Home > Goldman Sachs: Nearly $3 Billion To Settle Charges

News
Goldman Sachs: Nearly $3 Billion To Settle Charges

Description

Goldman Sachs on Thursday reached a massive settlement with US authorities regarding a years-long financial scandal in Malaysia. The federal investigation involved the bank's work with Malaysia's 1MDB fund, and found bribes by Goldman executives in their underwriting of $6.5 billion in bond offerings. In a statement, CEO David Solomon admitted the bank's wrongdoing and said it had improved internal risk controls to prevent another incident. The bank also announced "clawback actions" for former employees that were implicated along with reductions in top executives' compensation, including CEO David Solomon.

Added on the 22/10/2020 15:59:45 - Copyright : Wochit

To customise your video :

Or Create an account

More videos on the subject

  • Goldman Sachs agrees to pay $2.9 billion to settle 1MDB corruption probe

    Goldman Sachs has agreed to pay penalties of $2.9 billion in the US for its role in Malaysia's 1MDB scandal, which saw the investment bank siphon billions of dollars out of an economic development fund set up by the Malaysian government. Also, America's largest retailer Walmart is suing the US government over the opioid crisis, and the UK signs its first post-Brexit bilateral trade deal – with Japan. Finally, we see how the toy industry has benefited from the Covid-19 pandemic.

    23/10/2020 - France 24 EN
  • Goldman Sachs Lands GM's $2.5 Billion Business

    Ramin Talaie/Corbis/Getty Images Goldman Sachs won the bid for General Motors' credit-card business for roughly $2.5 billion, The Wall Street Journal reported Thursday. The Wall Street giant beat out Barclays, acquiring more than one million GM cardholders and the $8.5 billion they spend annually, according to The Wall Street Journal. This is Goldman Sachs' second co-branded card, following the Apple Card, as it looks to expand its consumer-lending business. The bank recently shuffled its organizational structure to create a new standalone consumer division that includes its Marcus lending unit.

    02/10/2020 - Wochit
  • Clinton Mocks Trump and Christie at Atlantic City Rally

    Speaking in Atlantic City, New Jersey, Wednesday, Democratic Presidential candidate Hillary Clinton took a jibe at Republican Presidential candidate Donald Trump and his possible choice for vice-president choice, Governor of New Jersey Chris Christie.

    07/07/2016 - RT Ruptly EN
  • Wales and Portugal Fans Break Out Into Mass Brawl After UEFA Euro Match

    Despite exceeding all expectations and reaching the semi-finals round of the 2016 UEFA Euro football championship, Wales was eliminated last night after their 2-0 loss to Portugal, who now advance to play against either Germany or France in the final match on Sunday. Tempers flared between Portugal and Wales fans in a Lyon fanzone on Wednesday, during the teams' UEFA 2016 European Championship's semi-final.

    07/07/2016 - RT Ruptly EN
  • Trump Says US Enemies "Likely Have a Blackmail File" on Clinton

    Thousands of supporters attended a rally held by US Republican Party presidential candidate Donald Trump in Cincinnati, Ohio, on Wednesday evening. Speaking during the rally, Trump criticised presumptive Democratic Party candidate rival Hillary Clinton's for her use of private email servers while secretary of state. Clinton was cleared of any criminal wrongdoing by an FBI investigation this week, though she and her aides were described as "extremely careless" by FBI Director James Comey.

    07/07/2016 - RT Ruptly EN

More videosNews

Watch video of  - DemainEntreprendre - épisode 12 - Label : Economie wallonne -
News

DemainEntreprendre - épisode 12

29/04/2021 12:55:32