Royal Bank of Scotland Group Plc has hired Stephen Chronert, the former head of high-yield bond and leveraged loan sales in the U.S. at UBS AG, for a similar role at Britain’s biggest government-owned lender.
A commuter ferry carrying passengers to New York City from New Jersey crashed into a pier near the financial district during rush hour, sending bodies flying and injuring dozens, including two critically, police said.
Cravath Swaine & Moore LLP announced year-end bonuses for associates, ranging from $10,000 for the newest associates to $60,000 for the most senior, according to a memo the firm gave its lawyers that was obtained by Bloomberg News.
Analysts predict Goldman Sachs Group Inc. will pay $1 billion or more to settle a Securities and Exchange Commission fraud suit that triggered a 26 percent drop in the firm’s stock, Bloomberg News’s Jesse Westbrook and David Scheer report. Extracting such a record-setting penalty may be easier said than done.
The U.S. Supreme Court struck down much of Arizona’s first-of-its-kind crackdown on illegal immigrants, ruling that states must defer to the federal government on immigration policy, an election-year victory for President Barack Obama.