The following list comprises the most-read Bloomberg News reports from the past week.
1. Morgan Stanley Gets 90,000 Applications for Summer Program
June 24 (Bloomberg) -- Morgan Stanley, owner of the world’s largest brokerage, received about 90,000 applications for its summer program for analysts and associates.
2. U.S. Economy Shrank in First Quarter by Most in Five Years
3. Citigroup’s Raytcheva Survives Volcker Rule as Prop Trader
June 25 (Bloomberg) -- Anna Raytcheva’s mortgage-bond bet for Citigroup Inc. lost billions of dollars as the financial crisis raged. Now, amid new rules meant to curb banks’ risky trading, she’s gambling again.
4. Paulson’s Puerto Rico Paradise Lures Rich Fleeing U.S. Taxes
June 26 (Bloomberg) -- It’s 2 a.m. at La Factoria in Puerto Rico’s Old San Juan, a hipster joint with a sagging couch, tile floors and Christmas lights that wouldn’t be out of place in Brooklyn’s Williamsburg. While “Get Lucky” plays, tipsy couples slink out the doors onto the colonial city’s cobblestone streets into this warm April night.
5. U.S. Stocks Slump as Treasuries Climb With Brent Crude on Iraq
June 24 (Bloomberg) -- U.S. stocks fell, reversing earlier gains, and Treasuries advanced amid concern over escalating violence in Iraq as investors gauged the strength of the global economy. Oil held near the highest levels since September.
6. Bond Market Has $900 Billion Mom-and-Pop Problem When Rates Rise
June 23 (Bloomberg) -- It’s never been easier for individuals to enter some of the most esoteric debt markets. Wall Street’s biggest firms are worried that it’ll be just as simple for them to leave.
7. Ghana Soccer Stars Await $3 Million Plane Before Key Match
June 25 (Bloomberg) -- Ghana’s Black Stars soccer team were awaiting the arrival of a plane with $3 million promised by the government as compensation for playing in the World Cup in Brazil, in the run-up to a match that may send them home.
8. Barclays’s Culture Shift Falters as U.S. Suit Cites Deceit
June 27 (Bloomberg) -- Antony Jenkins, promoted to run Barclays Plc after the Libor scandal, pledged to overhaul the bank’s culture, committing to values of integrity and respect. Allegations of fraud on his watch are undermining his plan.
9. Barclays Clients Shun Dark Pool as CEO Vows Urgent Investigation
June 26 (Bloomberg) -- Money managers and brokers shunned Barclays Plc’s dark pool, and Chief Executive Officer Antony Jenkins pledged an urgent inquiry, after the bank was accused of lying to clients about high-frequency trading on the venue.
10. Dark Pool Greed Drove Barclays to Lie to Clients, N.Y. Says
June 25 (Bloomberg) -- Barclays Plc was so bent on lifting its private trading venue to the upper ranks of Wall Street dark pools that it lied to customers and masked the role of high-frequency traders, according to New York’s attorney general.
1. Fortune’s ‘Death of Hong Kong’ Call Looks Good: William Pesek
June 23 (Bloomberg View) -- Perhaps rumors of Hong Kong’s demise weren’t exaggerated after all.
June 23 (Bloomberg View) -- England suffered a very public humiliation last week when it exited early from the World Cup, and with other parts of the U.K. failing to qualify for the tournament it’s easy to forget that Britain punches above its economic, financial and political weight in most regional and global forums.
3. A Trio of Economic Problems Haunting Europe: Mohamed A. El-Erian
June 24 (Bloomberg View) -- There is a specter haunting Europe: a trio of economic problems that threaten the continent’s prosperity and social stability, all of which revolve around the notion of the “One Percent.”
June 23 (Bloomberg View) -- To the uninitiated, Russia’s World Cup defeat by Belgium may look absurd. Russia is 13 times more populous than Belgium, its soccer league has vastly greater financial resources and it is coached by the most expensive manager in the tournament, Italian Fabio Capello. The reason Russia lost has less to do with soccer than with free-market economics, of which President Vladimir Putin’s regime has no concept.
5. Soccer Star Suarez Bites the Land That Feeds Him: Mac Margolis
June 25 (Bloomberg View) -- In soccer, as in politics, passions can easily get out of hand. Not least in the World Cup, where national honor and glory are on the line and 3 billion people are watching. So it’s tempting to wave off Uruguayan striker Luis Suarez’s attack -- he bit a defender on the shoulder in the goal zone -- in his team’s match against Italy on Tuesday as one of those boys-will-be-boys moments. But since soccer has always been more than a sport, the star scorer of La Celeste – “the sky-blue one,” as the team is known -- left teeth marks on more than the beautiful game.
1. BOE’s Carney Says Housing ‘Biggest’ Risk to Economy
June 26 (Bloomberg) -- Bank of England Governor Mark Carney speaks at a news conference in England about the U.K. housing market and the introduction of measures to limit riskier mortgages that may lead to an unsustainable buildup of consumer debt.
2. Carney Sees Scope to Absorb More Slack Before Rate Rise
June 24 (Bloomberg) -- Bank of England Governor Mark Carney testifies before lawmakers of the U.K. Parliament’s Treasury Committee in London about spare capacity in the U.K. economy, interest rates, the labor market and productivity.
3. The Biggest Over and Under Achievers in the 2014 World Cup
June 20 (Bloomberg) -- On today’s “Single BestChart,” Scarlet Fu and Eric Chemi examine the over and under achieving teams playing in the 2014 World Cup.
4. Comlux America Gives Private Jets $90 Million Makeover
June 25 (Bloomberg) –- From mahogany to marble, most luxury interior designers have access to an unlimited selection of high quality materials to satisfy their clients needs; but when designing private jet interiors, where weight becomes a major factor, designers have to get very creative.
5. Curved TV: State of the Art or Just Another Gimmick?
June 26 (Bloomberg) -- With the World Cup in full swing, you surely want to watch the games on the biggest TVs with the highest definition. Companies like Sony and Samsung are trying to push a new feature: “the curve.”
To contact the reporter on this story: Audrey Barker in New York at firstname.lastname@example.org