Oct. 6 (Bloomberg) -- The following list comprises the most-read Bloomberg News reports from the past week.
To read any article, click on the story links shown below or go to READ 1W <GO>. See NI READSUMS <GO> for previous lists of the most-read stories. Lists are based on daily statistics through Friday, Oct. 4.
1. First U.S. Shutdown in 17 Years Unavoidable With No Talks
Sept. 30 (Bloomberg) -- The U.S. government stands poised for its first partial shutdown in 17 years at midnight tonight, after a weekend with no signs of negotiations or compromise from the Congress or the White House.
2. Government Shutdown Begins as Congress Divides on Spending
Oct. 1 (Bloomberg) -- The U.S. government began its first partial shutdown in 17 years, idling as many as 800,000 federal employees, closing national parks and halting some services after Congress failed to break a partisan deadlock by a midnight deadline.
3. Goldman Said to Make $1.5 Million Error in Ford Bond Issue
Oct. 3 (Bloomberg) -- Goldman Sachs Group Inc. mistakenly added about $1.5 million of interest costs to a Ford Motor Co. bond sale last week by using the wrong Treasury note as a benchmark for the security, according to two people with knowledge of the transaction.
4. Global Stocks Drop, Treasuries Gain as Government Shutdown Looms
Sept. 30 (Bloomberg) -- Global stocks fell the most in a month, trimming the biggest quarterly advance since the start of 2012, before a potential U.S. government shutdown. Treasuries pared early gains while crude oil slid to the lowest level in three months.
5. Schwarzman Says Selling BlackRock in 1994 Was ‘Heroic’ Error
Sept. 30 (Bloomberg) -- Blackstone Group LP’s Steve Schwarzman said his decision 19 years ago to sell what would become the world’s largest money manager was a “heroic” mistake.
6. Stocks Climb as Treasuries, Commodities Fall Amid U.S. Shutdown
Oct. 1 (Bloomberg) -- Stocks rebounded from yesterday’s slide as investors speculated the economic effects from the shutdown of the U.S. government will be limited and counteracted by Federal Reserve stimulus. Treasuries fell as gold tumbled and the dollar recovered from early losses.
7. Stocks Drop on U.S. Government Shutdown as Yen, Treasuries Gain
Oct. 2 (Bloomberg) -- Stocks slid around the world and gold rallied as the U.S. government shutdown entered a second day and a report showed American employers added fewer jobs than forecast. The dollar fell, while the yen and Treasuries rose.
8. Seaport Agrees to Merge With Global Hunter to Build Boutique
Sept. 30 (Bloomberg) -- Seaport Group LLC, the credit-market brokerage founded in 2001, agreed to merge with boutique investment bank Global Hunter Securities LLC to create a full-service firm with more than 300 employees.
9. Debt Ceiling Wall of Worry Is Another Reason for Investing
Oct. 1 (Bloomberg) -- The U.S. congressional standoff that shut down the government for the first time in 17 years is a buying opportunity for stock investors, if history is any guide.
10. Broncos’ Point Spread Against Jaguars Seen Being NFL Record
Oct. 1 (Bloomberg) -- Peyton Manning’s record-setting start to the season -- 16 touchdown passes as the Denver Broncos have marched to 4-0 -- has oddsmakers eyeing what may be the highest point spread in National Football League history.
1. JPMorgan’s Big Mistake Was Valuing Trades: William D. Cohan
Sept. 30 (Bloomberg) -- In the end, what have we learned from JPMorgan Chase & Co.’s $7.1 billion “London Whale” trading debacle? For those who have lost track, the derivatives trades resulted in losses of $6.2 billion plus an additional $920 million in fines -- so far.
2. Steve Jobs Never Worried About Debt Ceiling: Caroline Baum
Oct. 3 (Bloomberg) -- Everyone knows, or has heard the cliche, that markets hate uncertainty. It’s also a given that the future is always uncertain. How, then, do markets ever manage to function -- or, for that matter, businesses, which must make decisions today about investments that will pay off in the future?
3. As Party Splinters, Boehner’s Leadership Collapses: Ezra Klein
Oct. 3 (Bloomberg) -- We’re used to brinkmanship in Washington resulting from conflict between Democrats and Republicans. But this shutdown is different. It’s a fight between Republicans and Republicans -- or, more specifically, Republicans and the Tea Party.
4. Worried About Cancer? Ask Someone to Marry You: Virginia Postrel
Sept. 30 (Bloomberg) -- When I mentioned my bout with breast cancer to a new acquaintance, his first question was, “Are you married?”
5. Republicans Aren’t Crazy for Fighting Obamacare: Ramesh Ponnuru
Sept. 30 (Bloomberg) -- For many supporters of the Patient Protection and Affordable Care Act, continued resistance to the law isn’t just mistaken. It’s downright pathological.
1. Draghi Says ECB Ready to Act to Control Money Markets
Oct. 2 (Bloomberg) -- European Central Bank President Mario Draghi speaks at a news conference in Paris about euro-area inflation, money-market rates, economic activity and the process of an asset-quality review.
2. Bitcoin Price Swings as Startups Draw Regulators’ Glare
Oct. 3 (Bloomberg) -- Bitcoin, the digital currency, has gained prominence this year for its wild price swings and for piquing the interest of regulators from New York to Germany. Bloomberg’s Stephanie Baker reports.
3. Italy’s Letta Urges Lawmakers to Seize the Moment
Oct. 2 (Bloomberg) -- Italian Prime Minister Enrico Letta addresses lawmakers in the Senate in Rome seeking their support to save his government in a confidence vote. (This report is in Italian.)
4. Cruise the Med on a Super-Yacht for $444,000 Per Week
Sept. 30 (Bloomberg) -- Bloomberg Television takes a trip from Nice to Monaco in the Mediterranean Sea on a super-yacht that costs $444,000 a week to rent.
5. The Million Dollar Cars of Christian Von Koenigsegg
Sept. 27 (Bloomberg) -- Bloomberg’s Joel Weber reports on the rare, million dollar cars of Christian Von Koenigsegg. He speaks with Deirdre Bolton on Bloomberg Television’s “Money Moves.”
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