Judge says Paul Manafort lied to special counsel about interactions with alleged Russian spy Konstantin Kilimnik

Paul Manafort lied to investigators in three of the five examples laid out by special counsel Robert Mueller’s office, a federal judge said Wednesday. Some of those lies were related to interactions with alleged Russian spy Konstantin Kilimnik, who is a former business associate of Manafort’s. U.S. District Judge Amy Berman Jackson said in a Wednesday filing the special counsel provided enough evidence that Manafort did lie in some of those instances to the FBI, the special counsel and the grand


Paul Manafort lied to investigators in three of the five examples laid out by special counsel Robert Mueller’s office, a federal judge said Wednesday. Some of those lies were related to interactions with alleged Russian spy Konstantin Kilimnik, who is a former business associate of Manafort’s. U.S. District Judge Amy Berman Jackson said in a Wednesday filing the special counsel provided enough evidence that Manafort did lie in some of those instances to the FBI, the special counsel and the grand
Judge says Paul Manafort lied to special counsel about interactions with alleged Russian spy Konstantin Kilimnik Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: christine wang, jonathan ernst
Keywords: news, cnbc, companies, counsel, special, ruled, spy, manafort, lied, alleged, paul, related, russian, kilimnik, judge, mueller, konstantin, interactions


Judge says Paul Manafort lied to special counsel about interactions with alleged Russian spy Konstantin Kilimnik

Paul Manafort lied to investigators in three of the five examples laid out by special counsel Robert Mueller’s office, a federal judge said Wednesday.

In December, Mueller’s team alleged Trump’s former campaign chairman violated his plea deal by lying during his cooperation with the investigation. Some of those lies were related to interactions with alleged Russian spy Konstantin Kilimnik, who is a former business associate of Manafort’s.

U.S. District Judge Amy Berman Jackson said in a Wednesday filing the special counsel provided enough evidence that Manafort did lie in some of those instances to the FBI, the special counsel and the grand jury.

The judge ruled that Manafort lied while discussing payments made to a law firm that were material to the investigation.

She also ruled he lied about his interactions and communications with Kilimnik.

The filing said Manafort lied on Oct. 5, 2018 on matters that were material to another investigation conducted by the Department of Justice.

But the judge ruled that the special counsel failed to provide enough evidence that Manafort lied on Oct. 16, 2018 about Kilimnik’s alleged role in an obstruction of justice conspiracy as well as his contacts with the administration.

Manafort had cut a deal with Mueller in September just before his trial in U.S. District Court in Washington. He pleaded guilty to two counts of conspiracy. One count was related to money he earned from his work in Ukraine. The other was related to his attempts to tamper with witnesses against him.

Kilimnik has been criminally charged with working with Manafort in witness tampering efforts ahead of trials against the former Trump campaign chief. Mueller has previously alleged that Kilimnik was linked to a Russian intelligence service, including in 2016, the same year Manafort served as head of Trump’s campaign.

Manafort had agreed to help the special counsel’s investigation into Russian interference in the 2016 election in exchange for lenient sentencing.

In Wednesday’s filing, the judge said that because Manafort broke the terms of his deal with Mueller, the special counsel is no longer obligated to recommend a lighter sentence.


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: christine wang, jonathan ernst
Keywords: news, cnbc, companies, counsel, special, ruled, spy, manafort, lied, alleged, paul, related, russian, kilimnik, judge, mueller, konstantin, interactions


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Investors demand Walgreens explain how it’s managing opioid crisis risks

Walgreens Boots Alliance shareholders have instructed the company to explain how it’s monitoring and managing risks related to the opioid crisis, according to preliminary results announced Friday at Walgreens’ annual shareholders meeting. The measure requires Walgreens to prepare a report by June 30 detailing any changes the company has made to its corporate governance since 2012 in response to the opioid crisis. Investors want more specifics, including how Walgreens’ board oversees opioid-relat


