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Startups chase US$55bil boom from privacy law
BUSINESSES operating in California are required to be in compliance with a sweeping new privacy law, the California Consumer Privacy Act (CCPA), starting this month.
Uber, Postmates sue California to block gig-worker law
SAN FRANCISCO: Uber Technologies Inc. and Postmates Inc. sued the state of California, alleging that a labor rights law set to go into effect this week is unconstitutional.
Goldman directors may face trial as govt steps up 1MDB case
KUALA LUMPUR: Malaysia’s top prosecutor said he’s ready to ratchet up a criminal case against Goldman Sachs Group Inc for its role in the 1MDB affair by bringing executives of the US bank to court, as the two sides remain far apart following several rounds of settlement talks
In US 1MDB probes Goldman Sachs may admit guilt, pay US$2bil fine to settle
NEW YORK: Goldman Sachs Group Inc is in talks with the U.S. government and a state regulator to possibly pay up to $2 billion and admit guilt to resolve investigations into its role in the 1MDB Malaysian corruption scandal, according to a source familiar with the matter.
T-Mobile US Inc girds for decisive battle with states over Sprint Corp
Washington: The future of the US wireless industry hinges on a court battle kicking off today in federal court in Manhattan, a case that could end with T-Mobile US Inc buying Sprint Corp, and Dish Network Corp getting the go-ahead to enter the market.
Malaysia wins ruling, opens door to public 1MDB proceedings
LONDON: Malaysia won a victory at a London court that will allow public hearings in a dispute between 1MDB and Abu Dhabi’s state investment fund in legal battle over how billions of dollars intended for Malaysia’s economic development was stolen.
Indonesia sees no bailout for troubled life insurer
JAKARTA: Indonesia does not intend to bail out a state-owned life insurer that needs an injection of more than US$2bil, the finance ministry said, after reports that the attorney-general’s office has been asked to probe possible fraud.
Brexit among reasons for delay for Malaysia to challenge EU ban on palm oil
KUALA LUMPUR: The uncertainties over Brexit is among the reasons for the delay in Malaysia's attempt to challenge the European Union (EU) over its palm oil ban.
Malaysia averted FAA downgrade in 2003 as DCA quick to rectify issues
PETALING JAYA: Malaysia was on the verge of a downgrade by the United States Federal Aviation Administration (FAA) in mid-2003, but a quick rectification of problems prevented a full downgrade to Category 2 (Cat 2).
Malaysia aims to locate further US$4.3b in 1MDB-linked assets
KUALA LUMPUR: Malaysia is working to locate at least US$4.3bil in assets that have yet to be accounted for in a global money laundering probe into state fund 1MDB, its anti-corruption chief said on Tuesday.