What you need to know on Wall Street today

Welcome to Finance Insider, Business Insider’s summary of the top stories of the past 24 hours.

Steve Cohen, the billionaire who ran one of Wall Street’s most infamous hedge funds, is trying to stage a big comeback.

Less than four years after his old firm pleaded guilty to insider trading, Cohen is launching a new fund, reportedly with a goal of managing as much as $US20 billion. The question now is, what matters more, Cohen’s past or his future?

The pace of job creation in the US slowed by more than expected in May, and less participation in the labour market helped to push the unemployment rate to a 16-year low. Here’s what you need to know about the jobs report:

In other news, Goldman Sachs wants to expand in Saudi Arabia. UBS is changing how its army of financial advisers get paid. And big money managers are squeezing smaller ones at the worst possible time.

In deal news, Blue Apron has filed to go public — and it lost almost as much last quarter as it did all last year. And here’s how US paint maker PPG lost its $US29.5 billion battle for Dulux.

President Donald Trump announced Thursday that he would pull the US out of the landmark Paris Agreement on climate change, following through with a key campaign promise. Here’s what you need to know:

Lastly, here’s what it looks like from the top of nine of New York’s most exclusive buildings.

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