Walgreens Boots Alliance shareholders have instructed the company to explain how it’s monitoring and managing risks related to the opioid crisis, according to preliminary results announced Friday at Walgreens’ annual shareholders meeting. The measure requires Walgreens to prepare a report by June 30 detailing any changes the company has made to its corporate governance since 2012 in response to the opioid crisis. Investors want more specifics, including how Walgreens’ board oversees opioid-relat
Investors demand Walgreens explain how it’s managing opioid crisis risks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-25  Authors: angelica lavito, christopher lee, bloomberg, getty images
Keywords: news, cnbc, companies, shareholders, explain, demand, walgreens, proposal, crisis, results, risks, company, companies, managing, related, opioid, investors


Investors demand Walgreens explain how it's managing opioid crisis risks

Walgreens Boots Alliance shareholders have instructed the company to explain how it’s monitoring and managing risks related to the opioid crisis, according to preliminary results announced Friday at Walgreens’ annual shareholders meeting.

The measure requires Walgreens to prepare a report by June 30 detailing any changes the company has made to its corporate governance since 2012 in response to the opioid crisis. Investors want more specifics, including how Walgreens’ board oversees opioid-related programs and whether executive bonuses consider any opioid-related objectives like promoting ethical conduct.

Investors for Opioid Accountability, a coalition that includes state treasurers, comptrollers, asset managers, labor funds and faith-based groups, submitted the proposal. It has filed similar ones with nearly a dozen companies, including drug distributors AmerisourceBergen and Cardinal Health and drug companies Johnson & Johnson and Pfizer.

Walgreens’ board opposed the proposal, saying it already discloses how it’s handling the issue. Preliminary results showed shareholders voted in favor of the measure, though the company said final results will be released in a filing with the Securities and Exchange Commission. CEO Stefano Pessina is Walgreens’ largest shareholder, holding about 15 percent of the company’s stock, according to FactSet.

Drugmakers, distributors and pharmacies have all come under scrutiny for their role in the crisis that has killed scores of Americans. Lax prescribing and monitoring of prescription painkillers is widely seen as fueling opioid addiction. Now these companies face lawsuits from thousands of state and local governments.

Two influential proxy advisory firms, Glass Lewis and Institutional Shareholder Services, recommended shareholders vote in favor of the proposal. In its analysis, ISS said despite a proliferation of lawsuits, subpoenas and investigations related to the opioid crisis, Walgreens “does not seem to have taken steps at the board level related specifically to managing risks stemming from the opioid epidemic.”

Glass Lewis in its analysis said a “more thorough discussion is warranted at this time.”

They cite the immediate financial and legal risks to the company, as well as the additional threats. Walgreens owns about one-fourth of AmerisourceBergen, which is also embroiled in opioid litigation.


Company: cnbc, Activity: cnbc, Date: 2019-01-25  Authors: angelica lavito, christopher lee, bloomberg, getty images
Keywords: news, cnbc, companies, shareholders, explain, demand, walgreens, proposal, crisis, results, risks, company, companies, managing, related, opioid, investors


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Papa John’s must hand over documents related to founder’s ouster

After months in court, a Delaware judge ruled Tuesday that Papa John’s must turn over internal documents to its founder John Schnatter. Schnatter argued in court that the company has documents that prove the company was mismanaged and that he had been improperly pushed out of his executive roles. On Tuesday, a judge ordered the company’s directors to turn over documents and other communications, including text messages on personal devices, related to Schnatter’s firing. Representatives for Schna


After months in court, a Delaware judge ruled Tuesday that Papa John’s must turn over internal documents to its founder John Schnatter. Schnatter argued in court that the company has documents that prove the company was mismanaged and that he had been improperly pushed out of his executive roles. On Tuesday, a judge ordered the company’s directors to turn over documents and other communications, including text messages on personal devices, related to Schnatter’s firing. Representatives for Schna
Papa John’s must hand over documents related to founder’s ouster Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: sarah whitten, angela weiss, getty images entertainment, getty images
Keywords: news, cnbc, companies, related, ruling, company, messages, documents, ouster, directors, papa, months, hand, turn, johns, founders, judge


Papa John's must hand over documents related to founder's ouster

After months in court, a Delaware judge ruled Tuesday that Papa John’s must turn over internal documents to its founder John Schnatter.

