of oil showed little sign of receding, even as companies cut upstream investments next year. Oil prices were on track for a fourth straight week of declines after OPEC me...

  • New York regulator lays out tweaks to bitcoin rules

    New York regulator lays out tweaks to bitcoin rules

    reuters.com 18 Dec '14, 4pm

    WASHINGTON (Reuters) - New York state plans to soften proposed rules for virtual currencies such as bitcoin, its banking regulator said on Thursday, after receiving a round of public comments. Start-up companies dealing in the budding technology could get a two-year partial waiver fro...

  • Formation 8 venture capital firm adds new partner in Singapore

    reuters.com 16 Dec '14, 5pm

    SAN FRANCISCO (Reuters) - Formation 8, the venture-capital firm known for backing virtual-reality company Oculus VR, said it was beefing up its Asian operations by adding a partner in Singapore, investor Joel Sng. By hiring Sng, Formation 8 hopes to stand out from the pack of U.S.-bas...

  • Standard Chartered to sell Hong Kong consumer business to Pepper-linked consortium: sources: SINGAPORE/HONG KO...

    Standard Chartered to sell Hong Kong consumer business to Pepper-linked consortium: sources

    reuters.com 16 Dec '14, 3am

    SINGAPORE/HONG KONG (Reuters) - Standard Chartered (STAN.L ) has agreed to sell its Hong Kong-based consumer finance business to a consortium that includes Pepper Australia Pty Ltd and a Chinese group, in a deal estimated between $600 million to $700 million, two people with knowledge...

  • Singapore November private home sales down 68 percent year-on-year

    Singapore November private home sales down 68 percent year-on-year

    reuters.com 15 Dec '14, 5am

    SINGAPORE (Reuters) - Sales of private homes by developers in Singapore fell 68 percent in November from a year earlier, government data showed on Monday. Developers sold 412 units last month, compared with 1,271 units in November 2013, according to data compiled by the Urban Redevelo...

  • Singapore Nov private home sales down 68 pct y/y

    reuters.com 15 Dec '14, 5am

    SINGAPORE Dec 15 (Reuters) - Sales of private homes by developers in Singapore fell 68 percent in November from a year earlier, government data showed on Monday. Developers sold 412 units last month, compared with 1,271 units in November 2013, according to data compiled by the Urban R...

  • Singapore's GIC buys Rio de Janeiro office tower

    reuters.com 12 Dec '14, 6am

    SINGAPORE Dec 12 (Reuters) - Singaporean sovereign wealth fund GIC Pte Ltd has agreed to buy an office building in Brazil's Rio de Janeiro for an undisclosed amount, in its first wholly owned investment in Latin America. The building, Eco Sapucai, is expected to be completed in the fi...

  • Bitcoin Trust wins 48,000 bitcoins auctioned by U.S. Marshals

    Bitcoin Trust wins 48,000 bitcoins auctioned by U.S. Marshals

    reuters.com 09 Dec '14, 5pm

    NEW YORK (Reuters) - Bitcoin Investment Trust, an investment fund focused on the digital currency for high net-worth individuals, has won the bidding for 48,000 bitcoins auctioned last Thursday, Brendan O'Connor, managing director of the SecondMarket exchange, said on Tuesday. The U.S...

  • Operator of bitcoin stock exchange penalized by U.S. SEC

    Operator of bitcoin stock exchange penalized by U.S. SEC

    reuters.com 09 Dec '14, 3pm

    WASHINGTON (Reuters) - (Corrects spelling of name from Unger to Ungar in fourth paragraph) The operator of a stock exchange that allowed clients to use bitcoins to trade in certain securities was ordered by U.S. regulators to pay $68,000 to resolve claims that he did not register the ...

