The following list comprises the most-read Bloomberg News reports from the past week.
1. Gross Mistake on Fed Taper Echoes Across Pimco Mutual Funds
Jan. 3 (Bloomberg) -- Bill Gross, the money manager known as “The Bond King,” misjudged the timing and impact of the Federal Reserve’s plan to scale back its asset purchases in 2013, spurring the Pimco Total Return Fund’s biggest decline in almost two decades.
2. Bonus-Boosting Rally in U.S. Bank Stocks Seen Fading in 2014
Jan. 2 (Bloomberg) -- Shares of U.S. financial firms just staged their biggest annual rally since 1997, creating a bonanza for Wall Street employees who received bonuses in deferred stock. The new year doesn’t hold the same promise.
3. Paulson Funds Get $490 Million as ‘Mooch’ Rotates to Stocks
Dec. 30 (Bloomberg) -- Hedge-fund manager John Paulson is one of the biggest beneficiaries of a great rotation from bonds to stocks at the firm led by Anthony “the Mooch” Scaramucci.
4. Deadliest Frat’s Icy ‘Torture’ of Pledges Evokes Tarantino Films
Dec. 30 (Bloomberg) -- On a chilly March night, Sigma Alpha Epsilon brothers ordered Justin Stuart to recite the fraternity’s creed.
5. S&P 500 Drops From Record as Treasuries, Gold Gain; Oil Tumbles
Jan. 2 (Bloomberg) -- U.S. stocks fell, with the Standard & Poor’s 500 Index starting the year lower for the first time since 2008, as investors sold shares after the best annual gain in 16 years. Treasuries and gold climbed, while crude oil slid.
6. Ex-Formula One Champion Schumacher Critical After Ski Crash
Dec. 30 (Bloomberg) -- Michael Schumacher, the record seven-time Formula One world champion, remains in a critical condition after sustaining severe head injuries while skiing in the French Alps yesterday, his doctors said.
7. U.S. Northeast Snowstorm Shuts State Offices, Scrubs Flights
Jan. 2 (Bloomberg) -- A winter storm that’s expected to bring more than a foot of snow to parts of New England and blizzard conditions to Long Island grounded almost 2,000 flights on the first work day of the New Year.
8. Goldman Sachs Leveraged Loan Head Trader Meeker Departs Firm
Dec. 30 (Bloomberg) -- Sean Meeker, the head of loan and loan credit-default swap trading at Goldman Sachs Group Inc., has left the firm.
9. Berkshire Seen Failing Buffett’s Five-Year Test for First Time
Jan. 2 (Bloomberg) -- Warren Buffett probably missed his target for the first time in 44 years.
10. SAC’s Cohen Focus of Insider Trial as Martoma Rebuffs U.S.
Jan. 2 (Bloomberg) -- Mathew Martoma may have the one thing prosecutors have been unable to find in their probe of SAC Capital Advisors LP: a direct link between founder Steven Cohen and insider trading. Having refused to cooperate, Martoma now faces trial for what the government claims was the biggest illegal trade in U.S. history.
1. Roubini and Faber See Bubbles Everywhere in 2014: William Pesek
Dec. 31 (Bloomberg) -- As we head into 2014, one thing is clear about the outlook for Asia: No one really has a clue what’s in store for this increasingly eclectic, cacophonous and unpredictable region.
2. America’s Favorite Pastime Needs to Save Itself: Albert R. Hunt
Dec. 30 (Bloomberg) -- The U.S., polarized politically and splintered socially, is about to experience one of its few widely shared moments: the professional football playoffs.
3. China’s Train Running Out of Track: Patrick Chovanec
Jan. 3 (Bloomberg) -- A financial drama is unfolding in China as the new year begins. Last week, for the second time in six months, interest rates in the critical interbank lending market spiked above 10 percent, prompting fears of a liquidity crisis that would trigger mass defaults and cripple the world’s second-largest economy.
4. What If the 21st Century Actually Begins This Year?: David Brin
Jan. 1 (Bloomberg) -- As if you didn’t already have enough to be nervous about, here’s something creepy to ponder as the new year opens.
5. Secret of Higher Interest Rates Revealed to All: Caroline Baum
Jan. 2 (Bloomberg) -- I can only imagine what the average person must think when he reads what passes for economic analysis in the daily press. Let me give you an example.
1. East Coast Braces for Snow, Blizzard Conditions
Jan. 2 (Bloomberg) -- Bloomberg meteorologist Bonnie Schneider tracks a powerful snow storm on the East Coast on Bloomberg Television’s “Bloomberg Surveillance.” (Source: Bloomberg)
2. Russia Suicide Bombing Kills at Least 14 on Trolleybus (Video)
Dec. 30 (Bloomberg) -- A suicide bomber on a trolleybus killed at least 14 people and injured 28 others in the southern city of Volgograd during rush hour after 8:10 a.m. local time, Russia’s Investigative Committee said on its website.
Today’s bombing comes a day after at least 16 were killed near a metal detector placed at the entrance to the city’s train station, according to the law enforcement agency. The twin bombings raise the security threat less than six weeks before Russia hosts the Winter Olympics in Sochi. (Source: APTN)
3. Schumacher in ‘Critical’ Condition, Hospital Says (Fre) (Video)
Dec. 30 (Bloomberg) -- Marc Penaud, deputy director at Grenoble Hospital, and Stephane Chabardes, a surgeon, speak at a news conference about the condition of seven-time Formula One world champion Michael Schumacher following a ski accident yesterday in Meribel, France. (This event is in French. Source: APTN)
4. De Blasio Sworn In as NYC Mayor, Focuses on Wealth Gap (Video)
De Blasio is the first Democrat to run New York in 20 years. The ceremony in lower Manhattan was attended by thousands who heard the mayor vow to dedicate his government to improving life for the least fortunate. (Source: Bloomberg)
5. Oil Train in North Dakota Catches Fire After Derailing (Video)
Dec. 31 (Bloomberg) -- A BNSF Railway Co. train carrying oil caught fire after a collision with railcars in North Dakota yesterday, causing a series of explosions that prompted police to urge local residents to evacuate the area.
There were no injuries to the train crews involved, Berkshire Hathaway Inc.’s BNSF said in a statement. The accident occurred at 2:10 p.m. local time near Casselton, about 25 miles (40 kilometers) west of Fargo. (Source: WDAY/KXJB/ABC)
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