The following list comprises the most-read Bloomberg News reports from the past week.
1. Bond Salesman Who Wasn’t Reveals RBS Human Error at Many Levels
Aug. 5 (Bloomberg) -- KK Ho appeared out of nowhere last year on the Royal Bank of Scotland Group Plc (RBS)’s London trading floor.
2. Manhattan Apartments $3 Million or Less Hard to Get: Mortgages
Aug. 7 (Bloomberg) -- With $1 million to spend and no need for a mortgage, Laiyan Wong expected to be able to easily buy a two-bedroom apartment on Manhattan’s Upper West Side. What she didn’t anticipate was how much competition she’d have.
3. Family Offices Chasing 12 Million Rich on $46 Trillion of Asset
Aug. 6 (Bloomberg) -- Karen McNeill, Ph.D., used to teach history at the University of California, Berkeley. In June, she took a job as head of family history with Ascent Private Capital Management, a new unit of U.S. Bancorp that manages the affairs of ultra-wealthy families.
4. New England Billionaire Hauls Fortune in Unidentified Trucks
Aug. 5 (Bloomberg) -- There’s a reason why Richard B. Cohen escapes attention.
5. BofA Put Toxic Debt Into Bond as Traders Shunned ‘Fat Kid’
Aug. 7 (Bloomberg) -- Bank of America Corp.’s traders fought off efforts by the firm in 2007 to include risky Alt-A mortgages in a securitization. That wasn’t enough to spare investors from being cheated, according to the U.S.
6. U.S. Stocks Retreat With Treasuries, Gold; Euro Gains
Aug. 6 (Bloomberg) -- U.S. stocks fell for a second day as retailers posted results that disappointed investors while trade data fueled concern the Federal Reserve may begin to reduce its bond purchases this year. Treasuries slid, while the euro gained as reports signaled European economies are recovering.
7. Stocks Retreat With Oil on Fed Concern as Yen, Pound Strengthen
Aug. 7 (Bloomberg) -- Stocks declined amid corporate earnings that disappointed investors and growing concern the Federal Reserve may reduce its bond purchases, while oil capped the biggest four-day slide in nine months. The pound gained after the Bank of England raised its growth forecast.
8. Alex Rodriguez Appeals Suspension by MLB Through 2014 Season
Aug. 5 (Bloomberg) -- Alex Rodriguez of the New York Yankees was banned from baseball without pay through the 2014 season, the longest doping suspension ever imposed by the sport.
9. Carney’s BOE Steer Struggles to Stem Rate-Increase Bets: Economy
Aug. 7 (Bloomberg) -- Bank of England Governor Mark Carney linked the monetary policy outlook to unemployment for the first time as he tried to quell investor bets on higher interest rates.
10. Pimco, Bank of New York Seek to Block Richmond Mortgage Plan
Aug. 8 (Bloomberg) -- Pacific Investment Management Co., BlackRock Inc. and Bank of New York Mellon Corp. are seeking a court order blocking Richmond, California, and Mortgage Resolution Partners LLC from seizing mortgages through eminent domain, saying the initiative would hurt savers and retirees.
1. Warning to Americans: Be Afraid, Very Afraid: Jeffrey Goldberg
Aug. 5 (Bloomberg) -- It seems as if al-Qaeda, or its Arabian Peninsula branch, has succeeded in terrorizing the United States of America again, but this time without – as of this writing – detonating an ounce of C4.
2. If You Think Europe Is Fine, Take a Look at Italy: Simon Johnson
Aug. 7 (Bloomberg) -- It has become fashionable not to worry about Europe and the euro area. This complacency has a serious flaw: Italy.
3. Why Homo Economicus Might Actually Be an Idiot: Mark Buchanan
Aug. 5 (Bloomberg) -- Imagine yourself betting on the term survival of two types of people. One is the classic egoist, focused and ruthless. The other is more selfless, willing to help fellow humans without any evident gain. Who will be more successful?
4. The Worst Nightmare for China Is Turning Japanese: William Pesek
Aug. 9 (Bloomberg) -- Few words strike greater fear in the hearts of economists and politicians than “Japanization.” That specter of chronic malaise, deflation and bad debt has driven central bankers from Ben S. Bernanke in the U.S. to Mario Draghi in Europe to flood markets with liquidity in an effort to avert their own lost decades.
5. Google’s Moto X Phone Hugs Middle of the Road: Rich Jaroslovsky
Aug. 8 (Bloomberg) -- The screen on Motorola’s new Moto X smartphone doesn’t have the highest resolution. Storage capacity is limited and the processor isn’t the most potent. It doesn’t even run the latest version of the Android operating system.
1. Carney Pledges Loose Policy While Jobless Rate Above 7%
Aug. 8 (Bloomberg) -- Bank of England Governor Mark Carney talks about the U.K. economy, inflation and the bank’s pledge to maintain loose monetary policy while the unemployment rate remains above 7 percent.
2. Grocery Billionaire Hauls Fortune in Unmarked Trucks
Aug. 5 (Bloomberg) -- Bloomberg’s Matthew G. Miller discusses the wealth of C&S Wholesale Grocers Inc. Chairman Richard B. Cohen.
3. Jaguar’s F-Type Is Automaker’s Hottest Car in 50 Years
Aug. 8 (Bloomberg) -- The Jaguar F-Type roadster is seen in a promotional video from Jaguar Land Rover Ltd.
4. New Hampshire Billionaire Works in Nondescript Office
Aug. 5 (Bloomberg) -- A nondescript office park in Keene, New Hampshire, 90 miles northwest of Boston, houses the offices of the world’s largest grocery wholesaler, C&S Wholesale Grocers Inc., run by Chairman Richard B. Cohen.
5. Cole Determined to Make Ascent Attractive to New Rich
Aug. 6 (Bloomberg) -- Ascent Private Capital Management, a new unit of U.S. Bancorp, was the second fastest-growing money manager in the world catering to wealthy families in 2012, according to Bloomberg Markets’ annual ranking of family offices.
To contact the reporter on this story: Audrey Barker in New York at email@example.com
To contact the editor responsible for this story: Alan Mirabella at firstname.lastname@example.org