The following list comprises the most-read Bloomberg News reports from the past week.
1. JPMorgan Bribery Probe Said to Expand as Spreadsheet Found
Aug. 29 (Bloomberg) -- A probe of JPMorgan Chase & Co.’s hiring practices in China has uncovered red flags across Asia, including an internal spreadsheet that linked appointments to specific deals pursued by the bank, people with knowledge of the matter said.
2. Currency Spikes at 4 P.M. in London Provide Rate-Rigging Clues
Aug. 28 (Bloomberg) -- In the space of 20 minutes on the last Friday in June, the value of the U.S. dollar jumped 0.57 percent against its Canadian counterpart, the biggest move in a month. Within an hour, two-thirds of that gain had melted away.
3. Brothels in Nevada Suffering as Internet Disrupts Oldest Trade
Aug. 28 (Bloomberg) -- In a dim parlor furnished with red velvet couches and a stripper pole, Brooke Taylor is having a sale on herself.
4. Ex-JPMorgan Trader Released, Saying He Opposes U.S. Extradition
Aug. 28 (Bloomberg) -- Former JPMorgan Chase & Co. trader Javier Martin-Artajo was released from police custody after telling a Madrid court he opposed attempts by U.S. prosecutors to extradite him on charges he hid trading losses that cost the bank $6.2 billion.
5. Ackermann Resigns From Zurich Board After CFO’s Suicide
6. Stocks Fall as Oil Reaches 18-Month High on Syria, Gold Rallies
Aug. 27 (Bloomberg) -- Stocks slid the most since June and oil surged to an 18-month high amid concern the U.S. will take military action against Syria. Treasuries, the yen and gold rose while Turkey’s lira and India’s rupee reached record lows.
7. Ackermann Quit Zurich After Being Named in CFO Suicide Note
Aug. 30 (Bloomberg) -- Josef Ackermann’s abrupt resignation as chairman of Zurich Insurance Group AG came after Chief Financial Officer Pierre Wauthier mentioned him in his suicide note, the company said.
8. Fed Officials Rebuff Coordination Calls as QE Taper Looms
9. N.J. Jail Is Home for Husband as Lifetime of Alimony Fought
Aug. 27 (Bloomberg) -- Ari Schochet has grown so accustomed to being sent to jail for missing alimony payments that he goes into a routine.
10. U.S. Sees Multiday Strikes on Syria as U.K. Submits UN Draft
Aug. 28 (Bloomberg) -- U.S. officials planning potential military strikes on Syria aren’t limited to a one-day operation, an administration official said, as the UN Security Council’s permanent members considered a resolution condemning last week’s suspected chemical attack.
1. Five Reasons Housing Isn’t Ready to Drop Dead: Caroline Baum
Aug. 29 (Bloomberg) -- Hissss! That’s the sound of the air coming out of the housing market. At least that’s what some folks thought they heard when the U.S. Census Bureau reported a 13.4 percent dive in new home sales in July, the biggest decline in more than three years and one that coincided with a sharp increase in mortgage rates.
2. Asia’s Real Problem Is Boosterism, Not Fed Policy: William Pesek
Aug. 27 (Bloomberg) -- It’s time to set our clocks back in Asia. Not to 1997, as many are recommending, but to 1994.
3. Will Obama Make the Fed Even Worse With Summers?: Ramesh Ponnuru
Aug. 27 (Bloomberg) -- President Barack Obama is making the most important economic-policy decision of his second term: picking a new chairman for the Federal Reserve. We shouldn’t be optimistic, because nothing the president has said or done suggests that he is at all displeased with a Fed performance that has been just short of disastrous.
4. Summers Pick Fits Obama’s Preference for Beaten Path: Ezra Klein
Aug. 29 (Bloomberg) -- At this point, Larry Summers isn’t just the favorite for Federal Reserve chairman. He’s the overwhelming favorite. Unless something truly unexpected shows up in the vetting process (a paid toast at Bashar al-Assad’s birthday party, for example) or the administration comes to believe Senate Democrats will revolt against a Summers nomination, he’s going to get the job.
5. JPMorgan Investigations Are America’s New Pastime: Jonathan Weil
Aug. 30 (Bloomberg) -- Hardly a week goes by without a new report about a government investigation of JPMorgan Chase & Co. and how much money the bank might have to pay because of some alleged violation of the law.
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