The following list comprises the most-read Bloomberg News reports from the past week.
1. Equity Traders’ Bonuses Seen Rising as Rates Salesmen Face Drop
Nov. 13 (Bloomberg) -- Compensation for Wall Street’s equities salesmen and traders is expected to rise in 2013, while total pay for employees in fixed-income units may drop 10 percent, according to recruitment firm Options Group Inc.
2. Auschwitz Survivor’s Daughter Turns Billionaire on Toll Deal
Nov. 14 (Bloomberg) -– Vera Guerin, whose late father Nathan Shapell survived two Nazi concentration camps and became one of California’s largest property developers, emerged as a billionaire last week after Toll Brothers Inc. agreed to buy her family’s Shapell Industries Inc.’s homebuilding business for $1.6 billion.
3. Goldman Names 280 Managing Directors in Biennial Promotions
Nov. 13 (Bloomberg) -- Goldman Sachs Group Inc., the fifth-biggest U.S. bank by assets, promoted 280 employees to managing director, up from 266 last year, as it begins making the selections every two years instead of annually.
4. S&P 500 Reaches Record as Treasuries Extend Advance After Yellen
Nov. 13 (Bloomberg) -- U.S. stocks rose, with the Standard & Poor’s 500 Index climbing to a record, as retailers led gains amid optimism over the holiday shopping season. Treasuries extended their advance after Janet Yellen said the American economy must improve before cuts to monetary stimulus.
5. NYC’s World Trade Tower Opens 40% Empty in Revival: Real Estate
Nov. 12 (Bloomberg) -- The first skyscraper at lower Manhattan’s World Trade Center is set to open with two days of ceremonies to mark the renewal of the area after its destruction by terrorists. When the fanfare subsides, the task will be filling the 40 percent of the tower that’s empty.
6. Moody’s Downgrades Four U.S. Banks on Federal Support Review
Nov. 15 (Bloomberg) -- Moody’s Investors Service cut its ratings on four of the biggest U.S. banks after deciding the government would be less likely to help them repay creditors in a crisis.
7. Apple Said Developing Curved IPhone Screens, New Sensors
Nov. 11 (Bloomberg) -- Apple Inc. is developing new iPhone designs including bigger screens with curved glass and enhanced sensors that can detect different levels of pressure, said a person familiar with the plans.
8. Yellen Signals More Bond Purchases Until Recovery Improves
Nov. 14 (Bloomberg) --Janet Yellen, nominated to be the next chairman of the Federal Reserve, signaled she will carry on the central bank’s unprecedented stimulus until she sees improvement in an economy that’s operating well below potential.
9. Yellen Says U.S. Economy Must Improve Before Fed Tapers QE
Nov. 13 (Bloomberg) -- Janet Yellen, nominated to be the next chairman of the Federal Reserve, said the economy and labor market are performing “far short of their potential” and must improve before the Fed can begin reducing monetary stimulus.
10. Woods Makes Caddie’s Beef Jerky Golf-Bag Accessory at $54-Pound
Nov. 14 (Bloomberg) -- At last week’s U.S. PGA Tour event along the Georgia coast, players were treated to a Southern lunch of fried chicken, black-eyed peas and collard greens at Sea Island Resort.
1. Tesla’s Funny Math Is Fuel for Cockroach Theories: Jonathan Weil
Nov. 15 (Bloomberg) -- Tesla Motors Inc. shareholders have had much to fret about lately, from a nosebleed valuation and sagging stock price to periodic YouTube videos of exploding Tesla electric cars. Here’s another one for the list: Sometimes Tesla acts like it doesn’t know what it’s doing when it comes to financial reporting.
2. Oysters Could Save New York From More Sandys: James S. Russell
Nov. 12 (Bloomberg) -- Kate Orff wants to grow oysters in New York’s Jamaica Bay. Not for you to eat, but to save the shore from mighty storms.
3. The Secret James Bond Missed in ’Skyfall’: Stephen L. Carter
Nov. 11 (Bloomberg) -- Last year, shortly after the excellent James Bond film “Skyfall” was released, I asserted in a column that an anagram at the heart of the film suggested that a critical subplot had been left on the cutting-room floor. I received several e-mails asking why I hadn’t disclosed what I thought I knew. The answer is that I couldn’t explain the anagram without including several spoilers. Now that a year has passed since the U.S. opening (November 9, 2012), I suppose it’s time to explain what I meant. (Warning: Those aforementioned spoilers are below!)
4. MacBooks, Mavericks Extend Apple’s Universe: Rich Jaroslovsky
Nov. 14 (Bloomberg) -- When the same company controls the hardware, software and services, it’s called “owning the stack.” And no one does it like Apple.
5. Handcuffs for Fed Tighten With Fiscal Profligacy: Caroline Baum
Nov. 14 (Bloomberg) -- Every time I see references in academic papers to “fiscal dominance,” I envision a gigantic dominatrix, whip in hand, staring down at the world.
1. Yellen Testifies at Confirmation Hearing
Nov. 14 (Bloomberg) – Janet Yellen, the nominee for chairman of the Federal Reserve, speaks about the central bank’s monetary stimulus, the U.S. economy and financial regulation at her confirmation hearing before the Senate Banking Committee. (This is Yellen’s prepared statement. Source: Bloomberg)
2. Holocaust Survivor’s Child a Billionaire on Toll Deal
Nov. 14 (Bloomberg) -– Vera Guerin, whose late father Nathan Shapell survived Nazi concentration camps and became one of California’s largest property developers, emerged as a billionaire last week after Toll Brothers Inc. agreed to buy her family’s Shapell Industries Inc.’s homebuilding business for $1.6 billion. Bloomberg’s Peter Newcomb reports.
3. Silverstein Seeks Tenants as 4 World Trade Center Opens
Nov. 12 (Bloomberg) -- Dara McQuillan of Silverstein Properties Inc. talks with Bloomberg’s David Levitt about the construction of 4 World Trade Center in New York’s lower Manhattan, as the renewal of the area continues 12 years after the 9/11 terrorist attacks.
4. Black Series Is Mercedes-Benz’s Most Extreme SLS AMG (Video)
Nov. 14 (Bloomberg) -- The Mercedes-Benz SLS AMG Black Series coupe is seen in a promotional video from Mercedes-Benz USA.
5. PGA Caddie, Kingmade Founder Says Jerky Is ‘Super-Cool’
Nov. 14 (Bloomberg) -- Jeff King, a professional caddie and founder of Kingmade Jerky, talks with Bloomberg’s Mike Buteau about starting a high-end snack food business based on his personal recipe.
To contact the reporter on this story: Audrey Barker in New York at firstname.lastname@example.org
To contact the editor responsible for this story: Alan Mirabella at email@example.com