The ruble weakened the most in a month and stocks retreated after Russia said it planned to buy foreign currency and U.S. lawmakers passed a bill for more sanctions. Bonds dropped as the government sold fewer bonds than offered at its first auction in five weeks.
Goldman Sachs Group Inc., which earned a third of its profit from trading last year, moved Guy Saidenberg from head of global foreign-exchange trading to allow JPMorgan Chase & Co.’s Kayhan Mirza to assume the job.
JPMorgan Chase & Co. and directors including Chief Executive Officer Jamie Dimon were sued by an investor for creating “a culture of lawlessness” that led to billions of dollars in settlements tied to mortgage-backed securities and Bernard Madoff’s Ponzi scheme.
Bank of America Corp., Citigroup Inc. and Credit Suisse Group AG were among 16 of the world’s biggest banks sued by the U.S. Federal Deposit Insurance Corp. for allegedly manipulating the London interbank offered rate from 2007 to 2011.
Jamie Dimon was talking about the business climate, not the polar vortex that gripped much of the U.S. this winter, when he mentioned “weather” in a discussion about a slump in trading revenue at JPMorgan Chase & Co.