The following list comprises the most-read Bloomberg News reports from the past week.
1. JPMorgan, Goldman, 16 Other Firms to End Analyst Surveys
Feb. 26 (Bloomberg) -- JPMorgan Chase & Co. and Goldman Sachs Group Inc. were among 18 financial firms that agreed to stop participating in some surveys of analyst sentiment while New York investigates early access to the information.
2. Buffett Warns of Liquidity Curse, Celebrates Property Wagers
Feb. 24 (Bloomberg) -- Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc., cited a farm he’s owned since 1986 to caution individuals against frequent buying and selling of stocks.
3. Ex-Jefferies Trader Customers Say Lies a Common Trade Tactic
Feb. 25 (Bloomberg) -- Ex-Jefferies & Co. trader Jesse Litvak’s former customers told a jury during his fraud trial in Connecticut that lies and misrepresentations are a common part of the give-and-take of bond trading.
4. S&P 500 Touches Record as Commodities Rise, Ukraine Stocks Surge
Feb. 24 (Bloomberg) -- U.S. equities rallied, with the Standard & Poor’s 500 Index touching an intraday record and all but erasing its 2014 decline, amid confidence the economy is strong enough to weather cuts to monetary stimulus. Commodities gained while Ukrainian shares jumped the most since 2010.
5. Wall Street Hates $3,500 JPMorgan Fee for $1 Trillion Junk Loans
Feb. 28 (Bloomberg) -- On Wall Street, $3,500 goes further than anyone dared imagine in the 1980s when the predecessor to JPMorgan Chase & Co. charged the fee to trade each non-investment grade loan it sold.
6. S&P 500 Extends Record as Treasuries Drop on Economic Optimism
Feb. 28 (Bloomberg) -- The Standard & Poor’s 500 Index rose to another record and Treasuries fell amid improving U.S. consumer confidence and speculation the Federal Reserve will continue to support the economy. The euro strengthened after data showed faster-than-estimated inflation.
7. Ukraine Looks to IMF Bailout as Gunmen Storm Crimea Assembly
Feb. 28 (Bloomberg) -- Ukraine’s new government started work on securing international financing to avert a default as separatist tensions flared in the southern Crimea region.
8. BlueCrest Internal Fund May Pose Pay Conflict, Albourne Says
Feb. 27 (Bloomberg) -- BlueCrest Capital Management LLP, Michael Platt’s $32 billion hedge-fund firm, has a potential conflict of interest over a fund that it runs for the benefit of its partners, according to a report by one of the world’s largest advisers to institutional investors.
9. RBS Posts Biggest Loss Since 2008 as McEwan Begins Overhaul
Feb. 27 (Bloomberg) -- Royal Bank of Scotland Group Plc posted the biggest full-year loss since its bailout in 2008 as Chief Executive Officer Ross McEwan outlined plans to return what he called the industry’s least-trusted lender to profit.
10. S&P 500 Reaches Record on Yellen as Yen Climbs; Sugar Advances
Feb. 27 (Bloomberg) -- U.S. stocks climbed, with the Standard & Poor’s 500 Index rising to a record, as Federal Reserve Chair Janet Yellen said the central bank may alter its strategy on stimulus cuts should the economy weaken. The yen gained on worsening Ukraine tensions while sugar surged.
1. Credit Suisse CEO Joins Wall Street Clueless Club: Jonathan Weil
Feb. 27 (Bloomberg) -- One of the best lines to come out of the financial crisis was by Michael Lewis in a March 2008 column for Bloomberg News: “Jimmy Cayne plays bridge, and Stan O’Neal golfs while their firms collapse, not because they don’t care their firms are collapsing, but because they don’t know that their firms are collapsing,” he wrote.
2. Baldwin Yields Ground to Paparazzi: Margaret Carlson
Feb. 25 (Bloomberg) -- If you’re like me -- and I’m not advising it -- you sometimes read the reaction to an article before you read the article itself.
3. Eric Schneiderman Cracks Down on What’s Legal: Jonathan Weil
Feb. 26 (Bloomberg) -- Now that we know New York has an attorney general who makes up the law as he goes along when it comes to the securities industry, where will he draw the line?
4. WhatsApp Changes Meaning of Work in America: William D. Cohan
Feb. 25 (Bloomberg) -- By paying $19 billion in cash and stock for WhatsApp Inc.’s 55 employees -- $345 million apiece -- Facebook Inc. has crystallized why it’s been so difficult for the U.S. to climb out of the unemployment ditch dug by the 2008 financial crisis.
5. Japan’s Partners Have Had Enough of the Weaker Yen: Jim O’Neill
Feb. 24 (Bloomberg) -- Being a currency isn’t always easy. Sometimes they’re asked to be weak. Weak can be good. But not too weak. That can be unneighborly, or cause inflation -- and if a currency weakens too fast, that might be a crisis. What’s a currency to do?
1. Yellen Testifies on Federal Reserve Policy, U.S. Economy
Feb. 27 (Bloomberg) -- Federal Reserve Chair Janet Yellen testifies about the U.S. economy, central bank policy and financial regulation.
2. Greenspan Says Income Inequality in U.S. Is ‘Dangerous’
3. Credit Suisse CEO Dougan Testifies on U.S. Tax Probe
Feb. 26 (Bloomberg) -- Brady Dougan, chief executive officer of Credit Suisse Group AG, testifies before the U.S. Senate Permanent Subcommittee on Investigations about the bank’s efforts to comply with U.S. tax laws and the “bad conduct” of some employees at the bank.
4. $250,000 Equus Takes ’60s Muscle Styling to the Max
Feb. 24 (Bloomberg) -- When it comes to retro styling the major carmakers have nothing on Detroit’s newcomer, Equus. Bloomberg’s Matt Miller reports.
5. World’s Largest Floating Crane Arrives in New York
Feb. 27 (Bloomberg) -- The world’s largest floating crane, the Left Coast Lifter, has arrived in New York to work on the $3.9 billion bridge that will replace the Tappan Zee.
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