Schnatter, who owns a 30 percent stake in the company, stepped down as CEO in November 2017 and left his post as chairman in July after a series of public relations snafus crippled the company’s stock.

Schnatter argued in court that the company has documents that prove the company was mismanaged and that he had been improperly pushed out of his executive roles.

On Tuesday, a judge ordered the company’s directors to turn over documents and other communications, including text messages on personal devices, related to Schnatter’s firing. The order covers some messages between the directors and their lawyers, the ruling said.

Representatives for Schnatter and Papa John’s did not immediately respond to CNBC’s request for comment.

This ruling comes months after CNBC reported the pizza chain had begun to explore a possible sale.

Papa John’s shares have fallen more than 30 percent over the past year, but the stock is up nearly 7 percent since the start of 2019.


Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: sarah whitten, angela weiss, getty images entertainment, getty images
Keywords: news, cnbc, companies, related, ruling, company, messages, documents, ouster, directors, papa, months, hand, turn, johns, founders, judge


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Mueller investigation cost $25 million in first 16 months, report shows

Special counsel Robert Mueller has spent just over $25 million in his probe of any links between the Trump campaign and Russia, according to a new filing released Friday. The filing shows that Mueller spent a total of $4.5 million in the six-month period between April and October, with most of the fees going to personnel compensation and benefits. The probe incurred another $4 million in costs to Justice Department components not directly tied to the inquiry. President Donald Trump has blasted M


Special counsel Robert Mueller has spent just over $25 million in his probe of any links between the Trump campaign and Russia, according to a new filing released Friday. The filing shows that Mueller spent a total of $4.5 million in the six-month period between April and October, with most of the fees going to personnel compensation and benefits. The probe incurred another $4 million in costs to Justice Department components not directly tied to the inquiry. President Donald Trump has blasted M
Mueller investigation cost $25 million in first 16 months, report shows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-14  Authors: tucker higgins, tom williams, cq roll call, getty images
Keywords: news, cnbc, companies, trump, cost, mueller, 16, shows, filing, 25, related, president, million, months, investigation, manafort, probe, russian, report, spent


Mueller investigation cost $25 million in first 16 months, report shows

Special counsel Robert Mueller has spent just over $25 million in his probe of any links between the Trump campaign and Russia, according to a new filing released Friday.

The filing shows that Mueller spent a total of $4.5 million in the six-month period between April and October, with most of the fees going to personnel compensation and benefits. The probe incurred another $4 million in costs to Justice Department components not directly tied to the inquiry.

President Donald Trump has blasted Mueller for the cost of the probe. In June, the president wrote in a post on Twitter that “the Russian Hoax Investigation has now cost our government over $17 million, and going up fast.”

But the inquiry has proceeded along relatively quickly and at less expense than similar inquiries conducted by the Justice Department, such as Kenneth Starr’s investigation into President Bill Clinton.

Some have noted that Mueller’s prosecution of former Trump campaign chairman Paul Manafort also netted cash for the government, thanks to asset forfeitures Manafort agreed to as part of his plea agreement. In September, Manafort agreed to hand over real estate and cash estimated to be worth as much as $46 million. That money does not contribute to Mueller’s budget.

In the latest filing, Mueller reported spending nearly $3 million on compensation, $580,000 on travel and transportation, $1 million on rent and related expenses, and $300,000 on contractual services, primarily related to IT.

Since he began his probe in May 2017, Mueller has filed more than 100 criminal charges against 33 individuals and three companies. Twenty-five of those indicted in connection with the probe are Russian nationals.


