Recent Posts

US discusses Goldman-1MDB settlement below $2 billion

Bloomberg Goldman Sachs Group Inc could end up paying less than $2 billion to resolve US criminal and regulatory probes over its role in raising money for scandal-ridden Malaysian investment fund 1MDB, said three people familiar with the negotiations. The justice department and other federal agencies, in internal discussions held in recent weeks, have weighed seeking penalties between $1.5 billion ...

Read More »

Deutsche Bank’s big raid last year settled with $16.6mn fine

Bloomberg Deutsche Bank AG was given a small fine as a result of a case that led to a big raid on its headquarters a year ago. Frankfurt prosecutors completed their probe in a case of suspected money laundering and ordered the lender to pay 15 million euros ($16.6 million) for failing to flag suspicious transactions in time and lacking ...

Read More »

$10bn Congo budget unrealistic: IMF

Bloomberg The International Monetary Fund (IMF) said the Democratic Republic of Congo’s proposed $10.2 billion budget is “unrealistic,” amid slowing output from the country’s copper and cobalt mines. The government is seeking a budget of 16.9 trillion francs ($10.2 billion) next year, with revenue expected to climb 63% compared to this year. The IMF projects that Congo’s actual revenue this ...

Read More »