By Sujata Rao LONDON (Reuters) - The Libyan wealth fund's former deputy chief screamed and cursed at Goldman Sachs bankers in a stormy meeting over derivatives trades made on the bank's advice that ultimately turned out to be worthless, a witness told a court on Tuesday. In a trial at London's High Court, the Libyan Investment Authority (LIA) is trying to claw back $1.2 billion from Goldman Sachs related to nine disputed trades carried out in 2008. The LIA argues Goldman took advantage of its financial naivety by first gaining its trust, then encouraging it to make risky and ultimately worthless investments. Goldman Sachs denies the allegations and says the trades in question "were not difficult to understand".
By Suleiman Al-Khalidi and Tom Perry AMMAN/BEIRUT (Reuters) - Syrian rebels advanced into an Islamic State-held town at the border with Iraq on Wednesday, a rebel commander told Reuters, in a new U.S.-backed offensive aimed at cutting the jihadists' self-declared caliphate in two. The operation aiming to capture the eastern Syrian town of Al-Bukamal, which began on Tuesday, adds to the pressure facing Islamic State as it faces a separate, U.S.-backed offensive in northern Syria aimed at driving it away from the Turkish border. The offensive is being waged by rebels of the "New Syria Army" formed some 18 months ago from insurgents driven from eastern Syria at the height of Islamic State's rapid expansion in 2014.