The following list comprises the most-read Bloomberg News reports from the past week.
1. Millennial Bankers Reap Raises as BofA, Goldman Fight Defections
Aug. 21 (Bloomberg) -- A new generation of Wall Street bankers is about to get a raise, as firms open wallets to head off defections to investment funds and Silicon Valley.
2. Goldman Said to Boost Salaries for Junior Staff by About 20%
Aug. 20 (Bloomberg) -- Goldman Sachs Group Inc., which cut the portion of revenue set aside for pay the past two years, will increase 2015 salaries for junior employees in the U.S. by about 20 percent, according to a person briefed on the decision.
3. Hook-Up Culture at Harvard, Stanford Wanes Amid Assault Alarm
Aug. 21 (Bloomberg) -- As former social chair of the Sigma Chi fraternity at Harvard University, Malik Gill wants to appear especially welcoming to girls who come to the house for parties.
4. Yellen Riding U.S. Recovery Veers From Draghi as Europe Sputters
Aug. 23 (Bloomberg) -- The world’s two most powerful central bankers are nearing a transatlantic gap in monetary policy as the Federal Reserve debates raising interest rates while the European Central Bank signals more stimulus.
5. S&P 500 Advances While Treasuries, Gold Drop Amid Ukraine Crisis
Aug. 18 (Bloomberg) -- The Standard & Poor’s 500 Index rose the most in a week, while crude oil and bonds slipped as diplomats from Ukraine and Russia discussed a possible truce and Kurdish forces made progress against militants in Iraq.
6. Monaco $400 Million Penthouse Lures Secrecy Migrant: Real Estate
Aug. 19 (Bloomberg) -- Monaco, the tax haven on the French Riviera, is experiencing a luxury-housing boom that includes the world’s most expensive penthouse as developers prepare for an influx of millionaires and billionaires escaping higher taxes or a loss of banking privacy.
7. Argentine Bonds Fall on Fernandez Plan to Offer Local-Law Swap
Aug. 20 (Bloomberg) -- Argentina’s bonds sank to a two-month low after the government said it plans to pay foreign-currency notes locally to sidestep a U.S. court ruling that blocked payments and caused its second default in 13 years.
8. Most Dangerous Day of Life Is Birth as 1 Million Babies Die
Aug. 18 (Bloomberg) -- The woman hung up her phone and delivered a baby into her yellow and orange skirt so quietly it almost escaped the nurses’ notice.
9. Corey Griffin, Ex-Bain Capital Manager in ALS Drive, Dies at 27
Aug. 19 (Bloomberg) -- Corey Griffin, a former Bain Capital LLC manager who raised more than $100,000 for the ALS Association in the past week through the Ice Bucket Challenge, was killed in a diving accident. He was 27.
10. BofA’s Montag Becomes Sole COO, Darnell Seeks Florida Move
Aug. 19 (Bloomberg) -- Bank of America Corp.’s Thomas K. Montag, the lender’s top-paid senior manager, will become sole chief operating officer as co-COO David Darnell takes a new title so he can move to Florida.
1. Why Are Bonds and Stocks Acting Strangely?: Mohamed A. El-Erian
Aug. 18 (Bloomberg View) -- The past week saw a dynamic in financial markets that, not long ago, would have been deemed quite unusual: Prices of all kinds of assets, from safe government bonds to risky stocks, rose together. German bunds and U.S. Treasuries gained, pushing yields lower, as the Standard & Poor’s 500 Index approached its all-time high.
2. London Won’t Be ‘Most Influential’ Long: Mark Gilbert
Aug. 18 (Bloomberg View) -- London is the world’s most influential city, according to a study reproduced in Forbes magazine. As a resident of the British capital for a quarter of a century, that’s both flattering and a little worrisome. Moreover, the ranking presages a very different world order in the years ahead.
3. What James Foley Murder Says About Islamic State: Marc Champion
Aug. 20 (Bloomberg View) -- The beheading of U.S. freelance photographer James Foley, now confirmed by U.S. officials, recalls the similarly gruesome murder of Wall Street Journal reporter Daniel Pearl in 2002. It should act as a reminder, too, that Islamic State began as al-Qaeda in Iraq and differs from Pearl’s killers only in tactics.
4. Why You Should Care About Jackson Hole 2014: Mohamed A. El-Erian
Aug. 19 (Bloomberg View) -- Central bankers, a group of largely independent technocrats, wield more power over the fates of politicians, investors and regular folk than ever before. In the absence of government action, they are bearing most of the burden of supporting economic recoveries in the U.S. and Europe. With their bond purchases and other unconventional policies, they have become a major force holding up financial markets around the world.
5. Watertown Golf Course Is Great Place for Stock Tips: Matt Levine
Aug. 18 (Bloomberg View) -- Today the Securities and Exchange Commission and the U.S. Attorney for Massachusetts brought insider trading charges against two men who allegedly shared inside information when they played together on the same co-ed softball team. No, of course I’m kidding, come on, they were golf buddies. They’re always golf buddies!
1. The $15 Million Stealth Warship the Military Doesn’t Own
Aug. 21 (Bloomberg) –- Self-made millionaire Gregory Sancoff spent the past decade, and millions of his own money, designing and building the Ghost, a technologically innovative combat boat. But there is no guarantee the government will buy in once the Ghost is complete.
2. RBA Governor Stevens Testifies Before Economics Committee
3. Most Dangerous Day of Life Is Birth in Africa
Aug. 18 (Bloomberg) -- Last year, 289,000 women worldwide died giving life and about 1 million newborns didn’t survive their first day amid a dearth of high-quality, skilled maternity care.
4. Pimco’s McCulley Discusses Federal Reserve Policy, Inflation
Aug. 18 (Bloomberg) -- Pacific Investment Management Co. Chief Economist Paul McCulley discusses the Federal Reserve and inflation.
5. Pimco’s Clarida Discusses Economic Growth, ‘New Neutral’
Aug. 19 (Bloomberg) -- Richard Clarida, global strategic adviser at Pacific Investment Management Co., says economic growth globally will be converging toward lower, yet more stable top speeds and central bank interest rates will remain stuck below their pre-crisis equilibrium in a “new neutral.”