10/23 Financial News: Goldman “1Malaysia Development Berhad” scandal, Foxconn clears Alibaba ADS

Image Source: finance.sina
  1. The Dow Jones Industrial Average closed 152.84 points higher, or 0.54%, to 28,363.66, the S&P 500 gained 17.93 points, or 0.52%, to 3,453.49 and the Nasdaq Composite added 21.31 points, or 0.19%, to 11,506.01.
  2. Goldman Sachs cuts US$174 million of pay for current and former executives, taking them to task for bank’s role in “1Malaysia Development Berhad ”(1MDB) fraud. In a deal with the US Justice Department, the bank admitted executives and other staff conspired to pay more than US$1.6 billion in bribes to win business in Malaysia. That settlement includes the highest penalty ever under the Foreign Corrupt Practices Act involving in three bond offerings for 1MDB.
  3. On October 20, 2020, U.S. Customs and Border Protection (CBP) issued a finding determining that stevia extracts and derivatives, mined, produced, or manufactured in the Communist China by the Inner Mongolia Hengzheng Group Baoanzhao Agriculture, Industry, and Trade Co. Ltd., with the use of convict, forced or indentured labor, are being, or are likely to be, imported into the United States.
  4. The European Union has begun an anti-dumping investigation into imports from the Communist China of steel towers used for wind turbines, the EU official journal said on 21 Oct. The investigation follows a complaint by the European Wind Tower Association, which says the volumes and low prices of the towers have hit European producers.
  5. Is Terry Guo short of money or not optimistic about Alibaba? Foxconn Technology Group sells 630,000 Alibaba ADS (American Depository Securities) for US$196M.
  6. Despite having an upgraded camera, its latest advanced chipset and a better battery, Huawei’s new smartphone may not have very many buyers outside the Chinese tech giant’s home market.

By 【G-Translator – Financial and Law Team-Tracy】

Proofreading by: XlBrother

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灭共52165 新中国联邦

ccp must go to hell

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