July 20 (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, July 18.
1. Obama Says Malaysian Jet Downed From Rebel-Held Area in Ukraine
July 18 (Bloomberg) -- President Barack Obama said the U.S. has concluded that a surface-to-air missile launched from insurgent-held territory in eastern Ukraine brought down a Malaysia Air jetliner, killing all 298 people on board.
2. S&P 500 Tumbles, Bonds Rally as Geopolitical Tension Escalates
July 17 (Bloomberg) -- The Standard & Poor’s 500 Index fell the most in three months, while Treasuries rallied with gold as demand for haven assets rose amid escalating tension in Ukraine and the Middle East. Sanctions against Russia intended to curb violence sent European markets lower.
3. MORE: Malaysia Airlines Boeing 777 Crashed in Ukraine: IFX
July 17 (Bloomberg) -- Passenger jet was bound for Kuala Lumpur from Amsterdam, Interfax reports, citing unidentified Ukrainian law-enforcement official.
4. Yellen Says Weak Job Market Shows U.S. Still Needs Stimulus
July 15 (Bloomberg) -- Federal Reserve Chair Janet Yellen told lawmakers the central bank must press on with record monetary stimulus to combat persistent job-market weakness.
5. Cynk Trader Says Short Squeeze Cost Job After SEC Lethargy
July 15 (Bloomberg) -- A Wall Street trader said Cynk Technology Corp.’s 36,000 percent stock surge cost him his job, and he blames a short squeeze and regulators who didn’t halt the shares before the company’s value shot past $6 billion.
6. Goldman Posts Surprise Profit Gain on Trading, Deal Revenue
July 15 (Bloomberg) -- Goldman Sachs Group Inc. reported a surprise increase in second-quarter profit as fixed-income revenue fell less than many analysts projected and investment-banking fees rose.
7. Murdoch Said Open to Offer More Than $75 Billion for Time Warner
July 17 (Bloomberg) -- Twenty-First Century Fox Inc. is willing to pay more than $75 billion for Time Warner Inc., according to people with knowledge of the matter, a sign Rupert Murdoch is undeterred after being rebuffed in an initial offer for the media company. Time Warner shares soared.
8. Secret Path Revealed for China Billions Buying Pricey Homes
July 14 (Bloomberg) -- For years, wealthy Chinese have been transferring billions worth of their money overseas, snapping up pricey real estate in markets including New York, Sydney and Vancouver despite their country’s currency restrictions.
9. U.S. Stocks Rebound on Google Results, Bonds Fall as Crises Ease
July 18 (Bloomberg) -- The Standard & Poor’s 500 Index rebounded from its biggest loss in three months, as sales that topped analyst estimates at Google Inc., the world’s third-largest company, refocused investors on economic growth amid crises in the Middle East and Ukraine. Treasuries dropped with gold.
10. Espirito Slumps as Rioforte Said to Seek Creditor Protection
July 15 (Bloomberg) -- Rioforte Investments SA, a holding company for Portugal’s Banco Espirito Santo SA, plans to file for protection from creditors, according to a person familiar with the matter.
1. Citigroup Mortgage Trader Sent a $7 Billion E-Mail: Matt Levine
July 14 (Bloomberg View) -- Back before everything was thrown into confusion by the capture of the alleged mastermind of the Benghazi attack, Citigroup and the Justice Department argued over how much money Citi should pay for having securitized a bunch of terrible mortgages. The bid-ask spread was wide; it was also strangely specific:
2. Malaysian Airliner Crash Should End Ukraine War: Marc Champion
July 17 (Bloomberg View) -- Whether or not the Ukrainian Interior Ministry’s claim that pro-Russia separatists shot down a Malaysia Airlines passenger jet over Eastern Ukraine today proves true, the tragedy should be the catalyst to end this manufactured conflict.
3. ‘Transformers’ Rape Joke Gets Even Less Funny: Stephen L. Carter
July 14 (Bloomberg View) -- In a post a couple of weeks ago on the fourth installment of the “Transformers” film franchise, I complained -- as have many others -- about the relationship between the protagonist’s 17-year-old daughter, Tessa, and her 20-year-old boyfriend, Shane. I was among those disturbed that Shane carried a laminated copy of the Texas “Romeo and Juliet” laws, lest he be charged with statutory rape.
4. Dumbest Chart Ever Calls an End to Bull Market: Barry Ritholtz
July 17 (Bloomberg View) -- Yesterday morning, we learned of Rupert Murdoch’s bid for Time Warner for as much as $85 dollar a share, or more than $75 billion. Soon after, the annotated chart below showing the Standard & Poor’s 500 Index began circulating on trading desks and websites, suggesting Murdoch’s offer signaled a market top.
5. What Yellen Can’t Tell Congress About Rates: Mohamed A. El-Erian
July 15 (Bloomberg View) -- Some major questions stand out as Federal Reserve Chair Janet Yellen heads to Capitol Hill this week for her semi-annual testimony to Congress: particularly, when should the Fed start raising interest rates, and are its unconventional stimulus efforts contributing to a financial bubble?
1. Yellen Says Easing Needed Amid Jobs Slack (Statement)
July 15 (Bloomberg) -- Federal Reserve Chair Janet Yellen testifies before the Senate Banking Committee in Washington about the outlook for the U.S. economy and monetary policy.
2. Yellen Testifies on Fed Policy, U.S. Economy (Part 1)
July 16 (Bloomberg) – Federal Reserve Chair Janet Yellen speaks about the U.S. economy and Fed policy.
3. Derek Jeter’s MLB Farewell Sparks Star-Studded Ad
July 14 (Bloomberg) -- Various celebrities, including Tiger Woods and Michael Jordan, tip their hat to New York Yankees shortstop Derek Jeter in this tribute commercial from Nike Inc.’s Jordan Brand.
4. California Shop Restores Retired 911s Like New
July 16 (Bloomberg) –- The work coming out of Singer Vehicle Design has been described as “a love letter to the 911.” This small shop in California brings new life to these timeless classics, with a focus on restoring and optimizing the air-cooled Porsche 911. Creative Director and former rock star Rob Dickinson talks about the meticulous craftsmanship that goes into each redesign.
5. Malaysian Plane Shot Down Near Russian Border
July 17 (Bloomberg) -- Ukrainian rebels shot down a Malaysian jet carrying 295 people over eastern Ukraine near its border with Russia, a Ukrainian Interior Ministry official said.
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