The Volcker Rule, which curbs risk- taking by banks by imposing restrictions on speculating with their own money, excludes collateralized loan obligations that don’t hold assets other than loans, according to the Loan Syndications & Trading Association.
A Glencore International Plc trader fired over an alleged alcohol problem can’t sue the company to recover a share award worth about $1 million, that were awarded when he was hired, a U.K. court ruled.
Chevron Corp. , the second-largest U.S. oil company, will pay holders of Atlas Energy Inc . an additional 10 cents a share to settle litigation when its $3.59 billion purchase of the natural-gas producer is completed.
LaBranche & Co. , the broker-dealer that sold its market-maker operations on the New York Stock Exchange earlier this year, has closed its credit trading business as banks underwrite more leveraged loans, according to people familiar with the decision.