| | |
| Man called Bitcoin's father denies ties, leads LA car chase Thursday, Mar 06, 2014 08:28 PM PST  By Aron Ranen and Brandon Lowrey TEMPLE CITY, California (Reuters) - A Japanese American man thought to be the reclusive multi-millionaire father of Bitcoin emerged from a modest Southern California home and denied involvement with the digital currency before leading reporters on a freeway car chase to the local headquarters of the Associated Press. Satoshi Nakamoto, a name known to legions of bitcoin traders, practitioners and boosters around the world, appeared to lose his anonymity on Thursday after Newsweek published a story that said he lived in Temple City, California, just east of Los Angeles. Newsweek included a photograph and described a short interview, in which Nakamoto said he was no longer associated with Bitcoin and that it had been turned over to other people. Full Story | Top |
| Exclusive: Pimco's Gross declares El-Erian is 'trying to undermine me' Thursday, Mar 06, 2014 08:23 PM PST  Bill Gross, the co-founder and co-chief investment officer of Pacific Investment Management Co, has accused departing CEO Mohamed El-Erian of seeking to "undermine" him by talking to The Wall Street Journal about deepening tensions between the two executives who have been jointly running the world's largest bond house. Gross told Reuters that he had "evidence" that El-Erian "wrote" a February 24 article in the Journal, which described the worsening relationship between the two men as Pimco's performance deteriorated last year, including a showdown in which they squared off against each other in front of more than a dozen colleagues at the firm's Newport Beach, California headquarters. Gross, who oversaw more than $1.91 trillion in assets as of the end of last year and who is known on Wall Street as the 'Bond King', said in a phone call to Reuters last Friday: "I'm so sick of Mohamed trying to undermine me." When asked if Reuters could see the evidence about El-Erian and the allegation he was involved in the article, Gross said: "You're on his side. Full Story | Top |
| Asian shares up, mood cautious before U.S. jobs data Thursday, Mar 06, 2014 07:29 PM PST  By Lisa Twaronite and Shinichi Saoshiro TOKYO (Reuters) - Asian stocks rose on Friday, buoyed by Wall Street's gains the previous day, but investors remained cautious ahead of the U.S. nonfarm payrolls report later in the session. The euro remained near overnight highs following the European Central Bank's decision not to ease policy, while the safe-haven yen continued to sag after suffering sharp losses as risk appetite returned. U.S. nonfarm payrolls are forecast to have increased by around 149,000 in February, according to a Reuters survey of economists, up from the weather-depressed gains of 113,000 in January and 75,000 in December. Market watchers said expectations may have been lowered by the soft ADP private-sector jobs report and ISM services sector survey released earlier this week. Full Story | Top |
| Detroit reaches $120 million loan deal with Barclays Thursday, Mar 06, 2014 07:25 PM PST  (Reuters) - Detroit said in a court filing on Thursday it had reached an agreement with Barclays PLC for a $120 million loan that would allow it to invest in services and speed its path out of bankruptcy. The deal comes after the judge overseeing Detroit's historic bankruptcy case rejected a $350 million loan that would have raised $230 million for the city to end interest rate swaps. Those swaps were used to hedge interest rate risk on some Detroit pension debt. The city said earlier this week it had reached a new agreement with Merrill Lynch Capital Services and UBS AG to end the swaps for $85 million. Full Story | Top |
| Walt Disney, Shanghai Media Group to develop Disney-branded movies Thursday, Mar 06, 2014 07:09 PM PST  Walt Disney Studios has signed an agreement with Shanghai Media Group Pictures to develop Disney-branded movies, the latest move by a U.S. studio to grow its presence in China's entertainment business. U.S.-based writers will team up with local writers and filmmakers to develop stories and scripts that incorporate Chinese themes in Disney movies, the studio said in a statement. Tony To, the studio's executive vice president of production, will oversee the co-development program, which could allow for easier releases of English-language films in China. Western films in addition must meet the committee's "amendment opinions" to be one of the 34 Hollywood films permitted in China each year. Full Story | Top |
