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WeWork troubles deepen as SoftBank pulls US$3bil tender offer
TOKYO: SoftBank Group Corp said it has terminated a US$3bil tender offer for additional WeWork shares agreed last year with shareholders, drawing threats of legal action and plunging the floundering office space company further into crisis.
Trump says he would support Govt taking stake in certain companies
WASHINGTON: President Donald Trump on Thursday opened the door to a radical shift in the U.S. government's relationship to private industry as the coronavirus outbreak upends the nation's economy, saying he would back the government taking stakes in certain companies.
High-profile corruption cases that shook the corporate world
IT is no secret that corruption and bribery is rampant in the corporate world. Across the globe, many corporations have offered – and continue to offer – some form of payment in return for contracts or favours from government or other companies.
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.