The following list comprises the most-read Bloomberg News reports from the past week.
1. Wall Street Hires Losers Turned Winners After College Athletics
Oct. 16 (Bloomberg) -- Inside One Equity Partners are as many as eight Olympians and even more of their world- or Olympic gold medals, said managing partner Dick Cashin, who competed internationally as a rower and now hires former college athletes while recommending others do the same.
2. Stocks Surge as VIX, Treasury Bill Rates Slide on U.S. Debt Deal
Oct. 16 (Bloomberg) -- U.S. stocks surged while the benchmark gauge of options prices slid the most in two years as the Senate crafted a deal to end the government shutdown and raise the debt ceiling. Treasury bill rates dropped while energy led commodities higher and the yen fell against all major peers.
3. Ex-RBS Trader in U.K. Currency Probe Said to Be JPMorgan’s Usher
Oct. 15 (Bloomberg) -- Richard Usher, JPMorgan Chase & Co.’s chief dealer in London, wrote instant messages while he was at Royal Bank of Scotland Group Plc that U.K. regulators are scrutinizing as part of their investigation of alleged currency manipulation, two people with knowledge of the matter said.
4. Senate Crafts Fiscal Deal Amid Signs Boehner Will Accept It
Oct. 16 (Bloomberg) -- The bipartisan leaders of the U.S. Senate reached an agreement to end the fiscal impasse and to increase U.S. borrowing authority. The Senate and House plan to vote on it later today, and the White House press secretary said President Barack Obama supports the deal.
5. Treasury Bill Rates Jump, U.S. Stocks Fall as Debt Talks Stall
Oct. 15 (Bloomberg) -- Treasury bill rates surged to the highest level since the securities were sold in April and U.S. stocks snapped a four-day rally as lawmakers failed to reach an agreement to extend the government’s borrowing limit less than two days before the deadline. Oil fell and gold erased losses.
6. Citigroup Earnings Miss Estimates on Bond Trading, Mortgages
Oct. 15 (Bloomberg) -- Citigroup Inc., the third-biggest U.S. bank, reported a $3.23 billion profit that missed analysts’ estimates as bond trading slumped 26 percent and U.S. mortgage revenue declined.
7. Barclays, Citigroup FX Trader Messages Said to Be Examined
Oct. 18 (Bloomberg) -- An instant-message group involving senior traders at banks including Barclays Plc, Citigroup Inc. and Royal Bank of Scotland Group Plc is being scrutinized by regulators investigating potential manipulation of the foreign-exchange market, four people with knowledge of the probe said.
8. Deutsche Bank Swaps E-Mail Said No One Likes Being ‘Screwed’
Oct. 15 (Bloomberg) -- A Deutsche Bank AG employee said clients don’t want to know how they were “screwed” in a 2007 swap deal at the center of a court fight over whether banks can be sued for manipulation of benchmark interest rates.
9. U.S. Stocks Climb While Yen, Gold Trim Early Gains on Debt Talks
Oct. 14 (Bloomberg) -- U.S. stocks rose, erasing early losses, as Senate leaders in both parties said they are optimistic about ending a partial government shutdown and preventing the nation from breaching the debt ceiling in three days. The yen and gold pared gains.
10. Congress Vote Ends Fiscal Impasse to Be Revisited in January
Oct. 17 (Bloomberg) -- After the partisan passions and heated rhetoric, the disruptions of a government shutdown and displays of dysfunction, Congress did what it could have done weeks ago: voted to fund the government and lift the debt limit.
Oct. 15 (Bloomberg) -- “Thank you, Mr. President. Signed, John Boehner.”
Deep beneath the year-round tan, the Camel Ultra Lights and the merlot, there beats a grateful heart. Somebody had to take on the Tea Party that has turned Boehner’s tenure as House speaker into a living hell.
2. Old Jewish Men Have Valuable Advice for Miley Cyrus
Oct. 17 (Bloomberg) -- The chanteuse Miley Cyrus, a subject of much controversy these past several weeks, mainly owing to her performance at the MTV “Video Music Awards” (among other things, she mimicked masturbation with an oversized foam finger, twerked, and, unforgivably, sexualized teddy bears), is unhappy, despite her temporal success, with some of the advice she has lately received.
3. Bolivian Farmers Made World Crave Quinoa: Jim Yong Kim
Oct. 14 (Bloomberg) -- On a recent trip to Bolivia, I traveled by helicopter with President Evo Morales to Santa Ana de Chipaya, a settlement almost 13,000 feet (3,960 meters) above sea level that is home to the last 3,800 speakers of the Chipaya language. There, we played soccer with members of the community, who then served us a lunch of lamb and quinoa, a grain-like crop that people in and around Chipaya have grown for thousands of years.
4. Threat to U.S. Prosperity Even Worse Than Congress: Clive Crook
Oct. 16 (Bloomberg) -- The good news from Washington is that plans to extend the debt-ceiling farce into 2014 are moving forward on a bipartisan basis. The chances that the U.S. government may soon resume its functions temporarily and that there’ll be no default on U.S. sovereign debt for as much as several months appear to have improved.
5. Real Makes Apple, Android Videos Play Nice: Rich Jaroslovsky
Oct. 17 (Bloomberg) -- There’s no reason you need to know what a codec is. Unless you’ve tried to view or share video shot on one type of device, say an Android phone, on another, like an iPhone.
1. Drum-O’Neill Seeks College Athletes for Wall Street
Oct. 16 (Bloomberg) -- Carly Drum-O’Neill, founder of Drum Associates’ unit devoted exclusively to current and former college athletes, talks about the executive search firm’s efforts to find accomplished athletes for entry-level positions on Wall Street.
2. Audi’s R8 Coupe Still Rocking Roads in Its Middle Age
Oct. 17 (Bloomberg) -- The 2014 Audi R8 V-10 Plus coupe is seen in a promotional video from Audi AG.
3. Crocodile Leather Requires Lots of Skill, Van As Says
Oct. 16 (Bloomberg) -- Stefan van As, owner of Le Croc crocodile breeding farm and tannery, talks about the demand for nile crocodile leather and the process of skinning, tanning and caring for the animal skin.
4. Senate Leaders Reid, McConnell Discuss Fiscal Accord
Oct. 16 (Bloomberg) -- U.S. Senate Majority Leader Harry Reid, a Democrat from Nevada, and Minority Leader Mitch McConnell, a Republican from Kentucky, speak on the Senate floor about a bipartisan agreement reached by Senate leaders today to end the fiscal impasse and to increase U.S. borrowing authority.
5. Parisian Luxury Estates Draw Middle East, U.S. Buyers
Oct. 15 (Bloomberg) -- Marie-Helene Lundgreen, director of Daniel Feau’s international department Belles Demeures de France, talks about renewed demand from foreign buyers for multimillion-euro properties in Paris.
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