Five U.S. agencies will finish the Volcker rule today after more than three years of Wall Street resistance to its limits on trading and investing. Lawmakers and their allies who want to rein in big banks are ready to pounce if it isn’t strict enough.
Former Goldman Sachs Group Inc. trader Matthew Taylor was sentenced to nine months in prison for concealing an unauthorized $8.3 billion trading position in 2007 that caused the bank to lose $118 million.
Barclays Plc, the U.K.’s second- largest lender by assets, paid investment bankers bonuses “incapable of justification” as employees focused on revenue at the expense of clients, according to an internal report.
Shares of Canadian natural gas producers led by Peyto Exploration & Development Corp. and Tourmaline Oil Corp. are poised to recover as a discount on the fuel triggered by increased pipeline tolls diminishes.
Metal-on-metal hip implants made by Johnson & Johnson and Zimmer Holding Inc. need more consistent testing to help lower high failure rates that lead to risky replacement surgeries, a report by regulators said.