| Container truck drivers reach tentative deal at Vancouver port Thursday, Mar 06, 2014 07:07 PM PST By Julie Gordon VANCOUVER (Reuters) - Container truck drivers at Canada's largest port reached a new deal on Thursday, narrowly avoiding an expanded job action that would have seen some 400 unionized drivers join about 1,200 non-unionized drivers who walked off the job last week. The tentative agreement, which addresses demands made by both unionized and non-unionized drivers at Port Metro Vancouver, came after a morning of intense discussions with a government-appointed mediator and could help get hundreds of millions of dollars worth of products back on the roads. "We have now secured a deal that will hopefully get things back to normal at the port by early next week," said Gavin McGarrigle, British Columbia area director for Unifor, which represents the unionized drivers. Their non-unionized colleagues walked off the job on February 26 in protest over long wait times at Vancouver's port facilities, which they say cut into their profits. Full Story | Top |
| Bitcoin true believers unfazed by losses in Mt. Gox collapse Thursday, Mar 06, 2014 07:07 PM PST By Kevin Krolicki and Nathan Layne TOKYO (Reuters) - Like other bitcoin evangelists, Ken Shishido is ready to write off the money he lost in the bankruptcy of Tokyo-based virtual currency exchange Mt. Gox as the price of revolutionizing global finance. "In the early days of the automobile, there were traffic accidents because you didn't have traffic lights or pedestrian crossings," he said hours after Mt. Gox said on Friday it had lost up to half a billion dollars of investor funds, including some of his own. "But we didn't ban automobiles." Shishido, who lives in Tokyo, was one of about 1,000 investors in Japan who became creditors in Mt. Gox's bankruptcy when the company capped a tumultuous period of weeks by filing for bankruptcy on Friday. He lost about a tenth of his investment in bitcoin in Mt. Gox, he said, and expected none of that money to come back. Full Story | Top |
| SEC scores partial win in insider trading case over 2009 Sanofi deal Thursday, Mar 06, 2014 06:46 PM PST Federal securities regulators have won a partial victory against two brothers accused of trading on inside information in 2009 about French pharmaceutical company Sanofi's plan to buy a Tennessee-based company. A jury in the U.S. district court in Cleveland, Ohio, found that Andrew Jacobs and Leslie Jacobs committed insider trading in the context of a tender offer, the U.S. Securities and Exchange Commission announced in a statement. At the same time, the jury also found that the brothers were not liable under a broader insider trading statute not specific to tender offers, Ned Searby, a lawyer for Leslie Jacobs, said. The decision is the latest in a string of mixed jury verdicts that highlight how difficult it can be for the SEC to obtain clear-cut victories in complex securities cases. Full Story | Top |
| China says no casinos for resort island Hainan Thursday, Mar 06, 2014 06:42 PM PST China's balmy holiday island of Hainan, long touted as a place where the country could liberalise gambling, will not permit casinos, senior officials announced this week. Luo Baoming, Hainan's Communist Party chief, and Wang Yong, the mayor of resort city Sanya, told a briefing at China's annual parliamentary meeting on Thursday that casinos will never be allowed to operate there. "We cannot at all allow Hainan to operate casinos," Luo said according to the official Xinhua news agency. Casino gambling is illegal in China outside of the former Portuguese colony of Macau, an hour's flight from Hainan by plane. Full Story | Top |
| Exclusive: U.S. Navy aims to put 22 Boeing fighters on 'unfunded' list - sources Thursday, Mar 06, 2014 05:48 PM PST  By Andrea Shalal WASHINGTON (Reuters) - The U.S. Navy plans to add 22 Boeing electronic attack jets to a list of "unfunded" priorities requested by Congress, but the document must still be vetted by senior Pentagon officials, who have underscored their commitment to Lockheed Martin Corp's next-generation F-35 fighter jet, sources familiar with the matter told Reuters. Defense Secretary Chuck Hagel told the military services in a memo on Thursday they could respond to the House Armed Services Committee's request, but said the lists should be coordinated with his office and that of General Martin Dempsey, chairman of the Joint Chiefs of Staff, according to a defense official. The defense official and multiple other sources spoke on Wednesday and Thursday on condition of anonymity because the unfunded priorities lists have not yet been formally submitted to Congress. Full Story | Top |
