The following list comprises the most-read Bloomberg News reports from the past week.
1. Microsoft Will Buy Nokia’s Handset Business for $7.2 Billion
Sept. 3 (Bloomberg) -- Microsoft Corp. is spending 5.44 billion euros ($7.2 billion) to buy Nokia Oyj (NOK1V)’s handset unit so it can gain ground on Apple Inc. and Google Inc. in a smartphone market it let get away -- gaining a possible new chief executive officer in the process.
2. Oil Advances on Syria as Stocks Rise, Treasuries Drop on Economy
Sept. 3 (Bloomberg) -- Crude oil and gold advanced amid concern America is moving closer to striking Syria, while U.S. stocks rose and Treasuries retreated for a second day as a report showed faster-than-forecast growth in manufacturing.
3. David Brenneman, Morgan Stanley Equity Risk Manager, Dies
Sept. 5 (Bloomberg) -- David Brenneman, a Harvard-trained lawyer who crossed into finance and was an executive director in equity risk management at Morgan Stanley, has died. He was 37.
4. Jobs Gain Less Than Forecast as U.S. Workers Drop Out: Economy
Sept. 6 (Bloomberg) -- Payrolls in the U.S. climbed less than projected in August and gains for the prior two months were revised down, pointing to an expansion that’s struggling to gain momentum.
5. Erdoes Managing Money Since 6 Proves JPMorgan Trillions No Fluke
Sept. 5 (Bloomberg) -- JPMorgan Chase & Co.’s Mary Callahan Erdoes got her first assignment managing money when she was 6 years old. The eldest of four children, Erdoes showed an early aptitude for math that was fostered at her grandmother Kay’s suburban Chicago breakfast table, where she helped balance her grandparents’ checkbook on an adding machine.
6. How 37-Year-Old Teacher Imperils Pimco’s Bond Bet: Mexico Credit
Sept. 3 (Bloomberg) -- For Pedro Hernandez, a striking elementary-school teacher from the southern state of Oaxaca, his union’s protests disrupting Mexico’s capital aren’t just about education. They’re about stopping President Enrique Pena Nieto.
7. Pimco Total Return Loses 14% of Assets Amid Four-Month Rout
Sept. 4 (Bloomberg) -- The world’s biggest mutual fund keeps getting smaller.
8. U.S. Stocks Gain While Middle-East Shares Slump, Metals Decline
Sept. 4 (Bloomberg) -- U.S. stocks rose for a second day, led by chipmakers and automobile companies, and Treasuries fell as the Federal Reserve said the economy maintained a “modest to moderate” pace of growth. Shares in the Middle East sank as the U.S. moved closer to a military strike against Syria.
9. Obama Gets Boehner’s Support for Military Strike on Syria
Sept. 3 (Bloomberg) -- President Barack Obama urged Congress to take a “prompt” vote authorizing military action against Syria and won support from the two top House Republicans even as two polls found opposition from the American public.
10. Treasuries, Gold Rise on Fed Bets as Oil Gains on Syria Concerns
Sept. 6 (Bloomberg) -- Treasury yields slid, the dollar sank and gold rose as slower-than-forecast jobs growth eased concern the Federal Reserve will cut stimulus. Oil jumped to the highest since May 2011 and U.S. stocks erased gains amid tension between American and Russia over Syria’s civil war.
1. Why Not Make Everyone Rich With $50 Minimum Wage?: Caroline Baum
Sept. 5 (Bloomberg) -- Last week, fast-food workers staged a one-day strike in 60 U.S. cities to demand a minimum wage of $15 an hour, more than double the current federal minimum of $7.25. The nationwide effort, “Fight for 15,” was organized by the Service Employees International Union.
2. Why Do We Even Care About Chemical Weapons in Syria?: Ezra Klein
Sept. 5 (Bloomberg) -- The United Nations estimates that more than 100,000 Syrians have died since the country’s civil war began in March 2011. More die every day. But the U.S. is not considering military action to save them.
3. Samsung’s Galaxy Mega Is a Lumbering Giant: Rich Jaroslovsky
Sept. 5 (Bloomberg) -- The most common reaction to Samsung’s new Galaxy Mega smartphone may be: You’ve got to be kidding.
4. Wall Street Pay Is a Model of Clarity? No Kidding: Jonathan Weil
Sept. 6 (Bloomberg) -- If you want to know how much money a U.S. company’s top five executives make, there is lots of information to be found. As for total employee pay? Not so much.
5. Popular Misconceptions About Quantitative Easing: Joseph Gagnon
Sept. 3 (Bloomberg) -- To combat the recession that began in 2007, the Federal Reserve and some other central banks have been buying large amounts of long-term bonds. The novelty of this quantitative easing makes the policy especially prone to popular misconceptions.
1. Draghi Says Confidence Indicators Confirm Better Growth
Sept. 5 (Bloomberg) -- European Central Bank President Mario Draghi speaks at a news conference in Frankfurt about the decision to keep the benchmark interest rate unchanged at a record low of 0.5 percent for the fourth month. (This is Draghi’s statement only. Source: European Central Bank)
2. Erdoes a ‘Force’ in Asset Management: Bloomberg Markets
Sept. 5 (Bloomberg) -- Bloomberg’s Dawn Kopecki talks about her profile of JPMorgan Chase & Co.’s asset management’s chief executive Mary Erdoes as part of Bloomberg Markets “50 Most Influential” list featured in the magazine’s October issue.
3. Obama Says He Was Elected to ‘End Wars, Not Start Them’
Sept. 6 (Bloomberg) -- U.S. President Barack Obama speaks about the debate over whether military action against Syria is warranted.
He spoke at a news conference at the close of the meeting of Group of 20 leaders in St. Petersburg, Russia.
4. World’s Biggest Ship: The $185 Million Maersk Triple-E
Sept. 5 (Bloomberg) -- On a dry-dock in South Korea Maersk is building the world’s biggest ship. A container vessel, it will ply the route between Northern Europe and China. It is called the Triple-E and the Danish shipbuilder has ordered 20 of them, at a cost of $185 million each.
5. Davis ‘Seriously’ Considering Run for Texas Governor
Sept. 4 (Bloomberg) -- Texas state Senator Wendy Davis, a Democrat, speaks about the possibility that she may run for governor of the state.
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