June 15 (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, June 13.
1. Credit Suisse Said to Mull Selling More of Fixed-Income Unit
June 9 (Bloomberg) -- Credit Suisse Group AG, Switzerland’s second-biggest bank, is considering selling additional stakes in an electronic interest-rates trading unit it set up last year, according to a person briefed on the plan.
2. Billionaire’s Son Goes From Mopping Floor to LeBron James’s Boss
June 10 (Bloomberg) -- The Arisons strolled the River Walk prior to the 1996 National Basketball Association All-Star Game in San Antonio, where Micky, the billionaire owner of the Miami Heat, became convinced that his son had the passion needed to govern the team.
3. Goldman Sachs Shuns ‘New Neutral’ After Doubting ‘New Normal’
June 10 (Bloomberg) -- Goldman Sachs Group Inc. didn’t buy the “new normal” and it’s not rushing to embrace the “new neutral” either.
4. How $170,000 in Options Spurred $450 Million Clorox Stock Rally
June 12 (Bloomberg) -- Just before 1 p.m. on June 9, 5,700 options tied to Clorox Co. were bought on U.S. markets for about $170,000. Traders snapped up the underlying stock and within half an hour, more than $450 million had been added to the bleachmaker’s shares.
5. Fed Prepares to Keep Record Balance Sheet for Years: Economy
June 11 (Bloomberg) -- Federal Reserve officials, concerned that selling bonds from their $4.3 trillion portfolio could crush the U.S. recovery, are preparing to keep their balance sheet close to record levels for years.
6. BlackRock Hires Harvard’s McKenna to Start Event-Driven Fund
June 11 (Bloomberg) -- BlackRock Inc. hired Harvard Management Co.’s Mark McKenna to start an event-driven hedge fund as the world’s largest asset manager seeks to expand its alternative-investment business.
7. U.S. Stocks Fall on Economy as Treasuries Pare Gain; Wheat Falls
June 11 (Bloomberg) -- U.S. stocks fell the most in three weeks along with European equities as the World Bank cut its global growth forecast. Treasuries pared gains after a 10-year notes auction while wheat entered a bear market.
8. Venezuela Prostitutes Take in More Selling Dollars Than Sex
June 9 (Bloomberg) -- The arrival of a Liberian-flagged freighter with Ukrainian, Arab and Filipino sailors spells one thing for Elena -- dollars. And greenbacks are king in Venezuela, the 32-year-old prostitute says.
9. London Top Firms Pay 37% More in Banker Bonuses, Survey Says
June 11 (Bloomberg) -- London’s investment bankers at firms including Bank of America Corp., Deutsche Bank AG and Goldman Sachs Group Inc. get bonuses 37 percent higher than counterparts at smaller firms, according to Emolument.com.
10. U.S. Stocks Fall While Oil Climbs on Iraq Conflict; Bonds Rally
June 12 (Bloomberg) -- U.S. stocks slumped the most in three weeks and oil climbed to an eight-month high as violence escalated across Iraq. Treasuries rallied on signs the U.S. economic recovery remains uneven.
1. What If the Fed Has Created a New Bubble?: Mohamed A. El-Erian
June 10 (Bloomberg View) -- Investors might be surprised to learn that they have a lot riding on something that they pay very little attention to: macro-prudential regulation, or what central banks and other government agencies do to reduce the risk of systemic financial disasters.
2. England’s World Cup Decline Is Good for Its Economy: Mervyn King
June 8 (Bloomberg View) -- In England, soccer loyalty is to club rather than country. For more than 50 years, I have watched and supported Aston Villa, one of the most famous, if not the most successful, clubs in the world. During that half century, there have been many ups and downs. And the same could be said of the British economy.
3. Michael Jordan Becomes the Air Billionaire: Kavitha A. Davidson
June 13 (Bloomberg View) -- Move over, Dr. Dre.
4. Why Deutsche Bank Is Right to Raise Capital: Mohamed A. El-Erian
June 11 (Bloomberg View) -- The efforts of European banking giant Deutsche Bank AG to shore up its finances by raising equity capital have triggered various reactions, from speculation about upcoming regulatory fines to anger from shareholders worried that their stakes will be diluted.
5. What Penalty for Inaccurate Pundits?: Barry Ritholtz
June 11 (Bloomberg View) -- Five years ago, Arthur Laffer - - creator of the Laffer curve and a member of President Ronald Reagan’s Economic Policy Advisory Board from 1981-89 -- wrote an op-ed article. It was a grab bag of his pet peeves: opposition to Federal Reserve policies in response to the financial crisis and concern about the “unfunded liabilities of federal programs,” including Social Security and Medicare. And, of course, he decried deficits, which in large part are the result of his thesis that tax cuts often increase revenue. As it turns out, for the most part, they don’t.
1. Kuroda Says Japan Economy Recovering Moderately
June 13 (Bloomberg) -- Bank of Japan Governor Haruhiko Kuroda talks about policy and the nation’s economy at a press briefing in Tokyo.
2. Blankfein on Economy, Financial Industry, Energy: Charlie Rose
June 11 (Bloomberg) – Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein talks with Charlie Rose about the financial industry, U.S. energy policy and the global economy.
3. Why Nike Doesn’t Care That Ronaldo Is No Air Jordan
June 11 (Bloomberg) -- Nike Inc. and Adidas AG are rolling out new looks for their cleats around the World Cup in Brazil.
4. Stock Market Sentiment ‘A Little Frothy,’ Sonders Says
June 10 (Bloomberg) -- Liz Ann Sonders, chief investment strategist at Charles Schwab Corp., talks about financial markets, investment strategy and the outlook for U.S. housing.
5. Brazil Scrambles to Be Match Ready for World Cup Kickoff
June 9 (Bloomberg) -- Brazil has spent billions to prepare for the biggest sporting event on the planet but with the opening kickoff of the World Cup just days away, the country isn’t ready.
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