NYSE Trader smile happy — Traders work during the opening bell at the New York Stock Exchange (NYSE) on March 13, 2020 at Wall Street in New York City.
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Happy Friday!

The second shoe has finally dropped for Goldman regarding its involvement in Malaysia's 1MDB fund. On Thursday, the bank reached an agreement with US authorities to pay out nearly $3 billion. This comes a few months after Goldman agreed to a $3.9 billion settlement with Malaysia.

One interesting tidbit from the news. Goldman Sachs' CEO, COO, and CFO, along with Goldman Sachs International's CEO, will have their overall compensation reduced by $31 million for 2020. That's in addition to $76 million the bank is clawing back from former employees implicated in the incident.

According to the Justice Department, Goldman earned $600 million in fees from its work with 1MDB.

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Consultants find a goldmine with state contracts

Yuqing Liu/Business Insider

Professional services, like many other industries, has faced some downturns in its business this year.

However, one bright spot for EY and Deloitte has been their work with state governments. Samantha Stokes has a nice breakdown of the work by the two tax and audit firms to help states in their response to the pandemic.

In short, the two firms earned at least 10 contracts with four states, amounting to $63.2 million in fees.

Oh, and all of it was won without a bidding process.

Click here to read the entire story.

Goldman Sachs, KKR, and Blackstone are pouring billions into data centers

data center servers data centre — Thomas Koehler/Getty Images

Data centers are some of the hottest investments to be made on The Street these days. Daniel Geiger takes a look at some recent deals to get an understanding of the landscape. Read the full story here.

The CEO of $10 billion Klarna lays out the buy now, pay later giant's plans to dominate retail checkouts

Klarna Influencers — Startups like Klarna are luring millennial shoppers with installment payment plans.
Astrid Stawiarz/Stringer/Getty Images

Buy now, pay later is one of the hottest trends in consumer finance right now. Check out Shannen Balogh's story on comments made by Sebastian Siemiatkowski, cofounder and CEO of Klarna, about the future of his company. Read the whole story here.

Odd lots:

7 lawyers helping Google fight landmark antitrust charges in a battle that could stretch on for years, from in-house pros to DOJ veterans (BI)

How Wirecard misled investors over KPMG's special audit (FT)

Robinhood's Addictive App Made Trading a Pandemic Pastime (Bloomberg)

Paul Singer's $41 Billion Hedge Fund Moving Headquarters to Florida (Bloomberg)

Goldman Sachs sends employees home after two Covid-19 cases on trading floors (FinancialNews)