The following list comprises the most-read Bloomberg News reports from the past week.
1. Twitter Surges in Trading Debut After $1.82 Billion IPO
Nov. 7 (Bloomberg) -- Twitter Inc. jumped 73 percent in its trading debut, as investors paid a premium for its promises of fast growth.
2. SAC Agrees to Plead Guilty to Settle Insider-Trading Case
Nov. 5 (Bloomberg) -- Billionaire Steven A. Cohen’s SAC Capital Advisors LP, the hedge fund accused of fostering a culture of rampant insider trading, has agreed to plead guilty Nov. 8 to securities fraud and wire fraud, pay a record $1.8 billion and shutter its investment advisory business.
3. Pimco Said to Wager $10 Billion in Swaps: Credit Markets
Nov. 8 (Bloomberg) -- Pacific Investment Management Co. is wagering at least $10 billion in the credit-default swaps market that U.S. corporate bonds will gain as the Federal Reserve extends unprecedented stimulus into 2014, according to traders and investors.
4. Payrolls Jumped 204,000 as U.S. Economy Weathered Shutdown
Nov. 8 (Bloomberg) -- American employers added more workers to payrolls in October than forecast by economists, betting that the world’s largest economy would weather the impact of the federal government shutdown.
5. U.S. Stocks Decline on Fed Bets as Twitter Surges; Euro Weakens
Nov. 7 (Bloomberg) -- U.S. stocks and commodities slid as faster economic growth spurred concern the Federal Reserve will scale back stimulus sooner than expected, while Twitter Inc. surged in its trading debut. The euro fell, while the region’s bonds rose, as the European Central Bank cut interest rates.
6. NFL Player With Elite College Degree Became Bullying Target
Nov. 5 (Bloomberg) -- A degree from an elite academic school can make a player a magnet for bullying from teammates in the National Football League, according to a former Harvard University linebacker who spent seven seasons in the NFL.
7. ECB Reduces Key Rate to Record Low to Fight Deflation Risk
Nov. 7 (Bloomberg) -- The European Central Bank cut its benchmark interest rate to a record low after a drop in inflation to the slowest pace in four years threatened its mission to keep prices stable.
8. Goldman Sachs to BofA Are Said to Trade With SAC After Plea Deal
Nov. 5 (Bloomberg) -- Goldman Sachs Group Inc., JPMorgan Chase & Co. and Bank of America Corp. are among Wall Street firms still catering to SAC Capital Advisors LP after the hedge fund agreed to plead guilty to insider trading charges.
9. BlackBerry’s $4.7 Billion Deal Collapses, Prompting Shakeup
Nov. 4 (Bloomberg) -- BlackBerry Ltd., coping with the collapse of a $4.7 billion buyout by Fairfax Financial Holdings Ltd., will raise $1 billion in convertible bonds and seek a new chief executive officer for the struggling company.
10. Credit Suisse Said to Cut 50 Jobs in New York Fixed Income
Nov. 5 (Bloomberg) -- Credit Suisse Group AG, the second-biggest Swiss bank, plans to eliminate about 50 jobs in its fixed-income department in New York, two people with knowledge of the matter said.
1. Drunk on Debt, U.S. Tells Teetotaler to Sober Up: Caroline Baum
Nov. 7 (Bloomberg) -- It seems almost laughable for a country that can’t keep its government up and running to criticize other nations, but that’s what the U.S. Treasury did last week in its semiannual report on International Economic and Exchange Rate Policies.
2. Who Will Trade With SAC Capital Now?: Jonathan Weil
Nov. 4 (Bloomberg) -- One of the first people I’ll want to hear from now that SAC Capital Advisors LP has agreed to plead guilty to securities fraud is Gary Cohn, the president and chief operating officer of Goldman Sachs Group Inc.
3. Dan Loeb Helped Himself, Not Yahoo: William D. Cohan
Nov. 6 (Bloomberg) -- Dan Loeb, the billionaire founder and principal owner of Third Point LLC, the $14 billion activist hedge fund, has made about $1 billion for himself and his investors from a two-year crusade to increase Yahoo! Inc.’s stock price. He’s been extraordinarily successful; the shares trade for about $33 these days, up from about $13.50 when Loeb started buying them in September 2011.
4. India Shouldn’t Buy Line Japan Offers: Pankaj Mishra
Nov. 4 (Bloomberg) -- An obsession with nuclear power makes many political elites secretive, ruthless and delusional, even as their cherished projects threaten millions of people with disaster. But the egregious examples I have in mind here aren’t Iran, Pakistan and North Korea. They are Japan and India, two countries with democratic institutions.
5. Of Debt, Growth, Interest Rates and History: Carmen M. Reinhart
Nov. 5 (Bloomberg) -- The blog of New York Times columnist Paul Krugman recently featured a chart plotting the U.K.’s ratio of government debt to gross domestic product against the nominal yield on long-term government bonds from about 1700 to the present.
1. Draghi Says Euro Area Risks ‘Prolonged’ Low Inflation
Nov. 7 (Bloomberg) -- European Central Bank President Mario Draghi speaks at his monthly news conference in Frankfurt about the decision to cut the benchmark interest rate to a record low of 0.25 percent and the risk of low inflation in the euro area.
2. Chicago 16-Year-Old Dodges Death Pursuing Dreams of NBA
Nov. 5 (Bloomberg) -- At 16, Edward Morrow is a rising basketball star at Chicago’s Simeon Career Academy, the South Side high school that produced guard Derrick Rose of the National Basketball Association’s Chicago Bulls and the No. 2 college recruit last season, Duke University’s Jabari Parker.
3. Texans Coach Kubiak Collapses During Halftime of Game
4. Dolphins Case ‘Above and Beyond’ Hazing Norm, Lee Says (Audio)
Nov. 5 (Bloomberg) -- Eugene Lee, a National Football League player agent, talks with Bloomberg’s Eben Novy-Williams about allegations involving the harassment of Miami Dolphins offensive linesman Jonathan Martin by teammate Richie Incognito.
5. Cadillac’s Latest CTS Sedan Takes Aim at BMW 5 Series
Nov. 7 (Bloomberg) -- The 2014 Cadillac CTS luxury sedan is seen in a promotional video from General Motors Co.
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