  • SINGAPORE PRESS-Lower property tax next year for owners of bigger HDB flats - Straits Times

    reuters.com 09 Dec '14, 12am

    Owners residing in Housing Board flats will enjoy a reduction in their property tax in 2015 compared to this year, the Straits Times reported, citing the Inland Revenue Authority of Singapore on Monday. This comes as the annual values of three-, four-, five-room, and executive flats w...

  • Operator of Bitcoin stock exchange penalized by U.S. SEC

    reuters.com 08 Dec '14, 7pm

    WASHINGTON (Reuters) - U.S. securities regulators on Monday ordered the operator of a stock exchange, which allowed clients to use Bitcoin to trade in certain securities, to pay $68,000 to resolve claims that he did not register the exchanges. Ethan Burnside and his company BTC Tradin...

  • Operator of bitcoin stock exchange penalized by U.S. SEC

    reuters.com 08 Dec '14, 7pm

    WASHINGTON (Reuters) - The operator of a stock exchange that allowed clients to use bitcoins to trade in certain securities was ordered by U.S. regulators to pay $68,000 to resolve claims that he did not register the exchanges. During 2012 and 2013, Ethan Burnside and his company, BTC...

  • UPDATE 1-Venture capitalist Tim Draper wins part of U.S. bitcoin auction: NEW YORK, Dec 5 (Reuters) - Venture

    UPDATE 1-Venture capitalist Tim Draper wins part of U.S. bitcoin auction

    reuters.com 06 Dec '14, 2am

    (Updates with information, comments from Draper) NEW YORK Dec 5 (Reuters) - Venture capitalist Tim Draper won part of the U.S. Marshals Service' auction of 50,000 bitcoins, he said in an email Friday. Draper said he successfully bid on one lot, totalling 2,000 bitcoins, on behalf of D...

  • Venture capitalist Tim Draper wins part of U.S. bitcoin auction

    Venture capitalist Tim Draper wins part of U.S. bitcoin auction

    reuters.com 06 Dec '14, 2am

    NEW YORK (Reuters) - Venture capitalist Tim Draper won part of the U.S. Marshals Service' auction of 50,000 bitcoins, he said in an email Friday. Draper said he successfully bid on one lot, totaling 2,000 bitcoins, on behalf of Draper Associates. The move helps fulfill his plan to inv...

  • U.S. auction of Silk Road bitcoins draws 27 bids

    reuters.com 04 Dec '14, 2pm

    NEW YORK (Reuters) - The U.S. Marshals Service on Thursday received more than two dozen bids for 50,000 bitcoins seized from the alleged owner of Silk Road, an Internet black-market bazaar on which authorities say drugs and other illegal goods could be bought. Lynzey Donahue, a Marsha...

  • U.S. begins largest auction of bitcoins seized in Silk Road bust

    reuters.com 04 Dec '14, 1pm

    NEW YORK (Reuters) - The U.S. Marshals Service on Thursday began auctioning off 50,000 bitcoins seized during the prosecution of the alleged owner of Silk Road, an Internet black-market bazaar where authorities say drugs and other illegal goods could be bought. The six-hour online auc...

  • Australia probes bitcoin crime links as currency craves legitimacy

    reuters.com 02 Dec '14, 11pm

    SYDNEY (Reuters) - A top Australian law enforcement agency is investigating bitcoin's role in organized crime, a senior official said, just as politicians and financial regulators embrace the digital currency as a legitimate part of modern business. The investigation into bitcoin's cr...

  • Australia probes bitcoin crime links as currency craves legitimacy

    Australia probes bitcoin crime links as currency craves legitimacy

    reuters.com 02 Dec '14, 7am

    SYDNEY (Reuters) - A top Australian law enforcement agency is investigating bitcoin's role in organized crime, a senior official said, just as politicians and financial regulators embrace the digital currency as a legitimate part of modern business. The investigation into bitcoin's cr...