| Japan says not fully apprised of bitcoin situation Thursday, Mar 06, 2014 05:24 PM PST  Japan's government said it was not yet fully apprised of the situation around bitcoins, showing it was still struggling to determine its approach to the virtual currency a week after the collapse of Tokyo-based bitcoin exchange Mt. Gox. Japan's Chief Cabinet Secretary Yoshihide Suga told reporters on Friday that the government would act if needed on bitcoin issues. Full Story | Top |
| Fed should be patient, keep trimming U.S. stimulus: Lockhart Thursday, Mar 06, 2014 05:16 PM PST  By Jonathan Spicer WASHINGTON (Reuters) - It could be another two months before the U.S. Federal Reserve can determine whether recent weak economic data is truly weather-related or something more permanent, so policymakers should keep trimming their bond-buying stimulus, a top Fed official said on Thursday. In an interview, Atlanta Fed President Dennis Lockhart said flatly that the central bank should keep reducing its policy accommodation even if the February jobs report on Friday falls short of expectations, making for three straight months of sub-par hiring in the world's largest economy. "In my mind, unless we really fall off track in the economy pretty dramatically, I think the tapering program should proceed," Lockhart told Reuters, adding that he has "modest" expectations for the government's nonfarm payrolls report. Lockhart attributed the weak data to the severe winter weather that has gripped much of the United States and issued a word of caution to anyone expecting the Fed to abruptly back off a plan to wind down its bond purchases by later this year. Full Story | Top |
| Canadian regulators approve Enbridge's Line 9 plan Thursday, Mar 06, 2014 05:03 PM PST  By Julie Gordon VANCOUVER (Reuters) - Canadian regulators on Thursday approved Enbridge Inc's Line 9 oil pipeline reversal and expansion, conditional on the country's largest pipeline company undertaking additional work on consultation and safety. Enbridge plans to reverse its Line 9B pipeline, which extends from southern Ontario to Quebec, and boost capacity of the entire Line 9 line by 25 percent to 300,000 barrels per day (bpd), in order to ship western oil to refineries in Eastern Canada. The approval by the National Energy Board (NEB) was widely expected, as the plan uses existing infrastructure, requires no new pipeline and much of the work will take place on Enbridge property or right-of-ways. "The board's decision enables Enbridge to react to market forces and provide benefits to Canadians, while at the same time implementing the project in a safe and environmentally sensitive manner," the NEB said in its report. Full Story | Top |
| Crimea votes to join Russia, Obama orders sanctions Thursday, Mar 06, 2014 05:03 PM PST  By Alissa de Carbonnel and Luke Baker SIMFEROPOL, Ukraine/BRUSSELS (Reuters) - Crimea's parliament voted on Thursday to join Russia, and its Moscow-backed government set a referendum in 10 days, in a dramatic escalation of the crisis over the Ukrainian region that drew a sharp riposte from U.S. President Barack Obama. Obama ordered sanctions on those responsible for Moscow's military intervention in Ukraine, including bans on travel to the United States and freezing of their U.S. assets. He echoed European Union leaders and the pro-Western government in Ukraine in declaring that the proposed referendum would violate international law. Obama also held a one-hour call on Thursday with Russian President Vladimir Putin, their second phone conversation in the past six days, and urged him to accept the terms of a potential diplomatic solution to the crisis. Full Story | Top |
| Mexico regulator decides on dominant players in telecoms, TV Thursday, Mar 06, 2014 05:00 PM PST  Mexico's telecoms regulator said on Thursday it has decided who is dominant in telecommunications and broadcasting, a key ruling widely expected to impose tougher anti-trust measures on the local mobile and fixed line units of tycoon Carlos Slim's America Movil as well as broadcaster Televisa. The Federal Telecommunications Institute (IFT) said it had approved the imposition of measures to boost competition that include the unbundling of the local loop for the dominant telecoms player, which it did not identify. The dominance ruling is part of a wider telecommunications and broadcast reform approved by the government. Full Story | Top |
|
No comments:
Post a Comment