The most-read Bloomberg News reports from the past week are listed below. The rankings are based on daily statistics through May 21.
See READSUMS for previous lists.
1. Deutsche Bank May Punish Staff for Personal Trade With Firm
(Bloomberg) -- Deutsche Bank AG halted bonus payments to a group of employees while examining whether they improperly traded with the firm.
2. EgyptAir Mystery Deepens as Greece Says Wreckage Isn’t From Jet
(Bloomberg) -- The disappearance of an EgyptAir jetliner carrying 66 people over the Mediterranean Sea triggered a massive search for evidence amid concern that a deliberate act may have knocked the plane from the sky.
3. U.S. Stocks Tumble With Bonds on Fed Rates Rhetoric as Oil Rises
(Bloomberg) -- U.S. stocks retreated and the Treasury yield curve flattened to the narrowest since 2007 amid growing speculation that the Federal Reserve views economic growth as being firm enough to justify raising interest rates as soon as June.
4. U.S. Stocks Rise Amid Buffett’s Apple Bet, Oil Rally; Bonds Slip
(Bloomberg) -- U.S. equities climbed as Warren Buffett’s bet on Apple Inc. sent the iPhone maker’s shares rallying, while crude oil’s surge to a six-month high amid speculation a supply glut has eased boosted commodity-producer shares around the world.
5. Dollar Jumps as Fed Minutes Boost June Hike Odds; Bonds Retreat
(Bloomberg) -- The dollar rallied and Treasuries plunged after minutes of the Federal Reserve’s last meeting showed officials discussed raising rates as early as June. U.S. stocks fluctuated before ending little changed.
6. Berkshire’s Apple Bet Suggests Faith in Product Pipeline
(Bloomberg) -- Given all the pessimism about Apple Inc. these days, one might wonder why Warren Buffett’s Berkshire Hathaway Inc. is betting $1.1 billion on the company. But if sentiment on Wall Street is any guide, the Oracle of Omaha and his lieutenants have made a prescient play.
7. The Commodity That No One Knows About But Everybody Wants to Buy
(Bloomberg) -- The world’s mines and steel plants got so devalued during the commodity slump that some were just given away by owners struggling to cut losses or debt. But there’s at least one metal that’s been attracting a lot of attention.
8. Bonuses for Traders, Hedge Fund Managers Seen Falling in ‘16
(Bloomberg) -- Bonus pools could decline by as much as 20 percent for some Wall Street workers this year, with incentive pay falling at almost every type of financial-services firm, according to compensation consultant Johnson Associates Inc.
9. BofA Called ‘Bro’s Club’ in Female Director’s Bias Suit
(Bloomberg) -- Bank of America Corp. was sued by a managing director who says that beneath the “veneer of a world-class financial institution,” the company treats women in her position like “second-class citizens” and pays them substantially less than their male counterparts.
10. Most Fed Officials Saw June Hike Likely If Economy Warrants
(Bloomberg) -- Federal Reserve policy makers indicated that a June interest-rate increase was likely if the economy continued to improve, boosting market expectations they will act next month.
1. I Hate My IPhone, and I’m Not Alone: Brooke Sample & Shira Ovide
(Bloomberg View) -- I have an iConfession: I hate my iPhone.
2. The Skills Schools Aren’t Teaching But Must: Bloomberg & Dimon
(Bloomberg View) -- The U.S. presidential campaign has focused a great deal on the need to expand economic opportunity, but candidates in both parties have not said enough about how they would achieve it. While helping more students go to college has been a topic of discussion and is a vitally important goal, what about those who do not go -- or who drop out of high school? They are largely being ignored, as they have been for decades, by an education system that is stuck in the past. That must change.
3. Trump’s Financial Report? That’s Rich.: Timothy L. O’Brien
(Bloomberg View) -- Donald Trump has once again made his income and wealth objects of fascination and confusion in the 2016 presidential race -- this time, by filing an updated personal financial disclosure form with the Federal Election Commission.
4. 5 Quick Takeaways from the Fed Minutes: Mohamed A. El-Erian
(Bloomberg View) -- Investors’ interest in theminutes of the April 26-27 Federal Reserve meeting that were released Wednesday increased notably after some central bank officials suggested earlier that markets may be underestimating the probability of an interest rate increase as early as this summer. The Fed did not disappoint.
5. Hedge Fund Bosses Make Too Much? Get Used to It: Noah Smith
(Bloomberg View) -- Hedge funds are back in the headlines, thanks mainly to the release of Institutional Investor’s Alpha magazine annual report on the earnings of top hedge fund owners and managers. The Hedge Fund Rich List includes such well-known luminaries as Citadel’s Ken Griffin, Bridgewater’s Ray Dalio and Renaissance Technologies’ Jim Simons. Together, the top 25 are reported to have taken home about $13 billion last year.
1. Fed’s Dudley Speaks About Economy, Monetary Policy
(Bloomberg) -- Federal Reserve Bank of New York President William Dudley speaks about the U.S. economy and monetary policy. Dudley and New York Fed Assistant Vice President Robert Rich speak at a news conference in New York.
2. Larry Fink: We All Have to Be Worried About China’s Debt
(Bloomberg) -- Larry Fink, BlackRock’s chairman and chief executive officer, comments on infrastructure investment and the state of China’s economy during an interview with Bloomberg’s Angie Lau at BlackRock’s annual Asia Wealth Symposium in Hong Kong.
3. Kganyago Speaks on Decision to Hold South African Rates
(Bloomberg) -- South African Reserve Bank Governor Lesetja Kganyago speaks at a news conference in Pretoria about the central bank’s decision to leave its key rate at 7 percent, even as it sees inflation expectations at uncomfortably high levels.
4. Fed’s Lockhart, Williams on Rate Hike Outlook, Economy
(Bloomberg) -- Federal Reserve Bank of Atlanta President Dennis Lockhart and Fed Bank of San Francisco President John Williams speak about the outlook for rate increases, monetary policy and the U.S. economy. They speak with Politico’s Ben White at an event hosted by Politico in Washington.
5. Massive Diamond From Sub-Arctic Ice to Hit Auction Block
(Bloomberg) -- Even in the world of rare stones, Foxfire is a freak. It was buried in a place where big gem-quality diamonds aren’t supposed to exist. A Rio Tinto Group ore processor was configured to discard it. And what saved the diamond’s 187.7 carats from being pulverized was a fluke: Its unusual, elongated shape allowed it to slip sideways through a filtering screen.
--With assistance from Anny Kuo in New York.