It was a fire and ice decade that changed everything on Wall Street. It started with animal spirits left for dead by the financial crisis. Now it's set to finish with stocks near records, volatility vanquished and the credit supercycle on steroids. Here's how it all happened. What you'll want to read this weekend Boeing's new CEO faces a daunting task to get the 737 Max back into the skies and restore the company's tarnished standing. New issues surfaced this week: pilot training become its own profit center, and a new batch of documents portrayed a "very disturbing picture" about the 737 Max from employees.
The world richest keep getting richer. The 500 wealthiest billionaires on Earth added $1.2 trillion to their fortunes in 2019, boosting their collective net worth 25% to $5.9 trillion. Jeff Bezos lost the most, dropping $9 billion after divorcing his ex-wife MacKenzie. He's still the richest person in the world. Clemson football wins on the field, but can't compete on profit. The team, which plays in the Peach Bowl on Saturday, earned just $7.5 million in 2018. The changes in drinking habits over the past decade will probably continue into the 2020s. Watch for craft spirits and low-alcohol tipple to gain popularity as beer fizzles out. There were some really bad bond bets in the 2010s, and not just big names like WeWork or Neiman Marcus. Remember the Mozambican Tuna fleet, with its surprise anti-pirate gunboats? What you'll need to know next week What you'll want to read in Businessweek "Its ambition is to become indispensable," Businessweek wrote in its first issue in 1929. A few weeks later the stock market crashed, and the Great Depression set in. From World War II to WeWork, the magazine has been born anew every seven days. Photographer: Alan Levenson Photographer: Alan Levenson Like Bloomberg's Weekend Reading? Subscribe to Bloomberg.com. You'll get our unmatched global news coverage and two premium daily newsletters, The Bloomberg Open and The Bloomberg Close, and much, much more. See our limited-time introductory offer. Sign up for the Bloomberg Recession Tracker: Bloomberg Economics crunches the numbers every month using our proprietary model to reveal the probability of a downturn over the next year. We'll deliver an updated assessment of all relevant indicators, directly to your inbox. This free newsletter includes analysis showing whether recession risk is increasing or decreasing, with comparisons to the past month's performance as well as previous recessions. Sign up here. Download the Bloomberg app: It's available for iOS and Android. Before it's here, it's on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can't find anywhere else. Learn more. |
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