Commodities revenues at major investment banks have finally picked up. Combined income at 12 top banks including Goldman Sachs Group Inc. and Citigroup Inc. climbed 45 percent to $3.6 billion last year, according to analytics firm Coalition Development Ltd. That marks a turnaround after three years of worsening results driven by increased regulatory scrutiny, curbs on proprietary trading and reduced investment by hedge funds. Last year’s rebound in commodities revenue followed the worst annual performance since at least 2006, Coalition data show. The recovery was partly driven by strong results in power and gas, ... (full story)