The following list comprises the most-read Bloomberg News reports from the past week.
1. Citigroup Fails Fed Stress Test as BofA Gets Dividend Boost
March 27 (Bloomberg) -- Citigroup Inc.’s capital plan was among five that failed Federal Reserve stress tests, while Bank of America Corp. won approval for its first dividend increase since the financial crisis.
2. U.S. Stocks Drop on Economy, Ukraine Concern While Gold Sinks
March 24 (Bloomberg) -- U.S. stocks fell for a second day as a report showed slowing growth in manufacturing while European shares slid amid concern the Ukraine crisis may escalate. Gold had its biggest drop of the year.
3. Fraternity Chief Feared for Son as Hazings Spurred JPMorgan Snub
March 27 (Bloomberg) -- Early this month, JPMorgan Chase & Co. stopped managing an investment account for a prominent client: the charitable foundation of Sigma Alpha Epsilon, one of the U.S.’s largest fraternities.
4. U.S. Stocks Retreat on Obama Remarks as Treasuries, Oil Advance
March 26 (Bloomberg) -- U.S. stocks fell, erasing early gains, as President Barack Obama said international order is being tested by Russia’s annexation of Ukrainian territory. Treasuries rose following stronger-than-forecast demand at an auction. Oil and the yen rallied.
5. Malaysia Says Flight Ended in Indian Ocean as Hunt Goes On
March 24 (Bloomberg) -- Malaysia concluded that Flight 370 ended in the southern Indian Ocean with no hope of survivors, ruling out theories of a detour over Asia or an island landing, as the search for wreckage from the missing jetliner drags on.
6. UBS Said to Suspend Traders in New York, Zurich, Singapore
March 27 (Bloomberg) -- UBS AG suspended foreign-exchange traders in the U.S., Singapore and Switzerland as its investigation into the alleged rigging of currency markets widened, according to a person with knowledge of the matter.
7. Billionaire Prokhorov Heeds Putin by Moving Nets Stake to Russia
8. Banker Suicides Concern Industry as Coroners Investigate
March 24 (Bloomberg) -- Coroners in London are preparing to investigate two apparent suicides as unexpected deaths by finance workers around the world have raised concerns about mental health and stress levels in the industry.
9. JPMorgan Loses Potential Successor to Dimon as Cavanagh Departs
March 25 (Bloomberg) -- JPMorgan Chase & Co.’s Mike Cavanagh, who served as a close deputy to Chief Executive Officer Jamie Dimon for more than two decades, will leave to become co-chief operating officer of Carlyle Group LP.
10. Billionaires Buying Islands Off Australia Find Perilous Paradise
March 27 (Bloomberg) -- Billionaire William Han perches at the stern of Silver Fox II, his 20-meter powerboat, as it weaves through the kaleidoscopic coral wonderland that is Australia’s Great Barrier Reef.
March 27 (Bloomberg) -- There is so much to love about Ken Lewis’s $10 million settlement with the New York attorney general. For starters, the former Bank of America Corp. chief executive officer isn’t paying the $10 million. Bank of America is.
2. Seth Klarman Says Markets Are Too Bubbly: William D. Cohan
March 26 (Bloomberg) -- When Seth Klarman speaks, listen carefully.
3. Secret Service Party Animals Had Another Bash: Margaret Carlson
March 26 (Bloomberg) -- U.S. Secret Service agents used to have the inscrutability of guards at Buckingham Palace and the demeanor of Clint Eastwood in “In the Line of Fire.”
4. What Really Concerns China About Lost Flight 370?: William Pesek
March 25 (Bloomberg) -- Let’s acknowledge what’s obvious: The way Malaysia has handled the loss of Flight 370 has been pathetic. What’s less obvious is China’s role in this sorry spectacle.
5. Don’t These Banks Seem Too Small to Stress Over?: Jonathan Weil
March 24 (Bloomberg) -- Could the U.S. financial system really not survive the collapse of Zions Bancorporation?
1. Draghi Says ECB Easing Stance Becoming More Effective (Audio)
March 25 (Bloomberg) -- European Central Bank President Mario Draghi speaks in Paris about the impact of the ECB’s accommodative monetary policy stance on the euro-area economy and encouraging investment and competitiveness. (This report is an excerpt.)
2. Pawn Stars’ Negotiating Tip: Never Give the First Price (Video)
March 27 (Bloomberg) –- Rick Harrison, star of History Channel’s mega-hit “Pawn Stars,” knows a thing or two about negotiating a good price. He gave Bloomberg four tips on how to haggle like a master.
3. S. Africa’s Marcus Says Interest Rate Unchanged at 5.5% (Video)
March 27 (Bloomberg) -- South African Reserve Bank Governor Gill Marcus speaks at a news conference in Pretoria about the central bank’s decision to maintain the benchmark lending rate at 5.5 percent, inflationary pressures, growth outlook and the rand.
Monetary Policy Committee Members Lesetja Kganyago, Daniel Mminele, Rashad Cassim and Brian Kahn also speak.
4. Obama Says Energy ‘Central Focus’ of Russia Sanctions (Video)
March 26 (Bloomberg) -- U.S. President Barack Obama, European Commission President Jose Barroso and European Union President Herman Van Rompuy discuss EU-U.S. relations, sanctions against Russia and energy security.
They speak at a news conference following a meeting in Brussels.
5. RBA’s Stevens Sees Encouraging Signs of Growth Handover (Audio)
March 26 (Bloomberg) -- Reserve Bank of Australia Governor Glenn Stevens talks about the growth outlook for the nation and the global economy.
To contact the reporter on this story: Audrey Barker in New York at firstname.lastname@example.org