Company: cnbc, Activity: cnbc, Date: 2018-12-14  Authors: tucker higgins, tom williams, cq roll call, getty images
Keywords: news, cnbc, companies, trump, cost, mueller, 16, shows, filing, 25, related, president, million, months, investigation, manafort, probe, russian, report, spent


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UK banks may have been used for Iran payments related to Huawei: WSJ

British banks Standard Chartered and HSBC were reportedly among financial institutions misled by Chinese technology giant Huawei into funneling illicit payments from Iran, The Wall Street Journal reported on Sunday, citing sources familiar with the matter. According to the Journal, Huawei allegedly used a third-party intermediary — a small Hong Kong-based technology firm called Skycom — to channel payments between the company and Iran. The Journal reported that a spokesman for Huawei declined to


British banks Standard Chartered and HSBC were reportedly among financial institutions misled by Chinese technology giant Huawei into funneling illicit payments from Iran, The Wall Street Journal reported on Sunday, citing sources familiar with the matter. According to the Journal, Huawei allegedly used a third-party intermediary — a small Hong Kong-based technology firm called Skycom — to channel payments between the company and Iran. The Journal reported that a spokesman for Huawei declined to
UK banks may have been used for Iran payments related to Huawei: WSJ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: kate fazzini, jane wolsak, fred dufour, afp, getty images
Keywords: news, cnbc, companies, technology, used, standard, iran, huawei, violations, meng, wsj, hsbc, journal, chartered, declined, uk, travel, payments, banks, related


UK banks may have been used for Iran payments related to Huawei: WSJ

British banks Standard Chartered and HSBC were reportedly among financial institutions misled by Chinese technology giant Huawei into funneling illicit payments from Iran, The Wall Street Journal reported on Sunday, citing sources familiar with the matter.

According to the Journal, Huawei allegedly used a third-party intermediary — a small Hong Kong-based technology firm called Skycom — to channel payments between the company and Iran. The Journal reported that a spokesman for Huawei declined to comment.

Huawei’s chief financial officer Meng Wanzhou was arrested during a layover in Vancouver, Canada on Dec. 1 at the request of U.S. authorities. Beijing has threatened unspecified “severe consequences” if Canadian courts don’t release Meng, the daughter of Huawei founder Ren Zhengfei. Meng returns to court for a bail hearing Monday.

Both HSBC and Standard Chartered are based in the U.K., and both have been under scrutiny from global regulators for past money-laundering violations. The two banks also have had federal monitors in place to watch for the types of transactions described in the Huawei filings — but neither bank has been accused of any wrongdoing as part of this case.

Responding to CNBC, Standard Chartered declined to comment but clarified that the bank was not a target of investigations related to Huawei. HSBC also declined to comment on the WSJ story.

“The US Department of Justice has confirmed that HSBC is not under investigation in this case,” said Stuart Levey, Chief Legal Officer at HSBC in a response to an email from CNBC.

Huawei has also been under U.S. government scrutiny since 2012 for a wide range of purported issues, such as alleged government-supported cyber espionage, intellectual property theft and violations of sanctions, including those related to Iran.

According to the court case outlined on Friday, Huawei executives allegedly knew of an investigation into sanctions violations as early as 2017, and had been “altering their travel patterns to avoid any travel to or through the United States.” Meng’s attorney has countered that trade-war tensions were responsible for the travel changes.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: kate fazzini, jane wolsak, fred dufour, afp, getty images
Keywords: news, cnbc, companies, technology, used, standard, iran, huawei, violations, meng, wsj, hsbc, journal, chartered, declined, uk, travel, payments, banks, related


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Mueller court filing details how Manafort allegedly lied to the government

Here are the key takeaways:The document laid out five key lies Manafort allegedly told the special counsel and the FBI. Separately, according to another Manafort colleague, Manafort said in February 2018 that Manafort had been in communication with a senior Administration official up through February 2018.” In response to the court filing, White House Press Secretary Sarah Sanders issued the following statement:The government’s filing in Mr. Manafort’s case says absolutely nothing about the Pres


Here are the key takeaways:The document laid out five key lies Manafort allegedly told the special counsel and the FBI. Separately, according to another Manafort colleague, Manafort said in February 2018 that Manafort had been in communication with a senior Administration official up through February 2018.” In response to the court filing, White House Press Secretary Sarah Sanders issued the following statement:The government’s filing in Mr. Manafort’s case says absolutely nothing about the Pres
Mueller court filing details how Manafort allegedly lied to the government Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-07  Authors: kevin breuninger, dan mangan, andrew kelly
Keywords: news, cnbc, companies, manaforts, document, trump, mueller, lied, counsel, court, manafort, special, lies, allegedly, details, related, filing


Mueller court filing details how Manafort allegedly lied to the government

Special counsel Robert Mueller has filed a court document on alleged lies told by Paul Manafort to Mueller’s team in violation of the plea deal signed by the ex-Trump campaign chairman.

