Winklevoss twins can see Bitcoin becoming a country’s currency September 17, 2013 CAMERON and Tyler Winklevoss, currently making headlines with plans to launch a Bitcoin fund, claimed yesterday that they could see the digital currency becoming a country’s official money. “The next step for Bitcoin is potentially becoming the currency of a country,” Tyler Winklevoss said. The twin brothers, famous for their history with Facebook, were speaking [...]
New York Report: Expectation of modest taper lifts US shares September 17, 2013 US STOCKS advanced yesterday on expectations the Federal Reserve will make only moderate changes to its stimulus that has been highly supportive of stocks and other assets at the conclusion of its two-day meeting tonight. The policy-setting Federal Open Market Committee began meeting yesterday to discuss whether to trim its bond purchases, also known as [...]
Glitches could lead Twitter to shun Nasdaq September 15, 2013 SOCIAL network giant Twitter is likely to favour a listing on the New York Stock Exchange (NYSE) over the Nasdaq on the back of glitches and problems with the exchange that marred Facebook’s initial public offering (IPO). Confidence in the Nasdaq is low after the stock exchange has faced a spate of technical glitches in [...]
New York Report: US stocks lifted as China posts upbeat data September 9, 2013 US STOCKS closed sharply higher yesterday, with the Nasdaq ending at its highest level since September 2000, as upbeat data from China boosted optimism about the health of the global economy. Sentiment was also lifted by merger activity and easing concerns about a potential Western-led strike on Syria. The S&P 500 closed higher for a [...]
Phones 4u sells off UK’s biggest mobile phone insurer for $160m September 5, 2013 HIGH STREET retailer Phones 4u yesterday dialled up a £100m deal to sell the UK’s biggest mobile insurer to a Wall Street-listed insurance giant. The phone shop’s parent company, Phones 4u Finance, will sell Crewe-based Lifestyle Services Group (LSG) to Assurant for $160m (£107m) after being approached by Assurant to buy the business earlier this [...]
New York Report: Syria pause and car sales data lift stocks September 4, 2013 U S stocks rose for a second day yesterday as a possible military action in Syria was seen as limited and strong auto sales lifted investor confidence in the US economy. The US Senate Foreign Relations Committee approved a resolution authorizing a limited U.S. military intervention in Syria, setting the stage for a debate in [...]
Nasdaq blames software bug for its three-hour trading shutdown August 29, 2013 NASDAQ OMX Group’s massive trading halt last week was due to a software bug and other internal technology issues triggered by problems at NYSE Euronext’s Arca exchange that led a key backup system to fail, the exchange operator said yesterday. Nasdaq said it was “deeply disappointed” by the three-hour outage on 22 August and while [...]
What the other papers say this morning – 29 August 2013 August 28, 2013 FINANCIAL TIMES Amazon tax fight in Supreme Court Jeff Bezos’s Amazon is taking a high-stakes legal battle to the US Supreme Court, hiring one of Washington’s most prominent lawyers Ted Olson to fight the taxation of its shoppers in New York state. Amazon wants the court to review a case about the most incendiary political [...]
New York Report: Wall Street has worst trading day since June August 27, 2013 WALL Street stocks suffered their worst day since June yesterday, slumping in a broad decline as geopolitical uncertainty rose over a possible US-led military strike by the West against Syrian President Bashar al-Assad’s forces. The S&P 500 closed under its 100-day moving average for the first time since 24 June, a sign of weak near-term [...]
BATS merger sends Nasdaq into third place August 26, 2013 EXCHANGE operators BATS Global Markets and Direct Edge confirmed their plans to merge yesterday, in the latest threat to the dominance of the New York Stock Exchange and the Nasdaq. BATS, a relative newcomer to the trading business, said its tie-up with Direct Edge will create an operator with a track record in creating “a [...]