The EU opened a formal antitrust investigation into Amazon on Wednesday centered on how the e-commerce giant uses merchants' data.Technologyread more
Investors are keen to find out how looming interest rate cuts will impact the second biggest U.S. lender by assets.Financeread more
Turo is a peer-to-peer car-sharing firm that is often referred to as the Airbnb for cars.Technologyread more
Mortgage interest rates surged last week to their highest level in a month, and consequently homebuyers turned on their heels.Real Estateread more
Ascending triangle patterns have been appearing across the stock market, and they tend to be precursors to higher prices, says Miller Tabak's Matt Maley.Trading Nationread more
U.S. officials see the deal as a threat to NATO, for which Turkey provides the second-largest military.World Politicsread more
Google's services have been blocked in China for several years, but the company still has a business there, as the tech giant seeks to sell products to Chinese firms in...Technologyread more
China may have signaled it's going more hard-line on trade, but it could be a good thing, former U.S. negotiator Clete Willems told CNBC.World Economyread more
Support for U.S. President Donald Trump increased slightly among Republicans after he lashed out on Twitter over the weekend in a racially charged attack on four minority...Politicsread more
A key read on the industry, the Architecture Billings Index, fell into negative territory in June, according to the American Institute for Architects. Inquiries for new...Real Estateread more
While the vote served as a show of solidarity for Democrats, it recommended no substantive penalty against Trump.Politicsread more
Goldman Sachs has offered 1 billion ringgit ($241.73 million) to compensate Malaysia for its role in a multi-billion dollar financial scandal involving a Malaysian state fund — but the prime minister of the Southeast Asian country described that amount as "peanuts."
The U.S. financial giant helped state firm 1Malaysia Development Berhad (1MDB) to raise $6.5 billion in 2012 and 2013, and collected higher-than-typical fees of $600 million for the deals. Around $4.5 billion was later found missing from the fund, of which millions of dollars allegedly ended up in the personal bank account of Najib Razak, Malaysia's former prime minister.
"What Goldman Sachs has offered is not adequate," Malaysian Prime Minister Mahathir Mohamad told CNBC's Tanvir Gill on Saturday in Bangkok, Thailand where he's attending a summit for the Association of Southeast Asian Nations.
Mahathir said Malaysia's finance ministry will decide on an appropriate amount of compensation to demand from Goldman, and said the 1 billion Malaysian ringgit — which amounts to around $250 million — "is peanuts."
Goldman declined to comment when contacted by CNBC for this story.
The bank has come under scrutiny in multiple jurisdictions for its involvement with 1MDB. U.S. prosecutors charged two former bankers from the company, while Malaysia filed criminal charges against the financial firm.
Malaysian Finance Minister Lim Guan Eng told CNBC in January that his country is seeking $7.5 billion from Goldman and called on the bank to "have a heart."
Goldman Sachs Chief Executive David Solomon had apologized to the Malaysian people, but the bank also said it was lied to in the deals it facilitated for 1MDB.