Here are the key takeaways:

The document laid out five key lies Manafort allegedly told the special counsel and the FBI. Those alleged lies related to suspected Russian spy Konstantin Kilimnik and a wire transfer to a firm working for Manafort, as well as “information pertinent to another Department of Justice investigation” and “Manafort’s contact with Administration officials.”

Large sections of the document detailing the alleged falsehoods are blacked out. The most heavily redacted portions related to Manafort’s interactions with Kilimnik.

The special counsel said evidence “demonstrates that Manafort lied about his contacts” when he said after signing his plea deal that he had “no direct or indirect communications with anyone” in the Trump administration.

Manafort was talking to people in the Trump administration as late as 2018, the document alleges: “In a text message from May 26, 2018, Manafort authorized a person to speak with an Administration official on Manafort’s behalf. Separately, according to another Manafort colleague, Manafort said in February 2018 that Manafort had been in communication with a senior Administration official up through February 2018.”

Mueller said Manafort’s lies “were not instances of mere memory lapses,” and that the special counsel “is available to prove the false statements at a hearing” if Manafort challenges the most recent allegations against him.

In response to the court filing, White House Press Secretary Sarah Sanders issued the following statement:

The government’s filing in Mr. Manafort’s case says absolutely nothing about the President. It says even less about collusion and is devoted almost entirely to lobbying-related issues. Once again the media is trying to create a story where there isn’t one.

Read the full filing here.

Before the filing was released, a federal judge ordered Mueller to file his full submission about ex-Trump campaign chairman Paul Manafort’s “crimes and lies” out of public view.

U.S. District Judge Amy Berman Jackson granted Mueller’s request to file under seal the “unredacted version” of the court document, in which the special counsel was expected to defend its determination that Manafort lied to investigators in violation of the terms of his plea deal.

But a version of the filing with blacked-out portions would still be released to the public, the judge ordered.

Just as the court filing was released, President Donald Trump tweeted: “Totally clears the President. Thank you!” Trump did not specify whether or not he was referring to the submission in Manafort’s case.

The decision from Jackson in Washington, D.C. federal court came shortly before Mueller’s deadline to submit the document.

In a prior filing, the special counsel accused Manafort, 69, of lying about a “variety of subject matters” to investigators, without providing details about the allegation. His plea agreement with the special counsel required him to fully and truthfully cooperate with investigators.

In a court appearance following that allegation, attorneys for Mueller revealed that they were mulling over whether to file new charges against Manafort.

Manafort was already on the hook for a raft of criminal charges lodged by Mueller.

In August, Manafort was convicted in Virginia federal court of eight counts related to his past work on behalf of a pro-Russia political party in Ukraine. He is due to be sentenced in that case on Feb. 8.

In September, on the eve of a second trial in U.S. District Court in Washington, Manafort struck a deal with Mueller in which he pleaded guilty to two counts of conspiracy, one of which related to money earned from his work in Ukraine, the other of which was related to his effort to tamper with witnesses against him. His sentencing in that case is tentatively scheduled for March 5.

–CNBC’s Jacob Pramuk and Tucker Higgins contributed to this report


Company: cnbc, Activity: cnbc, Date: 2018-12-07  Authors: kevin breuninger, dan mangan, andrew kelly
Keywords: news, cnbc, companies, manaforts, document, trump, mueller, lied, counsel, court, manafort, special, lies, allegedly, details, related, filing


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Arrest of Huawei CFO shows ‘the gloves are now fully off,’ says Eurasia Group

The arrest of Huawei’s global chief financial officer in Canada, reportedly related to a violation of U.S. sanctions, will corrode trade negotiations between Washington and Beijing, risk consultancy Eurasia Group said Thursday. “Beijing is likely to react angrily to this latest arrest of a Chinese citizen in a third country for violating U.S. law,” Eurasia analysts wrote. Canada’s Department of Justice said on Wednesday the country arrested Meng Wanzhou in Vancouver, where she is facing extradit


