The Fed's Power Over Wall St., Left Unexamined

Goldman Brushes Off the Gadfly

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Jim Wilson/The New York Times
Green Day, in San Francisco in 2009, is on Warner's label.

Warner Music Nears a Sale to Access

Warner Music, one of the big four music record companies, is near a sale to the Russian-born industrial magnate Len Blavatnik for more than $3 billion.

Actelion shareholder meeting
Fabrice Coffrini/Agence France-Presse -- Getty Images
Actelion's chairman, Robert Cawthorn, speaks at the company's annual shareholder meeting on Thursday in Switzerland.

Shareholders Back Actelion’s Board

Elliott Advisors’ efforts to remake the board of Actelion Pharmaceuticals were scuttled, as investors sided with management at the biotechnology company’s annual meeting on Thursday.

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Morning Take-Out

Highlights from the DealBook newsletter.

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Oli Scarff/Getty Images

As Lloyds, BBVA and Société Générale Slip, ING Surprises

Three of the four major European banks that reported first-quarter earnings on Thursday performed weaker than had been expected, largely as a result of recent market turmoil and the slow economic recovery.

UBS Settles Fraud Cases Over Munis | 

UBS, the Swiss banking giant, was accused by the federal and state governments of rigging bids in a municipal bond derivatives market, The New York Times reports. Read More »

Ralcorp
Paul Sakuma/Associated Press
Post Cereals are among Ralcorp's brands.

ConAgra May Have to Go Hostile After Ralcorp Rejects Offer

The bid made on Wednesday is 32 percent above Ralcorp’s stock price in March, when ConAgra made its first takeover move.

Citigroup Hires UBS Banker

Kevin Cox, formerly head of Americas investment banking at UBS, is joining Citigroup as co-chairman of global industrials banking.

gavel

Onetime S.E.C. Enforcement Lawyer Joins Weil Gotshal

Christian R. Bartholomew will become the head of the law firm’s S.E.C. enforcement and litigation practice in Washington.

Evelyn Y. Davis
William Thomas Cain/Getty Images
Evelyn Y. Davis at the Ford Motor Company's annual meeting last year.

Goldman Brushes Off the Gadfly

Some banks are paying $5,000 and more for Evelyn Y. Davis’s newsletters, but Goldman Sachs has canceled its $7,200 subscription.

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Adam Au/Reuters

Finding Long-Term Value in Renren

David Chao — a general partner at DCM, a major Renren shareholder — talks about why his firm is holding its stake in the Facebook of China, the long-term value of the social networking site and the recent accounting questions at the company.

Raj Rajaratnam
Peter Foley/Bloomberg News
Raj Rajaratnam

At Galleon, Calm in the Face of Market Turmoil

A wiretapped phone call between Raj Rajaratnam and a trader provides a window into the unique lingo of a Wall Street trading floor and the calm before the Lehman Brothers storm.

Ben Bernanke
Alex Wong/Getty Images
Ben Bernanke.

Greater Power Over Wall Street, Left Unexamined

The Federal Reserve is the steward of the economy, but it also has to regulate the financial system, a responsibility it has yet to discuss publicly.

Mary L. Schapiro and Gary Gensler
Andrew Harrer/Bloomberg News
Mary L. Schapiro and Gary Gensler

On Capitol Hill, Regulators Plead for More Money

Gary Gensler, the C.F.T.C.’s chairman, and Mary L. Schapiro, the S.E.C.’s chairwoman, say they need hundreds of millions of dollars to prevent another financial crisis.

Goldman Said to Be ‘Freaked Out’ About Volcker Rule | 

Goldman Sachs is making a big lobbying push aimed at shaping the regulations defining the Volcker rule, Lauren Tara LaCapra of Reuters reports. One Goldman lobbyist quoted says the firm is “totally freaked out about Volcker.”Read more »

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Nicole Bengiveno/New York Times
A ConAgra plant where Peter Pan Peanut Butter is made.

ConAgra Deals in the Show-Me State

Ralcorp is incorporated and based in Missouri, a fact that could make ConAgra’s takeover attempt tougher, the Deal Professor says.

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Goldman Sachs Brushes Off the Gadfly
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