David Scheer

Goldman Criticized by Judge on Kinder Morgan Deal Conflicts

Goldman Sachs Group Inc. was rebuked by Delaware Chancery Court Judge Leo Strine for “incomplete and inadequate” handling of a conflict of interest, less than 14 months after the bank finished examining its business practices.

National Bank of Canada Profit Rises on Consumer Banking

National Bank of Canada, the country’s sixth-largest bank, said profit climbed 3.1 percent to a record as it posted higher earnings from consumer banking. The bank was the fourth Canadian lender this quarter to top analyst estimates.

GM Chooses Wells Fargo to Finance Auto Sales in Western U.S.

General Motors Co. chose Wells Fargo & Co. to provide financing to Chevrolet, Buick, GMC and Cadillac dealers and retail customers in GM’s U.S. West marketing region, including California.

Royal Bank of Canada, Toronto-Dominion Tops Estimates

Royal Bank of Canada and Toronto- Dominion Bank, the country’s two biggest banks, raised their dividends after reporting profits that topped analysts’ estimates on record earnings from consumer lending.

Piper Jaffray Says It Will Remain Independent After Report on Buyout Talks

Piper Jaffray Cos., the investment bank and asset manager founded in 1895, said it’s staying independent after Mergermarket reported takeover talks with a Chinese securities firm.

Massachusetts’s Galvin Seeks Bank Rule to Push No-Fee Checking

Massachusetts’s top securities regulator said he is seeking legislation to bar firms such as Bank of America Corp. from holding state deposits unless they offer customers free basic checking accounts.

BTG Pactual Files for Brazil Initial Offering After $1.5 Billion Takeovers

Banco BTG Pactual SA, the Brazilian bank led by billionaire Andre Esteves, plans to sell new and existing shares in an initial public offering after pursuing about $1.5 billion of acquisitions in the past five months.

Goldman Sachs to Buy Ariel Reinsurance’s Bermuda-Based Business

Goldman Sachs Group Inc., the fifth- biggest U.S. bank by assets, agreed to buy Ariel Holdings Ltd.’s Bermuda-based insurance and reinsurance businesses to expand property and casualty coverage.

Toronto-Dominion First-Quarter Profit Falls on Litigation Costs in Florida

Toronto-Dominion Bank, Canada’s second-largest bank, said profit declined for the first time in more than a year after it recorded litigation costs related to a Ponzi scheme in Florida. The lender boosted its quarterly dividend 5.9 percent.

Credit Suisse U.S. Stock-Trading Head DeSalvo Leaves, Trading Desks Merge

Matthew DeSalvo, who ran Credit Suisse Group AG’s top-ranked stock sales and trading unit in the U.S., left the firm this week as the company merged the business with electronic trading.

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Oceans Acidifying Fastest in 300 Million Years Due to Emissions

European Stocks Rise as Yen Falls

Asian Job Growth Withstanding Europe Seen Limiting Policy Easing: Economy

Barclays Takes €8.2 Billion of ECB Money

Life as Libor Traders Knew It Seen as Abusive