The following list comprises the most-read Bloomberg News reports from the past week.
1. At 77 He Flips Burgers Earning Former Hourly Wage in Week
Sept. 23 (Bloomberg) -- It seems like another life. At the height of his corporate career, Tom Palome was pulling in a salary in the low six-figures and flying first class on business trips to Europe.
2. JPMorgan Said to See $11 Billion Accord as Dimon Joins Talks
Sept. 26 (Bloomberg) -- JPMorgan Chase & Co.’s negotiations with federal and state authorities to resolve a series of investigations tied to mortgage bonds are focusing on a potential $11 billion figure, including $4 billion for consumer relief, a person familiar with the talks said.
3. SAC Said to Seek Settlement of U.S. Insider-Trading Cases
Sept. 24 (Bloomberg) -- Lawyers for hedge fund SAC Capital Advisors LP reached out to prosecutors in New York last week to say that founder Steven Cohen is interested in settling the civil and criminal cases against him and his company, according to people familiar with the matter.
4. Cinnabon 880-Calorie Cult Has Americans Licking Fingers: Retail
Sept. 27 (Bloomberg) -- Cinnabon’s signature product is an 880-calorie cinnamon roll that the Dallas Observer has called a “gut bomb.” It’s a swirly pillow of dough dripping with cinnamon, brown sugar, margarine, and cream-cheese frosting.
5. Death Dinners at Baby Boomers’ Tables Take on Taboo Over Dying
Sept. 24 (Bloomberg) -- At a Manhattan dinner party, former Citigroup Inc. executive Steffen Landauer gathered an eclectic mix of guests at his apartment off Fifth Avenue to sip pinot noir, dine on seared salmon -- and talk about death.
6. Apple Sells Record 9 Million IPhones in Their Debut Weekend
Sept. 23 (Bloomberg) -- Apple Inc. sold a record 9 million iPhones in the weekend debut of two new models, as the company included China in the rollout and consumers snapped up handsets with more colorful options and a fingerprint reader.
7. Soros to Goldman Poised to Win on Crisis Housing Bet: Mortgages
Sept. 24 (Bloomberg) -- Goldman Sachs Group Inc., JPMorgan Chase & Co. and billionaire George Soros are poised for gains from a housing bet placed in the depths of the financial crisis.
8. BlackBerry Agrees to $4.7 Billion Buyout Deal to Go Private
Sept. 23 (Bloomberg) -- BlackBerry Ltd. reached a tentative agreement for a $4.7 billion buyout by a group led by its biggest shareholder, forging a path to go private after years of losing ground to Apple Inc.’s iPhone and Google Inc.’s Android.
9. Stocks at Risk With Government Shutdown Looming Before a Default
10. Deutsche Bank Said to Propose Creating Bond Platform With Rivals
Sept. 26 (Bloomberg) -- Deutsche Bank AG is trying to drum up interest with some of its largest competitors to create a multi-dealer U.S. bond trading platform at the same time that asset managers discuss ways to make buying and selling debt easier, according to people familiar with the matter.
1. Cotton-Candy IOS 7 Masks Potent Apple Upgrade: Rich Jaroslovsky
Sept. 26 (Bloomberg) -- Shiny new iPhones always get the most attention. But it’s iOS 7, the updated version of Apple’s mobile-device operating system, that will have the biggest impact on users.
2. Does ’Grand Theft Auto V’ Mean the End of Hollywood?: Charles Yu
Sept. 23 (Bloomberg) -- There’s a good chance you’ve heard: “Grand Theft Auto V,” the latest installment of the storied video game franchise, took in over $1 billion in its first week. That’s more than any movie released this year, with the exception of “Iron Man 3” (which happens to be the fifth highest-grossing movie of all time). At this rate, “GTA V” could be a nontrivial contributor to the U.S. gross domestic product. It’s a cultural event. Even Apple Inc. should be impressed.
3. Why France Shrugs at NSA Eavesdropping Revelations: Peter Gumbel
Sept. 25 (Bloomberg) -- At the United Nations General Assembly yesterday, Brazilian President Dilma Rousseff condemned the surveillance of electronic communications around the globe by the U.S. National Security Agency as a breach of individual rights and national sovereignty.
4. Maybe New Zealand Has the Answer to Asset Bubbles: William Pesek
Sept. 24 (Bloomberg) -- As the world’s biggest economies search for ways to let the air out of giant asset bubbles, they might find some answers in tiny New Zealand.
5. Republicans Cower as Cruz Makes His Last Stand: Margaret Carlson
Sept. 23 (Bloomberg) -- Move over Rand Paul. Ted Cruz may be cruising to the biggest loss in his short career as a U.S. senator and surpass you as the pre-eminent conservative in Congress.
1. Boomers Find They Need to Work to Support Retirement
Sept. 23 (Bloomberg) -- At the height of his corporate career Tom Palome was a vice president at Oral-B Laboratories, earning a salary in the low six-figures. Today the 77-year-old works two part-time jobs, at about $10 an hour, to support his retired lifestyle. Bloomberg’s Emmitt Henry reports.
2. Ellison’s Team USA in Comeback Wins America’s Cup
Sept. 25 (Bloomberg) -- Larry Ellison’s Oracle Team USA completed the biggest comeback in the 162-year history of America’s Cup sailing by beating Emirates Team New Zealand by 44 seconds in the deciding race of the regatta on San Francisco Bay, staving off elimination with eight straight wins. (Source: NBC Sports Network)
3. Death Dinners Gain Traction in U.S. as Baby Boomers Age
Sept. 24 (Bloomberg) -- As dinner parties go, attending one with a death theme might seem a little unusual. Bloomberg’s Shannon Pettypiece reports. (Source: Bloomberg)
4. Oracle USA Ties America’s Cup 8-8 Against Emirates N.Z.
Sept. 25 (Bloomberg) -- Oracle Team USA won its seventh straight race to tie the America’s Cup regatta at 8-8, setting up a winner-takes-all final race tomorrow against Emirates Team New Zealand on San Francisco Bay. (Video combines footage of races 17 and 18. Source: SNTV)
5. The Billionaire Brothers Behind Chanel
Sept. 24 (Bloomberg) -- It’s Paris fashion week and all eyes will be on Chanel’s Karl Lagerfeld who will debut the luxury-goods company’s ready-to-wear collection. But it’s Chanel’s owners who will walk in unnoticed. Bloomberg’s Tom Metcalf reports.
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