The following list comprises the most-read Bloomberg News reports during October.
1. Stocks Rally Most Since January, Bill Rates Fall on Debt Talks
Oct. 10 (Bloomberg) -- U.S. stocks jumped the most since January and Treasury bill rates tumbled as lawmakers moved toward an agreement to raise the debt ceiling and avoid a default. Gold slumped while oil rallied.
2. Goldman Pushes Junior Investment Bankers to Take Weekends Off
Oct. 29 (Bloomberg) -- Goldman Sachs Group Inc., this year’s top merger adviser, is discouraging investment banking analysts from working weekends as it overhauls demands placed on entry-level employees and the support they receive.
3. 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.
4. Goldman Shrinking Pay Shows Wall Street Set for Bonus Gloom
Oct. 31 (Bloomberg) -- Goldman Sachs Group Inc., which set Wall Street pay records when stocks surged and cheap credit abounded in 2007, is again leading the industry as markets boom anew: putting aside less money for staff and more for investors.
5. 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.
6. Meredith Whitney Winds Down Brokerage After Setting Up Fund
Oct. 10 (Bloomberg) -- Meredith Whitney, who built her own Wall Street advisory firm after winning renown for a 2007 call on Citigroup Inc., deregistered her brokerage unit following three unprofitable years and is setting up an investment fund, according to industry records.
7. A U.S. Default Seen as Catastrophe Dwarfing Lehman’s Demise
Oct. 7 (Bloomberg) -- Anyone who remembers the collapse of Lehman Brothers Holdings Inc. little more than five years ago knows what a global financial disaster is. A U.S. government default, just weeks away if Congress fails to raise the debt ceiling as it now threatens to do, will be an economic calamity like none the world has ever seen.
8. 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.
9. 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.
10. RBS Said to Give Currency Trader’s Chats to FCA Amid Probe
Oct. 9 (Bloomberg) -- Royal Bank of Scotland Group Plc has handed over records of instant messages to U.K. regulators after concluding a former currency trader’s communications with counterparts at other firms may have been inappropriate, according to two people with knowledge of the matter.
Oct. 15 (Bloomberg) -- “Thank you, Mr. President. Signed, John Boehner.”
2. Why Wealthiest Are in the Taxman’s Crosshairs: A. Gary Shilling
Oct. 23 (Bloomberg) -- After the recent recession, the personal-taxes-to-personal-income ratio dropped well below the 12.3 percent long-run average, a casualty of the tax cuts, depressed household incomes and the weak recovery. In combination with depressed corporate tax collections and increased federal spending -- especially in 2009, when outlays equaled 6 percent of gross domestic product -- these forces pushed the federal deficit to more than $1 trillion a year.
3. Apple’s New IPad Is Slimmed Down, Speeded Up: Rich Jaroslovsky
Oct. 30 (Bloomberg) -- Apple calls the latest version of its full-sized tablet the iPad Air, which is a better name than “iPad Semi Mini.”
4. Who Really Wins if JPMorgan Pays $13 Billion?: Jonathan Weil
Oct. 20 (Bloomberg) -- Memories of the fictional sports announcer Biff Burns came to mind this weekend amid all of the anonymously attributed news reports that the Justice Department had reached a tentative settlement agreement with JPMorgan Chase & Co. worth $13 billion.
5. Steve Jobs Never Worried About Debt Ceiling: Caroline Baum
Oct. 3 (Bloomberg) -- Everyone knows, or has heard the cliche, that markets hate uncertainty. It’s also a given that the future is always uncertain. How, then, do markets ever manage to function -- or, for that matter, businesses, which must make decisions today about investments that will pay off in the future?
1. Draghi Says ECB Ready to Act to Control Money Markets
Oct. 2 (Bloomberg) -- European Central Bank President Mario Draghi speaks at a news conference in Paris about euro-area inflation, money-market rates, economic activity and the process of an asset-quality review.
2. 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.
3. Obama Warns of Deep Recession If Debt Limit Not Raised
Oct. 8 (Bloomberg) -- President Barack Obama speaks about the U.S. government shutdown and federal debt ceiling.
4. Bitcoin Price Swings as Startups Draw Regulators’ Glare
Oct. 3 (Bloomberg) -- Bitcoin, the digital currency, has gained prominence this year for its wild price swings and for piquing the interest of regulators from New York to Germany. Bloomberg’s Stephanie Baker reports.
5. Maserati’s Quattroporte Sedan Takes On Audi, Mercedes
Oct. 10 (Bloomberg) -- The sixth generation Maserati Quattroporte sedan is seen in a promotional video from Maserati SpA.
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