The following list comprises the most-read Bloomberg News reports from the past week.
1. Brevan Howard Traders Said to Depart as Fund Posts June Loss
Aug. 19 (Bloomberg) -- Two Brevan Howard Asset Management LLP credit traders left in recent weeks, as the firm scales back after its biggest hedge fund had the worst monthly loss since 2008 in June, two people with knowledge of the matter said.
2. FOMC Minutes Highlight Bernanke’s Taper Plan Has Broad Support
Aug. 22 (Bloomberg) -- Federal Reserve policy makers considering when to reduce bond buying were “broadly comfortable” with Chairman Ben S. Bernanke’s plan to taper this year if the economy strengthens, with a few saying a reduction may be needed soon, minutes of their last meeting show.
3. Repo Market Decline Raises Alarm as Regulation Strains Debt
Aug. 19 (Bloomberg) -- Regulations aimed at reducing the risk of another financial crisis are starting to upend a key part of the bond market that expedites trading in everything from Treasuries to junk bonds.
4. Goldman’s Options Error Shows Peril Persists After Knight
Aug. 21 (Bloomberg) -- For all the efforts to shore up electronic markets in the aftermath of one of America’s biggest trading catastrophes, yesterday’s options malfunction by Goldman Sachs Group Inc. shows the dangers haven’t gone away.
5. Goldman Managing Director Lee Charged With East Hampton Rape
Aug. 23 (Bloomberg) -- A Goldman Sachs Group Inc. managing director was arrested and charged with first-degree rape after he was accused of sexually assaulting a 20-year-old woman at a home on Long Island, New York.
6. U.S. Stocks Halt Global Rout as Treasuries Gain; Dollar Weakens
Aug. 20 (Bloomberg) -- U.S. stocks rose, snapping a four-day slump and halting a global slide, as retailers gained after reporting better-than-estimated earnings. Ten-year Treasury yields retreated from the highest levels since 2011 and the dollar weakened.
7. Bank of America Says 21-Year-Old London Summer Intern Dies
Aug. 19 (Bloomberg) -- Bank of America Corp. said a 21-year-old intern died one week before completing a summer program.
8. Nasdaq Halts Trading in Stocks, Options Amid Computer Error
Aug. 22 (Bloomberg) -- Computer breakdowns shook American equity markets again today as malfunctioning software that feeds data between exchanges prompted Nasdaq Stock Market to halt trading in thousands of stocks and options.
9. Capital Flows Back to U.S. as Markets Slump Across Asia: Economy
Aug. 20 (Bloomberg) -- Asia’s role as the world’s growth engine is waning as economies across the region weaken and investors pull out billions of dollars.
10. Abandoned Dogs Roam Detroit’s Streets in Packs as Humans Dwindle
Aug. 21 (Bloomberg) -- As many as 50,000 stray dogs roam the streets and vacant homes of bankrupt Detroit, replacing residents, menacing humans who remain and overwhelming the city’s ability to find them homes or peaceful deaths.
1. Love Your Job? Thank the Country Where You Live: Edmund Phelps
Aug. 19 (Bloomberg) -- It is widely assumed that people in economically “advanced” countries do not differ significantly in how satisfied they are with their jobs. Because they are about equally productive, the reasoning is, they must produce things the same way, and so their work experience must be the same, too.
Aug. 22 (Bloomberg) -- In 1903, President Theodore Roosevelt invited naturalist John Muir, founder of the Sierra Club, to be his guide for his famous camping trip through Yosemite National Park. Muir was about to decline when a friend warned him that one must always accept the president’s invitation. Muir was offended by this notion, because it seemed to treat the president like a king. In the end, Muir decided to make the journey after all: “I suppose I shouldn’t refuse just because he happens to be president,” he said.
3. Has Eric Holder Found Wall Street’s Nightmare?: Jonathan Weil
Aug. 23 (Bloomberg) -- Why didn’t the U.S. Justice Department get someone like Leslie Caldwell years ago when it needed her?
4. Raising Kids? Then Your Taxes Are Far Too High: Ramesh Ponnuru
Aug. 19 (Bloomberg) -- Would-be tax reformers on Capitol Hill are taking a “blank slate” approach to the issue. Dave Camp and Max Baucus, the House Republican and Senate Democrat in charge of the tax-law committees, say that every tax break is on death row unless a strong case can be made for it.
5. A Cancer by Any Other Name Is More Accurate: Virginia Postrel
Aug. 19 (Bloomberg) -- You’re feeling fine when you go for your annual physical. But your mammogram looks a little funny, or your PSA test is a little high, or you get a CT lung scan and a nodule shows up. You get a biopsy, and the doctor delivers the bad news: You have cancer. Because you don’t want to die, you agree to be sliced up and irradiated. Then, fortunately, you’re pronounced a “cancer survivor.” You’re glad they caught it early.
1. Greenwich Stilt Houses Portend Impact of New Flood Maps
Aug. 19 (Bloomberg) -- Some homeowners in Greenwich, Connecticut, are raising their houses on stilts after the U.S. government issued new flood insurance maps in the wake of Hurricane Sandy.
2. Abandoned Dogs Roam Detroit’s Streets as Humans Dwindle
Aug. 21 (Bloomberg) -- Thousands of stray dogs roam the streets and vacant homes of bankrupt Detroit, replacing residents, menacing people who remain and overwhelming the city’s ability to find them homes or peaceful deaths.
3. McLaren MP4-12C Spider Pushes Speed, Slings Corners
Aug. 22 (Bloomberg) -- The McLaren MP4-12C Spider is seen in a promotional video from McLaren Automotive Ltd.
4. Detroit Dominated by Pitbulls as Dogs Roam Free
Aug. 21 (Bloomberg) -- Bloomberg News’ Hans Nichols reports that Detroit’s streets are overrun with up to 50,000 stray dogs as the city faces declining public works funds due to bankruptcy.
5. Rodriguez Hits Homer After Being Hit as Yankees Beat Red Sox
Aug. 19 (Bloomberg) -- Alex Rodriguez was hit by a pitch in his first at-bat and later belted a home run as the New York Yankees beat the Red Sox 9-6 in the finale of a three-game series at Fenway Park in Boston last night.
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