Goldman Sachs may yank top executives’ bonuses over 1MDB scandal

Washington, D.C.: Investment bank Goldman Sachs said on Friday it could withhold multi-million-dollar bonuses for former CEO Lloyd Blankfein and other executives as a result of the 1MDB corruption scandal. In a statement filed on Friday with securities regulators, the company said stock awards for senior executives could be cut depending on how pending investigations […]

YouTube deletes Middle East adverts from controversial social network

Dubai: YouTube has removed a number of adverts from its platform in the Middle East, including one that showed a young woman dancing on camera in a provocative manner. The advert, which promoted LiveMe, a Hong Kong-based social network app, that encouraged users to sign up to the platform, was running before popular content in […]

What CEOs are saying about possibility of US recession

Washington, D.C.: Softening but still solid US demand as well as encroaching signs of global weakness are giving some corporate executives a more cautious view of their companies’ outlook. While business leaders don’t forecast a downturn, several saw the potential for recession and slowing growth on conference calls during the past week, from automakers to […]

East African nations approve individual trade pacts with EU if joint deal not reached

Dar es Salaam: East African countries can individually sign separate trade agreements with the European Union (EU) if a joint deal is not reached within the next four months, according to a statement from a meeting of regional leaders. The East African Community (EAC) and the EU have been at loggerheads for years over signing […]

UAE and Saudi Arabia discuss economic relations

Riyadh: The UAE and Saudi Arabia have discussed economic relations and ways to boost trade, business and investment cooperation, according to a statement from WAM released on Saturday. During a bilateral meeting held on the sidelines of the second Saudi-UAE Business Forum, between Sultan Bin Saeed Al Mansouri, UAE Minister of Economy, and Dr Majid […]

Nintendo ‘prepping new Switch model’ as sales slow

TOKYO. Nintendo is reportedly developing a smaller, cheaper version of its popular Switch games console, as sales of the device slow after initial runaway success. The firm’s share price tanked more than nine per cent on the news, which came a day after the games giant lowered its annual target for sales of the gadget […]