The arrest of Huawei’s global chief financial officer in Canada, reportedly related to a violation of U.S. sanctions, will corrode trade negotiations between Washington and Beijing, risk consultancy Eurasia Group said Thursday. “Beijing is likely to react angrily to this latest arrest of a Chinese citizen in a third country for violating U.S. law,” Eurasia analysts wrote. Canada’s Department of Justice said on Wednesday the country arrested Meng Wanzhou in Vancouver, where she is facing extradit
Arrest of Huawei CFO shows ‘the gloves are now fully off,’ says Eurasia Group Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: huileng tan, photographer, collection, getty images, source
Keywords: news, cnbc, companies, related, statement, cfo, fully, sanctions, chinese, violation, group, trade, telecommunications, arrest, gloves, told, huawei, shows, eurasia


Arrest of Huawei CFO shows 'the gloves are now fully off,' says Eurasia Group

The arrest of Huawei’s global chief financial officer in Canada, reportedly related to a violation of U.S. sanctions, will corrode trade negotiations between Washington and Beijing, risk consultancy Eurasia Group said Thursday.

“Beijing is likely to react angrily to this latest arrest of a Chinese citizen in a third country for violating U.S. law,” Eurasia analysts wrote.

In fact, Global Times — a hyper-nationalistic tabloid tied to the Chinese Communist Party — responded to the arrest by posting on Twitter a statement about trade war escalation it attributed to an expert “close to the Chinese Ministry of Commerce.”

“China should be fully prepared for an escalation in the #tradewar with the US, as the US will not ease its stance on China, and the recent arrest of the senior executive of #Huawei is a vivid example,” said the statement, paired with a photo of opposing fists with Chinese and American flags superimposed upon them.

Canada’s Department of Justice said on Wednesday the country arrested Meng Wanzhou in Vancouver, where she is facing extradition to the U.S. The arrest is related to violations of U.S. sanctions, a person familiar with the matter told Reuters.

U.S. authorities have been probing Huawei, one of the world’s largest makers of telecommunications network equipment, since at least 2016 for allegedly shipping U.S.-origin products to Iran and other countries in violation of U.S. export and sanctions laws, sources told Reuters in April.

The analysts said the Huawei executive’s arrest will not derail the start of trade negotiations after U.S. President Donald Trump and Chinese President Xi Jinping’s meeting last weekend in Argentina saw them agree to first steps to resolve their trade dispute. Still, they acknowledged, the incident involving Chinese telecommunications giant Huawei is likely to cloud talks.


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: huileng tan, photographer, collection, getty images, source
Keywords: news, cnbc, companies, related, statement, cfo, fully, sanctions, chinese, violation, group, trade, telecommunications, arrest, gloves, told, huawei, shows, eurasia


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Qatar to quit OPEC after more than 57 years, denies decision related to Saudi-led boycott

Qatar announced plans to pull out of OPEC on Monday, just days before a crucial meeting between the influential oil cartel and its allies. Speaking at a news conference, Qatar’s Energy Minister Saad al-Kaabi said the country would withdraw from OPEC on January 1, 2019, ending a membership which has stood for more than half-a-century. The decision comes after Qatar reviewed ways in which it could improve its global standing and plan its long-term strategy. The country’s energy minister said Monda


Qatar announced plans to pull out of OPEC on Monday, just days before a crucial meeting between the influential oil cartel and its allies. Speaking at a news conference, Qatar’s Energy Minister Saad al-Kaabi said the country would withdraw from OPEC on January 1, 2019, ending a membership which has stood for more than half-a-century. The decision comes after Qatar reviewed ways in which it could improve its global standing and plan its long-term strategy. The country’s energy minister said Monda
Qatar to quit OPEC after more than 57 years, denies decision related to Saudi-led boycott Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: sam meredith, barbara gindl, afp, getty images
Keywords: news, cnbc, companies, saudi, producers, oil, 57, denies, opec, saudiled, qatar, quit, decision, boycott, related, qatars, minister, energy, meeting


Qatar to quit OPEC after more than 57 years, denies decision related to Saudi-led boycott

Qatar announced plans to pull out of OPEC on Monday, just days before a crucial meeting between the influential oil cartel and its allies.

