The following list comprises the most-read Bloomberg News reports from the past week.
1. BofA Tumbles After Stress-Test Error Halts Dividend Increase
April 28 (Bloomberg) -- Bank of America Corp. fell the most since November 2012 after suspending plans for a dividend increase and $4 billion of share repurchases because of an error in its stress-test submission to the Federal Reserve.
2. Credit Suisse, BNP Paribas U.S. Charges Said to Be Weighed
April 30 (Bloomberg) -- Credit Suisse Group AG and BNP Paribas SA are at risk of being criminally charged by U.S. and state prosecutors, a person familiar with the matter said, signaling that authorities are taking a tougher approach as they seek to resolve probes of major banks.
3. Hiring Moves to High Gear as U.S. Joblessness Falls: Economy
May 2 (Bloomberg) -- America’s job-creation machine kicked into higher gear in April as employers boosted payrolls by the most in two years and the jobless rate plunged to the lowest since the collapse of Lehman Brothers.
4. U.S. Stocks Rise as Selloff Fades While Bonds Retreat Before Fed
April 28 (Bloomberg) -- U.S. stocks rose, with the Standard & Poor’s 500 Index erasing an earlier slide as a selloff in Internet and smaller companies abated amid optimism over deal activity. Treasuries declined for the first time in a week before Federal Reserve policy makers meet tomorrow.
5. Tom DeMark Says U.S. Stocks at Risk of 11% Drop as Market Peaks
May 2 (Bloomberg) -- U.S. stocks will fall 11 percent starting as soon as next week should some price patterns come true, according to Tom DeMark, the creator of indicators to show turning points in securities.
6. Growth Freezes Up as U.S. Business Spending Slumps: Economy
April 30 (Bloomberg) -- The harsh winter sent a chill through the U.S. economy in the first quarter as slumps in business investment and home construction stalled growth.
7. Pfizer Still Wants AstraZeneca as $98.7 Billion Bid Rejected
April 28 (Bloomberg) -- Pfizer Inc. is back in the megamerger game.
8. Fed to Keep Reducing Stimulus as Economy Shakes Off Winter Stall
May 1 (Bloomberg) -- The Federal Reserve said it will keep reducing the pace of bond purchases as the economy shakes off the winter doldrums, putting the central bank on a course to end the unprecedented stimulus program by the close of 2014.
9. Barclays Said to Create ‘Bad Bank’ Run by Eric Bommensath
April 30 (Bloomberg) -- Barclays Plc is planning to move its commodities division into a so-called bad bank of unwanted assets and units to be overseen by Eric Bommensath, according to a person familiar with the plan.
10. NBA Bans Clippers Owner Sterling for Life for Racist Remarks
April 29 (Bloomberg) -- The National Basketball Association banned Los Angeles Clippers owner Donald Sterling for life and fined him $2.5 million for making racist remarks, the first time an owner was suspended in 14 years.
1. What’s Up With Charlie Munger’s Other Business?: Jonathan Weil
April 28 (Bloomberg View) -- New York Times columnist Joe Nocera threw a well-deserved dart at Warren Buffett the other day for failing to practice what he has preached at Coca-Cola Co., where Berkshire Hathaway Inc. is the largest shareholder and his son, Howard Buffett, is a director.
2. Your Phone May Not Have the Right to Remain Silent: Noah Feldman
April 29 (Bloomberg View) -- Big Brother would have loved your smartphone. It not only knows where you’ve been and who’s in touch with you but also records your photos, texts, e-mails and social media exchanges. Linked to the cloud, it allows access to your entire digital lifespan, including financial and medical records.
April 29 (Bloomberg View) -- I’m just writing this column to tell Bill Ackman and Carl Icahn: I forgive you.
4. Credit Suisse or BNP Might Plead Guilty. So What?: Jonathan Weil
April 30 (Bloomberg View) -- A funny thing happened to Credit Suisse Group AG’s stock price this morning after the New York Times reported that federal prosecutors are thinking about charging the company criminally: practically nothing.
5. Wall Street’s Overlords Always Win in Arbitration: William Cohan
April 27 (Bloomberg View) -- Larry Stone is just your typical wealthy businessman who trusted millions of his hard-earned dollars to Colin P. Gordon, a hedge-fund manager at the now defunct Bear Stearns, and then lost most of those millions when the hedge fund crashed and burned in 2007.
1. BOJ’s Kuroda Says Halfway to 2% Inflation Goal
( Kuroda speaks in Japanese.)
2. NBA’s Silver Says Clippers’ Sterling Suspended for Life
April 29 (Bloomberg) -- National Basketball Association Commissioner Adam Silver talks about his decision to impose a lifetime ban on Los Angeles Clippers owner Donald Sterling for racist comments made by Sterling.
3. World’s Largest Flying Machine: The $40 Million Airlander
April 30 (Bloomberg) –- The Airlander is a 300-foot-long super blimp with a top speed of 100 miles per hour. The U.S. Army spent $300 million to develop the combination plane, airship, helicopter, hovercraft before running out of funding. Now, the British company that designed it is giving the flying machine new life.
4. Buffett’s No. 1 Fan Ryan Morris Lives Like the Oracle
May 1 (Bloomberg) –- Warren Buffett’s annual Berkshire Hathaway shareholders’ meeting attracts tens of thousands of investors to Omaha to take part in what has been dubbed “The Woodstock of Capitalism.” To many, Buffett is a paragon of the virtues of capitalism, and they seek to follow his example in their own lives. Ryan Morris, the 29 year-old president of Meson Capital, started reading Buffett when he was 12 years old, and has followed his example ever since.
5. Yellen Says Fed Examining Oversight of Community Banks
May 1 (Bloomberg) -- Federal Reserve Chair Janet Yellen talks about the Fed’s supervision of community banks and financial regulation.
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