Investments

Goldman Sachs Group Chief Executive Officer David Solomon defended the need to support traditional energy companies, batting away demands from climate activists to abandon their clients in that sector.

With class certification now in hand, the cities that brought the lawsuit have two weeks to outline how other municipalities will be provided notice of the chance to join.

Protesters who were arrested after blocking the entrances to big-bank offices in New York say they'll keep pushing for action on climate change. "I think the intensity of protests will only grow from what it has been over the last week," one activist said.

The lawsuits alleged that banks including Bank of America and Goldman Sachs — acting as remarketing agents on the securities — failed to get the best rates for issuers.

The private equity firms accused the bank of concealing key changes to a credit agreement, in part because it wanted to win future muni bond business from Brightline Holdings.

The $223 billion-asset bank said it will train its commercial bankers to work with clients to develop decarbonization transition plans. It also committed to reaching carbon neutrality within 12 years.

The former U.S. vice president turned climate crusader says Big Oil and the banks backing it still have huge financial incentives to stick with fossil fuels, even though their decision to do so is the leading cause of the climate crisis.

But at the same time, the publicly traded company is selling off another type of housing finance asset to some large depository institutions.

Franklin Templeton has joined fellow asset manager powerhouses Fidelity and BlackRock in the race to win approval to offer the first U.S. exchange-traded fund that invests directly in bitcoin. 

Regional banks may soon favor CLOs again while proposed rules could draw banks to the market long-term.