Goldman Sachs Slips After Malaysia Charges
  • 5 years ago
Goldman Sachs and two of its former executives have been charged with committing "grave violations" of Malaysia's securities law relating to 1MDB, the country's sovereign wealth fund. Goldman shares fell about 2%. Goldman Sachs shares were lower early Monday morning, down 2.65%, after Malaysia filed criminal charges against the bank and two if its former executives over what the country called "grave violations" of its securities law relating to the $6.5 billion sovereign wealth fund 1MDB. A flattening yield curve hurts banks' profitability as it shrinks the spread between the rate at which banks borrow and the rate at which they lend.
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