Technology 

As bitcoin trading shifts shape, big money stays away

LONDON (Reuters) – Bitcoin’s value has plunged by three-quarters this year, sending the original and biggest cryptocurrency back to levels not seen before its bubble. And price isn’t the only aspect of trading that has changed. FILE PHOTO: A collection of Bitcoin (virtual currency) tokens are displayed in this picture illustration taken December 8, 2017. REUTERS/Benoit Tessier/File Photo The retail investors behind bitcoin’s dizzying ascent to a record of nearly $20,000 last December have fled, leaving the early adopters and crypto-related firms that traditionally dominated digital coin trading driving exchange…

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Technology 

Blockchain platform goes live for North Sea crude oil trading

LONDON (Reuters) – Oil majors and trading firms can start finalizing crude oil deals on a live blockchain-based platform for the first time, in a move that could revolutionize the market. FILE PHOTO: A BP logo is seen on a petrol station in London November 2, 2010. REUTERS/Suzanne Plunkett Commodities trading firms have piloted similar schemes in recent years as blockchain technology has the potential to drastically cut costs in an environment of razor-thin profit margins. London-based platform Vakt is the first of these to go live, with shareholder Gunvor…

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Top stories 

Spark Energy Supply ceases trading

Image copyright Spark Energy An energy supply company with almost 300,000 customers has ceased trading. Spark Energy Supply is part of a gas and electricity firm which employs more than 300 staff at its Selkirk headquarters. The move comes after the company was handed a £14m bill by the energy regulator Ofgem for non-payment of its renewable power obligation. Another smaller supplier, Extra Energy, collapsed earlier this week for the same reason. Ofgem said the energy supply for Spark’s 290,000 customers would continue as normal. It advised customers to take…

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Top stories 

Derby training firm referred to police after trading ceases

Image copyright Google Image caption Aspire Achieve Advance (3aaa) announced it had ceased trading on Thursday, wishing employers, apprentices and staff “all the best” A training provider has been referred to police after it announced it had ceased trading, with 500 jobs at risk. More than 3,000 Aspire Achieve Advance (3aaa) apprentices also face an unclear future after the firm’s Department for Education contract was axed. The department said it had referred its findings to police, through Action Fraud. 3aaa announced it had ceased trading on Thursday, wishing employers, apprentices…

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Top stories 

Retailer Orla Kiely ceases trading

Image copyright Orla Kiely Image caption Orla Kiely has ceased trading British handbag and homeware retailer Orla Kiely has announced that it is closing its stores and website. Orla Kiely ceased to trade as of 17 September as its parent company, Kiely Rowan, has gone into administration. The retailer’s stores in London’s King’s Road and Seven Dials, and Kildare in Ireland, have closed. However, Orla Kiely Home and Design-branded accessories and homeware will continue to be sold through distribution partners. “Thank you for embracing our brand and designs throughout the…

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Technology 

As its trading debut looms, China’s Meituan locked in battle of super-apps

BEIJING/SHANGHAI (Reuters) – Meituan Dianping, which raised $4.2 billion in its Hong Kong IPO, is one of China’s super-apps, with 340 million users ordering groceries, paying bills, renting bikes and booking hotels – but it is far from alone. FILE PHOTO: A company logo of China’s Meituan Dianping, an online food delivery-to-ticketing services platform, is displayed at a news conference on its IPO in Hong Kong, China September 6, 2018. REUTERS/Bobby Yip/File Photo The delivery-to-ticketing platform, backed by internet giant Tencent Holdings Ltd (0700.HK), is squaring off with Alibaba Group…

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Technology 

SEC halts trading in two cryptocurrency products, citing market confusion

NEW YORK (Reuters) – The U.S. Securities and Exchange Commission said on Sunday it was immediately suspending trading in two investment products that track cryptocurrencies, citing confusion in the markets over whether the products are exchange-traded funds (ETFs). FILE PHOTO – High-end graphic cards are installed in a cryptocurrency mining computer at a computer mall in Hong Kong, China January 29, 2018. REUTERS/Bobby Yip/File Photo The SEC said in a statement that trading in Bitcoin Tracker One CXBTF.PQ CXBTF.PK and Ether Tracker One CETHF.PQ CETHF.PK would be halted in the…

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Technology 

Silicon Valley executive pays SEC insider trading fine for tipping brothers

(Reuters) – The U.S. Securities and Exchange Commission said a former senior executive at Qualys Inc (QLYS.O) will pay a $581,170 insider trading penalty for helping his brothers sell their shares in the Silicon Valley cloud security company after learning it would report disappointing revenue. Amer Deeba, 51, who resigned this month as Qualys’ chief commercial officer, was accused of telling his brothers in April 2015 that the company had missed its first-quarter sales forecast, and arranging for their broker to sell their shares. The SEC said Deeba’s brothers, both…

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Sports 

Browns release LB Kendricks after insider trading charge

The Cleveland Browns released linebacker Mychal Kendricks on Wednesday after he was hit with federal charges for insider trading. Jan 3, 2016; East Rutherford, NJ, USA; New York Giants tight end Will Tye (45) carries the ball to score a touchdown as Philadelphia Eagles linebacker Mychal Kendricks (95) attempts to tackle during the second quarter at MetLife Stadium. Mandatory Credit: Brad Penner-USA TODAY Sports / Reuters Picture Supplied by Action Images U.S. Attorney William M. McSwain, based in Philadelphia, announced the charges earlier Wednesday. The complaint said Kendricks turned $80,000…

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Technology 

Cryptocurrency exchange Bittrex teams with registered trading venue Rialto

NEW YORK (Reuters) – U.S.-based cryptocurrency exchange Bittrex is partnering with registered broker-dealer Rialto Trading to offer a trading venue for blockchain-based digital assets, the companies said on Thursday. Cables running into cryptocurrency miners are seen at the HydroMiner cryptocurrency farming operation near Waidhofen an der Ybbs, Austria April 25, 2018. REUTERS/Leonhard Foeger Rialto runs a U.S.-registered trading platform for fixed income products and, pending approval from regulators, will expand its operations to include virtual tokens that are registered securities, the companies said. Both companies said they were having “detailed…

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