A disappointing Q1 for Goldman Sachs shows why its fledgling online banking outfit can’t explode fast enough – NYTimes

Its traders, in particular, took it on the chin the past few months – WSJ

China’s infamous shadow banking industry—an $8.5 trillion marketplace that’s sprung up in reaction to the government’s “campaign against financial leverage”—is back and bigger than ever these days – Bloomberg

Kleinfeld’s CEO seat is still warm, and the race to replace him at Arconic is heating up – WSJ

The IMF’s feeling a tad more optimistic about the state of the global economy these days, a rather bold call given the uncertainty surrounding upcoming elections in France and Germany – NYTimes

Harbert Management Co., a backer of Iron Ranger and former money manager Philip Falcone, has reached a deal with the NY AG to pay $40 million over allegations that it hadn’t paid NY state taxes during some of its most profitable years (paying only in its home state of Alabama instead) – NYTimes and WSJ

More SCOTUS action yesterday with financial ramifications, as the Justices heard oral argument on the limits of the SEC’s disgorgement penalties – Law360 and WSJ

Streetwise helps us through the state of the British pound, the rather buoyant currency that keeps bobbing along in spite of major waves (Brexit, a call for snap elections, etc.) that were supposed to sink it – WSJ

The Unicorn Frappuccino.  Apparently less mythical than its namesake – Mashable