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By Jonathan Stempel NEW YORK (Reuters) – Goldman Sachs Group Inc officers and directors reached a $79.5 million settlement to resolve shareholder claims that their poor oversight contributed to the bank being enmeshed in the looting scandal at Malaysia’s 1MDB sovereign wealth fund. A preliminary settlement of the so-called shareholder derivative lawsuit was filed on Friday in Manhattan federal court, and requires approval by U.S. District Judge Vernon Broderick. The defendants’ insurers would pay the $79.5 million to Goldman, which would apply it toward compliance and governance measures, incl… Continue reading “Goldman Sachs officials reach $79.5 million shareholder settlement over 1MDB scandal”

The government expects research into the planned “fake news” law to be completed by the middle of the year, the legislature has heard. However, security chief Chris Tang has said that existing laws were already capable of regulating the spread of false information related to the Covid-19 pandemic. During a Legislative Council meeting on Wednesday, lawmaker Michael Tien asked about government efforts to combat “false information,” saying that it “has greatly affected public order and efforts for fighting the epidemic.” In response, the Secretary for Security Chris Tang said that the government … Continue reading “Hong Kong laws can limit false Covid info, says security chief, but research into ‘fake news’ legislation underway”

YOURSAY | ‘Unless these VIPs resolve traffic woes, they should suffer like the rest of us.’ Get rid of police outriders for ministers, deputies – Steven Sim PurpleRabbit4068: I believe many road users have experienced these outsiders behaving like the roads are all theirs by intimidating other road users to give way to them. They pressure road users to give way to them quickly as they travel at a very high speed. We feel so belittled by these outsiders whenever they appear. We pay their salaries and the VIPs in the black-tinted cars, but we need to step aside for them to pass. I cannot agree m… Continue reading “YOURSAY | Outriders do nothing but inflate politicians’ egos”