The following list comprises the most-read Bloomberg News reports from the past week.
1. Stocks Slide on Europe Debt Turmoil as Treasuries, Gold Advance
July 10 (Bloomberg) -- Stocks from U.S. to Europe slid as increasing concern over signs of financial stress in Portugal sent investors seeking safety in Treasuries, the yen and gold.
2. Espirito Santo Creditors Doubt Containment on Missed Payment
July 10 (Bloomberg) -- Central bank assurances that Portugal’s Banco Espirito Santo SA is protected after a parent company missed short-term debt payments are failing to ease creditor concern they may also suffer losses.
3. Bond Anxiety in $1.6 Trillion Repo Market as Failures Soar
July 7 (Bloomberg) -- In the relative calm that is the market for U.S. Treasuries, a sense of unease over a vital cog in the financial system’s plumbing is beginning to rise.
4. Espirito Santo Lifts Lid on Group Exposure on Market Turmoil
July 11 (Bloomberg) -- Banco Espirito Santo SA sought to reassure investors by revealing its exposure to related companies after a missed payment on short-term debt by a member of the Portuguese group roiled global markets.
5. U.S. Stocks Retreat as Nasdaq Composite Tumbles; Bonds Advance
July 8 (Bloomberg) -- U.S. stock retreated, with the Nasdaq Composite Index sliding the most in two months, as concern grew that equities have rallied too far too fast amid an uneven global economic recovery. European shares fell for a third day, while Treasuries gained.
6. Your Teen Could Make $6,000 a Month Interning at Facebook: Tech
July 8 (Bloomberg) -- Facebook Inc. rolled out the red carpet for Michael Sayman when the social network hired him for a job that started last month, including flying him out to meet Chief Executive Officer Mark Zuckerberg.
7. U.S. Stocks Fall as Small Caps Tumble While Commodities Decline
July 7 (Bloomberg) -- U.S. stocks dropped from a record, with small-cap companies tumbling the most in two months, as analysts brought forward estimates for the Federal Reserve to raise interest rates. Commodities slumped as natural gas and metals retreated.
8. U.S. Stocks Rise, Bonds Erase Losses as Earnings Overshadow Fed
July 9 (Bloomberg) -- U.S. stocks rebounded from a two-day selloff as optimism over corporate earnings overshadowed central bank concerns that investors may be growing too complacent about the economic outlook. Treasuries erased losses, while gold advanced and oil and corn slumped.
9. Retiree Says Herbalife Shakes Cost $30,000 in Life Savings
July 7 (Bloomberg) -- Miguel Calderon is a retired construction worker with a sixth-grade education. He says an Herbalife Ltd. distributor tricked him into squandering $30,000 in life savings on weight-loss shakes.
10. Longer-Term Treasuries Rise as Jobs Growth Doesn’t Sway Fed View
July 7 (Bloomberg) -- Longer-term Treasuries rose, pushing 10-and 30-year yields lower amid speculation an uptick in inflation and acceleration in the U.S. job market won’t be enough to pressure the Federal Reserve into raising rates soon.
1. Deeb the Conqueror Bares His Soul Before His Mama: Michael Lewis
July 7 (Bloomberg View) -- Bloomberg News reporter Michael Moore was recently given a brief, tantalizing glimpse of transcripts from the case against Goldman Sachs brought by one of its former mortgage traders, Deeb Salem. Though he had been paid $35 million over six years in his job, Salem argued on Feb. 25 before a Finra panel that, back in 2010, he had been cheated out of millions by Goldman.
2. Janet Yellen Lays Out Her Policy Blueprint: Mohamed A. El-Erian
July 7 (Bloomberg View) -- Over the weekend, I reread remarks that U.S. Federal Reserve chair Janet Yellen made last week at the International Monetary Fund and also read the transcript of her conversation with Christine Lagarde, the International Monetary Fund’s managing director.
July 9 (Bloomberg View) -- Brazil is about to show the world how sports can influence the national mood, politics and markets. The country’s devastating loss to Germany in the World Cup semifinals will weigh heavily on its leaders -- and, as a result, has the potential to end up being good for its economy and markets.
4. How Poker’s Newest Champ Is Alienating His Peers: James McManus
July 7 (Bloomberg View) -- Is Daniel Colman, poker’s new heavyweight champion, an adolescent narcissist, happy to take people’s money on the felt but unwilling to help improve poker’s image as a game of skill or a vehicle for philanthropy? Or is he an anti-huckster hero amid a swarm of endorsement-happy pros, greedy tournament presenters and the journalists who fawn over them?
5. Germany’s Triumph in Brazil Was No Surprise: Leonid Bershidsky
July 9 (Bloomberg View) -- Germans are having a hard time believing what happened Tuesday night in Brazil. Sure, they are celebrating their country’s 7:1 win over the home favorites in a World Cup semifinal -- street musicians on Berlin’s S-Bahn are playing “for the German champions” today -- but newspaper headlines speak of incredulity rather than sheer joy.
1. Tesla Eager to Study Stolen Model S Split in Crash
July 7 (Bloomberg) -- A Tesla Motors Inc. Model S split in half and burned after a high-speed chase and collision in Los Angeles on July 4.
2. Indian Finance Minister Presents Modi’s First Budget
July 10 (Bloomberg) -- Indian Finance Minister Arun Jaitley delivers Prime Minister Narendra Modi’s first budget in New Delhi. Modi’s two-month-old government kept India’s budget deficit target unchanged despite concerns that oil and food prices will rise in a push to bolster the finances of Asia’s third-biggest economy.
3. Brazilians Seek Solace, Germans Cheer World Cup Victory
July 8 (Bloomberg) –- Brazilian and German soccer fans react to their teams’ performance in the World Cup.
4. Hintz Says Wall Street Won’t Get ‘Mojo’ Back Quickly
July 9 (Bloomberg) -- Analyst Brad Hintz, who is leaving Sanford C. Bernstein & Co. to teach at New York University, talks about the outlook for the financial industry and investment strategy.
5. World’s Largest Private Tank Fleet Up For Auction
July 7 (Bloomberg) –- On July 11, a portion of the world’s largest private collection of tanks and historic military vehicles will be up for auction. Former Silicon Valley engineer Jacques Littlefield bought his first tanks in the 1980s and had acquired more than 200 vehicles by the time of his death in 2009. Sam Grobart shows off several that are on the block.