Most Read on Bloomberg: U.S. Bank Payouts, Stocks, Asiana Crash
The following list comprises the most-read Bloomberg News reports from the past week.
1. U.S. Banks Seen Freezing Payouts Under Harsh Leverage Rule
July 10 (Bloomberg) -- The biggest U.S. banks, after years of building equity, may continue hoarding profits instead of boosting dividends as they face stricter capital rules than foreign competitors.
2. S&P 500 Rises to Record Close While Dollar Weakens on Bernanke
July 11 (Bloomberg) -- Stocks surged, with the Standard & Poor’s 500 Index climbing to its highest closing level ever, and metals gained as the dollar slid after Federal Reserve Chairman Ben S. Bernanke called for maintaining monetary stimulus.
3. Asiana Pilots Flying Slowly Reacted Too Late to Avoid Crash
July 8 (Bloomberg) -- The Asiana Airlines Inc. (020560) Boeing Co. 777 that crashed while landing in San Francisco had slowed to almost 40 miles an hour below its target speed before hitting a seawall short of the runway, a U.S. investigator said.
4. Bernanke Supports Pressing On With Stimulus Amid QE Debate
July 11 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke called for maintaining accommodation even as the minutes of policy makers’ June meeting showed them debating whether to stop bond buying by the Fed in 2013.
5. JPMorgan Profit Climbs as Trading Gains Outweigh Mortgage Drop
July 12 (Bloomberg) -- JPMorgan Chase & Co., the largest U.S. bank by assets, reported second-quarter profit that beat analysts’ estimates as higher revenue from investment banking and trading overcame a drop in fees from mortgage lending.
6. Many on Fed Awaiting More Job Gains Before Tapering QE: Economy
July 10 (Bloomberg) -- Many Federal Reserve officials want to see more signs employment is picking up before they’ll begin scaling back $85 billion in monthly bond purchases, according to minutes of policy makers’ meeting last month.
7. Stocks Rise in U.S., Europe as Natural Gas Leads Commodity Gains
July 8 (Bloomberg) -- U.S. stocks rose for a third day as investors awaited the start of second-quarter earnings season and euro-area finance ministers approved aid for Greece. European equities recovered from a July 5 slide, while shares and currencies in Asia declined.
8. U.S. Boosts Capital Demands on Banks Above Global Standards
July 9 (Bloomberg) -- Capital standards at the biggest U.S. lenders would rise to 5 percent of assets for parent companies and 6 percent for their banking units under a proposal by regulators to bolster financial firms.
9. REITs Slump 20% Fueling Worst Bond Losses Since ’94: Mortgages
July 10 (Bloomberg) -- Annaly Capital Management Inc.’s Wellington Denahan, head of the largest mortgage real-estate investment trust, told investors less than three months ago that reports REITs could threaten U.S. financial stability were as misleading as the media frenzy over shark attacks in 2001.
10. China Seen Blowing Vietnam-Sized Hole in 2013 Credit: Economy
July 8 (Bloomberg) -- China’s money-market cash squeeze is likely to reduce credit growth this year by 750 billion yuan ($122 billion), an amount equivalent to the size of Vietnam’s economy, according to a Bloomberg News survey.
1. Young White Women, Killing Themselves by Tanning: Peter Orszag
July 10 (Bloomberg) -- Despite the hoopla over dysfunction in Washington, the government can still do useful things. To prove it, the Food and Drug Administration should move aggressively to implement and then strengthen its proposed cancer warnings about tanning beds.
2. The True Confessions of a Chinese Shadow Banker: Joe Zhang
July 9 (Bloomberg) -- In the fall of 2010, as deputy head of China investment banking at UBS AG, I spoke to a group of wealthy investors in Beijing about the outlook for Chinese stocks. A rumpled, 50-something man from Hangzhou named Wang Zhigang pulled me aside afterward and asked for my advice about investing. Until then, he had made his money through curbside lending, not stocks. But, he lamented, his returns had dropped from more than 30 percent a year to a mere 23 percent. He worried about his personal fortune, which he had built up from nothing to almost 3 billion yuan (about $445 million back then).
3. Colleges Encourage Families to Spend, Not Save: Richard Vedder
July 8 (Bloomberg) -- Believe it or not, Americans used to save about one-tenth of their after-tax income. By the 1990s, that percentage had dropped to less than 5 percent, and from 2003 to 2012 the average savings rate had fallen even further.
4. Why We Underestimate Risk by Omitting Time Factor: Mark Buchanan
July 8 (Bloomberg) -- Suppose I offer you a simple gamble. Throw a dice: If you get a six, you win $10; if not, you lose $1. The loss is more likely; the win brings more money. Willing to play?
5. Wall Street Spin Machine Mobilizes for Corzine: William D. Cohan
July 8 (Bloomberg) -- The highly compensated Wall Street spin machine never ceases to amaze me. Case in point: defending the indefensible Jon S. Corzine. As soon as the Commodity Futures Trading Commission sued the embattled former chairman and chief executive officer of MF Global Inc., the now liquidated brokerage, the spinmeisters mobilized.
1. Bernanke Sees High Accommodation for Foreseeable Future
July 10 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke speaks about the central bank’s policies and the U.S. economy.
2. Rex Ryan Runs With the Bulls in Annual Pamplona Race
July 9 (Bloomberg) -- Several thousand people, including New York Jets coach Rex Ryan, dashed alongside fighting bulls in the Spanish city of Pamplona on Sunday, the first day of the running of the bulls. Only four people were treated for injuries and no one was gored, officials said.
3. Asiana Airlines Flight 214’s Path Before Fatal Crash
July 8 (Bloomberg) -- Cory Johnson reports on the path of Asiana Airlines Inc.’s Flight 214 that crash-landed at San Francisco International Airport on Saturday, killing two of the 307 people on board the Boeing Co. 777.
4. ABC’s Virtual Simulation of Asiana Jetliner Crash
July 7 (Bloomberg) -- Based on witness accounts, ABC News created a virtual simulation of a crash of an Asiana jetliner yesterday in San Francisco. Two people were killed and 181 were taken to hospitals. The flight from Seoul carried 307 people.
5. ‘Human Factor’ May Be Focus of Asiana Study, Feith Says
July 8 (Bloomberg) -- Gregory Feith, an aviation consultant and former investigator for the National Transportation Safety Board, talks about the Asiana Airlines Inc. jetliner crash at San Francisco International Airport yesterday.
To contact the reporter on this story: Audrey Barker in New York at email@example.com