Bloomberg Deutsche Bank AG and UBS Group AG briefly explored the idea of a megamerger earlier this year that would have created continental Europe’s biggest financial institution, people with knowledge of the matter said. Top Deutsche Bank and UBS officials held preliminary discussions in recent months about a potential combination, according to the people, who asked not to be identified …

Bloomberg Wells Fargo & Co is in negotiations to settle a US probe into procurement of low-income housing tax credits as its top lawyer tries to clean up issues before handing off the chief executive officer role. The US Justice Department is aiming to resolve an investigation into multiple banks’ alleged manipulation of tax-credit bidding in the next couple months, …

Bloomberg Oil posted its worst May performance in seven years as global trade tensions escalat-ed, undermining the outlook for energy demand growth. Futures tumbled 5.5 percent in New York to a depth not seen in more than three months. Equities also plunged as investors deserted risky asset classes for the safety of gold and US Treasuries. President Donald Trump’s threat …