Goldman Sachs profits plunge amid 1MDB corruption scandal

Goldman Sachs watched profits plummet in the fourth quarter as it prepared to pay out billions punished for its role in the 1MDB scandal. The Wall Street giant announced Wednesday morning that it set aside $1.24 billion last year as it tries to settle with both US and Malaysian authorities in what could require a guilty plea for its role […]

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Bank of America profit slips as Fed slashes interest rates

Bank of America CEO on paying every employee at least $20 an hour Bank of America CEO and chairman Brian Moynihan discusses digital banking and increasing hourly wages. Bank of America's profit dropped 3.9 percent in the last three months of 2019 as interest-rate cuts by the Federal Reserve rendered new loans less lucrative, posing a challenge to lenders from […]

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Documents to show U.S.-China trade deal fully enforceable: Mnuchin

WASHINGTON (Reuters) – Documents to be released Wednesday will show skeptics that a Phase 1 U.S.-China trade agreement will be fully enforceable, including a pledge by China to refrain from manipulating its currency, U.S. Treasury Secretary Steven Mnuchin said Tuesday. U.S. President Donald Trump is due to sign the trade pact with Chinese Vice Premier Liu He at a ceremony […]

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Visa to buy fintech startup Plaid in $5.3 billion deal

(Reuters) – Visa Inc (V.N) has agreed to buy privately held financial technology startup Plaid Inc in a $5.3 billion deal, the payments processor said on Monday. Visa and rival Mastercard Inc (MA.N) had invested in Plaid in a $250 million series C funding round in 2018 that reportedly valued the firm at $2.65 billion. Plaid, whose technology lets people […]

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The real price of Occidental's 'costless' oil hedge

(Reuters) – In just 12 days, Occidental Petroleum Corp pulled off one of the biggest hedges against falling oil prices ever placed by a U.S. energy company. It characterized the transaction as “costless” but a Reuters review of regulatory filings, market data and interviews shows that’s not the whole story. The aim of the complex financial maneuver, the company said, […]

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Nunes letter to ICIG demands answers about whistleblower complaint

Rep. Nunes: ICIG Michael Atkinson still facing serious questions about whistleblower complaint Califronia Congressman Devin Nunes weighs in on the House Republicans investigating origins of the Ukraine whistleblower complaint. House Intelligence Committee ranking member Devin Nunes, R-Calif., demanded answers Saturday from the Intelligence Community Inspector General’s office regarding the whistleblower complaint about President Trump’s July 25 phone call with Ukrainian President Volodymyr […]

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Takeaway declares victory in Just Eat bid battle

AMSTERDAM (Reuters) – Dutch online food ordering service Takeaway.com (TKWY.AS) on Friday declared victory in its bid to buy Britain’s Just Eat (JE.L) in a deal worth 5.9 billion pounds ($7.7 billion). Takeaway said in a statement that 80.4 percent of Just Eat shareholders had agreed to its all-share offer, passing a 50 percent threshold needed to make the offer […]

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Rolls-Royce enjoys record sales year thanks to £264,000+ SUV

Rolls-Royce sold 5,152 of its luxury cars last year, the highest number in its 116-year history. Torsten Müller-Otvös, the chief executive, said he was “very smiley, very happy” as he announced an “extraordinary year” of global sales. Müller-Otvös said sales had increased by 25% on the 4,107 cars sold in 2018, driven mostly by demand for the Cullinan, its three-tonne […]

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