KL seeks fee refund from Goldman

KUALA LUMPUR • Malaysia is seeking a full refund of all the fees it paid to Goldman Sachs for arranging billions of dollars of deals for troubled state fund 1MDB, said Finance Minister Lim Guan Eng yesterday.

Goldman has "admitted culpability" after former banker Tim Leissner entered a guilty plea for his role in the scandal, Mr Lim told radio station BFM. He said Malaysia is counting on the firm's "indirect" admission of wrongdoing to recoup fees that include nearly US$600 million (S$830 million) that it paid Goldman for three bond deals.

BLOOMBERG

WHO issues antibiotic warning

GENEVA • The World Health Organisation (WHO) has warned that antibiotics consumption is dangerously high in some countries while a shortage in others is spurring misuse

Yesterday's report, based on 2015 data from 65 countries and regions, showed a significant difference in consumption rates that could drive the emergence of deadly superbug infections.

AGENCE FRANCE-PRESSE

New Zealand school teachers strike

WELLINGTON • School teachers walked off the job in New Zealand's largest city, Auckland, yesterday, kicking off a week of national strike action as a three-month battle over wages and work conditions tests the Labour-led government.

The move comes just over a year after Prime Minister Jacinda Ardern's Labour Party formed a coalition government, pledging to pour money into social services and rein in economic inequality.

REUTERS