Most Read on Bloomberg: Fed Taper Begins, More Trader-Chat BansAudrey Barker
The following list comprises the of the most-read stories.
**Lists are based on daily statistics through Dec. 31
Dec. 18 (Bloomberg) -- The Federal Reserve is trimming its monthly bond purchases to $75 billion from $85 billion, taking the first step toward unwinding the unprecedented stimulus that Chairman Ben S. Bernanke put in place to help the economy recover from the worst recession since the 1930s.
2. Volcker Rule Ushers in Era of Increased Oversight of Trades
Dec. 10 (Bloomberg) -- Wall Street faces more intensive government scrutiny of trading after U.S. regulators issued what they billed as a strict Volcker rule today, imposing new curbs designed to prevent financial blowups while leaving many details to be worked out later.
Dec. 18 (Bloomberg) -- Eighty-seven-year-old Lew Manchester has just returned from a three-week trip touring Buddhist temples in Laos and cruising the Mekong Delta in Vietnam. His 61-year-old daughter Lee lives year-round in the basement of her friend’s Cape Cod cottage, venturing into the winter cold to get to the bathroom.
Dec. 18 (Bloomberg) -- JPMorgan Chase & Co. and Deutsche Bank AG are cracking down on multitrader chat rooms amid investigations into currency manipulation.
Dec. 18 (Bloomberg) -- U.S. stocks surged, sending benchmark indexes to record highs, while Treasuries fell as the Federal Reserve expressed enough confidence in the labor market to taper asset purchases while still promising to hold interest rates close to zero. Commodities and the dollar advanced.
Dec. 11 (Bloomberg) -- Wall Street banks avoided their worst fears of the Volcker rule after regulators crafted the ban on speculative trading to leave market-making operations intact.
Dec. 3 (Bloomberg) -- U.S. stocks fell a third day amid concern an improving economy will cause the Federal Reserve to reduce monetary stimulus, while 10-year Treasuries advanced as the central bank bought debt. The pound climbed to near a two-year high against the dollar and crude oil surged.
Dec. 10 (Bloomberg) -- Morgan Stanley is seeing an “acute” battle for equity traders after rising to the top spot in revenue last quarter, said Colm Kelleher, head of the firm’s investment bank and trading division.
Dec. 11 (Bloomberg) -- U.S. stocks fell the most in a month and Treasuries dropped on speculation the budget agreement will make the Federal Reserve more confident to reduce stimulus. Gasoline and oil slid while the yen and euro strengthened.
Dec. 17 (Bloomberg) -- Sheldon Adelson makes no secret of his disdain for the estate tax.
Dec. 30 (Bloomberg) -- The U.S., polarized politically and splintered socially, is about to experience one of its few widely shared moments: the professional football playoffs.
Dec. 31 (Bloomberg) -- As we head into 2014, one thing is clear about the outlook for Asia: No one really has a clue what’s in store for this increasingly eclectic, cacophonous and unpredictable region.
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.
Dec. 11 (Bloomberg) -- Back in 1999, after the notorious con man Martin Frankel went missing, federal agents found a partially burned to-do list at his mansion in Greenwich, Connecticut. Item No. 1 on the list: “Launder money.”
Dec. 3 (Bloomberg) -- While we’re still in the season, let’s give thanks to Mike DeWine, a former U.S. senator who has made good in his second life as the attorney general of Ohio.
Dec. 5 (Bloomberg) -- European Central Bank President Mario Draghi speaks at a news conference in Frankfurt about the decision to keep the ECB’s benchmark interest rate unchanged at a record low 0.25 percent, inflation expectations and economic growth forecasts. ECB Vice President Vitor Constancio also speaks. (Source: European Central Bank)
Dec. 18 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke speaks about policy makers’ decision to cut the Fed’s monthly bond purchases to $75 billion from $85 billion, the outlook for policy and the U.S. economy. Bernanke speaks at a news conference after a meeting of the Fed’s policy-setting Federal Open Market Committee in Washington. (Video difficulties at the event site. Source: Bloomberg)
Dec. 18 (Bloomberg) -- Lee Manchester, a 61-year-old former mid-level manager and entrepreneur who lost two jobs in the aftermath of the financial crisis, talks about how she downsized and is living with a friend on Cape Cod. Like many baby boomers, she is less secure financially and prepared for retirement than her father, who’s 87. For the first time in generations, the next wave of retirees will probably be worse off than the current elderly. Manchester speaks at the cottage she shares in Wellfleet, Massachussetts. (Source: Bloomberg)
Dec. 2 (Bloomberg) -- Pittsburgh Steelers coach Mike Tomlin is seen being fined at least $100,000 for stepping on the field and interfering with play in the team’s game against Baltimore on Nov. 28, ESPN reported, citing a person familiar with the situation. Ravens kick returner Jacoby Jones had to slow down when he was running alone with the ball down the sideline because Tomlin had a foot on the playing field. Jones ended up getting tackled on the play. Baltimore won the game, 22-20. (Source: NBC/NFL)
Dec. 18 (Bloomberg) -- The Federal Reserve is cutting its monthly bond purchases to $75 billion from $85 billion, taking the first step toward unwinding the unprecedented stimulus that Chairman Ben S. Bernanke put in place to help the economy recover. Bloomberg’s Peter Cook reports. (Source: Bloomberg)