Speaking at a news conference, Qatar’s Energy Minister Saad al-Kaabi said the country would withdraw from OPEC on January 1, 2019, ending a membership which has stood for more than half-a-century.

The decision comes after Qatar reviewed ways in which it could improve its global standing and plan its long-term strategy.

While Qatar is one of OPEC’s smallest oil producers, especially when compared to the likes of de facto leader Saudi Arabia, it is one of the world’s largest producers of liquefied natural gas (LNG).

The country’s energy minister said Monday that the move represents a “technical and strategic” change, Reuters reported, and was not politically motivated.

Qatar’s Al-Kaabi also said the decision was not linked to the 18-month political and economic boycott of Doha.

Since June 2017, OPEC kingpin Saudi Arabia — along with three other Arab states — has cut trade and transport ties with Qatar, accusing the country of supporting terrorism and their regional rival, Iran. Qatar denies the claims, saying the boycott hampers its national sovereignty.

The Middle East-dominated group’s final meeting of the calendar year is now expected to be Qatar’s last. It has been an official OPEC member since 1961.


Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: sam meredith, barbara gindl, afp, getty images
Keywords: news, cnbc, companies, saudi, producers, oil, 57, denies, opec, saudiled, qatar, quit, decision, boycott, related, qatars, minister, energy, meeting


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Goldman Sachs shares fall after Bank of America says 1MDB scandal uncertainty could ‘linger’

Shares of Goldman Sachs fell nearly 2 percent Friday after an analyst at Bank of America Merrill Lynch said the stock’s gains could be capped as a scandal related to the Malaysian government investment fund festers. In that time, Goldman shares have dropped more than 10 percent. Goldman shares since Nov. 12Source: FactSetMorgan Stanley also lowered its Goldman rating on Nov. 21 amid the scandal, noting it is not clear how long the situation “will take to resolve.” Former Goldman investment banke


Shares of Goldman Sachs fell nearly 2 percent Friday after an analyst at Bank of America Merrill Lynch said the stock’s gains could be capped as a scandal related to the Malaysian government investment fund festers. In that time, Goldman shares have dropped more than 10 percent. Goldman shares since Nov. 12Source: FactSetMorgan Stanley also lowered its Goldman rating on Nov. 21 amid the scandal, noting it is not clear how long the situation “will take to resolve.” Former Goldman investment banke
Goldman Sachs shares fall after Bank of America says 1MDB scandal uncertainty could ‘linger’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: fred imbert, getty images
Keywords: news, cnbc, companies, carrier, stock, related, america, 1mdb, investment, fall, uncertainty, sachs, shares, goldman, merrill, linger, scandal, nov, bank


Goldman Sachs shares fall after Bank of America says 1MDB scandal uncertainty could 'linger'

Shares of Goldman Sachs fell nearly 2 percent Friday after an analyst at Bank of America Merrill Lynch said the stock’s gains could be capped as a scandal related to the Malaysian government investment fund festers.

Bank of America Merrill Lynch analyst Michael Carrier downgraded Goldman to neutral from buy and slashed his price target on the stock to $225 a share from $280, still implying a 15.5 percent upside from Thursday’s close. The stock traded around $191 before the bell Friday.

“While we view the current valuation as discounting most of the potential negative scenarios related to 1MDB, we only have limited information and the uncertainty could linger for a while and limit the upside potential if markets stabilize,” Carrier wrote in a note to clients.

Goldman’s stock has fallen sharply since news broke that the Malaysian government sought refunds of fees it paid the bank for deals related to 1MDB, Malaysia’s state investment fund. The deals raised billions of dollars that were later stolen. In that time, Goldman shares have dropped more than 10 percent. But most of those losses came after it was reported that former CEO Lloyd Blankfein attended an introductory meeting with the financier later accused of stealing billions from the fund.

Goldman shares since Nov. 12

Source: FactSet

Morgan Stanley also lowered its Goldman rating on Nov. 21 amid the scandal, noting it is not clear how long the situation “will take to resolve.”

