A source has told Reuters Goldman Sachs is in talks with the U.S. Justice Department to plead guilty to settle a criminal investigation into its role in the sweeping Malaysian 1MDB corruption scandal.
The Wall Street Journal reported Thursday that the settlement could include a $2 billion fine, and that Goldman may agree to install an independent compliance monitor as part of the deal.
Sources told the Journal the two sides have discussed a deal whereby a Goldman subsidiary in Asia would plead guilty to violating U.S. bribery laws.
The investigation revolves around the Malaysian government's 1MDB fund, for which prosecutors say Goldman raised $6.5 billion.
U.S. authorities say two Goldman bankers and a Malaysian government adviser stole much of that money, using it to buy luxury assets like a yacht and real estate, and to finance Hollywood films like "The Wolf of Wall Street." The Journal says a settlement with the Justice Department would not resolve Malaysia's probe which seeks $7.5 billion from Goldman.
A Goldman spokeswoman told the Journal that resolution discussions are continuing.
The findings of a new study conducted on mice liver cells reveal that vitamin-e extracted from palm oil helps in boosting the immune response of the body. Palm oil contains abundant quantities of vitamin E compounds, which include tocopherols and tocotrienols. These compounds have antioxidant effects, which protect cells from damage from toxic chemicals produced by metabolic processes. While tocopherol is a widely known and researched compound, there remains much to learn about tocotrienols. A team of researchers from Malaysia and Libya recently investigated the effect of tocotrienols extracted from palm oil on mice liver cells. The team investigated the expression levels of genes influenced by a transcription factor Nrf2, and the translocation of the same factor into the cellular nucleus. Nrf2 is known to upregulate phase II drug metabolism in reaction to metabolic processes. The genes activate cellular defence mechanisms. "Our study is the first in vivo study on the effect of tocotrienols on Nrf2on genetic material in the nucleus," said Azman Abdullah (Universiti Kebangsaan Malaysia), the corresponding author of the study.
Every morning, Malaysian aircraft pilot Azrin Mohamad Zawawi dons his white captain's uniform and hat before heading to work - not at the airport, but to the small noodle stall that he now runs in a suburb just outside the capital Kuala Lumpur.
A study conducted on mice liver cells revealed that Vitamin E extracted from palm oil helps in boosting the immune response of the body. Palm oil contains abundant quantities of vitamin E compounds, which include tocopherols and tocotrienols. These compounds have anti-oxidant effects, which protect cells from damage from toxic chemicals produced by metabolic processes. While tocopherol is a widely known and researched compound, there remains much to learn about tocotrienols. A team of researchers from Malaysia and Libya recently investigated the effect of tocotrienols extracted from palm oil on mice liver cells. The team investigated the expression levels of genes influenced by a transcription factor Nrf2, and the translocation of the same factor into the cellular nucleus. Nrf2 is known to upregulate phase II drug metabolism in reaction to metabolic processes. The genes activate cellular defense mechanisms. The team observed that the translocation of Nrf2 in mice liver cells is both dose dependent, and functionally relevant."We observed that the maximum effect of Nrf2 translocation into the liver cell nucleus after administration of the palm oil extract occurred in 60 minutes of administration," said Abdullah. Palm oil is an economical source of vitamin E, and several studies have shown the beneficial effects on the immune system, which include anti-oxidant and anti-cancer activity as well has cytoprotective actions. Researchers hope that these findings pave the way for easily available remedies for a variety of diseases. The current study is published in Current Pharmaceutical Biotechnology.
Goldman Sachs has cut its near-term growth forecasts for the United States. Goldman Sachs based this on spiking COVID-19 cases and slowing economic activity. US gross domestic product will grow 3.5% in the fourth quarter, down from the previous forecast of 4.5%. According to Business Insider first-quarter 2021 growth estimate was also lowered to 1% from 3.5%. Goldman Sachs said the winter drag should give way to a bigger rebound on the back of vaccine distribution.
The Wall Street Journal is reporting that streaming service Quibi is considering shutting down. Quibi has struggled to gain a foothold in the streaming industry since its launch in April. Business Insider reports that Quibi has failed to attract viewers and none of its shows have become major hits. Last month WSJ reported that Quibi was exploring multiple options, including a possible sale. The company boasted Hewlett Packard Enterprises CEO Meg Whitman as its CEO.
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.
[NFA] Some voted amid a power outage under the glow of lanterns. Others marched to the polls as part of a band. And a rare few even rode in on horseback to cast their ballots. By whatever means possible, massive numbers of Americans voted - and apparently in a peaceful manner. Lisa Bernhard produced this report.
Leaders of the world's 20 biggest economies on Sunday will pledge to pay for a fair distribution of COVID-19 vaccines, drugs and tests around the world so that poorer countries are not left out, and to extend debt relief to them, a draft G20 communique showed. Fred Katayama reports.
Wisconsin's governor on Friday extended a statewide mask mandate despite a legal challenge from conservatives, renewing an emergency health order requiring face coverings in public spaces to curb an alarming surge in COVID-19 infections. Fred Katayama reports.
The land preparation and designing process of tulip garden have begun in full swing for next season in Kashmir. Situated on the foothills of the Zabarwan Range, it is Asia's largest tulip garden. Picturesque garden opened in 2007 with the aim to boost floriculture and tourism in Kashmir Valley. Workers are busy to make land suitable for mesmerising tulips to bloom.
A China-backed free trade bloc, spanning 30% of the world's economy, was formed at a virtual summit on Sunday in a move that likely gives Beijing greater influence and leaves Washington on the outside. David Doyle reports.