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Malaysia PM says Goldman Sachs must renegotiate 1MDB settlement
Malaysia PM says Goldman Sachs must renegotiate 1MDB settlement
Business and Economy
by  AFP

Malaysia's prime minister vowed Wednesday to chase a new settlement from US investment bank Goldman Sachs for its role in the billion-dollar corruption scandal at the 1MDB state fund. Under that 2020 settlement, Goldman Sachs paid Malaysia $2.5 billion for its role in the financial scandal, while Kuala Lumpur agreed to end all criminal proceedings against the bank.

Saudi, Russian oil cuts to cause big supply shortfall: IEA
Saudi, Russian oil cuts to cause big supply shortfall: IEA
Business and Economy
by  AFP

Oil cuts by Saudi Arabia and Russia will cause a "significant" global supply shortfall through the end of the year, raising the risk of further market volatility, the International Energy Agency said Wednesday. Saudi Arabia has extended an oil production cut of one million barrels per day, which began in July, to the end of the year.

EU to probe China electric car subsidies
EU to probe China electric car subsidies
Business and Economy
by  AFP

Brussels will investigate Chinese state subsidies for electric cars, EU chief Ursula von der Leyen said Wednesday, vowing to defend Europe's industry against "artificially low prices". And their price is kept artificially low by huge state subsidies," von der Leyen said, during a speech at the European Parliament in Strasbourg.