January 18, 2021 - Biz in 60 - a podcast by TRT World

Samsung's Jay Y Lee gets 30 months in prison for bribery
A South Korean court has sentenced Samsung vice chairman Jay Y Lee to two-and- a-half years in jail. The 52-year-old Lee was convicted of bribing an associate of former president Park Geun-hye and jailed in 2017. But the sentence was reduced and suspended on appeal. Shares of firms linked to the electronics giant plunged after the verdict.

Malaysia to introduce additional $3.7B stimulus package
Malaysian Prime Minister Muhyiddin Yassin says the government will inject 3-point-7 billion dollars in additional stimulus to support the pandemic-hit economy. The move comes a week after the Southeast Asian country declared a state of emergency to stem a new surge in coronavirus cases. The newly announced economic measures will include cash support to the poor, tax breaks and wage subsidies.

Carmakers Fiat Chrysler, PSA Group complete $48B merger
Fiat Chrysler and PSA Group have completed their 48-billion- dollar merger to create the world's fourth-largest carmaker. The automakers said the newly formed company, called Stellantis, is expected to cut annual costs by more than 6-billion- dollars. Shares in Stellantis jumped as much as 7-and- a-half percent on their first trading day in Milan and Paris.

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