Most Read on Bloomberg: Wall Street Frat Ties, Dakota Tax Gambit
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. Secret Handshakes Greet Frat Brothers as Wall Street Women Trail
Dec. 23 (Bloomberg) -- Conor Hails, head of the University of Pennsylvania’s Sigma Chi chapter, was in a Philadelphia hotel ballroom last month for a Barclays Plc recruiting reception. A friend pointed out a banker from their fraternity. Hails, 20, approached with a secret handshake.
2. South Dakota Address Helps Richest Shelter Wealth Forever: Taxes
Dec. 27 (Bloomberg) -- Among the nation’s billionaires, one of the most sought-after pieces of real estate right now is a quiet storefront in Sioux Falls, South Dakota.
3. Global Stocks Climb to 6-Year High on IMF; Natural Gas Climbs
Dec. 23 (Bloomberg) -- Global stocks rallied to the highest level in almost six years as Apple Inc. jumped and the International Monetary Fund indicated it would raise its outlook for the American economy.
4. Treasury Yields Reach 2-Year High While Euro Rallies, Oil Gains
Dec. 27 (Bloomberg) -- Ten-year Treasury yields reached the highest level in more than two years on speculation the Federal Reserve will keep reducing stimulus as the economy recovers. The euro rallied and oil topped $100 a barrel for the first time since October, while U.S. stocks were little changed.
5. Weinstein European Bet Said to Spur Second Losing Year for Saba
Dec. 24 (Bloomberg) -- Boaz Weinstein’s Saba Capital Management LP is headed for its second losing year in a row, hurt in part by a wager that European equities would rise more than high-yield credit, according to four people with knowledge of the hedge-fund firm.
6. UPS Gift Shipping Delays Show Perils of Overpromising
Dec. 26 (Bloomberg) -- The failure of United Parcel Service Inc. and FedEx Corp. to deliver packages in time for Christmas has exposed the perils of retailers promising to get last-minute gifts to customers.
7. JPMorgan Boosts Banker Pay as Morgan Stanley Adds Cash, WSJ Says
Dec. 24 (Bloomberg) -- JPMorgan Chase & Co. plans to boost bonuses for investment bankers while Morgan Stanley increases the cash portion of year-end payouts, the Wall Street Journal reported, citing unidentified people familiar with the plans.
8. Apple Reaches China Mobile Deal for IPhone in Biggest Market
Dec. 23 (Bloomberg) -- Apple Inc., ending six years of negotiations, struck a deal to sell the iPhone through China Mobile Ltd., giving both companies a means to fight declining share in the market of 1.2 billion wireless subscribers.
9. Wall Street’s Failed Dollar Call Redoubled on Fed: Currencies
Dec. 23 (Bloomberg) -- After wrongly calling for the dollar to strengthen against the euro this year, Wall Street strategists are making the recommendation again for 2014.
10. ‘Duck Dynasty’ Dad Puts $500 Million at Risk With Gay-Sin Talk
Dec. 24 (Bloomberg) -- The “Duck Dynasty” family and cable television’s A&E have lots of reasons to resolve the controversy sparked by patriarch Phil Robertson’s comments about gays: almost $500 million in fact.
1. Five Lessons of 2013, Guaranteed to Be Forgotten: Caroline Baum
Dec. 26 (Bloomberg) -- It’s that time of year when journalists let their creativity run rampant to produce 10-Best and 10-Worst lists, revisit the year’s biggest whoppers (look no further than the Oval Office), and offer prognostications for the coming year. With that in mind, I’ve gleaned the five most important lessons from 2013, which are all but guaranteed to be forgotten next year.
2. Abe and Xi Swam Naked With Warren Buffett in 2013: William Pesek
Dec. 24 (Bloomberg) -- It’s only when the tide goes out, as Warren Buffett famously said, that you learn who’s been swimming naked. Well, 2013 has been a banner year for skinny-dipping among Asian leaders, central banks and business people.
3. U.S. Scores Gains in War on Cultural Turpitude: Albert R. Hunt
Dec. 23 (Bloomberg) -- The U.S. political system is dysfunctional and the economy is still struggling, especially for those in the middle and working classes. But when it comes to the biggest concern of some experts a generation ago -- the decay of our culture -- there is evidence that the country is doing all right.
4. Obama’s Unpardonable Record on Issuing Pardons: Walter Olson
Dec. 22 (Bloomberg) -- In the same news cycle Russian President Vladimir Putin said he would free more than 20,000 inmates from his country’s prisons, President Barack Obama announced a rather less grand gesture of clemency. He commuted the sentences of eight people convicted of crack-cocaine offenses -- all of whom have served at least 15 years -- and used his pardon power to erase the criminal records of 13 miscellaneous ex-offenders.
5. Two of the Most Underplayed Stories of 2013: Stephen L. Carter
Dec. 26 (Bloomberg) -- As we await the dawning of the new year, I would like to look back on a pair of stories that received less coverage than they should have during 2013. Although different, each raises profound questions about our future. I don’t claim that these are the most important stories, or that nobody noticed them at all -- only that we should be paying more attention, and should ponder their implications, both in the year to come and in the decades beyond.
1. Khodorkovsky on Prison Life, Rosneft’s Sechin, BP Move Dec. 24
Dec. 24 (Bloomberg) -- Mikhail Khodorkovsky, the former oil tycoon who was freed after 10 years in a Russian prison, talks about comments made by Igor Sechin, the chief executive officer of OAO Rosneft, and Rosneft’s $55 billion takeover of BP Plc’s Russian joint venture, TNK-BP. BP, which now owns 20 percent of Rosneft, acted within the boundaries of the law in taking some ownership in a company built on Yukos Oil Co.’s expropriated assets, said Khodorkovsky. He also discusses his time in prison in his interview with Bloomberg’s Ryan Chilcote. (Source: Bloomberg)
2. ‘Duck Dynasty’ Reign Could Be Coming to an End Dec. 20
Dec. 20 (Bloomberg) –- Bloomberg’s Paul Sweeney discusses the controversy over A&E’s “Duck Dynasty.” He speaks with Emily Chang on Bloomberg Television’s “Bloomberg West.” (Source: Bloomberg)
3. Canada Ice Storm Leaves 500,000 Homes Without Power
Dec. 23 (Bloomberg) -- Repair crews are working around the clock to restore electricity to about 500,000 households in Ontario and Quebec after an ice storm snapped branches, brought down power lines and crimped travel in Canada’s two most populous provinces. (Source: APTN)
4. Vuitton Jibe Shows Even Rich Balk at Luxury Prices
Dec. 23 (Bloomberg) -- Rapper Kanye West told a U.S. radio show recently that Vuitton’s prices are “just too extreme.” The criticism by West, who has collaborated with the Paris-based label on products including a range of $1,000 sneakers, is a signal some luxury companies may be charging too much, turning off even the wealthiest clients. Caroline Hyde has more on Bloomberg Television’s “Countdown.” (Source: Bloomberg)
5. IMF Sees ‘Stronger’ U.S. Economic Outlook, Lagarde Says
Dec. 22 (Bloomberg) -- International Monetary Fund Managing Director Christine Lagarde speaks on NBC’s “Meet the Press” about the outlook for the U.S. economy. (Excerpt. Source: NBC)
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