Good morning and welcome to your Morning Briefing for Monday 4 December 2023. To get this in your inbox every morning click here. CII and PFS: Friends again? Everything seemed fine between the CII and the PFS, until it wasn't. Are they friends again or is trouble still brewing? Read the full story Quote Of The Day
Lions Roar
6 days agoNo tags
The Santa Monica Lions were happy to present $2000 to Santa Monica High School for two SM Lions Club scholarships in memory of Jerry Bruver this month. The recipients of the $1000 scholarships are Stephanie Mexa-Garcia and Shley Da Hee Suh. There were so many wonderful applicants, we were sorry we could only award two scholarships. We wish the Class of 2021 the best in their chosen fields of study.
We also hope that we will be able to resume our fundraising efforts this coming year and be able to offer more support to other organizations in the community. As we have no endowment to rely upon, all of the donations we make to local nonprofits come directly from our fundraising efforts of the previous year. We have high hopes for the rest of 2021.
6:18 pm
Brazil construction giant Odebrecht S.A. and its petrochemical unit, Braskem S.A., pleaded guilty Wednesday to paying bribes around the world. The companies agreed to pay $3.5 billion for a global settlement with authorities in the United States, Brazil, and Switzerland.
Braskem, whose American Depositary Receipts trade on the New York Stock Exchange, agreed to pay the DOJ and SEC $159.8 million for conspiring to violate the Foreign Corrupt Practices Act. It will pay a criminal penalty to the DOJ of $94.8 million and disgorge $65 million to the SEC.
Odebrecht agreed to pay a criminal penalty to the DOJ that is equivalent to 10 percent of its total criminal fine. It agreed in its plea that the appropriate criminal fine is $4.5 billion. But it said it can only afford to pay $2.6 billion. Final sentencing was set for April 17, 2017 when the fine amount will be decided.