Saturday, March 30, 2019

Third Defeat for Theresa May's EU Divorce Deal

British MPs yesterday rejected Theresa May’s EU divorce deal for a third time, opening the way for a long delay to Brexit or a potentially catastrophic “no deal” withdrawal in two weeks. 

Lawmakers in parliament’s lower House of Commons defied May’s plea to end the political deadlock that has plunged Britain into crisis, and defeated her withdrawal agreement by 344 votes to 286. 

It is yet another blow to a prime minister (right) who has all but lost control of her government and the Brexit process – particularly after she offered to quit if MPs backed the deal. 

May’s dead meat! 

And in the UK too, the Financial Conduct Authority has fined Goldman Sachs’ London unit £34 million (RM182 million) for misreporting hundreds of millions in transactions. 

According to the Financial Times, the FCA adjudged the US investment bank to have improperly reported over 213 million individual transactions between 2007 and 2017. 

Anyway, the 1MDB bond-issuer had cooperated with the investigation and even agreed to a settlement of the fines – the payoff carved 30 percent off the original penalty of £49 million. 

More punitive action awaits Goldman Sachs.

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