July 27 (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.
1. Goldman Managing Director Valtz Found Dead on Long Island
July 21 (Bloomberg) -- Nicholas Valtz, a managing director in cross-asset sales at Goldman Sachs Group Inc. in New York, was found dead yesterday by family members who went searching for him after he didn’t return from a kiteboarding outing.
2. Credit Suisse to Exit Commodities, Posts Biggest Loss Since 2008
July 22 (Bloomberg) -- Credit Suisse Group AG said it will abandon commodities trading as a $2.6 billion fine to settle a U.S. tax investigation pushed the Swiss bank to its biggest quarterly loss since 2008.
3. Russian Billionaires in ‘Horror’ as Putin Risks Isolation
July 21 (Bloomberg) -- Russia’s richest businessmen are increasingly frantic that President Vladimir Putin’s policies in Ukraine will lead to crippling sanctions and are too scared of reprisal to say so publicly, billionaires and analysts said.
4. Herbalife Gains as Ackman’s Presentation Fails to Convince
July 22 (Bloomberg) -- Herbalife Ltd.’s shares logged their biggest-ever gain, rising more than 25 percent after hedge-fund manager Bill Ackman failed to convince investors that the seller of weight-loss shakes is committing fraud.
5. Ex-Jefferies Managing Director Litvak Gets Two-Year Sentence
July 23 (Bloomberg) -- Ex-Jefferies & Co. Managing Director Jesse Litvak, deemed an “elite” fraudster by prosecutors for being the only person convicted of fraud over a $20 billion government bailout program, was sentenced to two years in prison for lying to customers about mortgage-backed securities.
6. Finance Industry Bonus Suffering in Poll as Revenue Disappoints
July 21 (Bloomberg) -- Almost half of all finance professionals expect bonuses to be smaller this year, if they get one at all, according to a Bloomberg Global Poll.
7. Apple Hints New Products Near With Bigger IPhones Looming
July 23 (Bloomberg) -- Apple Inc. signaled that the long wait for new products is nearing an end.
8. Citadel’s Ken Griffin Seeks Divorce After 11-Year Marriage
July 24 (Bloomberg) -- Kenneth C. Griffin, the billionaire founder of Chicago hedge-fund firm Citadel LLC, filed for divorce from his wife of 11 years citing “irreconcilable differences.”
9. Deutsche Bank Falls as N.Y. Fed Is Said to Fault Reports
July 23 (Bloomberg) -- Deutsche Bank AG, Europe’s largest investment bank, dropped in Frankfurt trading after the Federal Reserve Bank of New York was said to have faulted the regulatory reports of some of the firm’s U.S. businesses last year.
10. Bond Floors Empty as Waning Risk Appetite Adds to July Doldrum
July 22 (Bloomberg) -- It just doesn’t pay to try to be a superhero in the bond market right now.
1. Why I Flew to Israel Despite FAA Ban: Michael R. Bloomberg
July 23 (Bloomberg View) -- Just hours after the U.S. Federal Aviation Administration prohibited domestic airlines from flying to Israel this week, I boarded an El Al flight from John F. Kennedy International Airport in New York City to Ben-Gurion International Airport in Tel Aviv to express solidarity with the Israeli people and show the world that Israel’s airports remain open and safe.
2. In This Gaza War, the Truth Lies Underground: Jeffrey Goldberg
July 25 (Bloomberg View) -- Here is one of the more astonishing facts of an already fairly astonishing war: The tunnels that Hamas has dug under Gaza’s border with Israel -- tunnels designed not for commerce, but for kidnapping -- reportedly contain tranquilizers and handcuffs, seemingly meant to be used by Hamas terrorists to gain physical control over Israelis they’ve seized.
3. Inflation Truthers Trip Up Over a Math Problem: Barry Ritholt
July 21 (Bloomberg View) -- There is a group of folks who believe that inflation is much higher than the numbers in the official reports. Paul Krugman calls them “inflation truthers.”
4. RBS Takes Home Top Prize on National Bad Ideas Day: Mark Gilbert
July 23 (Bloomberg View) -- Royal Bank of Scotland, which trashed itself so badly during the financial crisis that the U.K. government had to take an 80 percent stake in the institution, has been less than honest with -- guess who? -- the U.K. government.
5. Druckenmiller’s Lesson Is Tune Out Fed: Mark Gilbert
July 23 (Bloomberg View) -- Last week, hedge-fund manager Stan Druckenmiller said that the Federal Reserve’s current policy “seems not only unnecessary, but fraught with unappreciated risk.” My takeaway from his warning, informed in part by what’s happened in the U.K. this year, is that investors should ignore the prognostications of policy makers at this confusing juncture in the economy and focus on the dull but more informative economic signals on growth and inflation.
1. Ackman Presents Results of His Herbalife Probe
July 22 (Bloomberg) -- Bill Ackman, chief executive officer of Pershing Square Capital Management LP, talks about the results of his company’s investigation into the business model of Herbalife Ltd.
2. Obama Says Putin Should Compel Separatists to Cooperate
July 21 (Bloomberg) -- U.S. President Barack Obama talks about the need for Russian President Vladimir Putin to compel separatists in Ukraine to allow international investigators to recover remains and collect evidence from the Malaysian airliner crash site.
3. Marc Faber Says Stocks in a ‘Bubble,’ Touts Gold
July 21 (Bloomberg) -- Marc Faber, publisher of the Gloom, Boom & Doom report, talks about his view that stocks are in a “bubble” and not a good value.
4. Cameron Says Told Putin ‘No More Bluster, Obfuscation’
July 21 (Bloomberg) -- U.K. Prime Minister David Cameron speaks in the House of Commons, London, about gaining access to the Malaysian Airlines flight 17 crash site, the European Union’s approach to further Russian sanctions and violence in the Gaza Strip.
5. Herbalife May Sue Bill Ackman, CFO Desimone Says
July 22 (Bloomberg) -- John Desimone, chief financial officer at Herbalife Ltd. talks about hedge-fund manager Bill Ackman’s allegations that the seller of weight-loss shakes is guilty of fraud.
To contact the reporter on this story: Audrey Barker in New York at firstname.lastname@example.org
To contact the editors responsible for this story: Alec D.B. McCabe at email@example.com Virginia Van Natta, Jim McDonald