(Reuters) -Goldman Sachs Chief Executive Officer David Solomon's total compensation for 2021 will be $35 million, the bank said on Friday. That is double the $17.5 million he received for 2020. The board had then slashed $10 million from his $27.5 million pay to settle legal costs related to the bank's role in the 1Malaysia Development Bhd corruption scandal. Solomon's total pay for 2021 includes an annual base salary of $2 million and a variable compensation of $33 million, 70% of which is in the form of goal-based stock compensation or restricted stock units. Other major Wall Street banks have also handsomely rewarded their chief executive officers as annual profits bounced back in 2021 thanks to pandemic-related loan loss provisions that did not materialize. Morgan Stanley (NYSE:MS) raised CEO James Gorman's annual pay to $35 million, while JPMorgan (NYSE:JPM) lifted Jamie Dimon's to $34.5 million. Since taking over the reins from Lloyd Blankfein in 2018, Solomon, 60, has looked to diversify revenue, focusing more on predictable streams including consumer banking and wealth and asset management while reducing reliance on capital markets-focused businesses. The bank reported a net income of $21.64 billion in 2021, compared with $9.46 billion a year earlier. It reported a 23% increase in fourth-quarter operating expenses, mainly due to higher compensation and benefits costs.

LONDON (Reuters) - Tech tycoon Mike Lynch will file an appeal against his extradition to the United States to face criminal charges including securities fraud related to the $11 billion deal to sell his company Autonomy to Hewlett Packard, his lawyers said. Earlier on Friday, the interior ministry ordered his extradition. "Dr Lynch firmly denies the charges brought against him in the U.S. and will continue to fight to establish his innocence," Chris Morvillo of Clifford Chance said in a statement. "This is not the end of the battle — far from it. Dr Lynch will now file an appeal to the High Court in London."

By Jan Strupczewski BRUSSELS (Reuters) - The European Union aims to invest tens of billions of euros to bolster its chip industry and double its share of global production to 20%, the bloc's industry chief said on Friday, after a global shortage showed the risks of relying on Asian and U.S. suppliers. The EU's ambitious plan comes after the United States last year announced its $52 billion CHIPS for America Act to better compete with Chinese technology. "I do not want to give you today the level of investment, but it will be commensurate to what the U.S. wants to put in," European Industry Commissioner Thierry Breton told journalists. "We are working with all the different payments, especially national, European, regional, but of course I confirm that when you add all this we will have what we need and it will be commensurate," he said. The EU Chips Act, announced by European Commission President Ursula von der Leyen last September and which the EU executive plans to flesh out on Feb. 8, will cover investments for the next 20-30 years. The EU chip push includes setting up a programme financed by EU states targeting the production of cutting-edge chips and a design platform for producers, software companies and users to test new applications.  Looser state aid rules will apply for European 'first of a kind' production facilities. "We do whatever it takes to attract strategic investment. We set our conditions, first of a kind in Europe, security of supply, no state aid for catch-up technologies," Breton said. "I want the EU to be a net exporter in semi-conductors like we are in vaccines. In geo-strategic industries like batteries or pharmaceuticals we do the same -- not do everything yourself but have the capacity if needed so that EU cannot be held hostage."