The following list comprises the most-read Bloomberg News reports from the past week.
1. Volcker Rule Ushers in Era of Increased Oversight of Trades
Dec. 10 (Bloomberg) -- Wall Street faces more intensive government scrutiny of trading after U.S. regulators issued what they billed as a strict Volcker rule today, imposing new curbs designed to prevent financial blowups while leaving many details to be worked out later.
2. Wall Street Exhales as Volcker Rule Seen Sparing Market-Making
Dec. 11 (Bloomberg) -- Wall Street banks avoided their worst fears of the Volcker rule after regulators crafted the ban on speculative trading to leave market-making operations intact.
3. Morgan Stanley Sees ‘Acute’ Talent Battle for Equity Traders
Dec. 10 (Bloomberg) -- Morgan Stanley is seeing an “acute” battle for equity traders after rising to the top spot in revenue last quarter, said Colm Kelleher, head of the firm’s investment bank and trading division.
4. Era of Lucrative Debt Team Fades as Credit Suisse Sees Exits
Dec. 11 (Bloomberg) -- Thirteen years after Credit Suisse Group AG crowned itself Wall Street’s new junk-bond king by buying Donaldson Lufkin & Jenrette Inc., the last vestiges of its reign in the most lucrative credit business are being squeezed out by post-crisis banking regulations.
5. U.S. Stocks Slide Most in a Month as Gasoline, Crude Oil Retreat
Dec. 11 (Bloomberg) -- U.S. stocks fell the most in a month and Treasuries dropped on speculation the budget agreement will make the Federal Reserve more confident to reduce stimulus. Gasoline and oil slid while the yen and euro strengthened.
6. Manhattan Apartment Rents Fall as Vacancies Hit 7-Year High
Dec. 11 (Bloomberg) -- Manhattan apartment rents fell for a third month in November and the vacancy rate reached the highest in at least seven years, signs the market is weakening amid a spike in homebuying and the lure of leasing in Brooklyn.
7. Lawrence McCarthy, Who Saw Swaps Danger at Lehman, Dies at 49
Dec. 12 (Bloomberg) -- Lawrence McCarthy, a senior managing director at Cantor Fitzgerald LP who, as an executive at Lehman Brothers Holdings Inc., was said to have predicted that credit-default-swap traders were “working on bringing down the whole world,” has died. He was 49.
8. Dimon Says Banks Will Reprice Loan Products on Capital Rules
Dec. 11 (Bloomberg) -- JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said banks will have to charge more for lending to get a “fair return” as regulators require the industry to set aside more funds to cushion against losses.
9. Goldman Sachs Goes Against Consensus in Dollar Call: Currencies
Dec. 13 (Bloomberg) -- Goldman Sachs Group Inc.’s Thomas Stolper, who correctly predicted the dollar’s slide against the euro this year, is deviating from the consensus that the greenback will be among the best currencies to own in 2014.
10. Doctor Helps Grandma Die to Avoid Japanese Feeding-Tube Culture
Dec. 9 (Bloomberg) -- Kojiro Tokutake wanted to be a doctor since he was a teenager. His grandmother bought him his first stethoscope when he was in medical school. A decade later, he helped her die.
1. RBS Wins the Award for ‘Dumbest Bank of the Year’: Jonathan Weil
Dec. 11 (Bloomberg) -- Back in 1999, after the notorious con man Martin Frankel went missing, federal agents found a partially burned to-do list at his mansion in Greenwich, Connecticut. Item No. 1 on the list: “Launder money.”
2. Newt Gingrich Is Clueless on Japanese Women, Too: William Pesek
Dec. 10 (Bloomberg) -- Women in Japan are used to being underutilized, condescended to and exploited. Must they play a role in Newt Gingrich’s cheap Washington partisanship, too?
3. Fox News’s Kelly Is Dreaming of a White Jesus: Jeffrey Goldberg
Dec. 13 (Bloomberg) -- Cecil B. DeMille still has me half-convinced that Moses was a strappingly handsome man of pronounced Anglo-Saxon appearance. Growing up, I watched “The Ten Commandments” every Passover, and the charismatic Charlton Heston has a way of imprinting himself permanently on a child’s mind. So I am half-sympathetic to Megyn Kelly, the Fox News anchor who earlier this week said, during an on-air debate about depictions of Santa Claus (because there’s nothing else going on in the world, apparently), that “Jesus was a white man.” She went on to say, “He’s a historical figure that’s a verifiable fact, as is Santa. I just want kids to know that. How do you revise it in the middle of the legacy in the story and change Santa from white to black?”
4. Obama Must Fire Staff to Right Troubled Second Term: Ezra Klein
Dec. 11 (Bloomberg) -- When the Barack Obama administration realized that its HealthCare.gov website was fundamentally broken rather than merely glitchy, aides called former management consultant Jeff Zients to fix it.
5. Hedge-Fund Honcho Cohen’s Plausible Deniability: Jonathan Weil
Dec. 9 (Bloomberg) -- If Mathew Martoma was ever going to strike a deal with the government and turn against his former boss, Steven A. Cohen, he probably would have done it a long time ago. The odds that he ever will look even more remote now.
1. Obama Says Mandela Was Last of the Great Liberators
Dec. 10 (Bloomberg) -- U.S. President Barack Obama speaks at the memorial service for former South African President Nelson Mandela at FNB Stadium in Soweto, a township southwest of Johannesburg.
2. Mandela Memorial Sign Language Accused of Being ‘Fake’
Dec. 11 (Bloomberg) -- An interpreter used to communicate with hearing-impaired people at a memorial service held for Nelson Mandela yesterday was accused of being a fake by the Deaf Federation of South Africa.
3. Draghi Says Sovereign Debt to Be Tested Like All Assets
Dec. 12 (Bloomberg) -- European Central Bank President Mario Draghi speaks in the European Parliament in Strasbourg, France, about inflation expectations, the euro-area economy and stress-testing sovereign debt.
4. Princeton University Exile of Dinky Train Riles Locals
Dec. 11 (Bloomberg) -- Princeton University closed the terminal for the Dinky train and moved it 1,200 feet south to make room for an arts center.
5. Broncos’ Prater Kicks NFL Record 64-Yard Field Goal
Dec. 9 (Bloomberg) -- Denver Broncos kicker Matt Prater set an NFL record, making a 64-yard field goal on the final play of first half of yesterday’s 51-28 win over the Tennessee Titans.
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