1MDB: Malaysia files charges against 17 current and ex-Goldman Sachs bosses

Bank has been under scrutiny for its role in helping to raise $6.5bn through bond offerings

Malaysia has filed criminal charges against 17 current and former directors at subsidiaries of Goldman Sachs Group in a multibillion-dollar corruption investigation at state fund 1MDB, the attorney general said on Friday.

Goldman Sachs has been under scrutiny for its role in helping to raise $6.5bn through bond offerings for 1Malaysia Development Bhd (1MDB), the subject of corruption and money-laundering investigations in at least six countries.

Continue reading...

Company part-owned by Jared Kushner got $90m from unknown offshore investors since 2017

Overseas investment flowed to Cadre while Trump’s son-in-law works as US envoy, raising conflict of interest questions

A real estate company part-owned by Jared Kushner has received $90m in foreign funding from an opaque offshore vehicle since he entered the White House as a senior adviser to his father-in-law Donald Trump.

Investment has flowed from overseas to the company, Cadre, while Kushner works as an international envoy for the US, according to corporate filings and interviews. The money came through a vehicle run by Goldman Sachs in the Cayman Islands, a tax haven that guarantees corporate secrecy.

Continue reading...

Goldman Sachs plans to cut bonuses as 1MDB scandal deepens

Investment bank might withhold cash from former boss Lloyd Blankfein over firm’s involvement in Malaysian affair

Goldman Sachs’s decision to potentially cut bonuses for top executives over the 1MDB scandal reflects an acknowledgement of shareholder and public outrage over the debacle.

The prestigious investment bank has announced that it could withhold millions of dollars in bonuses to former chief executive Lloyd Blankfein and two other retired executives depending on the outcome of ongoing inquiries into the Malaysian fund.

Continue reading...

Florence sweeps away motel and family’s hard work, savings

19, 2018 photo, Smita Depani, center, stands in the apartment she lived in while surveying the damage with her brother-in-law Jayanti Depani, right, and sister-in-law Puspa Manvar in the Starlite Motel... . In this Wednesday, Sept.

After Testy Deposition, Judge Orders Lawyers for Wachtell, Icahn Entity to Court

Amid a yearslong legal malpractice suit against Wachtell, Lipton, Rosen & Katz , lawyers for the storied New York firm and CVR Energy Inc., a Sugar Land, Texas-based company controlled by Carl Icahn, are now asking a federal judge to settle a heated deposition dispute in which the famed corporate raider bristled at Wachtell's questioning, leading to its abrupt end. "I don't think you have a right to come in and ask me questions.

Clinton stars as central villain in GOP’s midterm strategy

26, 2016, file photo, then-Republican presidential nominee Donald Trump and then-Democratic presidential nominee Hillary Clinton are introduced during the presidential debate at Hofstra University in... . FILE - In this June 5, 2017 photo, former Secretary of State Hillary Clinton speaks at a fundraiser for the Elijah Cummings Youth Program in Israel in Baltimore.

Deutsche Bank Nominates John Thain to Supervisory Board

John Thain, who was also CEO of the New York Stock Exchange and President and Chief Operating Officer of Goldman Sachs GS, is currently a member of the board of directors of Uber Technologies. Deutsche Bank AG said on Wednesday, April 4, that it had proposed four new representatives of shareholders to sit on its supervisory board, including John Thain, in a reshuffle.

White House Memo: Newly Emboldened, Trump Says What He Really Feels

For months, President Trump's legal advisers implored him to avoid so much as mentioning the name of Robert S. Mueller III, the special counsel, in his tweets, and to do nothing to provoke him or suggest his investigation is not proper. Ignoring that advice over the weekend was the decision of a president who ultimately trusts only his own instincts, and now believes he has settled into the job enough to rely on them rather than the people who advise him.

Trump picks camera-proven Kudlow as top economic aide

President Donald Trump has chosen Larry Kudlow to be his top economic aide, elevating the influence of a long-time fixture on the CNBC business news network who previously served in the Reagan administration and has emerged as a leading evangelist for tax cuts and a smaller government.

Does Cohn’s exit mark end of Trump’s Goldman era? Source: AP

Top economic adviser Gary Cohn is only the latest Goldman figure to head for the White House exits, suggesting the influence of the oh-so-establishment banking powerhouse has been overwhelmed by the more nationalistic voices in the West Wing. Cohn, Goldman's former president, announced his resignation this week after an unsuccessful effort to block Trump from imposing sweeping new tariffs on steel and aluminum imports.

How Did Rex Tillerson Manage to Keep His Job?

Policy differences with your boss, especially if he is the president, are one thing; reportedly calling him a "moron" and declining to say whether he represents American values are quite another. And yet a little more than a year after Rex Tillerson was sworn in as the U.S. secretary of state, and amid umpteen stories of his imminent departure from that position, including in The Atlantic , he's still in his job while high-profile Trump loyalists such as Hope Hicks are out.

Lawmakers, business brace for rollout of Trump’s tariff plan

The White House says Mexico, Canada and other countries may be spared from President Donald Trump's planned steel and aluminum tariffs under national security "carve-outs," a move that could soften the blow amid threats of retaliation by trading partners and dire economic warnings from lawmakers and business groups. Press secretary Sarah Huckabee Sanders told reporters the exemptions would be made on a "case by case" and "country by country" basis, a reversal from the policy articulated by the White House just days ago that there would be no exemptions from Trump's plan.

Mexico, Canada and others may be exempt from US tariffs

The White House said Mr Trump was expected to make a final announcement by the end of the week The White House has said Mexico, Canada and other countries may be spared from President Donald Trump's planned steel and aluminium tariffs under national security "carve-outs". The move could soften the blow amid threats of retaliation by trading partners and dire economic warnings from lawmakers and business groups.

Opioid overdoses in ERs up 30 percent as crisis worsens

The government said non-fatal overdoses visits to hospit... . From left, kindergarten teacher Terra Triggs, first grade teacher Andrea Mason, kindergarten teacher Lisa Taylor, reading specialist Shelly Sexton, Brynn Triggs, Nikki Sexton relax and talk as they wait fo... West Virginia Gov. Jim Justice says a tentative agreement has been reached to end a nine-day statewide teachers' strike by giving them the 5 percent raises he negotiated to end their walkout.

Collins’ vote for GOP tax bill will worsen US income inequality

Sen. Susan Collins explained her vote to pass the recent tax bill citing the expert advice she received from Glenn Hubbard, dean of the Columbia Business School, and Douglass Holtz-Eakin, a Republican policy adviser and president of the American Action Forum. "Even the joint committee on taxation has projected that the tax bill would stimulate the economy to produce hundreds of billions of additional revenue.

Murphy Sworn In as New Jersey Governor

Philip Dunton Murphy was sworn in as New Jersey's 56th governor, vowing to make good on economic promises unfulfilled by his Republican predecessor and counteract what he called catastrophic social and fiscal policy by the Trump administration. Goldman Sachs Group Inc. senior director, pledged to help foster a "stronger and fairer" New Jersey that creates higher-wage jobs, increases public-school funding, provides free access to community college, helps small businesses and ensures the wealthiest pay "their fair share" in taxes.

Politics And Reality Radio: “Collusion” Author Luke Harding On Trump-Russia

This week, we're joined by The Guardian's Luke Harding to talk about his new book, Collusion: Secret Meetings, Dirty Money, and How Russia Helped Donald Trump Win. We recorded this interview a day before we learned that Trump's former National Security Adviser, Michael Flynn, pleaded guilty to lying to the FBI and is cooperating with special counsel Robert Mueller's investigation.