Meanwhile, Bloomberg News reported Thursday that the Federal Reserve is ramping up an investigation into how Goldman executives avoided the bank’s compliance controls. Former Goldman investment banker Tim Leissner, who pleaded guilty for his involvement in the 1MDB scandal, said this behavior is part of the bank’s culture.

Goldman “could face fines, penalties and other sanctions, but as of now, we don’t expect it to have a [long-term] impact on the business,” Bank of America Merrill Lynch’s Carrier said. “That said, given that the timing of the investigation is not known, this may take some time, could continue to weigh on GS, and limit [near-term] stock upside.”

To be sure, Carrier points out that similar cases in the past have ended with penalties ranging from millions of dollars to about $2 billion. Goldman “has lost ~$12B in market cap (~14%) since the beginning of Nov on these headlines … so it appears to us that the stock has more than discounted the outcome. In addition, the headlines shined a negative light on GS during a broader market and sector sell-off, which likely added to the pressure,” Carrier said.

—CNBC’s Michael Bloom contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: fred imbert, getty images
Keywords: news, cnbc, companies, carrier, stock, related, america, 1mdb, investment, fall, uncertainty, sachs, shares, goldman, merrill, linger, scandal, nov, bank


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GOP senators want Trump to halt nuclear technology talks with Saudis after Khashoggi killing

Five Republican senators have asked the Trump administration to suspend talks to transfer U.S. nuclear technology to Saudi Arabia following the killing of journalist Jamal Khashoggi at the kingdom’s consulate in Turkey. The lawmakers, led by Senator Marco Rubio, threatened to block any agreement to export civilian nuclear technology to Saudi Arabia, potentially setting up a showdown with the White House. The Trump administration has courted the Saudis as they seek to build 16 nuclear power react


Five Republican senators have asked the Trump administration to suspend talks to transfer U.S. nuclear technology to Saudi Arabia following the killing of journalist Jamal Khashoggi at the kingdom’s consulate in Turkey. The lawmakers, led by Senator Marco Rubio, threatened to block any agreement to export civilian nuclear technology to Saudi Arabia, potentially setting up a showdown with the White House. The Trump administration has courted the Saudis as they seek to build 16 nuclear power react
GOP senators want Trump to halt nuclear technology talks with Saudis after Khashoggi killing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-31  Authors: tom dichristopher, getty images
Keywords: news, cnbc, companies, saudis, gop, suspend, halt, related, arabia, senators, khashoggi, saudi, talks, killing, trump, nuclear, technology, letter


GOP senators want Trump to halt nuclear technology talks with Saudis after Khashoggi killing

Five Republican senators have asked the Trump administration to suspend talks to transfer U.S. nuclear technology to Saudi Arabia following the killing of journalist Jamal Khashoggi at the kingdom’s consulate in Turkey.

The lawmakers, led by Senator Marco Rubio, threatened to block any agreement to export civilian nuclear technology to Saudi Arabia, potentially setting up a showdown with the White House. The Trump administration has courted the Saudis as they seek to build 16 nuclear power reactors over the next 25 years, an endeavor that would generate tens of billions of dollars in economic activity.

In a letter to President Donald Trump, the senators say the slaying of Khashoggi, as well as other foreign policy issues, raise questions about whether the Saudi leadership should be entrusted with U.S. nuclear technology and know-how.

“The ongoing revelations about the murder of Saudi journalist Jamal Khashoggi, as well as certain Saudi actions related to Yemen and Lebanon, have raised further serious concerns about the transparency, accountability, and judgment of current decisionmakers in Saudi Arabia,” the lawmakers wrote in a letter to Trump.

“We therefore request that you suspend any related negotiations for a U.S.-Saudi civil nuclear agreement for the foreseeable future.”


Company: cnbc, Activity: cnbc, Date: 2018-10-31  Authors: tom dichristopher, getty images
Keywords: news, cnbc, companies, saudis, gop, suspend, halt, related, arabia, senators, khashoggi, saudi, talks, killing, trump, nuclear, technology, letter


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