  • Singapore's food-maker wins chocolate bar dispute with Nestle - Business Times

    reuters.com 29 Nov '14, 12pm

    SINGAPORE Nov 29 (Reuters) - Singapore's High Court has ruled in favour of a local food- maker that Nestle SA said infringed its intellectual property rights over a chocolate wafer product, a Singapore newspaper reported on Saturday, citing the judgment. The Business Times said Swiss ...

  • SINGAPORE PRESS-Redas urges govt to intervene if property market turns volatile - Business Times

    reuters.com 27 Nov '14, 1am

    The president of the Real Estate Developers' Association of Singapore (Redas), Chia Boon Kuah, on Wednesday urged the government to "stand ready to take supportive measures to prevent a tipping point" if the property market turns volatile and worsens, the Business Times reported. Spea...

  • Singapore's GIC to invest in Indonesia property with Rajawali

    reuters.com 25 Nov '14, 4am

    SINGAPORE Nov 25 (Reuters) - Singapore's sovereign wealth fund GIC and Indonesia's Rajawali Group have agreed to jointly invest up to $500 million in equity in property projects in Indonesia, the two companies said in a statement on Tuesday. The joint venture will look at sectors incl...

  • Singapore's GIC to invest in Indonesia property with Rajawali

    reuters.com 25 Nov '14, 4am

    SINGAPORE Nov 25 (Reuters) - Singapore's sovereign wealth fund GIC and Indonesia's Rajawali Group have agreed to jointly invest up to $500 million in equity in property projects in Indonesia, the two companies said in a statement on Tuesday. The joint venture will look at sectors incl...

  • Singapore to regulate taxi-booking apps Uber, GrabTaxi

    Singapore to regulate taxi-booking apps Uber, GrabTaxi

    reuters.com 21 Nov '14, 6am

    SINGAPORE (Reuters) - Singapore said on Friday it plans to regulate fast-growing third-party taxi booking services like Uber and GrabTaxi for the first time, capping fees and requiring them to dispatch only licensed cabs and drivers. Under new rules to take effect in second-quarter 20...

  • SINGAPORE PRESS-More homes go under the hammer in weak market-Straits Times

    reuters.com 21 Nov '14, 2am

    Singapore's weak property market has sparked a big jump in the number of auctions by banks trying to recover mortgages where borrowers have defaulted, the Straits Times reported. Figures from Colliers International show that 131 properties of all types were put up for auction sale by ...

  • SINGAPORE PRESS-More homes go under the hammer in weak market-Straits Times

    reuters.com 21 Nov '14, 1am

    Singapore's weak property market has sparked a big jump in the number of auctions by banks trying to recover mortgages where borrowers have defaulted, the Straits Times reported. Figures from Colliers International show that 131 properties of all types were put up for auction sale by ...

  • Banks chase trading cheats with 'fuzzy' surveillance: SINGAPORE, Nov 19 (Reuters) - Stung by billion-dollar fi...

    Banks chase trading cheats with 'fuzzy' surveillance

    reuters.com 18 Nov '14, 9pm

    SINGAPORE Nov 19 (Reuters) - Stung by billion-dollar fines for malpractice on their trading floors, the world's big banks are using 'fuzzy logic' tools such as relationship mapping and behavioural analytics to read the minds of would-be cheats among their traders. On Wednesday six glo...

  • Singapore Oct private home sales down 31 pct y/y, up on month

    reuters.com 17 Nov '14, 4am

    SINGAPORE Nov 17 (Reuters) - Sales of private homes by developers in Singapore fell 30.7 percent in October from a year earlier, government data showed on Monday. Developers sold 765 units last month, compared with 1,104 units in October 2013, according to data compiled by the Urban R...

  • Making cars safer: have the driver do less

    reuters.com 11 Nov '14, 9pm

    SINGAPORE (Reuters) - As millions of cars are under recall for potentially lethal air bags, designers are trying to reduce the need for the device - using sensors, radar, cameras and lasers to prevent collisions in the first place. With driver error blamed for over 90 percent of road ...